ScottisPower, which is a subsidiary Iberdrola plans to set up a 20 MW green hydrogen project and has submitted an application seeking permit. The plant will be located near the Whitelee onshore wind farm on the outskirts of Glasgow. The project will also use power sourced from a combined solar and battery having 40 MW and 50 MW of capacity respectively.
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Statkraft is planning to develop a 102 MW Torsa wind power project in Chile. The project is located in the O’Higgins region, 124 km south of the city of Santiago. The project construction is expected to begin in the second semester of 2021. The three projects are Cardonal, Manantiales, and Los Cerillos, which are expected to be finished in October, November and December of 2022, respectively.
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According to publicly available BNEF data, at the end of 2019, the cumulative PPA capacity contracted from renewable energy sources (excluding green tariffs) was approximately 27.2 GW, with higher penetration of wind energy in comparison to solar. The 11.2 GW of additional PPAs signed in 2019 alone represents more than 40 percent of the total corporate-contracted capacity since 2009.
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Both domestic and foreign investors point to a slightly more favourable outlook for state versus federal policy, APAC-based investors in particular (96%). European investors are the notable exception with 66% expecting state policies to be supportive versus 81% for federal policies. Australia-based investors are marginally less positive about government support than they were in the previous survey with 91% anticipating supportive policies from state government and 85% from federal government, versus 90% overall (federal and state) in the 2019 study.
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Backed by a survey of more than 600 power sector stakeholders, Black & Veatch’s 2020 Strategic Directions: Electric Report details an electric industry waging a sweeping transformation, much of it propelled by the rising tide of renewable and distributed energy and how to best integrate it into the grid.
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Romania reached its 2020 EU renewables target of 24% of final energy consumption coming from renewables several years ago. In order to reach its 2030 renewables target of 30.7%, Romania plans to add around 7 GW of new renewables capacity, of which around 3.7 GW is projected to be solar projects, according to the plan.
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Despite the immense obstacles, U.S. local governments bought more renewable energy in 2020 than ever before, according to new data from the Local Government Renewables Action Tracker. Nearly 100 cities and counties across 33 states completed 143 deals, adding 3,683 megawatts (MW) of renewable energy capacity.
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Buckeye Partners and Nala Renewables will together acquire majority ownership of Swift Current Energy, a North American clean energy development and investment platform. As part of this transaction, Swift Current Energy’s management team will retain a minority ownership in the company through their holding company, Lookout Ridge Energy Partners. The same team will also remain in place as the company’s management.
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A leading Saudi power player, ACWA Power, has finalised the project agreements for the 200 MW Kom Ombo PV plant in Egypt. It has recently signed the 25-year Power Purchase Agreement (PPA), Network Connection Contract and Usufruct Agreement with the Egyptian government. The Government Guarantee for the said solar PV project had already been signed in January 2021.
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The Polish Energy Regulatory Office has awarded a Contract for Difference (CfD) to the Baltica Offshore Wind Farm which is reported to be the largest offshore wind project in the Polish part of the Baltic Sea. Its two phases, Baltica 3 and Baltica 2, would together have a cumulative capacity of up to 2.5 GW. The CfD was awarded at a maximum of PLN 319.60/MWh in accordance with the Decree of the Minister of Climate and Environment of Poland and the Offshore Wind Act.
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India’s leading renewable energy IPP, ReNew Power, has announced its committment to achieve net zero greenhouse gas emissions by 2050. The company’s latest announcement aligns with the ‘Race To Zero’ campaign which is a global alliance committed to achieving net zero carbon emissions through leadership and support from businesses, investors as well as cities and regions.
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As urbanization and use of renewables continue to rise, the smart renewable city (SRC) concept is increasingly taking hold. In its seminal report Renewables power smart cities, Deloitte developed an SRC framework to identify and classify cities globally that are deploying solar and/or wind power in connection with their smart city plans.
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Check out the presentation by Tim Buckley, Director Energy Finance Studies, South Asia/Australia made at a conference organised by Renewable Watch and Powerline
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The Finniss Lithium Project has completed its first product test work and has confirmed that it is producing “battery-grade” lithium hydroxide monohydrate. The Australian Nuclear Science and Technology Organisation carried out tests from a sample of its product and successfully extracted over 95 per cent of lithium on two-kilogram samples of blended concentrate in two separate tests.
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Rice Acquisition Corp,a special purpose acquisition company (SPAC), has announced an agreement with Aria Energy and Archaea Energy to create a renewable natural gas (RNG) platform in the United States. The transaction is expected to close by the end of 2021 and the combined company will be listed on the NYSE under the ticker symbol “LFG”. It aims to capture and convert waste emissions from landfills and anaerobic digesters into low-carbon RNG, electricity, and green hydrogen.
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UAE-based developer, Masdar has signed a deal to develop a utility-scale solar project in the Republic of Azerbaijan. As per the deal, the company will be responsible for developing, financing, constructing, and operating the plant, which is 9 km northwest of the Alat settlement in Azerbaijan. The implementation agreement for the project was signed in January 2020 by Masdar and the plant is expected to start commercial operations in early 2023.
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The asset management division of Norges Bank, Norway’s central bank has confirmed that it will acquire a 50 per cent stake in the 752 MW Borssele 1 & 2 offshore wind farm located off the coast of the Netherlands developed by Ørsted. Norges Bank Investment Management (NIBM) will acquire the stake for Euro 1.375 billion using no external debt.
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With the rapidly increasing solar PV capacity in the U.S. the volume of modules is also expanding significantly and so is the problem of their safe disposal. There has been a growing awareness regarding the recycling of PV modules either to extract their precious metals or to manufacture new modules once the old ones reach their end of life. These concerns have enabled government- and industry-led discussions, policies, and initiatives on recycling-based resource recovery of PV modules in the U.S.
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The US government has unveiled a plan to install wind farms at sea to provide power to more than 10 million homes by 2030 and thus contribute to efforts against climate change. The plan aims to produce 30 GW of wind power in the country by 2021, according to an official statement. The goal will require investments estimated at more than $12 billion a year along the Atlantic and Pacific coasts.
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The Board of the Green Climate Fund (GCF) has approved Dutch development bank FMO’s proposal to accelerate private and public sector investment in India’s green infrastructure projects. Through the Green Growth Equity Fund (GGEF), managed by EverSource Capital, FMO will invest $137 million in the energy value chain, water, waste and transport sectors that promote low carbon and climate-resilient initiatives, in line with India’s climate objectives and Sustainable Development Goals.
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