UEM Group Berhad, a subsidiary of Khazanah Nasional Berhad, has signed Memorandums of Understanding (MoUs) with local and foreign investors to develop a 1 GW hybrid solar photovoltaic (PV) power plant along with a renewable energy industrial park in Malaysia.
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The East African Power (EAP), a Canadian energy company has announced to build two solar PV power stations in the Democratic Republic of Congo. The two projects of 133 MW each are located in provinces of Katanga (Kolwezi) and Lualaba (Likasi). The company will own 85 per cent stake in these projects.
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GRIDSERVE sustainable energy (GRIDSERVE), a UK-based electric vehicles (EVs) charge point operator, secured funding in green infrastructure of $682 million. The investment facility worth $259.5 million which consists of value added tax worth $21 million
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First Solar, US-based manufacturer of solar modules has announced its plans for an investment of $1.1 billion. The investment intends to build fifth manufacturing facility in United States (US). The company made the move in an effort to increase American production of photovoltaic solar modules
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Two recent laws in the U.S. — the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) — provide historic levels of investment in climate action and low-carbon technologies, including for the development and deployment of clean hydrogen. With over $9.5 billion in funding from the BIL and enhanced tax credits in the IRA, the stage is set for a rapid increase in hydrogen production and use over the next 5-10 years.
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On 10 July 2023, the Council of the European Union approved the European Parliament’s position on a new batteries and waste batteries regulation (‘Batteries Regulation’). The Batteries Regulation is now awaiting its imminent publication in the European Union’s Official Journal before entering into force. The new rules will cover the entire life cycle of all types of batteries sold in the European Union.
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As part of its G20 presidency, India has proposed a Global Biofuel Alliance (GBA) to bring countries together to expand and create new markets for sustainable biofuels. The sharing of best practices, the technical support and the capacity building that the GBA would bring are welcome additions to international efforts to expand sustainable biofuel production and use, a key step to decarbonising transportation and heat services with secure and affordable energy supplies.
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This policy brief focuses on the NZIA and describes and reviews the key elements of the proposal. It also points out obstacles to cleantech reform that the NZIA does not address, in part because these obstacles relate to single market and EU governance failures that require a broader solution. Accordingly, the policy recommendations include both a proposal to revamp the NZIA and a vision for an EU green industrial policy beyond the NZIA.
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Jupiter Power, an energy storage project company has been awarded an order to construct two standalone battery energy storage projects of 160 MW/ 320 MWh capacity in Texas. The company has raised $70 million for setting up these projects
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Botswana Power Corporation (BPC) has invited bids for setting up three solar PV power projects across the country. According to the tender guidelines, the scope of work under the project includes development, financing, construction, operations, and maintenance of the solar PV projects.
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This report focuses on three key aspects that G20 nations should prioritize to establish and accelerate the adoption of green hydrogen. It also provides recommendations on the role of intergovernmental cooperation and fostering strategic cooperation among G20 nations across the identified focus areas and achieve scale, standardization, and collaborative innovation to advance green hydrogen technology deployment.
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ACME Group secured funding of Rs 40 billion for its green hydrogen and green ammonia project in Oman from REC Limited. The funds raised from REC Limited will be used to build the facility’s first phase, to be established at the special economic zone in Duqm, Oman.
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Lithuania-based company PVcase announced that it has raised $100 million in growth capital. The funding aims to expand the market for its platform and extend its capability. With this investment, total funding of the company went over $123 million.
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Nobody could imagine that the load-shedding would resurface in Bangladesh with a vengeance just months after the declaration of 100 per cent electricity access in March 2022. While the ongoing sufferings are due to an energy and power crunch, renewable energy can help Bangladesh manage the situation better in the foreseeable future. But for this, government support is indispensable to expanding renewable energy in Bangladesh.
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Denham Capital has declared the sale of Rio Energy assets to Equinor, a Norway based energy company. The transaction includes the Rio Energy assets, management team platform and trade name. Denham Capital will continue to own 1.1 GW of Rio Energy’s assets despite the asset sale.
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Argentina’s Ministry of Energy has announced the results of the renewable energy generation tender under RenMDI2 programme. There were two categories involved: group 1, with a total capacity of 500 MW and group 2, with a capacity of 120 MW. The ministry has chosen 98 projects totalling 633.7 MW
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Revkor Energy Holdings Inc., a US-based company, and H2 Gemini Technology Consulting GmbH, a German supplier of industrial equipment, have announced plans to construct a solar cell and module plant in Salt Lake City, Utah, the US. The objective of the collaboration is to promote perovskite, graphene, plastic recycling, and innovative tire vulcanisation techniques using its production and research facility in Utah.
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Farizon Auto, a Geely-owned Chinese producer of electric and hybrid trucks, has raised $600 million in a series A fundraising round. Boyu Capital and Yuexiu Industrial Fund led the transaction with participation from Linjiang Industry Group and United Clean Energy of Singapore
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The ACWA Power-led consortium has completed funding for Al-Shuaibah 1 and Al-Shuaibah 2, totalling SR8.3 billion ($2.2 billion) in investment. The main partners in the financing structure, which combines long-term debt and equity, are ACWA Power, Badeel, and Saudi Aramco. Acme Power has a 35 per cent equity position in the projects
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REITs are currently sitting on an embedded asset, their rooftops, parking lots, and garages. Morgan Stanley, in a recently published report identifying the market opportunity for REITs solar development, estimated they control roughly 38.5 billion sq. ft. of solar-appropriate surface area. These spaces are estimated to be capable of generating over 25 percent of all the electricity used in commercial buildings in the United States (roughly 320 GW), or approximately 10 percent of total US electricity sales.
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