Canadian Solar Inc. revealed plans to construct a 5 GW annual production capacity solar photovoltaic (PV) cell manufacturing factory in Indiana. Reportedly, the $800 million facility will be set in Jeffersonville’s River Ridge Commerce Center and will manufacture solar cells for the company’s module assembly plant in Mesquite, Texas.
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Statkraft AS has declared that it has purchased two companies having pipelines over 37 GW of onshore and offshore wind projects in Sweden. The company has purchased onshore wind company Svevind Nordic AB, part of Dresden-based Svevind Energy Group, and Swedish-Norwegian joint venture (JV) Njordr Offshore Wind AB.
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Adani Energy Solutions Limited (AESL) has successfully commissioned the Karur transmission project for the evacuation of 2,500 MW of energy from clean sources. The project is located in Karur/Tiruppur wind energy zone of Tamil Nadu, India. The project involves the establishment of a 400/230 kV, 1,000 MVA pooling station and a corresponding transmission line that covers a distance of 8.51 circuit kms.
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Engie Brasil Energia SA has inked an agreement to purchase solar power plants in Brazil with an overall installed capacity of 545 MW from Atlas Renewable Energy. Reportedly, Engie will acquire Atlas Energia Renovavel do Brasil SA and Atlas Brasil Energia Holding 2 SA for about €618 million. The two targets possess five photovoltaic (PV) plants in the states of Bahia, Ceara, and Minas Gerais.
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The US Department of Energy’s (DOE’s) Grid Deployment and Wind Energy Technologies Offices (GDO and WETO) and the US Department of Interior (DOI) Bureau of Ocean Energy Management (BOEM) jointly released ‘An Action Plan for Offshore Wind Transmission Development in the U.S. Atlantic Region’. It comprises a set of bold actions to catalyse OSW energy and strengthen the domestic supply chain.
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Based on the European Commission’s Impact Assessment drafted ahead of the launch of the Fit-for-55 Package, to achieve 40% renewable energy by 2030 it was estimated that the EU would need 453 GW of wind energy capacity (374 GW onshore and 79 GW offshore wind). According to the Commission’s assessments made after the publication of the REPowerEU plan, increasing the renewable energy target to 45% by 2030 would mean a revised ambition of 510 GW of total wind energy (an additional 57 GW).
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According to CPI’s estimates, the global climate finance flows in 2021 reached about $850 billion, a 28 per cent year-on-year increase from 2020. The investment continued to rise, reaching $1 trillion in 2022. The rate of climate investment is lower than expected as these flows need to increase by 625 per cent by 2030 to meet the Paris Agreement goals. According to the report, with each year of inaction, this gap will continue to widen, leading to increased physical, financial and social risks.
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Eolus Vind AB, Swedish renewables developer, disclosed that it has submitted an application for a permission to build an up to 1,400 MW offshore wind farm off Sweden’s southern coast. The Arkona wind farm, which Eolus intends to erect between 50 and 70 bottom-fixed turbines, would be situated in Sweden’s economic zone, roughly 22 km south of the coast of Skane County.
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Masdar has finalised investment deals for onshore wind and solar projects with an overall capacity of 1 GW in Azerbaijan. Reportedly, the agreements follow the opening of Masdar’s 230 MW Garadagh solar power facility in Azerbaijan and involve one onshore wind and two solar projects.
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The report also gathers initial information that can inform US policy makers in their quest to “internationalize” the Inflation Reduction Act. This report reflects the information available at the one-year mark of the Inflation Reduction Act. The intention is to highlight both to facts that may cause alarm on the EU side, and to those findings that show less dramatic or even beneficial outcomes of the law for EU businesses.
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West Africa has abundant renewable energy resources – including solar, wind and hydropower – that could be leveraged for economic development. Improving cross-border energy trade and interconnections could help increase access to reliable and affordable power for people and businesses in the region. The development of renewable energy projects in West Africa could also attract foreign investment, create jobs and support the growth of local industries.
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Smart grid can help ASEAN integrate more renewable energy, particularly solar and wind, so as to meet the target share of the renewables in the energy mix. Most of the ASEAN Member States have established a smart grid roadmap, with the majority focusing on installing the necessary infrastructures and systems, such as advanced metering infrastructure and energy management systems.
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ACWA Power has inked a MoU with Zenith Energy Terminals, GasLog, and the Port of Amsterdam to investigate the feasibility of establishing a green hydrogen export corridor between ACWA Power’s global hydrogen production sites and the Port of Amsterdam. The MoU was executed by the companies on October 23, 2023, during the Saudi-EU Investment Forum in Riyadh.
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Sonnedix has concluded the $556 million purchase of a 416 MW solar portfolio in Chile from Enel Chile. The company has purchased Arcadia Generacion Solar, a company that manages a portfolio of four active solar power projects. Reportedly, the deal was finalised following permission from the Chilean antitrust authority, Fiscalía Nacional Económica, and was initially revealed in July 2023.
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DP Energy has obtained permission for development of its 430 MW Callide wind farm from the Australian state of Queensland’s Assessment Referral Agency. The wind farm is situated in the Calliope range, approximately 75 km from Gladstone and 22 km from Biloela and it has 70 turbines, each having a capacity of 5 to 6 MW. Every turbine has a 250 metre tip height.
Read MoreThe South Australian government has picked the potential winners in a tender that will allow the development of a 250 MW electrolyser and hydrogen storage plant in a $374 million hub near Whyalla. Reportedly, the Australian state government declared a consortium of international gas and engineering massive corporations – Atco Australia and BOC.
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The Indian Cabinet Committee on Economic Affairs has given its approval for the second phase of the inter-state transmission system connected Green Energy Corridor (GEC) project, which involves a 13 GW renewable energy project. The project is situated in Ladakh. The project will be established by the fiscal year 2029-30, with a total estimated cost of Rs 207.73 billion. Additionally, it will receive 40 per cent of the project cost as central financial assistance (CFA), equaling Rs 83.09 billion.
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Lightsource bp has commenced commercial operations at the 135 MW Conway Solar at Happy project in White County, Arkansas, US. The solar farm is situated on 700 acres near the village of Happy, Arkansas, and is 88.5 km from the state capital, Little Rock. Overall, the project will provide enough sustainable energy to power 21,000 US homes.
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Innergex Renewable Energy has received a $322.7 million tax equity investment for its 329.8 MW Boswell Springs wind project in the US state of Wyoming, which is now under development. Reportedly, JP Morgan, Capital One, and Innergex completed the upfront tax obligation. According to the agreement, the shareholders will make cash payments when the project generates production tax credits over a ten-year period.
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The revision of the Strategic Energy Technology (SET) Plan, will help harmonise the original SET Plan strategic objectives with the European Green Deal, REPowerEU Plan and the Green Deal Industrial Plan – notably, the Net-Zero Industry Act. It will ensure a coordinated approach towards achieving Europe’s decarbonisation goals, supporting strategic net-zero technologies, and building a sustainable and resilient energy future and industrial competitiveness.
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