Excelsior Energy Capital has announced that it has concluded a financing package of $1.3 billion on the Faraday Solar project in Utah County, Utah. Reportedly, Excelsior acquired Faraday Solar earlier in 2023 from Parasol and Clenera who developed the project. Faraday Solar is a 682.5 MW ground-mounted solar facility. Furthermore, the project is contracted under an investment grade long-term power purchase agreement.
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ACWA Power has launched the first phase of a 3,000 tonne-per-year green hydrogen project in Uzbekistan. Reportedly, the project will be built in two phases. The first phase, a 3,000-tonne green ammonia pilot project, is already underway following the signing of the hydrogen purchase and power purchase agreements in May 2023.
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GreenGo Energy, a Danish clean energy developer has filed an application to the Ministry of Petroleum, Energy and Mines in Mauritania for the development of Megaton Moon green energy park. Furthermore, Megaton Moon is planned for a staged implementation process closing the circular architecture to reach 60 GW/ 190 TWh of hybrid solar and wind generation and 35 GW electrolysis producing 4 million tons of green hydrogen yearly or further processed 18 million tons of green ammonia.
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Octopus Energy’s generation arm has invested in the Walney Extension offshore wind farm in the UK. It is located in the Irish Sea off the coast of Barrow-in-Furness in the north west of England. Octopus has taken a 12.5 per cent stake in the 660 MW wind farm. The wind farm is made up of 87 turbines each taller than the 158 metres high Blackpool tower.
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Sembcorp Industries (Sembcorp) has signed two separate agreements to acquire a total of 428 MW of wind assets in China and India. Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co Ltd, has signed an agreement with Envision Energy Co Ltd to acquire 100 per cent of the share capital in Qinzhou Yuanneng Wind Power Co. Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately $130 million.
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The Finnish government adopted a resolution on launching an auction procedure concerning offshore wind power sites located in the public water areas of Finland. The offshore wind power sites to be auctioned are located in public water areas governed by Metsähallitus in the regions of Ostrobothnia and North Ostrobothnia.
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Statera Energy, a UK based energy storage and flexible generation developer and operator, has secured up to £300 million of debt financing through a syndicate led by Lloyds Bank. The first £144 million phase of the financing will be used to deliver Statera’s 300 MW (600 MWh) Thurrock Battery Energy Storage System (BESS).
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The Latin America Energy Outlook, the International Energy Agency’s first in-depth and comprehensive assessment of Latin America and the Caribbean, builds on decades of collaboration with partners. In support of the region’s energy goals, the report explores the opportunities and challenges that lie ahead. It provides insights on the ways in which the outlook for the region and the biggest global energy trends are deeply intertwined.
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The data produced through this exercise is a key input to the EPA’s annual Greenhouse Gas Emissions Projections. The projections presented in this report are the result of the 2023 national energy and climate modelling cycle, which culminated in the EPA projections published in June 2023. A new modelling cycle for 2024 began in September 2023 and will produce a new set of projections in early 2024.
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USAID Power Africa and Open Capital helped 30 companies across 17 African countries to develop robust finance functions. Lasting three to six months, this tailored assistance aided the companies to evaluate, plan, and analyze their finances; manage their risks; become more investment ready; and handle transactions. Power Africa and Open Capital also helped the companies gain access to capital and enhance the skills of their finance teams.
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Masdar has collaborated with Emirates Steel Arkan, an Abu Dhabi-based steel and building materials manufacturer, to create an innovative green steel project. The success of this project has far-reaching implications that will decarbonize the UAE’s challenging steel sector. The pilot initiative is the region’s first of its sort in the Middle East and North Africa. The project is presently in the installation stage and is situated in the Emirates Steel Arkan production facilities in the Industrial City of Abu Dhabi.
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2023 ASEAN Energy Statistics Leaflet (AESL) provides comprehensive visualised snapshots of the energy landscape in ASEAN. These include primary energy supply, final energy consumption, electricity, renewable energy, energy-gender, and other energy-related indicators. Data sources of AEDS are the official submission from ASEAN Member States, complemented with reports from government agencies and international organisations.
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Metsähallitus and Vattenfall have agreed to expand the Korsnäs Offshore Wind Farm project. Vattenfall became a Metsähallitus project partner for the wind project in December 2022 when it won an extensive international tendering process. A new regional plan is being prepared for the region of Ostrobothnia where the wind farm will be located.
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European Energy, a Danish renewable energy company has divested two solar farm projects to Sosteneo SGR in Italy. The total capacity of these renewable energy projects is 231 MW, and both are situated in Sicily. The first agreement, concerning a 68 MW solar farm in Ramacca covering an area of 135 hectares, was closed in September 2023.
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This is an extract from a recent report “Net Zero Readiness Report 2023” prepared by KPMG. The Net...
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A new clean energy partnership between the UK and the Republic of Korea (RoK) has been agreed to boost energy security and accelerate the clean energy transition. The partnership was signed in London by the Energy Security Secretary and RoK’s Minister for trade, industry and energy.
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Grenergy has unveiled its growth plans, closely linked to its strategic commitment to energy storage, which is key to advancing the decarbonisation of the energy system for a green and sustainable future. As part of the event, the company announced an investment of €2.6 billion until 2026. Of the total, €1.5 billion will be allocated to the development of its portfolio of photovoltaic projects and €800 million to boost battery storage.
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Statkraft has concluded an agreement for the purchase of Enerfin, a Spanish renewable energy company. The transaction has an estimated enterprise value of €1.8 billion, including equity and debt, subject to customary adjustments at completion. Furthermore, Enerfin’s renewable energy platform includes 1.5 GW in operation and under construction.
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Swift Current Energy has announced that New York State Energy Research and Development Authority (NYSERDA) has awarded its Mineral Basin Solar project a 20-year power contract. Mineral Basin Solar is the largest land-based energy project to be selected as a part of NYSERDA’s competitive solicitation.
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Netherlands has strong ambitions and national net zero policies, but is seeing significant implementation problems. Germany needs to find ways to increase clean electricity and housing efficiency. Italy has strengths in energy efficiency and it plans to become a hub for green hydrogen, but there are difficulties in gaining authorizations to develop new power generation and renovate homes.
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