Year: 2023

<strong>Amazon procures record 8.3 GW of clean energy in 2022</strong>

Amazon procures record 8.3 GW of clean energy in 2022

February 2, 2023 |

Amazon has recently announced that in 2022 it grew its renewable energy capacity by 8.3 GW through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. With these continued investments, reportedly, Amazon set a new corporate record for the most renewable energy announced by a single company in one year.

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<strong>Eunice Energy and McDermott sign MoU for 2 GW interconnector project</strong>

Eunice Energy and McDermott sign MoU for 2 GW interconnector project

February 2, 2023 |

Eunice Energy Group, a Greek energy company, has signed a memorandum of understanding (MoU) with McDermott to collaborate on the Greece-Africa Power (GAP) Interconnector project. The engineering and construction guidance for the 2 GW electrical interconnection between Egypt and Greece will be provided by Mcdermott. Egypt will be able to export surplus energy to Europe with the help of the 2 GW interconnectors, and Greece will be capable of selling locally produced green energy to Italy and the Balkans.

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<strong>Australia, Netherlands sign MoU on green hydrogen</strong>

Australia, Netherlands sign MoU on green hydrogen

February 2, 2023 |

Australia and the Netherlands have signed a memorandum of understanding (MoU) to collaborate on the construction of a green hydrogen supply chain from Australia to Europe via the Port of Rotterdam. During Australia’s Minister for Climate Change and Energy, Chris Bowen’s visit to Europe, the MoU was signed between him and the Netherlands Minister for Climate and Energy. This expands on existing agreements between many Australian jurisdictions and the Dutch port.

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What Happens When Utilities Start to Integrate the IRA into Planning?

What Happens When Utilities Start to Integrate the IRA into Planning?

February 2, 2023 |

The passage of the Inflation Reduction Act (IRA) was one of the climate highlights of 2022. As we enter 2023, our attention shifts toward implementation — and uncovering what’s possible when regulators and utilities leverage the full set of resources the IRA offers to accelerate an equitable energy transition. One of the places we expect to see changes emerge as a result of the IRA is in utility integrated resource plans (IRPs). IRPs are where utilities evaluate their long-term options for meeting energy needs, such as when to retire existing resources and what to build next.

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Promoting Renewables: Uptake of clean energy in Maldives

Promoting Renewables: Uptake of clean energy in Maldives

February 2, 2023 |

The Maldives has been naturally bestowed with abundant renewable energy resources that include solar, wind, and ocean. Utilisation of these renewable energy sources will offer the potential to reduce electricity generation costs, fuel imports and fiscal burden on the government in the country. According to data by the International Renewable Energy Agency, the share of renewable energy in the total energy mix of Maldives is just 6 per cent.

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<strong>Iberdrola receives environmental permit for 1.2 GW solar farm in Portugal</strong>

Iberdrola receives environmental permit for 1.2 GW solar farm in Portugal

February 1, 2023 |

Iberdrola, a Spanish power utility, has received environmental permissions for the 1.2 GW Fernando Pessoa solar project in Portugal. The Fernando Pessoa project is said to be the fifth-largest solar photovoltaic plant in the world and is situated at Santiago do Cacém, near Sines. It will feature Prosolia Energy as a partner and is anticipated to go operational in 2025. During the construction phase, the Fernando Pessoa project will provide up to 2,500 jobs in the region.

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<strong>FRV secures $75.1 million of financing for two BESS projects in the UK</strong>

FRV secures $75.1 million of financing for two BESS projects in the UK

February 1, 2023 |

Fotowatio Renewable Ventures (FRV), a Spanish energy company, has reached financial close on two of its battery energy storage system (BESS) projects in the UK. The two projects, Clay Tye and Contego, will be built in Essex and West Sussex, respectively. Under the project finance modality, FRV secured a $75.1 million financing package from Natixis CIB UK, which will cover more than 60 per cent of the total cost of the projects. 

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<strong>SUSI Partners to construct renewable assets in South-East Asia</strong>

SUSI Partners to construct renewable assets in South-East Asia

February 1, 2023 |

SUSI Partners, a Swiss investment firm, has launched a renewable energy platform to develop renewable energy assets in South-East Asia through its Asia Energy Transition Fund (SAETF). The platform will focus on constructing, developing, and operating utility-scale wind, hydro, and solar photovoltaic (PV) assets. In partnership with local developer Pacific Impact, SUSI’s platform will develop the projects in the South-East Asian markets of the Philippines, Vietnam, Indonesia, Cambodia, and others.

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Fundamentals of Electric Vehicles: NREL Presentation

Fundamentals of Electric Vehicles: NREL Presentation

February 1, 2023 | ,

This slide deck was developed for and presented at an Energy Fundamentals Course hosted by the Bangladesh University of Engineering and Technology (BUET). The National Renewable Energy Laboratory (NREL) helped organize this course in partnership with the United States Agency for International Development (USAID). While some of the content in the slide deck is tailored to Bangladesh specifically, this presentation is intended to be a general primer on electric vehicles that can be utilized for similar purposes by other universities or organizations throughout the world.

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Coal Cost Crossover and Renewables Uptake in US: Report

Coal Cost Crossover and Renewables Uptake in US: Report

February 1, 2023 | ,

The latest Coal Cost Crossover research finds incentives in the Inflation Reduction Act accelerate this trend – 99 percent of all U.S. coal plants (209 out of 210) are now more expensive to run than replacement by new local solar, wind, or energy storage. Replacing coal plants with local wind and solar would also save enough to finance nearly 150 gigawatts of four-hour battery storage, over 60 percent of the coal fleet’s capacity, and generate $589 billion in new investment across the U.S.

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EU climate foreign policy in 2023: Briefing

EU climate foreign policy in 2023: Briefing

February 1, 2023 | ,

The EU has a key role to play in driving the global climate transition. To do so, the EU needs a strong mandate for climate foreign policy that addresses the current polycrisis environment. The EU’s call for a global coal phase-out, coming out of the 2021 Foreign Affairs Council (FAC), paved the way for a global coal phase-down commitment at the climate conference COP26. However, this year’s climate diplomacy EU Foreign Affairs Council takes place in a different context.

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Financing a world scale hydrogen export project: Paper

Financing a world scale hydrogen export project: Paper

February 1, 2023 | ,

It is anticipated that green hydrogen will require government support for the next 15-20 years and that green hydrogen export projects will have to compete, largely on delivered price, to supply the demand created by the importing government programmes.  Efficient project financing, both debt and equity, can play an important part in minimising the cost. This paper by Oxford Institute for Energy Studies considers a 1GW archetype project, using solar power to export green hydrogen in the form of green ammonia, and considers the key issues that will impact its ability to attract low-cost debt.

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<strong>NSW shortlists 4.3 GW of wind, solar and storage projects in first renewables auction</strong>

NSW shortlists 4.3 GW of wind, solar and storage projects in first renewables auction

January 31, 2023 |

The government of New South Wales (NSW) has shortlisted 16 projects for its first renewable tender auction in Australia. The projects’ combined power generation and long-term storage capacity total more than 4.3 GW. They were selected in line with the NSW Electricity Infrastructure Roadmap, which aims to build 2 GW of duration storage and at least 12 GW of renewable capacity in the state by 2030.

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<strong>OX2 to construct 1.4 GW offshore wind farm in Finnish economic zone</strong>

OX2 to construct 1.4 GW offshore wind farm in Finnish economic zone

January 31, 2023 |

OX2, a Swedish renewable project developer, has begun construction on the Tyrsky offshore wind farm in the Gulf of Bothnia, near Finland. The 1.4 GW offshore project will be situated about 30 km north-west of Kaskinen in the Finnish Economic Zone, southwest of Vaasa. It will be equipped with 100 wind turbines and will be capable of producing 6 TWh of renewable energy per year. The Finnish government granted OX2 a research permit for the Tyrsky wind farm in 2022.

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<strong>GreenGo Energy to develop Megaton green energy park in Denmark</strong>

GreenGo Energy to develop Megaton green energy park in Denmark

January 30, 2023 |

GreenGo Energy, a Danish company, has teamed with the municipality of Ringkbing-Skjern to develop a 4 GW green energy park. The Megaton project, located in the municipality of Ringkbing-Skjern, will be constructed at the upcoming Stovstrup substation east of Tarm. Its construction will require an investment of $8.7 billion in total. In addition to a 2 GW offshore wind project that GreenGo intends to develop, the 4,000 ha Megaton energy park will also include onshore solar and wind projects.

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Equinor, bp bid to expand offshore wind project off New York

Equinor, bp bid to expand offshore wind project off New York

January 30, 2023 |

Equinor and BP have joined forces to bid in New York’s third offshore wind solicitation (NY3), having submitted a request to the New York State Energy Research and Development Authority (NYSERDA). The companies will compete in the NYSERDA auction for the Beacon Wind II lease area, which has more than 1.3 GW of potential clean energy capacity. Beacon Wind II, located 60 miles from the Long Island coast, has the capacity to provide clean energy to over one million homes in New York while creating ‘thousands’ of employment in the region.

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<strong>RWE, PPC partner to develop solar projects in Greece</strong>

RWE, PPC partner to develop solar projects in Greece

January 30, 2023 |

RWE and PPC Renewables have collaborated to build more than 200 MW of solar capacity in Greece, speeding the country’s energy transition. RWE and PPC have made the final investment decision on five solar photovoltaic (PV) projects through their joint venture company Meton Energy. The five solar PV projects, totaling 210 MWp (175 MWac), will be built in the Western Macedonia region of northern Greece.

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Reactive Power Management for Renewable Energy Integration

Reactive Power Management for Renewable Energy Integration

January 30, 2023 |

The increased injection of renewables causes voltage fluctuations in the gr­id, causing harmonics, flicker ph­e­nomena, unbalanced loads and power oscillation, thus impacting pow­er quality and power transfer capability. There­fore, reactive power management is crucial to ensure grid stabilisation, enable voltage management and maintain po­wer quality. Reactive power ma­na­geme­nt reduces voltage fluctuations and im­proves the stability of AC systems.

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Expanding the US Grid: DOE announces USD13 billion BIL funding for transmission

Expanding the US Grid: DOE announces USD13 billion BIL funding for transmission

January 30, 2023 |

The Biden Administration has been working on advancing transmission buildout to deliver 100 per cent clean electricity by 2035 and reducing greenhouse gas emissions to 50-52 per cent below 2005 levels by 2030. To support these goals, huge dedicated federal funding allocations have been made for grid modernisation under the Bipartisan Infrastructure Law (BIL), enacted as the Infrastructure Investment and Jobs Act (IIJA) in November 2021.

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UK signs agreements for six offshore wind projects

UK signs agreements for six offshore wind projects

January 30, 2023 |

In a major milestone for the UK’s energy security and net zero commitments, The Crown Estate announced that it has signed Agreements for Lease for six offshore wind projects which could begin to generate green electricity by the end of the decade and have the potential to generate c.8GW of renewable electricity, enough for more than seven million homes. Signing these agreements represents a significant moment in the UK’s response to climate change and energy security, and further bolsters the country’s thriving offshore wind industry, reinforcing its position as the second largest offshore wind energy generator in the world.

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