Month: December 2024

Masdar grows solar and wind portfolio in Europe 

Masdar grows solar and wind portfolio in Europe 

December 31, 2024 | , , ,

Masdar has expanded its presence in Europe by completing two acquisitions in the Iberian Peninsula. The company along with its institutional partners has acquired Saeta Yield from Brookfield Renewable Partners for an enterprise value of €1.2 billion and an equity value of €696 million. Saeta’s portfolio includes 745 MW of wind assets out of which 538 MW are in Spain, 144 MW are in Portugal, and the rest 63 MW are solar PV assets located in Spain.

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Longroad Energy and Meta ink PPA for solar project in Texas

Longroad Energy and Meta ink PPA for solar project in Texas

December 31, 2024 | , ,

Longroad Energy has inked a long-term Power Purchase Agreement (PPA) with Meta for the entire output produced by the solar project 1000 Mile. It is a 300 MWac solar project located in Yoakum County, Texas. The energy produced from this project will be supplied to the southwest power pool grid. It will contribute to meeting the energy needs of Meta’s data center operations.

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Vistra connects two solar plants to the grid in Illinois

Vistra connects two solar plants to the grid in Illinois

December 30, 2024 | , ,

Vistra has announced the connection of two new utility-scale solar projects in Illinois to the grid. This is done to amend the retirement schedule for its 1,185 MW Baldwin Power Plant in Baldwin, Illinois. The plant, initially set to retire in 2025, will now operate until 2027 while adhering to federal Environmental Protection Agency retirement and pond closure obligations.

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EWEC gives approval for 4.6 GW of renewables projects in Abu Dhabi

EWEC gives approval for 4.6 GW of renewables projects in Abu Dhabi

December 30, 2024 | , , ,

EWEC (Emirates Water and Electricity Company) has announced approval for the allocation of four new sites for renewable energy projects in Abu Dhabi. These sites span approximately 75 square km and are designated for the development of advanced solar photovoltaic (PV) and wind energy facilities. Furthermore, these four sites will have three new solar photovoltaic (PV) plants in Al Faya, Al Khazna, and Al Zarraf, along with a wind farm in Sila.

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Enhancing the Local Environment Through Renewables

Enhancing the Local Environment Through Renewables

December 27, 2024 |

This event convened experts and stakeholders from the energy sector and the conservation community to discuss solutions to harnessing local environmental benefits from renewables, challenges to further adoption and policies to address them. IUCN will presented the latest findings related to local environmental benefits of renewable energy. A panel session with energy/environmental protection/biodiversity conservation experts from selected renewable energy markets shared their insights and best practices.

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EIB and Iberdrola ink €100 million loan for photovoltaic plant in Italy

EIB and Iberdrola ink €100 million loan for photovoltaic plant in Italy

December 27, 2024 | , ,

The European Investment Bank (EIB) and SACE’s Archimede Guarantee-backed Iberdrola have inked a €100 million green loan to construct a photovoltaic plant in Italy. This project is EIB’s first collaboration with Iberdrola under SACE’s Archimede guarantee framework. The plant will have a renewable energy generation capacity of 242.78 MWp sufficient to cater to the needs of approximately 154,000 Italian households.

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JERA-led consortium wins offshore wind project in Japan

JERA-led consortium wins offshore wind project in Japan

December 27, 2024 | , ,

JERA Co., Inc. (JERA), Green Power Investment Co., Ltd. (GPI), and Tohoku Electric Power Co., Inc. (Tohoku Electric) have collaborated to form a consortium led by JERA. The consortium has been selected to operate an offshore wind power project in the Sea of Japan, off the southern coast of Aomori Prefecture. They were selected as operators of the project by Japan’s Ministry of Economy, Trade, and Industry and the Ministry of Land, Infrastructure, Transport, and Tourism. 

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Enlight Renewable Energy secures financing for solar and energy storage projects in US

Enlight Renewable Energy secures financing for solar and energy storage projects in US

December 26, 2024 | , ,

Enlight Renewable Energy Ltd. has secured debt financing for the Roadrunner project located in Arizona, US.  As a part of this debt financing, Enlight through its subsidiary Clenera Holdings LLC, has entered into a $550 million loan agreement with four global banks: BNP Paribas Securities Corp, Crédit Agricole, Natixis CIB, and Norddeutsche Landesbank Girozentrale (Nord/LB). This financing is expected to convert into a $290 million term loan and $320 million in tax equity funding upon the project’s COD.

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Nozomi Energy acquires 312 MW solar projects in Japan

Nozomi Energy acquires 312 MW solar projects in Japan

December 26, 2024 | , ,

Nozomi Energy (an Actis subsidiary) has acquired a portfolio of 12 operational solar projects in collaboration with a Japanese co-investor. These acquired projects comprise operational solar power plants that have a total capacity of 312 MW. These solar plants range from 1 MW to over 60 MW.Furthermore, these projects operate according to the Feed-In-Tariff (FIT) contracts that extend at least until 2040 with an average duration exceeding 17 years.

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LG Energy Solution Vertech to supply 7.5 GWh energy storage to Excelsior Energy Capital

LG Energy Solution Vertech to supply 7.5 GWh energy storage to Excelsior Energy Capital

December 24, 2024 | , ,

LG Energy Solution Vertech has inked a multi-year agreement with Excelsior Energy Capital to deliver 7.5 GWh of fully integrated lithium-ion energy storage projects. These projects will be supported by integration and lifecycle services provided by LG Energy Solution Vertech. Under this agreement, all projects will meet the US domestic content requirements. The first delivery is scheduled for April 2026.

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Low Carbon Contracts Company inks hydrogen contracts in Britain 

Low Carbon Contracts Company inks hydrogen contracts in Britain 

December 24, 2024 | , ,

Low Carbon Contracts Company (LCCC) has inked three hydrogen production contracts under Hydrogen Allocation Round 1 (HAR1). This is part of the British government’s Hydrogen Production Business Model. There are eleven contracts in total and the remaining contacts are expected to be signed early next year. This initial agreement covers the Cromarty, Whitelee, and West Wales projects with a combined operational capacity of 31.8 MW.

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Atlantica acquires 1.1 GW solar and wind projects in US

Atlantica acquires 1.1 GW solar and wind projects in US

December 23, 2024 | , ,

Atlantica Sustainable Infrastructure has completed the acquisition of a development platform in US. The platform includes around 1.1 GW of solar and wind projects under development in the MISO and SPP regions. It also includes projects in Illinois, Colorado, Mississippi, and Texas. Furthermore, with this addition, Atlantica’s development portfolio in the US now comprises approximately 2 GW of solar and wind projects and 8.5 GWh of storage capacity.

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Google and CIP ink 250 MW PPA in Netherlands

Google and CIP ink 250 MW PPA in Netherlands

December 23, 2024 | , , , ,

Copenhagen Infrastructure Partners (CIP) has inked a power purchase agreement (PPA) with Google through its Energy Transition Fund I in the Netherlands. As part of this agreement, Google will purchase 250 MW of wind energy from the Zeevonk project to support its operations in the Dutch region for a period of 15 years. The Zeevonk project is a joint venture between Vattenfall and CIP, integrating offshore wind, solar energy, and green hydrogen production on a large scale. 

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Insights from the US and India for Electricity Open Access in Kenya and South Africa

Insights from the US and India for Electricity Open Access in Kenya and South Africa

December 20, 2024 | ,

Kenya and South Africa have recently started moving toward an open access regime in their electricity sectors, while the US and India have been on this path for over two decades. Open access involves unbundling the generation, transmission, and distribution of electricity to create a more competitive and efficient market. This restructuring facilitates access by independent power producers (IPPs) to the transmission grid, increasing power supply and attracting investment and innovation in the electricity sector.

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Bridging Demand and Financing in the US: Voluntary Offtake in Clean Energy

Bridging Demand and Financing in the US: Voluntary Offtake in Clean Energy

December 20, 2024 |

Offtakers enter into PPAs for either compliance or voluntary purposes: most electric utilities and other load serving entities that sign PPAs do so to comply with state clean energy standards or procurement requirements, whereas many corporates enter PPAs voluntarily to meet their internal sustainability goals. Since the beginning of 2021, corporates have procured over 55 gigawatts (GW) of clean energy through PPAs, which represents approximately half of the overall demand for utility-scale wind, solar, and energy storage projects.

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AMEA Power commissions 500 MW Abydos solar plant in Egypt

AMEA Power commissions 500 MW Abydos solar plant in Egypt

December 20, 2024 | , ,

AMEA Power has commissioned the 500 MW Abydos Solar PV Plant in Egypt, located in the Aswan Governorate. The plant will generate approximately 1,500 GWh of renewable energy annually, offsetting 782,300 tonnes of carbon emissions. This project was completed in 18 months. The Abydos Solar PV Plant was financed by the International Finance Corporation (IFC), the Dutch Entrepreneurial Development Bank (FMO), and the Japan International Cooperation Agency (JICA).

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Neoen secures debt financing for 1.3 GW clean energy assets in Australia

Neoen secures debt financing for 1.3 GW clean energy assets in Australia

December 20, 2024 | , ,

Neoen has secured AUD 1.4 billion in debt financing for 1.3 GW of wind, solar, and storage assets. This has effectively doubled its Australian renewable energy portfolio financing. A group of 11 major Australian and international lenders participated in the transaction. The operating assets being added to the portfolio include three solar farms in New South Wales: Griffith Solar Farm, Parkes Solar Farm, and Dubbo Solar Hub.

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Role of BESS in Achieving 82% Renewables in Australia by 2030

Role of BESS in Achieving 82% Renewables in Australia by 2030

December 19, 2024 | , ,

This extract is from a recent report by Climate Energy Finance. The report highlights the rapid progress in Australia’s electricity sector transition, emphasising that the nation is on track to achieve its ambitious target of 82% renewable energy by 2030. It underscores the pivotal role of sustained investment, strong policy support, and streamlined planning, evaluation, and approval processes. In particular, it highlights the growing importance of Battery Energy Storage Systems (BESS) in ensuring grid stability and supporting the integration of renewable energy into the electricity network.

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Offshore Wind Policy Framework in Germany and Netherlands

Offshore Wind Policy Framework in Germany and Netherlands

December 19, 2024 | , ,

Currently, Germany is one of the world’s largest markets in the offshore wind energy sector. Not only has it the world’s third largest installed offshore wind capacity, but it is also home to several key players in the global market. The Netherlands aims that by 2050 all energy used in the Netherlands comes from sustainable energy sources. In efforts to reach this goal, it is agreed in the Climate Agreement that in 2030 49 TWh (approximately 11 GW) of energy is generated by wind power.

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