Month: February 2025

Eku Energy bags service agreement for 100 MW BESS project in New South Wales

Eku Energy bags service agreement for 100 MW BESS project in New South Wales

February 28, 2025 | , ,

Eku Energy has secured a NSW long duration storage long-term energy service agreement from AEMO Services.  The agreement is for a 100 MW/ 800 MWh Griffith battery energy storage system (BESS) in Yoogali, within the Griffith local government area (LGA) of New South Wales. The project will provide an eight-hour-duration storage capacity to store excess renewable energy and dispatch it during periods of high demand.

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Arevon Energy completes $258 million financing for 200 MW BESS project in California

Arevon Energy completes $258 million financing for 200 MW BESS project in California

February 28, 2025 | , ,

Arevon Energy has completed financing for its 200 MW/ 400 MWh Peregrine energy storage project. Peregrine is a battery energy storage system (BESS) project located in the Barrio Logan community of San Diego, California. Arevon secured a $179 million debt package for the project, which will serve as a bridge to a preferred equity and tax credit transfer takeout. Furthermore, Santander acted as the administrative agent and coordinating lead arranger, along with CoBank and ACB, for the project.

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Achieving 500 GW of Renewables in India: EMBER

Achieving 500 GW of Renewables in India: EMBER

February 28, 2025 | , , , , ,

This report “Navigating risks to unlock 500 GW of renewables by 2030” by EMBER highlights key challenges in India’s renewable energy (RE) sector that could increase the cost of capital, potentially hindering the sector’s growth. Addressing these risks through targeted policy measures, innovative contracting mechanisms and proactive expectation management is crucial for maintaining a steady flow of investments. Collaborative efforts from project developers, financiers and policymakers will be indispensable in mitigating these risks and ensuring the successful realisation of India’s ambitious RE targets.

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Grid Enhancing Technologies in US: Report

Grid Enhancing Technologies in US: Report

February 28, 2025 | , ,

US electricity demand is projected to grow nearly 16% by 2029, putting new urgency behind the need for grid upgrades and the addition of new generation resources. The surge in renewable energy projects aiming to connect to the grid has highlighted longstanding transmission capacity challenges. Total U.S. transmission capacity must expand 2.7–4.1 times the 2020 level. A modernized approach to grid planning and operation is critical in order to safely, reliably, and affordably meet the electricity demands of the future. Grid Enhancing Technologies (GETs) can play a critical role in grid modernization by optimizing the efficiency of existing infrastructure and unlocking unused capacity.

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China’s Green Power Procurement Market Outlook: Report

China’s Green Power Procurement Market Outlook: Report

February 28, 2025 | , ,

In pursuit of the overarching target of accelerating the construction of the New Power System, China’s installed capacity of wind and solar power has sustained rapid growth. By the end of the third quarter of 2024, the total installed capacity of wind and solar power reached 1.25 TW, exceeding the 2030 target ahead of schedule and surpassing the installed capacity of coal power. Meanwhile, power market reforms have been advancing steadily, which has prompted corporations to improve their green power procurement strategies and actively seize opportunities. The ability of spot markets to effectively discover energy prices has been further enhanced.

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EU’s Strategy to Tackle Hydrogen Emissions: Paper

EU’s Strategy to Tackle Hydrogen Emissions: Paper

February 28, 2025 | , , ,

Hydrogen (H2) is an indirect greenhouse gas (GHG). While H2 emissions make up a negligible fraction of today’s GHG emissions, they are set to become more significant in the 2030s and, should the EU and the global community progress towards climate neutrality, will likely be substantial in the 2040s, as achieving climate neutrality requires the expansion of hydrogen use alongside the rapid reduction of other GHGs. This paper explores how the EU can address H2 emissions using a four-pronged strategy.

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BOOM Power secures co-investment partnership with Topsun for solar farm in UK

BOOM Power secures co-investment partnership with Topsun for solar farm in UK

February 27, 2025 | , ,

BOOM Power has secured a co-investment partnership with Topsun, a South Korean investor for the Low Farm Solar Farm. The project is located in the north of Flockton and east of Overton near Wakefield, West Yorkshire England. It is expected to generate up to 49.9 MW of low-carbon electricity for the local distribution network. Furthermore, as an equity holder, BOOM Power will oversee the construction of the Low Farm Solar Farm. Work on the project is scheduled to begin in 2025 and commercial operations will commence in 2026.

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CIP acquires 480 MW Morecambe offshore wind project in UK

CIP acquires 480 MW Morecambe offshore wind project in UK

February 27, 2025 | , ,

Copenhagen Infrastructure Partners (CIP) through its fund  Copenhagen Infrastructure V (CI V) has inked a transaction to fully acquire Morecambe fixed bottom offshore wind project. Morecambe has a capacity of 480 MW and was earlier owned by COBRA Group and Flotation Energy. The project is situated on the west coast of England. Furthermore, Flotation Energy will continue to serve as the development partner for the project. The project will become a part of CIP’s CI V Flagship Fund which has a target fund size of €12 billion.

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AMEA Power to develop 1500 MWh of BESS projects in Egypt

AMEA Power to develop 1500 MWh of BESS projects in Egypt

February 26, 2025 | , ,

AMEA Power has inked an agreement with the Egyptian Electricity Transmission Company (EETC) to develop two standalone battery energy storage systems (BESS). These systems will have a combined capacity of 1500 MWh. As part of this agreement, AMEA Power will construct a 500 MWh station in Benban and a 1000 MWh station in Zafarana. Furthermore, this project also consists of substations and grid connections for efficient integration of stored energy into the national electricity network.

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Bluefield Solar completes £300 million refinancing for solar projects

Bluefield Solar completes £300 million refinancing for solar projects

February 26, 2025 | , ,

Bluefield Solar Income Fund has completed the refinancing of approximately £300 million as part of its management of 359 MW portfolio of solar PV assets. This solar portfolio is jointly owned with GLIL Infrastructure (GLIL). This refinancing replaces approximately £214 million of existing inflation-linked debt on the solar PV portfolio, with approximately £297 million of fixed-rate debt at an all-in rate of 5.8 per cent. Furthermore, Bluefield Solar has over 25 per cent share in the jointly owned portfolio whereas GLIL owns the remaining share.

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Akaysha Energy and Gunvor Group ink offtake agreement for BESS project in Australia

Akaysha Energy and Gunvor Group ink offtake agreement for BESS project in Australia

February 25, 2025 | , ,

Akaysha Energy has inked a long-term offtake agreement with Gunvor Group for its large-scale battery energy storage system (BESS) project. The agreement includes a risk-hedging offtake product known as a battery revenue swap agreement which will ensure revenue certainty for the project. The project is currently under construction and is expected to begin operations by 2026. It will be able to charge from excess solar generation and store enough energy to power approximately 200,000 homes for up to two hours.

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Pacific Green divests 100 per cent stake in BESS project in Australia

Pacific Green divests 100 per cent stake in BESS project in Australia

February 25, 2025 | , ,

Pacific Green has inked binding documents to sell 100 per cent of its shares in the Limestone Coast North Energy Park to Intera Renewables. This transaction is valued at $ 293 million. The Limestone Coast North Energy Park is a 250 MW/ 500 MWh battery energy storage system (BESS) project located at the Limestone Coast region of South Australia. Furthermore, as part of this transaction, Pacific Green will be retained to manage the project’s construction until it reaches commercial operations.

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OCI Energy and Arava Power form JV to develop Texas solar project

OCI Energy and Arava Power form JV to develop Texas solar project

February 24, 2025 | , ,

OCI Energy and Arava Power have formed a joint venture (JV) to develop a 260 MWac solar farm. This project is called SunRoper and is situated in Wharton County, Texas. The project will provide clean energy to a region with one of the highest electricity demands in Texas and US. Furthermore, the solar farm will utilise the expertise of the two companies to help reduce emissions and provide affordable electricity. It will also support local economic growth through job creation and other investments in the region.

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Salzgitter AG lays cornerstone for 100 MW green hydrogen plant in Germany

Salzgitter AG lays cornerstone for 100 MW green hydrogen plant in Germany

February 24, 2025 | , ,

Salzgitter AG has laid the cornerstone for a 100 MW electrolysis plant for green hydrogen in Europe. The plant will generate approximately  9,000 tonnes of green hydrogen annually for the production of carbon-reduced steel from 2026. This also marks the beginning of the industrial use of hydrogen in SALCOS which stands for Salzgitter Low Carbon Steelmaking. This is a programme by Salzgitter aiming for virtually carbon-free steel production. Furthermore, this electrolysis plant will be built on an engineering, procurement, and construction basis by ANDRITZ.

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Five Key Priorities to End Fossil Fuel Subsidies in Canada

Five Key Priorities to End Fossil Fuel Subsidies in Canada

February 24, 2025 |

To fully eliminate fossil fuel subsidies, Canada must start by publishing a comprehensive inventory of all financial supports to the sector—whether or not they are labelled as “efficient”—and update it regularly. This should include clear timelines for phasing out existing supports, such as those highlighted above. Canada should also move beyond qualifying terms and address all forms of financial support to the fossil fuel industry. This should go hand-in-hand with tackling domestic public finance for fossil fuels from Canadian crown corporations, amounting to at least CAD 7.6 billion to CAD 13.5 billion annually in recent years. Moreover, Canada can support a wider shift in financial flows to drive the energy transition, such as through strong, sustainable finance regulations for the private sector and encouraging pension funds to align their portfolios with credible net-zero scenarios.

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Some California Oil Refineries See a Future in Biofuels. Here’s Why That’s Problematic.

Some California Oil Refineries See a Future in Biofuels. Here’s Why That’s Problematic.

February 24, 2025 |

The uptick in petroleum refineries converting to bio-based diesel production in California raises a series of questions and uncertainties. This holds true even as the limited supply of waste feedstocks, the negative climate impacts of utilizing virgin vegetable oil, and the future of the RFS might disincentivize further conversions.  Currently, the excessive incentivization for biofuels risks slowing the necessary move away from liquid fuels while also driving global land-use change and greenhouse gas emissions. As California strives to achieve its decarbonization targets, policymakers must carefully consider these implications. Developing a transition roadmap that holistically considers the various environmental and social impacts of different transition pathways is an important next step.

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Ireland’s Renewable Energy Policy Review

Ireland’s Renewable Energy Policy Review

February 24, 2025 | , ,

To reach the 80% renewable generation target by 2030, Ireland plans to have 22 GW of renewable electricity capacity installed, up from 6 GW at the end of 2023. Specifically, Ireland has set targets to achieve the deployment of 9 GW of onshore wind, 8 GW of solar PV and at least 5 GW of offshore wind capacity by 2030. Beyond 2030, Ireland expects offshore wind to account for the dominant share of new renewable capacity additions; however, further deployment of new and repowered onshore wind and solar is expected throughout the 2030s.

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Can China can replicate its success in solar with electrolyzers?

Can China can replicate its success in solar with electrolyzers?

February 24, 2025 |

China’s manufacturing prowess and progress in lowering electrolyzer costs have raised hopes – and concerns – about its potential to lead electrolyzer manufacturing and exports globally, accelerating the clean energy transition worldwide. The dramatic cost reductions achieved in solar photovoltaics (PV) and China’s subsequent dominance of these supply chains are often cited as an example of how things might play out in the hydrogen space. This paper explores whether China can replicate its success in solar with electrolyzers, considering government support, learning rates of PV and electrolyzers, Chinese corporate strategies, and the external environment for exports.

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Enefit Green and Sumitomo Corporation partner for offshore wind project in Baltic Sea

Enefit Green and Sumitomo Corporation partner for offshore wind project in Baltic Sea

February 21, 2025 | , ,

Enefit Green and Sumitomo Corporation have inked an agreement to partner for the development of the Liivi Bay offshore wind farm in the Gulf of Riga in the Baltic Sea. Under this agreement, Enefit Green will sell 50 per cent stake in Liivi Offshore OÜ to Sumitomo Corporation. Liivi Offshore OÜ is the project company for this offshore wind farm. The wind farm is expected to consist of up to 84 turbines with a maximum total capacity of 1000 MW. Its estimated annual electricity generation could reach up to 4 TWh.

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EDPR NA launches 100 MW solar park in Mississippi

EDPR NA launches 100 MW solar park in Mississippi

February 21, 2025 | , ,

EDP Renewables North America (EDPR NA) has launched the 100 MW Ragsdale Solar Park (Ragsdale) in Madison Country, Mississippi. The project became operational in the fourth quarter of  2024 and will supply power directly to Entergy Mississippi’s transmission system. This project will provide sufficient energy to power around 15,700 homes in Mississippi annually. Furthermore, Amazon has contracted for entire 100 MW capacity of the project through a 15-year power purchase agreement (PPA).

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