New York Governor Andrew M. Cuomo announced an expansion of the Clean Energy Standard as approved by the New York State Public Service Commission. With this, the state has the authority to issue Request for Proposals for renewable power deployment so as to help in achieving the goals laid out in New York’s Climate Leadership and Community Protection Act, or CLCPA.
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Oslo-based leading independent renewable power producer, Scatec Solar, has signed a binding agreement with the Norwegian Investment Fund for Developing Countries (Norfund) to acquire 100 per cent of the shares in SN Power.
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US-headquartered Array Technologies has announced an upsized initial public offering of 47,500,000 shares of its common stock. The shares are being offered at a price of $22.00 per share to the public, thereby raising $1.05 billion in total.
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One of India’s leading foreign investors in the power sector, CLP Group’s wind energy arm in India, CLP Wind Farms (India) has raised Rs 2,960 million through the issuance of rated, secured, unlisted, redeemable and non-convertible debentures. The green bonds will be issued in two tranches of Rs 1,969 million and Rs 1,000 million.
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Statkraft is implementing a 519 MW wind power project in northeastern Brazil, which will consist of 10 wind farms. The Ventos de Santa Eugenia wind project is Statkraft’s largest wind project in South America. This 519 MW project is the first stage of the total 1.1 GW planned capacity.
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Israel-based Enlight Renewable Energy has closed agreements for acquiring a 372 MW wind power project in Sweden. The Björnberget project is located in central Sweden and will have 60 wind power turbines based on Siemens Gamesa’s 5.X technology. Enlight will have a 55%-61% share in the project.
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Enel Chile, through its renewable energy subsidiary Enel Green Power Chile, has started construction on its new 204 MW Domeyko solar park, located in the Antofagasta Region. The total investment in the project is estimated to be USD 164 million. This project is part of a 2 GW portfolio of renewable projects.
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The Ministry of Energy, Mines, and Renewable Energy of Tunisia has invited bids for 70 MW of solar power projects. The tender has two phases, one of 60 MW and the other one of 10 MW. In the first phase of 60 MW, each project will have a maximum solar capacity of 10 MW. Meanwhile, in the second phase of 10 MW, each project will have a maximum project capacity of 10 MW.
Read MoreAs the global fight against climate change intensifies, corporates worldwide are increasingly focusing on meeting their sustainability targets through procuring renewable energy.
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RWE’s Cranell wind farm, a 220 MW onshore wind power project, located in Refugio County, Texas, has achieved commercial operation. With this latest project, RWE’s operational onshore wind power portfolio in the US reaches 4,200 MW (RWE’s pro rata share is about 3,600 MW) from 25 wind farms.
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Leading energy giant, Ørsted, has joined forces with Yara, a leading fertilizer company for developing a renewable hydrogen project in the Dutch province of Zeeland. This project aims at replacing fossil hydrogen with renewable hydrogen for producing ammonia using a 100 MW wind-powered electrolyser.
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Egypt’s Ministry of Finance successfully issued the first public sovereign green bond offering in the Middle East and North Africa, at a value of $750 million for five years, exceeding the government’s expectations of $500 million. The bonds are important to finance the country’s expenditures related to green projects as part of the Egypt Vision 2030, which gives priority to green investments.
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With economies across the world trying to recover from the impact of the Covid-19 crisis, there is ample opportunity to make this a “green recovery” with upfront investments in sustainable infrastructure and renewable energy sources. Thus, there is expectation of significant private participation being channeled in these green investments in the medium to long term.
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Eleven leading companies from six countries have founded the Renewable Carbon Initiative (RCI) to herald the end of the fossil age for all organic chemicals and materials by 2050. The initiative has been launched under the leadership of nova-Institute (Germany).
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Clean Energy Infrastructure, a renewable energy investment management business of Capital Dynamics, has entered into an agreement with LS Power to acquire three of the latter’s solar power projects. These three projects, with a combined capacity of 316 MW, are located in California, Arizona, and Delaware.
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Spanish renewable independent power producer Greenalia is planning to develop four new offshore wind power plants in Spain and has recently filed the project and environmental planning applications. These projects with a total installed power capacity of 200 MW would be located in the vicinity of its 50 MW GOFIO offshore wind farm coming up near Canary Islands.
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Energy giant, Total, has partnered with the Spanish developer Ignis to develop 3.3 GW of solar projects located close to Madrid and Andalusia to expand its presence in the Spanish electricity market. While the first solar projects in this portfolio are scheduled to start in 2022, all the projects are expected to be operational by 2025.
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Swancor Renewable Energy, backed by affiliates of U.S.-based Stonepeak Infrastructure Partners, is developing a 4.4 GW portfolio of offshore wind projects in the northwestern territorial waters of Miaoli County in Taiwan. The portfolio would be spread over three sites: Formosa 4-1, Formosa 4-2 and Formosa 4-3, around 18 to 20 kilometers off the coast of Miaoli County.
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The Energy Transitions Commission’s (ETC’s) new report “Making Mission Possible: Delivering a Net-Zero Economy” provides governments and private sector leaders with a vision of how to invest in the economy of the future and build a healthier, more resilient, net-zero economy.
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The government of Western Australia has issued a call for expressions of interest to develop a massive 1.5 GW renewable energy hydrogen hub in the Oakajee Strategic Industrial Area. The aim of the project is to produce renewable hydrogen for Australian domestic use as well as export. The last date for submission of proposals is December 24, 2020.
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