NTR, a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects, has successfully completed a €370 million portfolio refinance of its 220 MW onshore wind portfolio. The said refinancing has been carried out for its NTR Wind 1 LP fund…
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The preliminary results of Portugal’s latest solar auction for 700 MW of capacity have been released with the winning bid price dropping to a record low of €0.01114/kWh. This is lower than the record low bid price of €0.0146/kWh witnessed in the 1,150 MW solar auction in Portugal in June 2019.
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Saipem, an Italian major in subsea exploration, construction and energy services, will co-develop a 450 MW wind farm in the Adriatic Sea off the coast of Ravenna. The company has recently signed MoUs with AGNES and QINT’X to set up this offshore wind farm in northern Italy.
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The German government is publishing its first framework for Green German Federal Securities to strengthen the country’s position in the area of sustainable finance and make its “green” budget spending more transparent.
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Amazon has announced a new 115 MW wind farm project in Ardderroo, Galway in Ireland. The wind power project will support the Amazon Web Services (AWS) data centers in the country. This new project will begin operating in 2022 and add to the company’s other upcoming projects in the country.
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Two African energy companies, Groupe Filatex and Dera Energy, have partnered to develop a total of 170 MW of solar power capacity in Madagascar. Together, the two partners plan to build three kinds of solar power plants, hybrid power plants to support existing heavy fuel oil plants, fixed solar power plants and mobile power plants.
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Siemens Energy has signed an agreement with Beijing Green Hydrogen Technology Development Company Limited, a subsidiary of China Power International Development Ltd. (China Power), to provide a hydrogen production system for a fueling station in Yanqing District, Beijing.
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Duke Energy Renewables, a subsidiary of Duke Energy, has closed a preferred tax equity funding of $109.4 million from Goldman Sachs’ Alternative Energy Investing Group. This investment will be used to implement around 75 MW of solar and solar with energy storage projects over an 18-months period.
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Azelio, a public Swedish company specialising in thermal energy storage with dispatchable power, has signed an agreement with ALEC Energy to build a renewable energy storage site. Azelio will install a verification project in Abu Dhabi so as to evaluate its energy storage technology for inclusion in Masdar’s renewable energy product portfolio.
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GE Renewable Energy has announced that it will supply 13 wind turbines to the 68.9 MW E energija Telšiai onshore wind farm in Lithuania. As part of the partnership, GE will also provide a 25-year full services agreement for the wind project.
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AGL has announced that it has lodged a scoping report with the New South Wales Department of Planning, Industry and Environment (DPIE) for a grid-scale battery system at its Liddell Power Station site. The Liddell Battery project is part of the company’s target to develop 850 MW multi-site integrated battery systems by FY24.
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The first half of the year 2020 saw a sharp reduction in power demand, which in turn led to a huge decline in thermal power generation. On the other hand, the share of renewable energy especially wind and solar continues to rise as economies strive for green recovery from the covid-19 crisis.
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The Asian Development Bank (ADB) has approved a $73.39 million concessional loan and grant to the Government of Maldives to develop a waste treatment facility using waste-to-energy (WTE) technology and disposal infrastructure for the Greater Malé region and neighboring outer islands.
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Qatar’s 800 MW Siraj 1 solar project has reached financial closure with the Japan Bank for International Cooperation (JBIC) and Mizuho Bank agreeing to finance the construction of the project. The Japanese lenders have signed a $330 million syndicated loan according to the Qatar General Electricity and Water Corporation.
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ExxonMobil, one of the largest refiners and marketers of petroleum products, has signed an agreement with Global Clean Energy Holdings to source renewable diesel from a converted refinery in Bakersfield, California.
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Bamboo Capital Group, a multi-sector investment company in Vietnam, is planning to develop 652 MW of wind energy projects in the 2020-2022 period. The company has allocated VND14 trillion ($603.45 million) to this end. The company also has plans to build a 300 MW plant in Ca Mau.
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Statkraft Ireland secured contracts for over 330 MW of renewable power including two wind projects (57 MW) and two solar projects (276 MWp), in Ireland’s first competitive renewable energy auction under the Government’s new Renewable Electricity Support Scheme (RESS-1).
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In its latest auction for 1,170 MW of solar power, state-run NTPC Limited has discovered a tariff of Rs 2.43 ($0.0325) per kWh. O2 Power, jointly backed by Sweden’s EQT Infrastructure and Singapore-based Temasek, emerged as the winner at the lowest tariff and has been allocated 400 MW of capacity.
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On the global stage, the scale of this investment does not raise eyebrows. However, what is important is not just the megawatts. It is why these two utilities are investing in this technology. LADWP has stated that its Intermountain hydrogen project is necessary to meet the utility’s 100 percent renewable energy target. NextEra has no such mandate forcing its hand.
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With all major economic activity halted, energy demand has also tumbled, leading to the steepest drop in oil prices in two decades. Simultaneously, there has been a significant cut in greenhouse-gas emissions. However, this temporary drop in carbon emissions only highlights the fact that there has been very little actual progress in decarbonization across the globe.
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