INTEC Energy Solutions has secured an engineering, procurement, and construction (EPC) contract for the 288 MWp Shafag (Jabrayil) solar project in Azerbaijan. The contract has been awarded by Shafag (Jabrayil) Solar Limited and covers the complete EPC scope. Additionally, the agreement includes operation and maintenance services for the first two years of the project’s operations. The total contract value is $117 million.
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Enhancing physical grid infrastructure is crucial to fully harness the potential of integrating renewables, including variable renewable energy and other energy transition technologies into energy systems. Energy storage systems, particularly battery energy storage systems (BESS), are also an important enabling technology for forward-looking planning of modernised grid infrastructure, offering significant flexibility to the power system.
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EU has reduced its GHG emissions by more than one-third compared with 1990, while its economy has continued to grow substantially. Renewable energy now supplies a quarter of gross final energy consumption and almost half of electricity, while final energy demand has declined. These developments demonstrate that climate action is delivering and that structural change towards a clean transition is well underway. However, the reality is increasingly sobering as climate impacts intensify.
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Indonesia released its enhanced nationally determined contribution in 2022—pledging to reduce emissions from the energy sector by 358 MtCO2e by 2030, a target of around 12.5% of the country’s emissions reduction goal. The energy transition will provide access to clean energy, encourage the growth of the green economy, and reduce emissions. However, to ensure the process benefits vulnerable groups, planning and policies must embed an inclusive approach to a just transition in coal mining communities.
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This report explores the growing trend of interconnection queue rationing across four major regional transmission organizations (RTOs) and independent system operators (ISOs)—PJM Interconnection LLC (PJM), the Midcontinent Independent System Operator (MISO), Southwest Power Pool (SPP), and the California Independent System Operator (CAISO). Each has adopted distinct approaches to prioritize projects and manage limited transmission capacity.
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Vena Energy has progressed its Indonesia–Singapore renewable energy project by signing a framework supply agreement with battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) for the project planned in the Riau Islands. Under the agreement, Vena Energy’s Indonesian subsidiary, PT Infrastruktur Terbarukan Sedaya, will procure CATL’s EnerX battery energy storage systems with a capacity of up to 4,000 MWh.
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Equinor has commenced commercial operations at its first hybrid project in Brazil, combining 140 MW of solar capacity with 223 MW of wind capacity at the Serra da Babilônia site in Bahia. The solar plant has been developed alongside the existing wind project, Serra da Babilônia Wind, operated by its subsidiary, Rio Energy. The solar plant is expected to produce 236 GWh of renewable energy annually.
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Atlantica Sustainable Infrastructure has finalised the acquisition of Statkraft’s renewable energy platform in Canada. The platform consists of 236 MW of operational capacity, along with a development pipeline of around 600 MW spanning renewable and storage projects. The operational portfolio includes a 51 per cent interest in l’Érable, a 100 MW wind project in Quebec operating since 2013, and a 136 MW wind project in Alberta. .
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LS Power has completed the acquisition of bp’s onshore wind operations in US, that is bp Wind Energy North America Inc., adding around 1,300 MW of operating wind capacity across 10 projects to its portfolio. The transaction has met all the required regulatory and closing conditions. Greenberg Traurig, LLP acted as the legal advisor, while Barclays and Santander served as financial advisors to LS Power for the acquisition.
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AMPYR Distributed Energy (ADE), part of AGP Group, has secured a £50 million mezzanine financing facility to support its acquisitions and project funding activities in the UK’s commercial and industrial renewables market. The capital can be utilised across development, construction, and operational stages for both solar and battery energy storage system projects.
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ACWA Power and Bapco Energies have entered into a joint development agreement to collaborate on the development of a solar project integrated with a battery energy storage system in Saudi Arabia’s Eastern Province. The arrangement outlines cooperation between the two companies to jointly develop the project through multiple phases, with the planned generation capacity expected to reach up to 2.8 GW.
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Scatec ASA has commenced commercial operations of the 273 MW Grootfontein solar project in South Africa. The project, located in the Western Cape, will supply electricity under a 20-year power purchase agreement (PPA). It is expected to produce 700 GWh of electricity annually. The project is anticipated to offset around 630,000 tonnes of carbon emissions annually.
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The Ministry of Mines and Energy of the Colombian government has announced the formation of Gecelca Solar as a new platform to support Colombia’s energy transition. The new entity will begin with an initial solar portfolio of 650 MW, anchored by a 200 MW solar project. The region has reportedly faced persistent challenges related to high electricity costs and limited energy access.
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Deutsche Bahn (DB), through its subsidiary DB Energie, has entered two long-duration power purchase agreements with Blue Elephant Energy GmbH (BEE) for the supply of around 2.5 TWh of solar power. The power will come from two large solar projects planned in Bavaria and Baden-Württemberg. Both projects are scheduled to become operational by mid-2027. The agreements run for up to 13 years.
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Zelestra has signed an agreement to sell its Latin America platform to Promigas S.A. The platform comprises 1,400 MW of contracted solar and battery storage capacity, of which 1,000 MW includes projects that are either operational or under construction. Additionally, the company has a development pipeline of more than 2,100 MW of renewable capacity across 19 projects across Chile, Peru and Colombia.
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The European Commission (EC) has opened three funding windows under the Innovation Fund, supported by €5.2 billion in EU Emissions Trading System revenues. These include a €2.9 billion call for net-zero technologies, a €1.3 billion auction under the European Hydrogen Bank for renewable and low-carbon hydrogen production, and a €1 billion auction dedicated to industrial process heat decarbonisation.
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Citicore Renewable Energy Corporation (CREC) has entered into a Php 3.975 billion project finance loan facility with the Bank of the Philippine Islands (BPI) to support the completion of the 113 MWp Citicore Solar Pangasinan 2 project in Binalonan, Pangasinan. BPI Capital Corporation acted as the sole lead arranger for this financing transaction. Furthermore, the has received a Certificate of Energy Project of National Significance.
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Data centers and other large loads cannot wait years for traditional generation and infrastructure upgrades. Virtual power plants offer a faster, cheaper, and more flexible alternative. The commercial models proposed in this paper can unlock large load-driven VPPs at scale by more efficiently allocating risk among utilities, VPP developers, and large customers — aligning incentives and unlocking new pathways for rapid deployment. In turn, this could benefit us all — strengthening reliability, lowering costs, and powering the next wave of US economic growth.
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When we started looking seriously at green hydrogen, the industry was largely theoretical. It sat in the background of energy discussions, viewed as something that might one day become relevant. What has changed over the past decade is that hydrogen has shifted from concept to accepted necessity. Heavy industry, steel, shipping, fertilisers and future fuels all need a solution that electricity alone cannot provide, and green hydrogen fits that role. The biggest evolution has been the move from hype to grounded delivery.
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It’s easy to be discouraged by the negative news coming out of COP30 and the climate space writ large. But beneath the headlines, progress is happening. Clean energy and electrified transport are growing at rates that were unimaginable a decade ago. Countries investing in a green transition are reaping the benefits, from new jobs and growing economies to better energy access and cleaner air. Whatever the twists and turns of climate negotiations, the economic transition is underway. The question is, how fast it will be and who will benefit? Now is the time for all actors to pick up the pace and drive towards a just transition.
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