Utilitas Wind has commenced construction of the 117 MW Lode hybrid renewable energy park located in Valmiera municipality, Latvia. The project comprises 18 Vestas wind turbines of 6.5 MW each, delivering a total installed wind capacity of 117 MW. The project will also include a 60 MW/240 MWh battery energy storage system (BESS). The wind farm is expected to generate around 330 GWh of electricity annually.
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The European Commission has approved a €59 million state aid scheme in Slovenia. The funding aims to support the installation of at least 370 MWh of new stand-alone battery energy storage capacity (BESS) across. The scheme was approved under the Clean Industrial Deal State Aid Framework (CISAF) which was adopted by the European Commission on 25 June 2025.
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The Clean Energy Finance Corporation (CEFC) has committed $100 million to support Australia’s mid-scale clean energy transition. The investment will be deployed in partnership with Infradebt under the Distribution Connected Accelerator Program (DCAP). The program aims to finance the development of up to 16 hybrid solar, battery energy storage, and battery retrofit projects.
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Heelstone Renewable Energy, a Qualitas Energy company, has acquired the Cypress Pointe solar project from Azimuth Renewables. The project features a 188 MWp utility-scale solar photovoltaic (PV) project. The project is located in Sabine County, Texas, within the Southwest Power Pool (SPP) market. Furthermore, Azimuth Renewables has built the project through its early and mid-stage phases.
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ITOCHU Corporation has partnered with Kanadevia Inova and Nareva for an integrated waste-to-energy (WtE) project in Casablanca, Morocco. The consortium has signed a 33.5-year concession agreement with the Casablanca Municipality, along with power purchase agreements with Morocco’s National Office of Electricity and Drinking Water (ONEE) and SRM Casablanca-Settat. Furthermore, the project will process 1.5 million tonnes of municipal solid waste annually.
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ContourGlobal has commenced construction of the Los Maitenes hybrid renewable energy project in Chile. The project will combine 131 MWp of solar photovoltaic (PV) capacity along with a 90 MW/360 MWh battery energy storage system (BESS). Furthermore, the project is expected to generate around 220 GWh of clean electricity annually. Project completion is expected by the end of 2027.
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PPC Group has signed an agreement to acquire a wind and solar portfolio from EDP Renewables Polska in Poland. The acquisition includes 130.5 MW of operating wind farms, 44.9 MW of operating solar parks and 101.9 MW of cable-pooling solar projects under development, totalling 277.3 MW of acquired capacity. The projects feature an estimated 35-year operating life.
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TotalEnergies has announced the signing of two renewable energy transactions in Europe. Under the first transaction, the company will acquire Shell’s entire onshore renewables business in Europe, including 500 MW of operating and under-construction solar and wind assets and a 3.5 GW development pipeline across Italy, the UK and Spain.
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RWE has signed a 15-year power purchase agreement (PPA) with Google. The agreement covers the entire output of RWE’s 155 MWac Crooked Creek solar project located in McCurtain county, Oklahoma. Project construction is expected to commence later in 2026, with commercial operations expected in 2028.
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Sonnedix has secured €730 million in financing for renewable energy projects across France, Italy, Portugal and Spain. The financing will be used for the refinancing, optimisation and construction of the projects across the four countries. The financing covers around 540 MW of solar capacity and two battery energy storage system (BESS) projects.
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The US’ western energy markets are undergoing a major transformation. On May 1, 2026, the California Independent System Operator (CAISO) and PacifiCorp switched on the extended day-ahead market (EDAM), the biggest expansion of centralised electricity trading in the US Western Interconnection in a decade. For the first time, a day-ahead, security-constrained economic dispatch (SCED) will co-optimise generation and transmission across balancing authority areas (BAAs) that stretch from California to Wyoming. It builds on the real-time Western Energy Imbalance Market (WEIM), which has generated cumulative benefits of USD8.6 billion since its launch in 2014 across a region representing approximately 80 per cent of western electricity demand.
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Utility-scale batteries are particularly well suited to energy arbitrage, whereby they charge during periods of low or negative prices and discharge during periods of high prices. This is their primary source of revenue. They are also the leading providers of frequency control ancillary services (FCAS), including regulation services and contingency reserves that help maintain system frequency close to 50 Hz. These services require rapid response times, giving lithium-ion batteries a significant competitive advantage. Batteries typically charge during periods of strong daytime solar generation and low electricity prices, then discharge during the evening when solar output declines and demand remains elevated, enabling energy arbitrage while supporting grid stability and limiting curtailment.
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Just energy transitions are difficult, especially for emerging economies such as South Africa, where decarbonisation must be balanced with economic development, employment and energy security. Since its launch at COP26 in 2021, the Just Energy Transition Partnership (JETP) sought to meet this challenge through international finance, political commitment, and coordinated planning. The partnership has faced legitimate criticism. Progress has been slower than anticipated, financing has not always matched expectations, and differences in priorities between South Africa and its international partners have shaped implementation. Yet, the JETP has delivered important early gains that provide a foundation for further progress.
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Drax Group has completed the £548 million acquisition of Bluefield Solar Income Fund Limited (BSIF) in the UK. The transaction adds 900 MW of operating and under-construction solar and wind assets, along with a 2.9 GW gross development pipeline expected to be built over the next decade. Moreover, combined with Drax’s battery energy storage system and other renewable assets, the company’s renewable generation portfolio now exceeds 3 GW of capacity.
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The Emerging Africa & Asia Infrastructure Fund (EAAIF) has signed a senior secured debt facility of up to $50 million with Ukko Renewable in Southeast Asia. The financing will support the development of an initial renewable energy pipeline exceeding 2 GW, forming part of a broader 3 GW-plus portfolio of wind, solar and hydropower projects across Vietnam, the Philippines and other Southeast Asian markets.
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Nadara has closed approximately €1.2 billion of refinancing for the pan-European platform. The financing covers the operational wind and solar photovoltaic portfolio with a combined installed capacity of 1.5 GW. The refinanced portfolio comprises 34 onshore wind farms and 13 solar PV plants and spans across Italy, the UK, France, Spain, Sweden, Norway and Finland.
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The report finds that all seven grid operators have made progress over the past 18 months by adopting cluster studies, strengthening project readiness requirements, introducing automation and implementing reforms under FERC Order No. 2023 (Order 2023), which applies to all regions except Electric Reliability Council of Texas. Southwest Power Pool and the California Independent System Operator showed the strongest progress, while the Midcontinent Independent System Operator made incomplete progress. ERCOT made incremental progress, whereas PJM Interconnection, ISO-New England and the New York Independent System Operator made expected progress. The report notes that gating policies are improving queue quality by advancing more viable projects, although their overall effectiveness remains uncertain.
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The report assesses the hybridisation potential of hydropower plants in seven EU countries, which together account for 93 GW of the bloc’s 131 GW of hydropower capacity. It examines how much wind and solar can be added behind the meter of existing hydro assets, bypassing grid constraints, without affecting dispatch behaviour of existing plants or impacting sites near protected areas. 25 GW of wind and solar can be added to existing hydropower plants across seven EU countries, taking into account environmental constraints. Through hybridisation, Austria, Bulgaria, France, Italy, Portugal, Romania and Spain could integrate 18% of the new renewables anticipated by 2030.
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Provincial power spot markets now cover nearly all provinces, with spot prices emerging as the pricing anchor for medium- to long-term power and retail markets. Mechanism pricing has been implemented nationwide, with notable disparities emerging in regional implementation plans, bidding outcomes, and settlement expenses across different regions. Capacity pricing is expanding to include more types of generation-side entities, with compensation depending on peak-serving capability. Stand-alone energy storage economics improve as capacity pricing rolls out, while market-based TOU pricing reshapes industrial and commercial storage operations.
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Brookfield has launched Lumara, a new renewable energy platform focused on accelerating the development and construction of renewable energy projects. The platform aims to address key market bottlenecks, including delays in power purchase agreement contracting, slow grid connection queues, and prolonged land acquisition timelines. Lumara will deploy approximately $600 million, anchored by an initial portfolio of more than 6 GW across solar, wind, and battery energy storage system projects.
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