Following a tough first half when corporate funding was down 25% year-over-year, recovery has been swift and broad, with corporate funding up 24% for the year. The solar ETF was up 225%, with 15 solar stocks up over 100% in 2020. Public market funding was also up with the help of several IPOs, and debt financing was up on the back of securitization deals.
Read More
The Senegalese Rural Electrification Agency (ASER) has announced tenders for supplying mini-grids for the electrification of 117 villages through solar power. The project implementation is being undertaken by the Senegalese Ministry of Oil and Energy. Further, it is being financially supported by the Islamic Development Bank and the Islamic Solidarity Fund for Development.
Read More
Total has acquired Fonroche Biogaz, a company that designs, builds and operates anaerobic digestion units in France. Fonroche Biogaz has a cumulative installed capacity of almost 500 GWh with a portfolio of seven operational units and four units are in the pipeline.
Read More
Consumers Energy has completed its Gratiot Farms Wind Project, which is now operational in Michigan. The project consists of 60 wind turbines with a cumulative capacity of150 MW capacity, which is enough to supply power to about 58,000 residents.
Read More
Neoen, a renewable energy developer, has initiated the planning process for a 500 MW/1,000 MWh battery storage project in New South Wales. The project will be located around 100km west of Sydney, near the site of the former Wallerawang coal-fired power station. The project, referred to as the ‘Great Western Battery’, would form a major part of an evolving New South Wales energy grid.
Read More
Vietnam backed by the Asian Development Bank has proposed launching tenders for 400 MW of floating solar projects in the country. Renewable energy developers will be able to bid for 50-100 MW under the first batch and 300 MW in the second batch. The ADB is looking for six consultants with environmental, social, and financial expertise to support the auction.
Read More
The Moroccan Agency for Sustainable Energy (MASEN) and the Islamic Development Bank (IDB) has launched a joint initiative for the development of renewable energy projects in Africa. The initiative aims for capacity building for renewable electricity production and also to build awareness among the local population for future projects in the country. The two agencies will also support the pre-feasibility studies of the selected renewable energy projects.
Read More
American renewable energy giant, Pattern Energy Group, has closed finances and announced the commencement of construction of its 1050 MW wind park in New Mexico. Along with the construction of the wind park, the company also began work on the installation of the Western Spirit Transmission line which is owned by the New Mexico Renewable Energy Transmission Authority.
Read More
Spanish multinational electric utility company, Iberdola has announced the acquisition of a 50 per cent stake in offshore wind company, Sea Wind. The two companies are set to jointly develop a project portfolio of 7.3 GW going forward. The move marks Iberdola’s entry into the Polish market and is expected to drive the company’s expansion.
Read More
In light of rapid uptake of renewables, Australia is looking to improve its power grid’s stability to counter generation risks and overburdening of the transmission system. The country’s transmission system and grid lines were initially developed for coal-generated energy. Thus, there is a need for an overhaul to accommodate the penetration of renewables.
Read More
Canadian Solar has sold its stake in two solar projects, Hays and Jenner, to BluEarth Renewables. Both of the solar projects have an installed capacity of 23 MW each and are slated to be operational by 2021. The management responsibilities of this project will also be taken up by BluEarth.
Read More
ENCAVIS has connected the second major project in Spain to the grid well within the timeline. The project, Talayuela, is the largest solar park within the portfolio of ENCAVIS. It has an installed capacity of 300 MW.
Read More
Siemens Gamesa has signed an agreement to supply 29 turbines of the SG 3.4-132 variety to the state-owned utility Ethiopian Electric Power (EEP) for the 100 MW Assela project in Ethiopia. The project is expected to be commissioned in the first half of 2023. The project will generate about 300,000 MWh per year.
Read More
Under the “Desert to Power” initiative, the African Development Bank (AfDB) has allocated a grant of $5 million which will be released under the bank’s Sustainable Energy Fund for Africa. The fund will be utilised for developing the technical component of the initiative with the focus on the G5 Sahel countries of Burkina Faso, Mali, Mauritania, Niger, and Chad.
Read More
Spanish renewable energy company, Endesa has announced the commissioning of its first solar power plants to be connected to the grid in Seville, Spain. The solar parks, Las Corchas and Los Naranjos were developed by Enel Green Power and are located between the towns of Carmona and La Rinconada. The two projects have a combined capacity of 100 MW and could potentially generate 202 GWh of electricity annually.
Read More
Caisse de dépôt et placement du Québec, a Canadian pension fund is investing $1-billion in a Taiwanese offshore wind project in its latest of a string of renewable-energy acquisitions. The Qubéc-based fund will acquire a 50 per cent stake in the Greater Changhua 1 Offshore Wind Farm developed by Ørsted. The acquired project has a total installed capacity of 605 MW and is valued at $3.4 billion.
Read More
Doosan GridTech will provide engineering, procurement, and construction (EPC) support to Vena Energy-Australia to build an energy storage system in Queensland. This battery energy storage system (BESS) will support the state’s shift to renewable energy as well as contribute to improving grid stability. The BESS will be located near Wandoan with an installed capacity of 100 MW and will supply 150 MWh.
Read More
The United States’ Congress approved a spending bill which includes a two-year extension of the investment tax credit (ITC) for solar power, a one-year extension of the production tax credit (PTC) for wind power projects, and an extension through 2025 for offshore wind tax credits. The bill also includes an allocation of $35 billion for energy research and development programmes.
Read More
Greece has approved a budget of 2 billion euros for the development of the four renewable energy projects. The four renewable projects will have a cumulative capacity of 2.81 GW.
Read More
Japan has released a green growth strategy which aims to replace new gasoline-powered vehicles with electric vehicles by mid-2030s. Through this strategy, Japan aims to achieve increased renewable energy deployment and carbon neutrality by 2050. The strategy identified 14 industries, such as offshore wind, hydrogen and fuel ammonia as well as autos and rechargeable batteries with roadmaps for each sector.
Read More