KKR, a prominent global investment firm, has announced the signing of a definitive agreement to acquire a majority stake in Avantus, a premier developer of large utility-scale solar and solar-plus-storage projects in the United States.
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Lhyfe has secured financial support in the form of a grant of up to €149 million from the French Government for the development of a green hydrogen production plant with an installed electrolysis capacity of 100 MW near Le Havre. Furthermore, the European Commission granted approval for this project
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The European Investment Bank (EIB) has granted a green loan worth €700 million to Iberdrola. The loan is granted to expand the electricity distribution network in Spain. EIB Director General for EU Operations and Iberdrola Chief Finance, Control and Corporate Development Officer inked the loan’s first €500 million tranche in Madrid.
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Korkia, a Finnish renewables investor, has teamed with Romania-based Econous Green Energy to build 600 MW of solar energy capacity in Romania. By 2025, the partnership’s first projects are expected to be licenced and ready for construction. A 600 MW photovoltaic system generates 780,000 megawatt-hours of power.
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EDP Renewables North America (EDPR NA) and Volt Energy Utility have recently announced a 110 MW solar project in Illinois, sponsored by software giant Microsoft Corp. The partnership is commencing the development of Hickory Solar Park near Jerseyville, Illinois. Microsoft and Volt Energy have designed an environmental justice power purchase agreement (EJ PPA) form, and Microsoft will purchase power and renewable energy credits (RECs) from the project for a period of 15 years.
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Masdar, a renewable energy company based in the United Arab Emirates, has secured €488 million in funding for its 49 percent ownership in Germany’s Baltic Eagle offshore wind farm. It will be situated 30 km northeast of Rügen Island and will have the advantage of an initial 20 years
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Octopus Energy’s generation arm has purchased a 50 per cent share of the German renewable energy company Lintas Green Energy. Reportedly, the move broadens the company’s national reach and accelerates the expansion of the Oldenburg-based green energy provider.
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Sempra Infrastructure has placed a 319 MW order for the Cimarron wind farm near Tecate, Baja California, Mexico. The Energia Sierra Juarez Wind Complex, which will have a 582 MW installed capacity overall, is currently in its third phase. The deal covers the delivery and deployment of 46 V163-4.5 MW turbines and 18 V162-6.2 MW turbines.
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Emeren Group Ltd has signed a collaborative development contract with Nuveen’s Glennmont Partners for 155 MW (up to 1.24 GWh of capacity) of battery storage projects in two Southern Italian regions.
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RWE AG, a German energy group, has begun building a portfolio of seven solar projects totaling 330 MW in the UK, along with energy storage capacity. JBM Solar, a British solar developer that RWE acquired in 2023, has these initiatives in the works as part of its goal to rank among the country’s leading solar developers.
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Energa Wytwarzanie, an Orlen Group affiliate, and Northland Power have launched Baltic Offshore Service Solution, a new firm that will deliver offshore wind services in Poland. The joint partnership will provide a range of services, including technical, operational, commercial, and contractual issues. It will also be responsible for operating the Orlen Group’s 24-hour wind farm management centre, which monitors, coordinates, and controls the company’s offshore assets.
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Petrovietnam (PVN) and Copenhagen Infrastructure Partners Group (CIP) of Denmark will cooperate in the renewable energy sector following a memorandum of understanding (MoU) inked between the two companies.
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Mainstream Renewable Power, the global pure-play renewable energy company, has signed two wind energy service contracts (WESCs) with the Department of Energy (DOE) in the Philippines for the development rights for two onshore wind farms with a combined capacity of 440 MW. As per the company’s statement, the contracts represent Mainstream’s first fully-owned WESCs in the Philippines and it is one of the first 100 per cent foreign-owned companies to secure the contracts.
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BrightNight, a US-based company, has collaborated with ACEN, an Ayala Group affiliate for setting up a 1 GWac renewable power portfolio in the Philippines. This is the second such collaboration between BrightNight and ACEN and follows the one established in India in March 2023. The two companies had formed a 50-50 partnership for setting up 1.2 GW large-scale hybrid wind-solar and round-the-clock renewable power projects in India in 2023.
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Scatec ASA, together with its partners Hydro Rein (part of Norsk Hydro ASA) and Equinor ASA, has announced the supply and production of electricity from the Mendubim solar plant in the state of Rio Grande do Norte, Brazil. The 531 MW solar plant, comprising several projects, represents Scatec’s second venture in Brazil and is a collaborative effort with Norwegian partners Equinor and Hydro Rein.
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Vestas has confirmed a previous conditional agreement to provide turbines for Equinor’s 810 MW Empire Wind 1 project, which was successfully rebid in New York’s fourth offshore wind auction. Vestas stated in October 2021 that the project was a part of a larger preferred supplier agreement for the combined Empire Wind 1 and 2 projects.
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Hive Energy, a global renewable energy developer, has completed the acquisition of four early-stage solar projects from the Polish developer T&T Proenergy. The cumulative capacity of the four sites will be 272 MW. The projects will be co-developed to the ready-to-build status.
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ACEN Australia (of the Ayala Group) and Marubeni Asian Power Singapore signed a cooperation agreement for the joint development of a 200 MW/400 MWh (2-hour) battery energy storage system (BESS) in New South Wales, Australia. The signing ceremony for the agreement took place at the Philippine Business Forum held in Melbourne, Australia
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Chevron New Energies, a division of Chevron U.S.A. Inc., announced it is developing a 5 MW hydrogen production project in California’s Central Valley. The project aims to create lower carbon energy by utilising solar power, land, and non-potable produced water from Chevron’s existing assets at the Lost Hills Oil Field in Kern County. Reportedly, this low carbon intensity (LCI) electrolytic hydrogen will be produced through electrolysis, which is the process of using electricity to split water into hydrogen and oxygen.
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The Dutch Ministry of Economic Affairs and Climate, through Netherlands Enterprise Agency, has initiated a 4 GW offshore wind tender which aims to award two permits in early 2024, dividing them between plot Alpha (2 GW) and plot Beta (2 GW). Future plans involve adding another plot, eventually increasing the total capacity to 6 GW. These designated areas are part of the IJmuiden Ver wind farm zone in the North Sea. The deadline for bid submissions is March 28, 2024.
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