Masdar and Elektroprivreda Crne Gore (EPCG) have formed a 50/50 joint venture (JV) in Montenegro. The JV, headquartered in Nikšić, will deploy solar, wind, hydropower, pumped storage, BESS, and hybrid energy solutions. It aims to meet domestic energy demand while enabling renewable power exports across the Western Balkans and Southern Europe.
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Alpiq has acquired the Navaleo hydro pumped storage project (PSP) in Castilla y León, Spain. The project was developed by Erbienergía and is currently at an advanced stage, with commercial operations planned for the early 2030s. The project is expected to provide 535 MW of flexible capacity to the Spanish grid, supporting system stability and enabling higher renewable energy integration.
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A consortium comprising Electric Power Development Co., Ltd. (J-POWER), Aboitiz Renewables, Inc., and Sumitomo Corporation have completed the acquisition of the CBK Hydroelectric power plants in the Philippines following their win in the privatisation bid conducted by the Power Sector Asset and Liabilities Management Corporation (PSALM). The plants have a combined installed capacity of 797 MW.
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Rye Development and Copenhagen Infrastructure Partners, through its Flagship Fund CI V, have announced that the Federal Energy Regulatory Commission (FERC) has issued a 40-year licence for the Goldendale energy storage project in Washington. Once operational, the closed-loop hydropower pumped storage project (PSP) is designed to store electricity for up to 12 hours and deliver 1,200 MW of on-demand power.
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The World Bank Group has approved financing for the 1,125 MW Dorjilung hydropower project located on the Kurichhu river in eastern Bhutan.The approved financing package includes a $150 million grant and a $150 million credit from the International Development Association, a $15 million enclave loan from the International Bank for Reconstruction and Development to the Government of Bhutan.
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Hydro Tasmania has launched an open call for proposals from new wind and solar projects across the state to increase the amount of electricity available to the Tasmanian grid. The utility is seeking a commercial offtake arrangement with one or more projects capable of supplying up to 1,500 GWh of power each year. The deadline for submission of expressions of interest is December 5, 2025.
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The Electricity Generating Authority of Thailand (EGAT) has awarded a contract to ANDRITZ for the replacement of two pumped storage units at the Srinagarind hydropower plant with new, state-of-the-art units. The plant is located on the Kwai Yai River in Kanchanaburi province, Thailand and has a total capacity of 720 MW comprising three Francis units and two pumped storage units.
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Adani Power and Bhutan’s Druk Green Power Corporation (DGPC) have signed agreements to develop the 570 MW Wangchhu hydroelectric project in Bhutan. The agreements include a shareholders agreement, a concession agreement with the Royal Government of Bhutan, and an initial understanding on the power purchase agreement. The project will be executed on a build-own-operate-transfer (BOOT) basis.
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Brookfield Asset Management, along with Brookfield Renewable, has signed a hydro framework agreement (HFA) with Google to deliver up to 3,000 MW of carbon-free hydroelectric capacity across US. The first contracts executed under this framework cover Brookfield’s Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, amounting to 670 MW of capacity with a total contract value of over $3 billion.
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Druk Green Power Corporation Limited (DGPC) and B.Grimm Power Public Company Limited (B.Grimm) have inked a memorandum of understanding (MoU) for the development of renewable energy project in Bhutan. The agreement establishes a framework of future collaboration for developing other renewable energy projects through Special Purpose Vehicles to be incorporated under Bhutanese law.
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EnergyAustralia has partnered with EDF power solutions Australia to co-develop and deliver the Lake Lyell Pumped Hydro Energy Storage project (LLPHES) in Lithgow. The LLPHES Project has the capability to produce 385 MW of reliable, dispatchable energy once it is developed. The energy produced will be sufficient to supply over 250,000 homes in New South Wales for up to eight hours.
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The World Bank has approved a $350 million grant to support Malawi’s Mpatamanga Hydropower Storage Project (MHSP). The grant has been approved by the International Development Association (IDA). The project was co-developed by the Government of Malawi and the International Finance Corporation, which is a part of the World Bank Group, as a public-private partnership. The capacity of the project is 358.5 MW.
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Elawan Energy has closed €76 million financing for 23 small hydropower plants in Spain with a combined installed capacity of 175 MW. The €76 million transaction has been structured as a non-recourse project finance deal. Natixis provided the financing and acted as the lead arranger and structuring agent. Furthermore, out of the total installed capacity of 175 MW, 134 MW comes from eight storage-based facilities that use dams or balancing reservoirs.
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Locus Energy, a portfolio company of SEB Nordic Energy, has acquired a hydropower portfolio with an annual generation capacity of 158 GWh, spanning across the Norwegian price zones NO2 to NO5. The acquired portfolio comprises both operational plants and projects currently under construction. Once fully commissioned, the assets will bring Locus Energy’s total annual hydropower output to around 410 GWh.
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Gilkes Energy’s Earba Storage Project has secured planning consent from the Energy Consents Unit of the Scottish Government in UK. This is a proposed pumped storage hydro (PSH) scheme with an installed capacity of 1,800 MW and a storage capacity of 40,000 MWh. The project provides 22 hours of storage at full power. Furthermore, the Earba Storage Project supports decarbonisation, strengthens energy security, and lowers costs for consumers.
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ENERGO-PRO has inked an agreement to purchase the large hydropower plant Baixo Iguaçu situated in Brazil. This hydropower plant has a total capacity of 350 MW. The Baixo Iguaçu plant was constructed in 2019 on the Iguaçu River in the state of Paraná. Furthermore, the purchase price of the power plant exceeds €250 million. The purchase is financed by a combination of ENERGO-PRO’s own funds and external sources.
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ENGIE Brasil Energia has inked an agreement for the acquisition of two hydropower plants. These are the Santo Antônio do Jari hydropower plant situated in the states of Amapá and Pará and the Cachoeira Caldeirão hydropower plant in the state of Amapá. The transaction is valued at approximately R$2.9 billion out of which approximately R$2.3 billion is in equity and approximately R$671 thousand in net debt.
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In all the scenarios covered by this report, renewables are central to meeting demand and trade expansion in Central Africa. In every scenario, out to the modelling horizon of 2040, hydropower remains the largest renewable energy source in the region, supplying nearly 70% of its electricity. Reductions in the cost of solar PV and wind are driving their expansion in the regional capacity mix. There is large, untapped potential for cross-border electricity trade inside and outside the CAPP region. Cumulative system costs and investment in the CAPP region vary significantly depending on future assumptions in the areas of demand and cross-border trade
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Tata Power and Bhutan’s Druk Green Power Corporation (DGPC), a subsidiary of Druk Holding and Investments Limited, have signed an MoU to develop 5,000 MW of renewable energy, including 4,500 MW of hydropower and 500 MW of solar projects. Key projects include the Dorjilung HEP, Gongri Reservoir, Jeri Pumped Storage, Chamkharchhu IV, and solar initiatives by Tata Power Renewable Energy Limited.
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ACCIONA Energía has agreed to sell its entire stake in, Corporación Acciona Hidráulica S.L., to Endesa for €1 billion. This deal will generate €620 million in capital gains for ACCIONA Energía and is expected to close in the first half of 2025. Corporación Acciona Hidráulica, S.L. owns and operates 34 hydroelectric power plants in Spain, totaling 626 MW of installed capacity.
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