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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The European Investment Bank (EIB) has signed a €120 million loan with Iberdrola to support the advancement of energy technology research and innovation, accelerating the electrification and decarbonisation of the economy. The total investment linked to these projects is valued at €250 million. This funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, and wind power, as well as hybrid and agrovoltaic projects.
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To achieve universal electricity access and rapid economic development, Sub-Saharan Africa needs to significantly accelerate its electricity generation. Despite rising real per capita incomes over the past two decades, electricity production per capita has been declining. In addition, while hydropower is prominent in some countries, solar and wind power generation has lagged other world regions, even though sub-Saharan Africa has some of the most favorable conditions, particularly in terms of solar potential.
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This report “Hydropower Supply Chain Gap Analysis” by NREL summarizes WPTO’s efforts in the listed focus areas and complements the earlier work by further exploring the identified challenges and conducting a detailed gap analysis of the domestic hydropower supply chain. Specific, actionable recommendations are made to address gaps. The report summarizes recent legislation impacting hydropower deployment and/or its supply chain.
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Tata Power has formed a strategic partnership with Bhutan’s Druk Green Power Corporation Ltd (DGPC) to develop the 600 MW Khorlochhu Hydropower Project. The project is located on the Kholongchhu River in Eastern Bhutan’s Trashiyangtse Dzongkhag. The project’s clean power would assist Bhutan fulfil its growing electricity demand. Furthermore, Tata Power will invest 40 per cent of its shares in Khorlochhu Hydro Power Limited, a Public Private Partnership Company.
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TotalEnergies acquires SN Power in AfricaTotalEnergies has concluded a deal with Scatec to acquire 100 per cent of its subsidiary SN Power, which has interests in renewable hydropower projects in Africa. Furthermore, SN Power is held through a joint venture, where Scatec owns 51 per cent, alongside Norfund and British International Investment (BII).
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ACCIONA Energía has finalised a deal to sell 100 per cent of Acciona Saltos de Agua, S.L. group to Elawan Energy, a subsidiary of ORIX Corporation, with the transaction being debt-free. Furthermore, Crédit Agricole serves as the financial advisor. The ASA portfolio, comprising 23 hydroelectric plants with a total capacity of 175 MW in Aragón, Cantabria, and Cataluña, is expected to close by year-end pending foreign direct investment approval.
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SSE Renewables plans to develop a new pumped storage hydropower project at Loch Fearna in Scotland’s Great Glen, through a 50:50 joint venture with a consortium led by Gilkes Energy. The project will be situated at the western end of Glengarry, about 25 km west of Invergarry. The site will be adjacent to SSE Renewables’ Loch Quoich reservoir within the Great Glen hydro scheme. According to the joint venture terms, Gilkes Energy will lead the project’s development under a development services agreement with SSE Renewables.
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Indian Renewable Energy Development Agency Limited (IREDA) has announced plans to invest approximately Rs. 2.9 billion in a 900 MW hydroelectric power project in Nepal. With this investment IREDA will have up to 10 per cent stake in GMR Upper Karnali Hydro Power Limited and Karnali Transmission Company Pvt. Ltd., Nepal. The project is subject to approval from the Government of India and other regulatory authorities.
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The European Investment Bank (EIB) will provide advisory assistance to Natsionalna Elektricheska Kompania EAD (NEK), Bulgaria’s national electricity company, for the construction of two large pumped-storage hydropower plants. The two new renewable energy projects will be situated at hydropower cascade dams and reservoirs near the towns of Batak and Dospat. Each power plant will have a generation capacity of 800 MW.
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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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Statkraft has decided to buy the Red John Pumped Storage Hydro Scheme from Intelligent Land Investments Group (ILI) in Scotland. Ministers from the Scottish Government gave its approval to the 450 MW project in June 2021. The project was initially proposed in 2015. The project is situated about 14 km south-west of Inverness.
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