Vikram Solar has secured 1,000 MW order to supply solar photovoltaic modules for renewable energy projects in Karnataka, Gujarat, and Rajasthan, India. The modules will be deployed under JSW Neo Energy Limited’s renewable energy initiative. The contract involves the supply of Hypersol N-Type TOPCon Glass-to-Glass Modules, each with a power output of 580 Wp or higher.
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Masdar has inked an implementation agreement and a MoU with the Philippines government to develop 1 GW of clean energy projects to strengthen its growing portfolio in Southeast Asia. These agreements have been inked with the Department of Energy and the Board of Investments of the Republic of the Philippines respectively. These agreements will cover the development of solar, wind, and battery energy storage systems which will have a combined capacity of up to 1 GW by 2030.
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Indonesian State-Owned Enterprise subsidiary Pertamina New & Renewable Energy (Pertamina NRE) has inked a share subscription agreement with Citicore Renewable Energy Corporation (CREC). Pertamina New & Renewable Energy will acquire a 20 per cent stake in CREC by subscribing to 2,232,143,036 common shares at PhP 3.00 per share. This transaction will generate a value of approximately $115 million.
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Mirova, an affiliate of Natixis Investment Managers, has invested in ecoligo, a global player in commercial and industrial (C&I) solar solutions. This investment is aimed at funding a portfolio of greenfield C&I solar rooftop projects in Vietnam. It represents the first investment by the Mirova Gigaton Fund in Vietnam, with a commitment of $10 million in senior debt financing. Furthermore, this loan from Mirova will enable ecoligo to expand its C&I solar business in Vietnam.
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Indian Gas Exchange Limited (IGX) and Central European Gas Hub AG (CEGH) have signed a Memorandum of Understanding (MoU) to collaborate on developing natural gas and renewable gas markets. IGX, India’s authorised natural gas exchange, and CEGH, a leading gas hub operator in Central and Eastern Europe, aim to leverage their respective market expertise to enhance technical, operational, and regulatory capabilities.
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GE Vernova’s Onshore Wind division has secured an order to supply 14 4.2 MW-117m turbines for the Iwaya and Shitsukari wind farms. These projects are being developed by Eurus near Higashidori in Aomori, Japan. The order was secured in the fourth quarter of 2024. These projects are anticipated to commence commercial operations by 2028. Furthermore, these wind farms will enable both companies to support Japan’s renewable energy goals.
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JERA Co., Inc. (JERA), Green Power Investment Co., Ltd. (GPI), and Tohoku Electric Power Co., Inc. (Tohoku Electric) have collaborated to form a consortium led by JERA. The consortium has been selected to operate an offshore wind power project in the Sea of Japan, off the southern coast of Aomori Prefecture. They were selected as operators of the project by Japan’s Ministry of Economy, Trade, and Industry and the Ministry of Land, Infrastructure, Transport, and Tourism.
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Nozomi Energy (an Actis subsidiary) has acquired a portfolio of 12 operational solar projects in collaboration with a Japanese co-investor. These acquired projects comprise operational solar power plants that have a total capacity of 312 MW. These solar plants range from 1 MW to over 60 MW.Furthermore, these projects operate according to the Feed-In-Tariff (FIT) contracts that extend at least until 2040 with an average duration exceeding 17 years.
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VCI Global aims to develop and acquire up to 100 MW of solar photovoltaic (PV) projects across Southeast Asia and Europe over the next five years. These projects are anticipated to generate approximately $200 million in revenue over 20 years. As part of this initiative, the company plans to source at least 70 per cent of the 100 MW from projects in Malaysia.
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India’s Ministry of Finance has imposed an anti-dumping duty on solar glass imports from China and Vietnam. The anti-dumping duties aim to protect the domestic solar glass industry from unfair pricing practices. The duty on Chinese imports ranges from $673 to $677 per metric tonne, while imports from Vietnam face a duty of $565 per metric tonne. The duty will be effective for six months, starting December 4, 2024
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Greenzo Energy India Limited (GEIL) has partnered with France’s EODev (Energy Observer Developments) to introduce EODev’s hydrogen fuel cell power generator, the GEH2, in India and Nepal. The generators use Toyota’s hydrogen fuel cell technology, marking its first introduction in South Asia.
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US Department of Commerce has announced its preliminary affirmative determinations in the antidumping tariffs ranging from 21.31 per cent to 271.28 per cent on crystalline solar cells imported from Cambodia, Malaysia, Thailand, and Vietnam, aiming to protect domestic solar manufacturing from low-cost Southeast Asian imports.
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The Asian Development Bank (ADB) and Gulf Renewable Energy Company Limited have finalised an $820 million loan to provide construction financing for 12 renewable energy projects in Thailand. The portfolio includes eight ground-mounted solar photovoltaic (PV) plants with a contracted capacity of 393 MW and four solar PV plants with battery energy storage systems totaling 256 MW of contracted capacity and 396 MWh of energy storage.
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Hero Future Energies Private Limited (HFEPL) has inked a Memorandum of Understanding (MoU) with the Government of Karnataka in India to invest Rs 110 billion in renewable energy and green hydrogen. The investment will be utilised in establishing Renewable Energy, Green Hydrogen, and its derivatives projects in Karnataka for two to three years.
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Sembcorp Industries, through its wholly owned subsidiary Sembcorp Green Infra Private Limited, has won a 300 MW inter-state transmission system (ISTS) – connected wind-solar hybrid power project from NTPC Limited. This project is part of NTPC’s 1.2 GW renewable energy bid and will be developed under a build-own-operate model.
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Tata Power and the Asian Development Bank (ADB) have signed a Memorandum of Understanding (MoU) at the COP29 climate conference in Baku, Azerbaijan, to explore financing renewable energy and infrastructure projects valued at $4.25 billion. The projects aim to strengthen India’s renewable energy capacity, enhance power distribution networks, and expand clean energy infrastructure.
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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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Elapath Energy and RenewableErgon have to develop a 150 MW solar project in Budai, Chiayi County, Taiwan. This $250 million project aims to begin its first phase of work in December 2024 upon receiving pending regulatory approval from Taiwan’s Energy Administration, Ministry of Economic Affairs (MOEA). The project completion is expected by February 2025.
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Greenzo Energy Pvt Ltd has secured a deal to develop and install a 120 MW solar park project in Nepal. This engineering, procurement, and construction (EPC) contract is valued at Rs 5 billion and is expected to boost Greenzo Energy’s order book to Rs 19 billion. The company will oversee the complete execution of the project.
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Serentica Renewables has announced plans to develop 10,000 MW of renewable energy projects in Andhra Pradesh, India combining solar, wind, and storage technologies to deliver round-the-clock green power. Reportedly, Serentica is targeting an expansion of its renewable energy portfolio to 17,000 MW by 2030, with 5,000 MWh of storage capacity planned.
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