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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KPI Green Energy Limited, the renewable arm of KP Group, has bagged new engineering, procurement, construction (EPC) orders from Gujarat Urja Vikas Nigam Ltd (GUVNL). The company will be responsible for developing 1,003.7 MW of renewable energy projects. These projects were won under various tenders and in three different phases.
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Suzlon Group has received a 400 MW order from JSP Green Wind 1 Private Limited, an SPV of Jindal Renewables Power Private Limited. The project is Jindal group’s debut in the wind energy segment. Suzlon will supply 127 state-of-the-art wind turbine generators (WTGs) with Hybrid Lattice Tubular (HLT) towers, each having a rated capacity of 3.15 MW in the Koppal region of Karnataka.
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SolaX Power has planned on investing a significant sum of $1.5 billion to establish a research and manufacturing facility in Zhejiang Province, China. The project will prioritise the development of utility-scale energy storage systems and integrated smart energy solutions.
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B.Grimm Power has signed 25-year power purchase agreements (PPAs) with the Electricity Generating Authority of Thailand (EGAT) and the Provincial Electricity Authority (PEA) for a total of 323.3 MW across eight solar projects in Thailand. The agreements, involving B.Grimm’s subsidiaries and joint ventures, have commercial operation dates set from 2026 to 2030.
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REC Limited, an Indian power sector NBFC, has raised $500 million through green dollar bonds for numerous renewable energy projects. This was part of a $10 billion global medium-term programme of the company. The 5-year note has a coupon rate of 4.75 per cent per annum to be paid semi-annually. It has a maturity date of September 27, 2029.
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