Encavis AG has acquired a Spanish solar park portfolio from BayWa r.e. The Almodóvar solar park is a 95 MW solar farm and is already under construction. It is located in Andalucía near the city of Córdoba and has an annual generation of 187 GWh. The solar park is being fitted with advanced monocrystalline PV modules on single-axis trackers.
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Liquid Wind and Uniper have inked a strategic partnership agreement for the development of eFuel facilities to produce fossil-free eMethanol. By joining forces, the companies will leverage each other’s strengths and skills for the commercial-scale development of eFuel facilities, reducing costs, risks and developing the supply chain.
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Gunvor Group and Quercus Real Assets Limited are partnering for the development of up to 3 GW of solar photovoltaic capacity in Italy. According to the agreement, Quercus will leverage its experience in developing renewable projects from permitting to “ready to build” status, while Gunvor will provide funding, management, and optimisation of assets through power purchase agreements.
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KR and IGNIS have partnered to launch IGNIS P2X. IGNIS P2X is a new Power-to-X platform to develop green hydrogen and ammonia projects for industrial applications in hard-to-abate sectors. KKR will invest up to €400 million in the development and construction of future projects. Both the companies will own 50 per cent stake each in IGNIS P2X.
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Encavis AG has secured €300 million syndicated revolving credit. The oversubscribed short-term credit will finance the purchase of wind and solar projects, until 30th April 2025. Furthermore, this is under the company’s accelerated growth strategy 2027. The debt was extended by a funding consortium of eight lenders and led by the Dutch COÖPERATIEVE RABOBANK U.A.
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Sonnedix has entered into two Framework Agreements with Astronergy and Sungrow for the supply of equipment globally. The first agreement involves the supply of 750 MWp of PV modules from Astronergy. The second agreement, signed with Sungrow, covers the supply of 625 MWac of inverters and MV stations.
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Masdar has inked a definitive agreement with GEK TERNA SA and other shareholders of TERNA ENERGY SA to buy 67 per cent of the company’s outstanding shares at completion of the transaction. The transaction is subject to regulatory approvals and other closing conditions. Following the completion of the transaction, Masdar will initiate an all-cash mandatory tender offer to buy all the remaining outstanding shares
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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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Arise, through its Finnish subsidiary Pohjan Voima, has entered into a co-operation agreement with Finsilva. The co-operation expands opportunities for the development of new wind and solar projects, which may also include battery storage. Pohjan Voima and Finsilva have pinpointed five new project areas suitable for developing approximately 500 MW of wind and solar power. These early-stage projects will now be incorporated into Arise’s portfolio.
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OMV Petrom has expanded partnership with Renovatio. OMV has acquired 50 per cent stake in three photovoltaic projects totalling 130 MW. Both the companies will jointly develop, construct, and operate the projects. The transactions are anticipated to be finalised in the second half of 2024, subject to certain conditions. The parties have agreed to keep the purchase price confidential. These new projects already have access to the national power transmission grid.
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SC Net Zero Ventures, a venture capital investment fund managed by Suma Capital in alliance with Repsol has raised €125 million in its first investment closing. It targets a final goal of €150 million. Repsol and Suma Capital collaborated in 2022 to create SC Net Zero Ventures. Furthermore, Repsol has contributed €50 million in the investment.
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Vestas has secured a 124 MW order for a wind energy project located in Telsiai, Lithuania. The company will provide 20 V162-6.2 MW wind turbines, along with the necessary supply, delivery, and commissioning services. Following the project’s completion, Vestas will service the turbines throughout their operational lifespan under an Active Output Management 5000 (AOM 5000) service agreement.
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Uniper has partnered with NGEN to develop a 50 MW/100 MWh battery storage system at the Heyden power plant site in Petershagen. The battery storage system is anticipated to be operational by 2025. The partnership between Uniper and NGEN emphasises the joint commitment to innovation and sustainability.
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Latvenergo AS has purchased the 124 MW Telšiai project from Utilitas Wind. The project is expected to commence energy production in the first quarter of 2026. The construction of the wind farm will be managed by Utilitas Wind until completion. Furthermore, installation of 20 Vestas 6.2 MW wind turbines is planned within the framework of the project. Upon completion, the Telšiai wind farm is expected to produce sufficient electricity to power over 125,000 households annually.
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Atlantic Green has selected Ameresco and Envision Energy to develop the Cellarhead project, a 300 MW battery energy storage project (BESS) with a maximum energy capacity of 624 MWh. The Cellarhead BESS project will be connected to National Grid’s Cellarhead substation and will provide the UK with additional energy security and reliability.
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The Eurasian Development Bank and Bishkek Solar have inked a cooperation agreement to finance the construction of a 300 MW photovoltaic power station in Toru-Aigyr village, Issyk-Kul Region, Kyrgyz Republic. The project involves several significant agreements, such as a 25-year contract with the National Electric Grid of Kyrgyzstan (NEGK) to purchase all the electricity produced, a public-private partnership agreement with the Ministry of Energy of the Kyrgyz Republic, and a 25-year investment agreement with the Cabinet of Ministers of the Kyrgyz Republic.
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Ohmium International has been selected to equip the first green hydrogen project in Croatia. Ohmium is will serve as the PEM electrolyzer supplier for IVICOM, a Croatian engineering and construction company, on a project to develop a 10 MW green hydrogen plant at the INA Rijeka Refinery.
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Fotowatio Renewable Ventures (FRV) is partnering with Will & Must to build 600 MW solar projects in Finland. Both parties have established a framework development agreement to develop the portfolio of photovoltaic projects. Furthermore, the portfolio contains several projects at various planning stages, expected to be ready for construction between 2024 and 2026.
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Siemens Energy has received a $1.52 billion contract from Energinet, the Danish state-owned grid operator, to improve Denmark’s electrical infrastructure. Over the next eight years, Siemens Energy is contracted to supply transformers and switchgear for about fifty new or renovated 150kV high-voltage substations. The project, which includes a four-year initial phase valued at up to €800 million, is essential to Denmark’s energy transformation plan.
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A consortium between Elicio and BayWa r.e has won AO5 tender to develop a commercial floating offshore wind farm in France. The award is the outcome of a competitive tender process initiated in 2021 for an offshore floating wind project with a capacity between 230 and 270 MW, located in the south of Brittany off the coast of Lorient.
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