Emeren Group, a US renewable energy producer, sold Matrix Renewables two battery energy storage systems (BESS) in Italy with a combined capacity of 293 MW. The transaction is part of the June 2023 DSA Emeren and Matrix agreement for the expansion of the BESS portfolio by 1.5 GW. The two projects are in Apulia and Lazio, respectively.
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Vestas has sold a 656 MW wind portfolio to PLT Energia, an Italian renewable energy producer. Rothschild & Co. acted as the sole financial adviser to Vestas, while L & B acted as its legal advisor in the acquisition process. Reportedly, Bonelli-Erede acted as a legal advisor and Fichtner as a technical advisor for PLT Energia.
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Korkia and BIWO Renewables have joined forces in a partnership to develop a total of 1 GW of photovoltaic (PV) capacity in Italy. The collaboration encompasses greenfield development with a diversified strategy across locations and technologies, including ground-mounted solar PV and agri-PV projects.
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Topsoe has signed a grant agreement with the EU’s Innovation Fund for a total of €94 million in Denmark. The grant is a recognition of the company’s state-of-the art SOEC electrolysis technology and the innovation inherent in building this kind of SOEC factory. The factory will manufacture advanced, energy efficient Solid Oxide Electrolyzer Cells (SOEC).
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Solar Steel has disclosed the signing of an agreement with Naturgy to carry out the supply of over 1.1 GW solar solutions in various provinces of Spain. This portfolio of solar projects encompasses a capacity of over 1.1 GW, consisting of 760 MW of TracSmarT+ 1V solar trackers in both single-row and dual-row configurations, as well as 358 MW of RackSmarT fixed structures.
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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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Octopus Energy’s generation arm announces the launch of a new joint venture (JV) with Nexta Capital Partners to charge up Italy’s battery storage market. The new JV with Milan-based Nexta will develop up to 1.5 GW of commercial-scale battery storage systems across several projects largely in the south of the country.
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Sonnedix has commenced development on a portfolio of five solar PV projects totalling 300 MW. The construction is expected to be finished in early 2025. In addition to avoiding 58,000 metric tonnes of carbon emissions yearly, it will provide about 300,000 MWh of renewable electricity annually, enough to power 85,000 homes in the UK.
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Masdar, the state-owned renewables developer of the United Arab Emirates (UAE), struck an agreement with Austrian electricity provider Verbund to build a green hydrogen plant in central Spain. As part of the agreement, both companies will assess whether it would be feasible to construct one of the largest green hydrogen production facilities in Europe in the Castilla-La Mancha region of Spain.
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Eolus has signed an agreement to acquire YIT Energy Oy, the renewable energy division of YIT. Eolus will acquire 100 per cent of the shares in YIT Energy Oy, a wholly owned subsidiary of YIT, for a fixed purchase price of €25 million. €10 million will be paid at closing and the remaining amount will be paid in instalments during 2024–202
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Vattenfall and BASF are in advanced and exclusive discussions to partner on the Nordlicht 1 and 2 projects through a sale of 49 per cent of the project shares to BASF. Both parties have signed a MoU to formally express their joint ambition. Vattenfall will use its share of the fossil free electricity to supply its German customers.
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Iberdrola and Masdar have signed a €15 billion strategic collaboration deal to jointly develop offshore wind and green hydrogen projects in Germany, the United Kingdom, and the United States. Following the successful co-investment in Baltic Eagle in Germany, the parties’ next milestone will be to obtain a further co-investment in the 1,400 MW UK East Anglia 3 offshore wind project.
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Masdar and Taaleri Energia have acquired eight hybrid renewable energy projects in Poland. Onshore wind and solar photovoltaic (PV) technologies are part of the projects. The deal includes a 1 GW portfolio with a total capacity of more than 1 GW. Masdar’s portfolio in Europe, and specifically in Poland, where it possesses 51.4 MW of wind projects, has been significantly expanded with this acquisition from Polish developer Domrel Biuro Uslug Inwestycyjnych.
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Lhyfe plans to produce up to 330 tons of green hydrogen per day in Lubmin plant, in Mecklenburg-Vorpommern, Germany, with a targeted commissioning date by 2029. Part of Lhyfe’s backbone development strategy, this plant will feed into the German core hydrogen pipeline network, for the development of which the German government recently unveiled a €20 billion financing plan.
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Octopus Energy’s generation arm has invested in the Walney Extension offshore wind farm in the UK. It is located in the Irish Sea off the coast of Barrow-in-Furness in the north west of England. Octopus has taken a 12.5 per cent stake in the 660 MW wind farm. The wind farm is made up of 87 turbines each taller than the 158 metres high Blackpool tower.
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Statera Energy, a UK based energy storage and flexible generation developer and operator, has secured up to £300 million of debt financing through a syndicate led by Lloyds Bank. The first £144 million phase of the financing will be used to deliver Statera’s 300 MW (600 MWh) Thurrock Battery Energy Storage System (BESS).
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Metsähallitus and Vattenfall have agreed to expand the Korsnäs Offshore Wind Farm project. Vattenfall became a Metsähallitus project partner for the wind project in December 2022 when it won an extensive international tendering process. A new regional plan is being prepared for the region of Ostrobothnia where the wind farm will be located.
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European Energy, a Danish renewable energy company has divested two solar farm projects to Sosteneo SGR in Italy. The total capacity of these renewable energy projects is 231 MW, and both are situated in Sicily. The first agreement, concerning a 68 MW solar farm in Ramacca covering an area of 135 hectares, was closed in September 2023.
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A new clean energy partnership between the UK and the Republic of Korea (RoK) has been agreed to boost energy security and accelerate the clean energy transition. The partnership was signed in London by the Energy Security Secretary and RoK’s Minister for trade, industry and energy.
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Repsol, a Spanish energy company, has acquired ConnectGen, a US-based renewable development company, from Quantum Capital Group for $768 million. The 20 GW of onshore wind, solar, and energy storage projects in ConnectGen’s development pipeline will help Repsol reach its goal of 20 GW of renewable capacity by the end of the 2020s.
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