Grenergy has unveiled its growth plans, closely linked to its strategic commitment to energy storage, which is key to advancing the decarbonisation of the energy system for a green and sustainable future. As part of the event, the company announced an investment of €2.6 billion until 2026. Of the total, €1.5 billion will be allocated to the development of its portfolio of photovoltaic projects and €800 million to boost battery storage.
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Statkraft has concluded an agreement for the purchase of Enerfin, a Spanish renewable energy company. The transaction has an estimated enterprise value of €1.8 billion, including equity and debt, subject to customary adjustments at completion. Furthermore, Enerfin’s renewable energy platform includes 1.5 GW in operation and under construction.
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Repsol has initiated a new alliance with Pontegadea incorporating it as a partner, with a 49 per cent stake, in a portfolio of 618 MW of renewable assets for €363 million. Furthermore, this portfolio of assets is made up of twelve wind farms located in Huesca, Zaragoza, and Teruel (the region of Aragon), and Valladolid (Castile and Leon), with a total installed capacity of 398 MW, as well as two PV solar plants, located in Albacete (Castile-La Mancha) and Cadiz (Andalusia), with 220 MW.
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Renewable energy sources have been increasingly adopted for building a sustainable future in India’s energy landscape. This transformation took time to develop; it is the product of coordinated efforts by the government, business and scholars, besides regional and global cooperation. The country has taken significant strides in renewable energy development, especially over the past few years. India currently has 132 GW of installed renewable energy capacity, which is about 31 per cent of the country’s total power capacity as of October 2023.
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Masdar, a United Arab Emirates based energy company, has signed a contract with Dubai Electricity and Water Authority to construct and operate the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. It will be constructed with an investment of $1.5 billion. The total energy generation capacity of the solar facility is 1.8 GW.
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Perusahaan Listrik Negara (PLN), Indonesia’s state-owned utility, is looking to add 32 GW of renewable energy and invest in a transmission system that can connect to renewable energy. Reportedly, this move is part of the company’s plan to decrease its dependency on coal and accelerate the adoption of renewables to generate the country’s power output.
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Masdar and Jinko Power have been finalised for the construction of two solar projects in Saudi Arabia with a total capacity of 1.5 GW. Reportedly, the Saudi Power Procurement Company chose the bidders for round 4 solar projects. The larger of the two plans is the 1.1 GW Al Henakiyah solar project, which will be built in western Saudi Arabia’s Medina Province.
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Recurrent Energy, a subsidiary of Canadian Solar has secured financing of $112 million for the 120 MW North Fork solar plant in Oklahoma from NordLB and Rabobank. Together with Rabobank, NordLB served as the coordinating lead and joint lead arranger for the project. Moreover, the Oklahoma Municipal Power Authority will buy the solar plant’s power under a 15 year contract.
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South Africa has signed project agreements with additional two preferred bidders appointed under the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), in Pretoria for two hybrid projects. Gwede Mantashe, Minister of Mineral Resources and Energy has finalised an agreement of 203 MW with bidders. The projects consist of a combination of battery storage technologies, solar PV and onshore wind.
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Origis Energy, a US renewables platform, has begun working on a 200 MW solar farm at the site of a previous coal-powered plant near Grants, New Mexico. Tri-State Generation and Transmission Association, a cooperative engaged in the supply of wholesale electricity, is the beneficiary of the Escalante Solar Project. It will make enough electricity to run around 40,000 households using nearly about 500,000 modules.
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North Carolina is making significant strides in the clean energy sector, with wind and solar providing nearly 10% of the state’s electricity. The state’s clean energy capacity, currently at 6,433 MW, is set to grow significantly by 2030 and is powered in part by over $15 billion in investments. And the sector – which currently employs nearly 10,000 North Carolinians – is poised for further expansion.
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Bila Solar, a Singapore based solar module manufacturer is investing $35m on a plant in Indianapolis, Indiana, which has the capacity to produce 1 GW of glassless, frameless solar modules. It plans to renovate an existing 150,000ft² facility at White River Parkway East Drive, Indianapolis. The plant, which is anticipated to be fully operational in summer 2024.
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The Federal Network Agency of Germany has opened tenders for 190.11 MW of rooftop solar capacity and 287.85 MW of biomass-fired power plants. The bid submission deadline for both auctions is October 2. The maximum bid price for rooftop solar systems is set at $ 0.122 per kWh. This is the final auction round for solar installations on buildings and noise barriers for 2023.
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The sites for three new solar farms have been secured by a joint venture (JV) between Fotowatio Renewable Ventures (FRV) Australia and Genesis Energy on the north island of New Zealand. With an aggregated capacity of 400 MW, the three solar projects, namely, Manawatu, Waikato, and Hawke Bay, have capacities of 200 MW, 100 MW, and 100 MW, respectively.
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TotalEnergies, a French energy giant, has initiated its project for the development of a 1 GW solar park in southern Iraq. The project is one of four contracts TotalEnergies has with the Iraqi Ministry of Oil for facilities in the Basra Governorate for gas, oil, renewable energy, and seawater desalination. Reportedly, TotalEnergies started its four contracts in August 2023.
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Engie, a French utility company, has purchased Texas-based battery energy storage firm Broad Reach Power for $1 billion. This transaction is expected to close in the fourth quarter of this year, subject to approval from the antitrust and energy regulatory authorities. Broad Reach Power develops and operates clean energy and energy storage projects across Texas, California, and other markets in the US.
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Solar power is entering a maturity phase in Spain: with around 8.4 GW of annual installed capacity in 2022, the country experienced its best year ever for solar PV deployment, becoming the largest European PV market in 2022. Since 2020, over 18 GW has been installed, leading to a 156% increase of the solar PV operating fleet in the last 3 years. However, there is no room for complacency: both policymakers and industry will have to actively protect the country’s GW-size industry.
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On August 18, 2023, the US Department of Commerce issued its final affirmative determinations that solar cells and modules completed in Cambodia, Malaysia, Thailand, or Vietnam using components from China, and exported to the United States, are circumventing the antidumping duty and countervailing duty orders on solar cells, whether or not assembled into modules, from China. Duties will not be collected on imports before June 2024, because of a temporary duty suspension ordered by President Biden.
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Maldives is geographically blessed with abundance of renewable energy resources, including solar, wind, and ocean, as well as an ability to manufacture green hydrogen fuel. The country can also replace a portion of its diesel consumption with cheaper, more efficient and less polluting small-scale liquefied natural gas. As per IRENA’s Renewable Capacity Statistics 2023 report, total renewable energy capacity installed in Maldives as of 2022 was 37 MW.
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A consortium of Ask New Energy Company Limited, AJ Power Company Limited, and ATN Solutions Limited has won a contract to build a 50 MW solar project. The project will be located in Nilphamari District, Dimla, northwestern Bangladesh. The project will be set up on the basis of a build-own-operate model. The power obtained from the plant will be sold to the Bangladesh Power Development Board (BPDB) at a tariff of 0.098 per kWh.
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