Category: Solar Power

Swift Current raises $779 million for solar project in the US

Swift Current raises $779 million for solar project in the US

August 10, 2023 | , ,

Swift Current Energy, a utility-based renewable developer in the US, has raised $779 million for its 800 MW DC (593 MW AC) solar project namely Double Black Diamond. The project is located 30 miles west of Springfield, Illinois. Mitsubishi UFJ Financial Group, Société Générale, and Truist provided the finance. An $84 million letter of credit facility and $695 million in construction and tax equity bridging loans are included in the package.

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PVH bags L&T’s 805 MW solar trackers contract

PVH bags L&T’s 805 MW solar trackers contract

August 9, 2023 | , ,

PV Hardware (PVH), a Spain-based global manufacturer and supplier of solar trackers, has announced the signing of a contract with Larsen & Toubro (L&T) for the supply of 805 MW (DC) capacity of solar trackers. The PV project will be situated in Qassim province near Ar Rass city, Saudi Arabia. As a strategic effort for Saudi Vision 2030, the project will be a part of the National Renewable Energy Programme and it will be managed by the Ministry of Energy.

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Scatec and partners start construction of 531 MW solar facility in Brazil

Scatec and partners start construction of 531 MW solar facility in Brazil

July 12, 2022 | , ,

The 531 MW Mendubim solar project in Rio Grande do Norte, Brazil, is currently being developed by the Norwegian renewable energy company Scatec and its partners. Equinor and Hydro Rein are partners in the project’s development. The three firms will jointly provide engineering, procurement, and construction services while also each holding a 33.3 per cent economic interest in the solar power project.

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Eurowind Energy to set up five energy centers

Eurowind Energy to set up five energy centers

July 11, 2022 | , , , ,

In Denmark, Eurowind Energy intends to build five big land based energy facilities. The overall capacity of all the centres will be around 2.5 GW. According to the business, all five projects will include wind turbines, solar PV, batteries, and PtX hydrogen synthesis. In addition, the business intends to focus on integrating biogas and hydrogen refining into the centres.

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Enlight to acquire 525 MW of renewable project portfolio in Croatia

Enlight to acquire 525 MW of renewable project portfolio in Croatia

July 7, 2022 | , , ,

A 525 MW portfolio of renewable energy projects in Croatia will be purchased and jointly developed by Israel-based Enlight Renewable Energy for an undisclosed amount. The portfolio of renewable projects consists of a 139 MW wind project and four solar projects with a cumulative capacity of 386 MW. The projects are currently in various stages of development, and it is anticipated that construction work will start at the end of 2023 and run until 2025.

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Optimal Energy Mix: Pakistan targets raising the share of renewables

Optimal Energy Mix: Pakistan targets raising the share of renewables

July 7, 2022 | , ,

Pakistan’s power supply had been unreliable for many years in the past. To address this problem, huge investments were made in the recent past for increasing the power generation capacity in Pakistan. Source-wise, the largest share of around 25,098 MW comes from thermal, while the second largest share of 9,915 MW comes from hydro. Renewables account for around 5 per cent of the capacity, with 1,248 MW of wind, 530 MW of solar, 369 MW of bagasse.

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World Bank approves $165 million funding for residential rooftop solar projects in India

World Bank approves $165 million funding for residential rooftop solar projects in India

July 5, 2022 | , ,

In order to support 450 MW of rooftop solar deployment in India and to make distributed generation systems in the country more affordable, the World Bank has approved an additional $165 million in financing. The development bank has previously given India’s grid-connected rooftop solar program, which primarily focuses on commercial and industrial rooftop PV systems, $648 million.

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US DoE launches a $500 million mines-to-clean energy programme

US DoE launches a $500 million mines-to-clean energy programme

July 5, 2022 | , ,

On current or former mine lands across the country, the US Department of Energy (DoE) will construct clean energy projects as part of a $500 million programme. The initiative will support a number of technologies, including solar PV, microgrids, and/or energy storage, and at least two funded projects must use solar energy. In order to provide the projects, the DoE is investigating options for domestic solar manufacturers.

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Ameren Missouri acquires Huck Finn solar project in Missouri

Ameren Missouri acquires Huck Finn solar project in Missouri

June 29, 2022 | , ,

Ameren Missouri, a US-based energy company, has agreed to purchase the 200 MW Huck Finn solar project in Central Missouri with EDF Renewables under a build-transfer agreement. No financial details have been disclosed. Huck Finn, which is planned to be built on the border of Missouri’s Audrain and Ralls counties, will have the capacity to power almost 40,000 homes in the area.

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Voltalia to develop 1.5 GW solar photovoltaic cluster in Brazil

Voltalia to develop 1.5 GW solar photovoltaic cluster in Brazil

June 29, 2022 | , ,

Voltalia, a French renewable energy company, intends to construct a solar PV cluster with a capacity of more than 1.5 GW in Minas Gerais, Brazil. Voltalia, located in the Arinos region, is developing a solar cluster for its own use as well as for third parties. The company has already formed alliances with a number of companies, including CTG Brasil, which will purchase a significant portion of the solar sites once the development phase is completed.

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EnBW acquires 800 MW of solar projects in Germany 

EnBW acquires 800 MW of solar projects in Germany 

June 28, 2022 | , ,

EnBW, a German utility, has agreed to purchase 400 MW of solar projects in Brandenburg from Procon Solar. EnBW has the option to acquire an additional 400 MW of capacity under the terms of the agreement. The contract will be completed in two stages and will involve solar projects at varying stages of development. In July 2022, advanced-stage projects with a capacity of approximately 400 MW will be transferred to EnBW.

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Philippines allocates 1.57 GW of solar in auction

Philippines allocates 1.57 GW of solar in auction

June 28, 2022 | , ,

Under the first round of the 2 GW Green Energy Auction Program, the Philippines’ Department of Energy awarded 19 contracts to develop 1.57 GW of renewable energy projects. Solar, hydro, wind, and biomass projects in the Philippines’ Luzon, Visayas, and Mindanao regions were auctioned out. The winning bids will receive 20-year power supply agreements. The projects are planned to start up between 2023 and 2025.

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US Short Term Energy Outlook Report

US Short Term Energy Outlook Report

June 28, 2022 | , , ,

The largest increases in U.S. electricity generation in the next two years are likely to come from renewable energy sources, driven by expanded generating capacity from these sources. It is expected that renewable energy will provide 22% of U.S. generation in 2022 and 24% in 2023, up from a share of 20% last year. Solar capacity additions in the electric power sector total 20 gigawatts (GW) for 2022 and 22 GW for 2023.

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Aramco plans to generate 12 GW of renewable energy by 2030

Aramco plans to generate 12 GW of renewable energy by 2030

June 22, 2022 | , , ,

Aramco, the largest oil company in Saudi Arabia, plans to generate 12 GW of renewable energy by 2030. The company stated in its most recent sustainability report that it intends to decarbonize the power supply for Aramco’s operations by allocating the renewable energy credits from the investments. Reportedly, Saudi Arabia has a lot of potential for using solar energy because it receives over 300 days of sunlight annually.

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