Jupiter Power has secured $286 million in project financing to support the construction of two standalone battery energy storage systems (BESS). These projects are Tibbits in Michigan and Tidwell Prairie in Texas. The projects have a combined capacity of 300 MW/800 MWh and are expected to begin commercial operations later in 2025.
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Green Genius and Eiffel Transition Infrastructure, a newly established fund managed by Eiffel Investment Group, have formed a joint venture to develop and build a 500 MW solar park portfolio in Italy. Eiffel will make an initial investment of up to €15 million through this joint venture to assist the growth of this portfolio, with additional funds set aside for supporting the projects during the construction phase.
Read Moreenergy infrastructure. The investment will focus on rural communities, agricultural producers and businesses.
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Magnora, an Oslo-listed company, has partnered with a Swedish wind power company to accelerate the construction of “Sydkustens Vind,” a 500 MW shallow-water offshore wind project in the Baltic Sea. It will be located about 8 km off the southern coast of Sweden and will have a capacity of 2 TWh per year.
Read MoreThe Renewable Energy Policies for Cities: Experiences in China, Uganda and Costa Rica series of reports by IRENA aims to provide much-needed knowledge regarding the deployment of renewable energy in medium-sized cities, focusing on the challenges faced and successes achieved to date.
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The Japanese green bond market continues to see strong momentum, growing by a third in 2020. Political developments will give further impetus. Japan’s commitment to net-zero emissions by 2050 represents a key milestone for the country, which is stepping up efforts on multiple fronts
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Elektroprivreda HZHB, a Bosnian power utility, plans to develop a 132 MW wind project in Bosnia. The project will be located near Rakitno, in the southern part of the country. The project will consist of 20 wind turbines. The feasibility study for the project has recently been completed.
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Canada has offered a temporary waiver on debt payment of about $644 million for developing Newfoundland and Labrador’s Muskrat Falls hydroelectric power plant. The waiver is expected to provide some relief to a province which is already in debt.
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German renewable energy group, PNE AG announced its plans to develop a 2-GW offshore wind farm in the waters of the Phu Cat and Phu Dinh districts, in the Central Vietnamese province of Vietnam. The announcement was made at a working group meeting between the German company and the authorities of the province. An estimated investment of $4.8 billion will be required for the project as the company aims to install 154-166 wind turbines in the province.
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The Sudanese transitional government has signed an agreement with the United Arab Emirates (UAE) for the development of the electricity sector in Sudan through the construction of several photovoltaic solar power plants. The agreement of intent foresees the production of 500 MWp from solar energy, which the country, with its desert climate, has enormous potential.
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BP and Microsoft have agreed to collaborate as strategic partners to facilitate digital transformation in energy systems and help the companies work towards their goals of becoming carbon neutral. A memorandum of understanding was signed by the two firms which includes the capabilities of each company to further the world’s collective goal of decarbonisation.
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It is estimated that clean technology has the potential to drive $1-2 trillion per annum of green infrastructure investments and create 15-20 million jobs worldwide.
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