RWE Offshore Wind Japan Murakami-Tainai K.K. has been chosen in a consortium together with Mitsui & Co., Ltd. and Osaka Gas to provide a commercial-scale offshore wind project off the coast of the cities of Murakami and Tainai, Niigata Prefecture, Japan. The Japanese government has chosen the consortium to design, build, and manage a fixed-bottom offshore wind farm off Japan’s west coast.
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COP28 has concluded with a final consensus that lays out an ambitious response to the Global Stocktake and puts forward a plan to close the gaps to 2030. It calls on Parties to transition away from fossil fuels to reach net zero, encourages them to submit economy-wide Nationally Determined Contributions (NDCs).
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Honeywell revealed that it will supply VIElectron with its first batch of battery energy storage solutions (BESS) to six solar parks placed strategically throughout the US Virgin Islands. After construction is finished, the solar array and BESS will contribute to the islands’ decarbonisation efforts by supplying 30 per cent of their energy needs from renewable sources.
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Sweden’s electricity and heating sector is predominantly fossil-free, given the country’s early adoption of carbon-neutral resources. As a result, the focus for decarbonization now rests on the industry and transport sectors. Portugal has made significant progress in its net zero ambitions, driven by government funding in green hydrogen initiatives and decarbonization of the industrial sector. The government sees industrial clusters as an opportunity to scale up renewable gas and has allocated capital to support the development of these projects.
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World leaders have been building momentum to triple global installed renewable energy capacity by 2030, from a 2022 baseline. The proposed pledge puts renewable energy at the forefront of upcoming negotiations and aligns with BloombergNEF’s own analysis on a net-zero pathway. Achieving it will require global commitments to remove bottlenecks, particularly those affecting wind and power grids, that differ by country.
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Though Africa only accounts a tiny percentage of global CO2 emissions, renewables deployment has grown substantially over the last decade, doubling between 2012 and 2022, from 28.45 GW to 58.78 GW, with an average year-on-year growth rate of 7.6%. South Africa has seen the highest growth in generation capacity, followed by Egypt. As of 2021, around 25% of installed capacity on the continent was renewables-based. Despite this growth, Africa still only accounts for less than 3% of total global renewables capacity.
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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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The Asian Development Bank (ADB) and ReNew Energy Global Plc, an Indian renewable energy firm and preferred decarbonisation partner, inked a MoU to work together on climate change mitigation and adaptation projects. Projects worth over $5.3 billion in investment between 2023 and 2028 are included in the MoU.
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RWE has inked a partnership agreement with Masdar to jointly develop the UK Dogger Bank South (DBS) offshore wind development projects. The completion of these landmark projects will continue to be led by both partners. The acquisition is anticipated to close in the first quarter of 2024, subject to customary clearances. The new alliance was signed during a ceremony held during COP28 in Dubai.
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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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This Energy Transition Norway report describes the energy future of Norway through to 2050. This approach yields a consistent and energy-balanced result, as Norway is part of the global energy system, and the country’s energy supply and demand are affected by what happens elsewhere.
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The key findings of this report indicate that the Biden administration’s fossil fuel project approvals are significantly undermining U.S. climate progress. Despite its claims that it’s advancing climate goals, the Biden administration is actively erasing the projected emissions reductions of its flagship Inflation Reduction Act and other demand-side climate policies by expanding fossil fuel extraction and infrastructure projects.
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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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Sembcorp Industries (Sembcorp) has signed two separate agreements to acquire a total of 428 MW of wind assets in China and India. Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co Ltd, has signed an agreement with Envision Energy Co Ltd to acquire 100 per cent of the share capital in Qinzhou Yuanneng Wind Power Co. Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately $130 million.
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The Finnish government adopted a resolution on launching an auction procedure concerning offshore wind power sites located in the public water areas of Finland. The offshore wind power sites to be auctioned are located in public water areas governed by Metsähallitus in the regions of Ostrobothnia and North Ostrobothnia.
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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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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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Copenhagen Infrastructure Partners (CIP), on behalf of its Copenhagen Infrastructure IV (CI IV) fund, has begun construction on Buffalo Plains. It is a 495 MW wind farm consisting of 83 Siemens-Gamesa turbines located in Vulcan County, Alberta. CIP had acquired Buffalo Plains in 2022 from ABO Wind.
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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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