Iberdrola, a Spanish energy company, has started construction on the 50.5 MW Korytnica II wind farm in Poland. The plant, which is located north of Warsaw in the Mazowieckie region, would increase the company’s onshore wind power capacity in Poland to 163 MW. Iberdrola already operates the 30 MW Zopowy wind farm in the Opole region, as well as the 82.5 MW Korytnica I wind farm.
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Germany, Belgium, the Netherlands, and Denmark inked an agreement in Esbjerg to produce 65 GW of offshore wind energy and 150 GW of green hydrogen by 2030 and 2050, respectively. Declaring their intention to become Europe’s Green Power Plant, the joint accord intends to tenfold the region’s offshore wind power capacity, with total private sector investments expected to reach €135 billion.
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The Greenko Group is setting up the world’s largest renewable energy storage plant in Kurnool, Andhra Pradesh. The 5,230 MW project is being set up at a cost of $3 billion. The project will have a total capacity of 3 GW of solar power, 550 MW of wind power, and 1,680 MW of pump storage capacity for six hours. ArcelorMittal has invested around $600 million in the project. ArcelorMittal’s investment will be used to construct 1 GW of solar energy capacity for the project. The project is expected to be commissioned by 2023.
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Vattenfall, Sweden’s state-owned power company, has received permission from the Swedish government to build Kriegers Flak, a 640 MW offshore wind farm. The Kriegers Flak plant, located in the south of the Baltic Sea, will be equipped with 40 to 50 wind turbines and will generate around 2.6 TWh of green electricity per year. The offshore wind farm will generate enough clean energy to power more than 500,000 homes.
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Vattenfall, Sweden’s state-owned power company, is set to open its Blakliden Fäbodberget onshore wind farm in the municipalities of Sele and Lycksele. Vattenfall owns a 30 per cent stake in the 353 MW wind farm, which is jointly owned by Vattenfall, Vestas, and AIP Management. The facility is equipped with 84 wind turbines and has the capacity to generate 1 tWh of clean energy, enough to power almost 220,000 homes in the area.
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Greencoat UK Wind Plc has agreed to acquire a net 12.5 per cent stake in the 1.2 GW Hornsea One wind farm in the UK waters for GBP 400 million. Greencoat Capital LLP renewable energy fund will purchase the interest from Global Infrastructure Partners (GIP), which owns Hornsea One in a 50/50 joint venture with Denmark’s Ørsted A/S.
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The EPP2040 places an emphasis on increasing renewable electricity generation to drive the energy transition, especially on solar PV and offshore wind. It includes targets for solar PV capacity of 5-7 GW by 2030 and 10-16 GW by 2040, and for Poland to have 1 million prosumers using distributed renewables (mainly PV) by 2030. Although the EPP2040 was released in February 2021, it does not reflect the reality of PV deployment in Poland.
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The US energy transition will see considerable new renewable capacity added over the decade, yet significant challenges remain to the sector’s growth. Non-hydropower renewables will continue to be the largest capacity growth segment in the US power market with over 200GW of new capacity expected between 2022 and 2031. We expect the segment’s share of total generation to rise from 17% to 27.7%.
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The US Department of the Interior (DOI) has announced that TotalEnergies of France and Duke Energy Corp (DUK.N) of the US have been awarded offshore wind leases in federal waters off the coasts of North and South Carolina. The winning bids totalled $315 million, with Duke receiving $155 million and TotalEnergies receiving $160 million.
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Corio Generation, a portfolio company of Green Investment Group (GIG), has partnered with the Ontario Teachers’ Pension Plan Board (Ontario Teachers) to develop up to 9 GW of offshore wind capacity worldwide. The collaboration encompasses 14 fixed-bottom and floating projects that Corio is currently building in South Korea, Taiwan, Japan, Ireland, and the UK.
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Shell and Eneco have agreed to work jointly on the offshore wind tender process for the Hollandse Kust (west) (HKW) VI and VII lots, which are located off the coast of the Netherlands. The two companies will submit their bids through their two joint venture firms, Ecowende and SchakelWind. Ecowende will bid for HKW VI, while SchakelWind will submit an offer for HKW VII.
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RWE Renewables, a German renewable energy company, has begun commercial operations at its El Algodon Alto onshore wind farm in Texas’ San Patricio County. The 200 MW onshore wind plant, which is part of the Electric Reliability Council of Texas (ERCOT) south market, is equipped with 91 Vestas wind turbines. The onshore wind farm will generate enough electricity to power over 60,000 homes.
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China’s transition to a subsidy-free market in 2021 resulted in 34% less capacity installed in the country YoY (-24 GW), which heavily impacted the global total. However, the nearly 48 GW installed in China in 2021 indicates that strong market fundamentals remain despite the shift in policy. If we exclude China, the rest of the world added more than 47 GW of new capacity, a 14% increase YoY, driven primarily by significant growth in Asia Pacific (+134%), Northern Europe (+100%), and Latin America (+82%).
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Acciona Energía, a Spanish renewable energy company, has begun construction on the MacIntyre complex, a 1,026 MW wind farm in Queensland, Australia. MacIntyre and Karara wind farms are part of the $1.4 billion wind complex. MacIntyre is a 923 MW wind farm in which ACCIONA Energía owns a 70 per cent share and Ark Energy owns the remaining 30 per cent.
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Verbund, an Austrian electricity provider, has announced the purchase of a renewable energy portfolio in Spain from various funds of the Q-Energy Group for an undisclosed sum. The vendor funds will be managed by Q-Energy Private Equity, a green energy investment fund manager.
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Global Infrastructure Partners (GIP), a US-based infrastructure investor, has agreed to purchase wpd offshore, the German renewable project developer’s offshore wind company. wpd offshore wind has constructed 7 GW of capacity and commenced operations in fourteen European and Asia-Pacific (APAC) regions since its inception.
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Vestas, a Danish wind turbine manufacturer, has won a contract to supply and install wind turbines for the 423 MW Novo Horizonte wind park in Brazil from Pan American Energy Energias Renováveis. The wind farm, which is located in the Brazilian state of Bahia, will receive 94 V150-4.5 MW wind turbines from the company.
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Vena Energy, a Singapore-based renewable energy company, has chosen Offshore Design Engineering (ODE) to serve as the owner’s engineer for its 384 MW Yokji offshore wind farm in South Korea. Under the contract, basic engineering, wind turbine generator package support, engineering, procurement, and construction preparation support services are included.
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Denmark is planning to set up two energy islands that can supply renewable energy produced by offshore sources to the domestic market of Denmark and other European countries. Denmark will build the first island in the North Sea to serve offshore wind turbines with a 3 GW initial serving facility. The second Denmark energy island will be built in the Baltic Sea’s Bornholm islands, with a serving capacity of 2 GW.
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Galp, a multinational energy corporation headquartered in Portugal, has agreed to purchase 4.8 GW of solar and wind energy projects in Brazil from SER Energia and Casa dos Ventos. The agreement with SER Energia, a Brazilian solar designer, encompasses the purchase of 4.6 GWp of projects currently under construction in Brazil. Galp will acquire a group of 216 MW wind farms being developed in Brazil’s north-east region with Casa dos Ventos.
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