MEAG has agreed to buy a 75 per cent stake in Stor-Skälsjön, a 260 MW wind power project in Sweden, from Eolus Vind and Hydro REIN. Under this agreement, Eolus will sell its 51 per cent stake in the wind project for consideration of $19.8 million, while Hydro REIN will sell its 24 per cent stake for $9.3 million. Hydro REIN will preserve its 25 per cent stake in the project and will continue to be a co-owner of the project.
Read More
Europe builds 38% more wind and solar for power generation by 2050 in the Net Zero Scenario compared to the Economic Transition Scenario. To reach these volumes, solar and especially onshore wind capacity additions need to grow above the industry’s historical rate this decade. Over 2021-2025 alone, deployments in both scenarios need to double compared to 2016-2020, increasing a further 60-80% over 2026-2030.
Read More
Iceland, Denmark and the Netherlands are the countries most prepared for a low-carbon future, according to a new report. Other countries making up the top 10 of the Green Future Index 2022 are the United Kingdom, Norway, Finland, France, Germany, Sweden and South Korea. The index is a ranking of 76 economies published by MIT Technology Review Insights, the custom publishing division of the bimonthly magazine at Massachusetts Institute of Technology.
Read More
Greenko ZeroC (GZC), a subsidiary of Greenko Group, an Indian clean-tech company, and John Cockerill, a Belgium-based manufacturer of high-capacity alkaline electrolysers, have agreed to a 50:50 joint venture to set up a green hydrogen electrolyser factory in the Indian-subcontinent. The two companies will build a hydrogen electrolyser gigafactory with a capacity of 2 GW which is aimed at substituting 8 per cent of India’s LNG imports.
Read More
OX2, a Swedish renewable project developer, has signed an agreement with TMV Green to build 500 MW of onshore wind facilities in Estonia. For the wind facilities in the project portfolio, TMV Green will be responsible for land use, licensing, and grid connection. Since 2020, the company has been developing wind power projects in Estonia.
Read More
A European Parliament resolution stated that the EU should immediately cease imports of Russian oil and gas in the event of an invasion. Yet Member States currently disagree on a prompt and complete ban. Germany is among those blocking it. This division is no surprise. The EU imports 90% of its gas. Yet given this context, could the current crisis still be a game changer for the EU and Member States instead of throwing us back to high fossil fuel reliance and jeopardizing climate targets and the Green Deal?
Read More
China has been the world’s largest wind market by installed capacity since 2010. The continued growth of wind in China over the past decade is mainly due to ambitious policies from the central government. 2020 was a record year, with more than 54 GW of installations primarily driven by the expiration of the onshore wind FiT. Although onshore wind growth slowed down last year, China retained strong momentum in 2021.
Read More
TotalEnergies, a France-based oil and gas company, has joined forces with KGHM, a Polish mining company, to participate in an auction for offshore wind projects. In the Polish Baltic Sea, the Polish government will lease 11 offshore development regions with a combined capacity of more than 10 GW. They aim to contribute to a cost-effective supply of green electricity in the country.
Read More
Ørsted, a Danish renewable energy company, has signed an option agreement with Falck Renewables and BlueFloat Energy to develop an offshore wind site off Scotland’s north-east coast. The companies signed the agreement with Crown Estate Scotland (CES). The deal comprises the construction of a floating wind farm with a capacity of up to 1 GW, which was secured in the latest ScotWind offshore wind leasing round.
Read More
Shell, a British oil and gas company has been preparing binding bids to acquire Q-renewable Energy’s energy assets in Spain, which are worth €1 billion in total. Reportedly, in addition to Shell, Naturgy and Austrian electricity provider Verbund are also preparing offers for the portfolio. Q-Energy, a Spanish fund manager, is selling the solar assets to take advantage of rising demand from European energy companies seeking to meet various government’s climate change goals.
Read More
Lamprell, an Emirati construction company, has signed a MoU with NOV, a US-based firm, to supply three offshore floating wind farms to Cerulean Winds, a British renewable energy developer. According to the provisions of the MoU, Lamprell will provide fabrication, assembly, and outfitting services for the construction of NOV’s tri-floaters, which will act as the floating foundations for the three wind farms. Each wind farm has a capacity of 1 GW.
Read More
Hyundai and Kia are making new investments to allow their customers to charge their electric vehicles with clean energy. This energy will originate from a range of wind farms being built around Europe. Hyundai has announced that its ‘Charge myHyundai’ network would be connected with green energy, allowing Hyundai electric vehicle drivers to choose green charging choices provided by Digital Charging Solutions.
Read More
O2 Power, a India-based renewable energy producer, has signed a memorandum of understanding with Powin, a USA-based battery energy storage company, to supply battery storage solutions for the Indian renewable energy sector. Powin will reportedly be in charge of battery energy storage system (BESS) delivery and commissioning, while O2 Power would provide full EPC services for the projects they are constructing.
Read More
Global renewable generation capacity is expected to increase by more than 60 per cent from 2020 levels to over 4,800 GW by 2026. Renewables are also expected to account for about 95 per cent of the growth in worldwide capacity by 2026, with solar energy accounting for majority of the increase. Between 2021 and 2026, the amount of renewable capacity added is predicted to be 50 per cent more than what was added between 2015 and 2020.
Read More
According to South Africa’s Department of Mineral Resources and Energy, the sixth round of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP) has begun in South Africa. The authorities intend to provide companies 1 GW of utility-scale solar and 1.6 GW of wind in the REIPPPP’s sixth round.
Read More
Equinor, a Norwegian energy company, has signed an agreement with Naturgy, a Spanish energy company, to compete in Spain’s upcoming offshore wind auction. The country’s first offshore wind auction is slated to take place in 2023 off the coast of the Canary Islands. Its mission is to support the Spanish government in attaining its target of installing up to 3 GW of offshore wind capacity by 2030.
Read More
Envision Group, a Chinese energy company, has signed a letter of intent with Impact Energy Asia Development (IEAD) to supply wind turbines for the Monsoon Wind Project in Laos. For the 600 MW project, the company intends to deliver 133 EN-171 wind turbines, each having a capacity of 4.51 MW. The project is being developed by IEAD, and once fully operational, it will generate over 1,700 GWh of green energy each year.
Read More
The Ingka Group, based in Sweden has announced its acquisition of nine solar power park projects in Germany and Spain for €340 million. Notably, Ingka Group owns the majority of IKEA stores worldwide. The solar installations have a combined capacity of 440 MW. The portfolio was purchased by the Ingka Group solar from ENERPARC, a solar power developer.
Read More
ACEN, a power company based in the Philippines, and ib vogt, a German engineering firm, have agreed to enter into a joint venture (JV) to fund the construction and operation of nearly 1 GW of solar power facilities across the Asia-Pacific region. The proposed JV will operate in Bangladesh, Malaysia, Indonesia, Vietnam, Malaysia, and other countries in the region to develop shovel-ready and late-stage projects.
Read More
Greencoat Renewables, an Irish renewable investment firm, has agreed to purchase a 50 per cent stake in the 312 MW Borkum Riffgrund I offshore wind farm for $383 million in cash. Greencoat Renewables will acquire a 31.5 per cent share from Kirkbi and an 18.5 percent stake from William Demant Invest as part of the acquisition. Greencoat Renewable’s total installed capacity will increase to 993 MW as a result of the agreement.
Read More