The NZIA proposal addresses some important bottlenecks for the scale-up of hydrogen technologies and uses, via accelerated permitting procedures, facilitation of public and private financing, access to market and skills development, amongst others. This proposal is welcome, but several key shortcomings need to be addressed during the legislative process for an impactful implementation.
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The International Renewable Energy Agency (IRENA) produces comprehensive, reliable datasets on renewable energy capacity and use worldwide. Renewable energy statistics 2023 provides datasets on power-generation capacity for 2013-2022, actual power generation for 2013-2021 and renewable energy balances for over 150 countries and areas for 2020-2021.
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Impala, an investment company owned by Jacques Veyrat, has teamed up with Dutch investment company EXOR to expedite the growth of Portuguese renewable energy and energy storage developer TagEnergy. The two will set up a joint holding company, TagHolding, which will become TagEnergy’s largest shareholder. Financial terms of the transaction were not revealed. Other major investors in TagEnergy include infrastructure investor Omnes and French asset manager Mirova.
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Keppel, a Singapore-based infrastructure company, and a partnership comprising Mitsubishi Power Asia Pacific and Jurong Engineering have broken ground on the 600 MW Keppel Sakra Cogen (KSC) facility on Singapore’s Jurong Island. The combined cycle gas turbine power plant, which cost $567 million, should be finished in the first half of 2026. It will be one of the most energy-efficient power plants in the country with features including lower emission intensity and more operational flexibility.
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RWE Clean Energy, a subsidiary of German utility RWE, has announced eight long-term power purchase agreements (PPAs) with Dominion Energy Virginia to supply solar power totaling 300 MW. RWE will supply power from its seven solar projects, generating 750,000 MWh of clean energy. All of the projects are located in the US state of Virginia. The portfolio of solar projects covered by the PPAs will power 70,000 homes in Virginia.
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Energy giant Enel Chile, through its Chilean unit Enel Green Power Chile, has begun commercial operation of the country’s 398MW Guanchoi solar plant. Enel received authorisation from the national electricity coordinator to commence operation after the solar plant passed all tests ensuring its safety and performance. Located in the Atacama region in the country, the Guanchoi solar plant is powered by 893,508 solar panels.
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ACWA Power, a Saudi developer of power generation and desalinated water production facilities, and the New and Renewable Energy Authority (NREA) have signed a memorandum of understanding (MoU) to allot land for the construction of a 10 GW wind project in Egypt. The agreement was signed at the headquarters of the Council of Ministers in the new city of El Alamein, Egypt.
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The European Commission and Argentina have reached an agreement for the supply of LNG and collaboration on the spread of hydrogen and renewable energy proliferation. The memorandum of understanding (MoU) will see cooperation in hydrogen, renewable energy, energy efficiency, and natural gas. A “stable and secure” LNG delivery from Argentina to the EU will be established as per the terms of the agreement.
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Innergex Renewable Energy has received $534 million in construction financing from BNP Paribas, Credit-Agricole CIB, and Export Development Canada for the construction of a 329.8MW Boswell Springs wind farm in Albany County, Wyoming. Mortenson, a Minnesota-based construction firm, has been appointed as the wind farm’s engineering, procurement and construction contractor.
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Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP) have applied to Bangladesh’s government for permission to build a 500MW wind farm in the Bay of Bengal. According to a preliminary analysis conducted by the two companies, the project might generate hundreds of direct and indirect employment during its construction phase.
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MaxSolar, a German company that produces renewable energy, has announced that it has obtained €410 million in financing for solar projects throughout Germany. Over the following five years, with the help of the finance, the company will construct 2 GW of solar production capacity. The funds will be dispersed in two installments, each worth $185.1 million and $274.9 million, and it will be used to construct solar capacity from MaxSolar’s project pipeline.
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Inpex, a Japanese oil and gas exploration and production company, has agreed to acquire a 50 per cent stake in the Australian operations of Italian utility Enel. Inpex will purchase a stake in Enel Green Power Australia and Enel Green Power Australia Trust (collectively EGPA) as part of the acquisition. These two businesses are wholly owned by Enel Green Power, a division of Enel. With debt of about €140 million, the acquisition values EGPA at about €400 million.
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Ignitis Renewables and its strategic partner Ocean Winds, a joint venture of Engie and EDP Renewables, have placed the highest bid in a tender for 700 MW of offshore wind granted by the Lithuanian Government. The duo offered $22.02 million as a development fee to become the provisional winners of the tender. The Lithuanian National Energy Regulatory Council organised the tender with the concept of real-time bidding, in which bidders competed for the highest development fee.
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Metso has entered into a strategic partnership with Canadian mineral development company, Avalon Advanced Materials, to establish terms to develop a lithium hydroxide production facility. The facility will process lithium mineral concentrates that are essential for the North American electric vehicle (EV) value chain development. According to the non-binding Memorandum of Understanding (MOU), Metso and Avalon seek to agree on a definitive agreement to establish a lithium hydroxide processing facility.
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Under three power purchase agreements (PPAs), Spanish utility Iberdrola SA will supply renewable electricity to Vodafone in Germany, Portugal, and Spain. As per the terms of the three agreements, the UK-based telecoms operator will obtain 410 GWh of solar energy annually. The recently constructed Velilla photovoltaic (PV) plant in Palencia, Spain, will supply Vodafone Portugal, and the Cedillo PV project in Caceres, Spain, will provide Vodafone Spain with 280 GWh annually.
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Mitsui & Co, RWE, and the Port of Tilbury have signed a memorandum of understanding (MoU) to construct two green hydrogen projects at the Port of Tilbury in Essex, UK. The partnership intends to assist the UK in reaching net-zero emissions by 2050. The first project entails a modest proof-of-concept demonstrator project that produces green hydrogen, which will be used to decarbonise port equipment from fossil fuels to hydrogen in order to reduce carbon emissions.
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Centrica, an international energy corporation, has acquired development rights to a battery farm in Perthshire, Scotland. Through its subsidiary Centrica Business Solutions, Centrica, the parent company of British Gas in the UK and Bord Gais in Ireland, acquired the development rights to the battery storage facility. The plant’s capacity will be 65 MW. It is the company’s largest battery storage project to yet. The plant’s 65MW will be able to power up to 130,000 homes for an hour.
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Skyborn Renewables, a German renewable energy developer has filed an application with the Swedish Government for the development of a 2.8 GW offshore wind farm. Called Fyrskeppet, the offshore wind farm will be located north of Örskar in Uppsala County, about 50km from the coast. The project will be powered by a maximum of 187 wind turbines. When completed, the wind farm is expected to generate up to 11 terawatt-hours of clean energy.
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India, which has set a goal to install 500 GW of non-fossil-fuel-based energy capacity by 2030, is a front runner in renewable energy installations. The country’s green commitment is evident in the recently published National Electricity Plan (NEP) (Volume I: Generation) by the Central Electricity Authority (CEA). The new plan estimates more than 400 GW of capacity addition in the renewable energy sector, far exceeding the combined capacity addition of less than 70 GW in the thermal and nuclear power sectors.
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To fully reap the benefits of the upcoming capacity, optimise operating costs and increase regional power exchange, the state-owned electric company Saudi Electricity Company (SEC), through its wholly owned transmission subsidiary, National Grid S.A, continues to pursue opportunities to connect its grid with those of other countries in the region. Currently, it is working on cross-border interconnectors with Iraq, India, Jordan and Egypt.
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