Tag: renewable energy

Multilateral Electricity Trade in Asia and the Pacific: Report

Multilateral Electricity Trade in Asia and the Pacific: Report

January 20, 2023 | ,

This review is intended to form a ‘discussion paper’ for the 10th meeting of the UNESCAP Expert Working Group on Energy Connectivity, which will include a discussion on facilitating the transition from bilateral towards multilateral electricity trade across
Asia-Pacific. The review in this report is developed based on a case study approach. Regional electricity markets considered in this study are classified into three groups: mature, transition and emerging markets.

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<strong>Masdar to construct renewable energy projects in Azerbaijan</strong>

Masdar to construct renewable energy projects in Azerbaijan

January 19, 2023 |

Masdar, an energy company based in the UAE has inked agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR) to develop 4 GW of wind and solar power capacity integrated with green hydrogen projects. The agreements were inked on the sidelines of Abu Dhabi Sustainability Week, a worldwide platform to accelerate sustainable development organised by Masdar. SOCAR seeks to increase Azerbaijan’s energy security as the country’s integrated oil and gas company.

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<strong>Ørsted to acquire PSEG’s equity share in Ocean Wind 1</strong>

Ørsted to acquire PSEG’s equity share in Ocean Wind 1

January 19, 2023 |

Ørsted, a Danish energy company, has agreed to acquire PSEG’s (Public Service Enterprise Group) 25 per cent equity stake in the Ocean Wind I offshore wind project in the US. The 1.1 GW offshore project, which is located about 24 km from southern New Jersey, will now be 100 per cent owned by Ørsted as part of the agreement. No financial details have been disclosed. 

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ACWA Power partners with Verbund for green hydrogen projects 

ACWA Power partners with Verbund for green hydrogen projects 

January 18, 2023 |

ACWA Power, a prominent Saudi developer has signed a partnership agreement with VERBUND, Austria’s top electricity utility, to jointly explore the potential development of green hydrogen projects in the Middle East region to produce hydrogen for Verbund to use as a renewable energy source in Central Europe, with a primary focus on Austria.

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<strong>Power Capital Renewable Energy secures €240m funding for solar assets</strong>

Power Capital Renewable Energy secures €240m funding for solar assets

January 18, 2023 |

Power Capital Renewable Energy, an Irish independent power producer, has secured €240 million in financing to bring 1.2 GW of solar capacity online by 2025. The construction equity facility was given by a consortium of lenders managed by Eiffel Investment Group, which included Belgian insurance company Ethias and the European Investment Bank. 

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Rays Power Infra commissions 275 MW solar PV project in Bangladesh

Rays Power Infra commissions 275 MW solar PV project in Bangladesh

January 18, 2023 |

Rays Power Infra has announced the completion of a 275 MW(DC) grid-connected solar power plant in Sundarganj, Gaibandha, Bangladesh. The project, which spans 600 acres of land (ten times the size of the Sydney Cricket Stadium in Australia), will power 5 lac households in Bangladesh and offset over 375 billion tonnes of carbon dioxide emissions, equivalent to 250,000 fuel engine cars. The project is the single largest solar plant in the country, comprising over 500,000 installed Solar PV modules.

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<strong>Australia releases guidelines for Townsville hydrogen hub</strong>

Australia releases guidelines for Townsville hydrogen hub

January 17, 2023 |

The government of Australia has announced rules for the Townsville Region Hydrogen Hub programme, which will invest A$70 million in the establishment of a hydrogen hub in Townsville, North Queensland. The area is set to receive an investment of A$140 million, including matching funds, to produce renewable hydrogen for local use or export.

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Ørsted plans 15 GW of offshore capacity in Sweden

Ørsted plans 15 GW of offshore capacity in Sweden

January 17, 2023 |

Ørsted has requested permission for building offshore wind projects in Swedish waters with a total capacity of 15 GW. This capacity is planned to be developed near Sweden’s southern tip and the Gulf of Bothnia in the north, and can be brought online in the next ten years. With the additional capacity, Ørsted hopes to lower power costs and encourage the growth of new green industries. Ørsted’s ongoing plan for 3 GW of renewable energy capacity in Sweden is complemented with the most recent plan.

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<strong>Hive Energy plans to develop solar and storage projects in Turkey</strong>

Hive Energy plans to develop solar and storage projects in Turkey

January 16, 2023 |

Hive Energy, a UK-based solar energy company, has announced plans to build 4 GW of solar and battery storage capacity in Turkey. With an estimated $4 billion in investment, the company plans to build the projects in 30 different cities across the country. It has requested permission to construct projects with co-located solar and battery storage that range in size from 11 MW to 230 MW.

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<strong>Total Eren and Ecopetrol to develop solar project in Colombia</strong>

Total Eren and Ecopetrol to develop solar project in Colombia

January 16, 2023 |

Ecopetrol, a Colombian energy company, has teamed with Total Eren to build a solar photovoltaic farm in Colombia with a capacity of nearly 100 MWp. The Rubiales solar project will be developed in the municipality of Puerto Gaitan in Colombia’s Meta department. The solar farm will be developed, financed, built, and operated by Total EREN.

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<strong>RWE selects Siemens Gamesa for its Thor offshore wind project in Denmark </strong>

RWE selects Siemens Gamesa for its Thor offshore wind project in Denmark 

January 16, 2023 |

Siemens Gamesa has been chosen by German energy giant RWE as the preferred wind turbine provider for its Thor offshore wind project in Denmark. For the 1 GW offshore project, Siemens Gamesa will deliver and maintain 72 of its SG 14-236 DD offshore wind turbines. A contract for the project was signed by representatives from Siemens Gamesa and RWE at the Danish National Test Centre for Large Wind Turbines in Østerild.

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Fossil Fuels Will Continue To Dominate Vietnam’s Power Mix This Decade Despite JETP Improving Renewables Prospects

Fossil Fuels Will Continue To Dominate Vietnam’s Power Mix This Decade Despite JETP Improving Renewables Prospects

January 16, 2023 |

On December 14 2022, Vietnam and the International Partners Group agreed on a USD15.5bn partnership for Vietnam to reduce coal power generation, working toward the market’s 2050 carbon net-zero goal. This partnership, also known as a Just Energy Transition Partnership (JETP), involves the EU, the UK, the US, Canada, and Japan. Similar to the JETP for Indonesia, this partnership’s outlay will involve public and private financing over the next three to five years.

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Can the Inflation Reduction Act unlock a green hydrogen economy?

Can the Inflation Reduction Act unlock a green hydrogen economy?

January 16, 2023 |

A key component of the IRA is a lucrative set of tax credits intended to accelerate the deployment of clean energy technologies such as green hydrogen. This financial support has also brought some vehicle makers off the sidelines and into the clean transportation arena, with a few even planning to scale up hydrogen vehicle manufacturing and build new infrastructure.

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Setting Sail: A new course for offshore wind development in India

Setting Sail: A new course for offshore wind development in India

January 14, 2023 |

With roughly 42 GW of installed wi­nd power capacity as of Novem­ber 2022, India is one of the leading nations in terms of wind power dep­loy­me­nts. Much older and more mature than the solar power segment, wind pow­er dominated India’s renewable energy mix for years. However, of late, the segment has wit­nessed a significant slowdo­wn in capa­city addition and lags far behind solar po­wer, which has an installed capacity of over 61 GW.

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<strong>Intersect Power starts operations at solar project in California</strong>

Intersect Power starts operations at solar project in California

January 13, 2023 |

Intersect Power, a US-based renewable energy provider, has begun commercial operations at Athos III, a 224 MWac/310 MWp solar project in Riverside County, California. With its 448 MWh of co-located battery storage, Athos III can provide power for roughly 94,000 houses. The project generated 500 peak union employment during the construction phase.

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<strong>Enfinity Global purchases 400 MW solar project portfolio in US</strong>

Enfinity Global purchases 400 MW solar project portfolio in US

January 13, 2023 |

Enfinity Global, a Spanish renewable energy company, has purchased Capital Dynamics’ 400 MW utility-scale solar portfolio in the US. The deal, which was first disclosed in September 2022, includes 28 operational solar energy generating facilities spread across California, North Carolina, and Idaho. The portfolio can produce 1,175 GWh of renewable energy yearly, enough to power up to 64,000 homes, while removing 508,000 tonnes of carbon dioxide from the atmosphere.

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<strong>Engie to acquire 1.25 GW solar and storage project portfolio in US</strong>

Engie to acquire 1.25 GW solar and storage project portfolio in US

January 12, 2023 |

Engie has purchased a 1.25 GW utility-scale solar and storage portfolio from Revolve Renewable Power, a Canadian startup. Through a share purchase agreement, Engie IR Holdings, a subsidiary of Engie, carried out the transaction. The solar and storage projects Bouse, with a 1 GW capacity, and Parker, with a 250 MW capacity, make up the acquired portfolio. Both projects are in Arizona’s La Paz County.

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<strong>Shell Energy receives rights to build BESS project in Australia</strong>

Shell Energy receives rights to build BESS project in Australia

January 12, 2023 |

Shell Energy has acquired the development rights to a 500 MW battery energy storage system (BESS) project in Australia. Under the terms of the agreement, Shell will be granted the right to build, own, and operate the Wallerawang 9 Battery project (FID). The former Wallerawang Power Station site near Lithgow, New South Wales (NSW), will be used for the project’s construction.

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<strong>H2PLT unveils to build green hydrogen mini-power stations in Spain</strong>

H2PLT unveils to build green hydrogen mini-power stations in Spain

January 12, 2023 |

H2PLT is a new company founded by Spanish entrepreneur Sisco Sapena with the goal of developing Spain’s first green hydrogen micro-generation network. H2PLT, which was established in February 2022 with an initial investment of $225,775, has only recently begun operations and now employs a workforce of six people.

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Masdar to build renewable project portfolio in Kyrgyzstan

Masdar to build renewable project portfolio in Kyrgyzstan

January 11, 2023 |

Masdar has signed an agreement with Kyrgyzstan’s Ministry of Energy to establish a 1 GW renewable energy project pipeline in the region. A 200 MW solar photovoltaic (PV) facility with the capacity will be the first project the company develops, and it will be online in 2026. The MoU that the two sides signed in April 2022 serves as the foundation for the deal. 

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