Hero Future Energies Private Limited (HFEPL) has inked a Memorandum of Understanding (MoU) with the Government of Karnataka in India to invest Rs 110 billion in renewable energy and green hydrogen. The investment will be utilised in establishing Renewable Energy, Green Hydrogen, and its derivatives projects in Karnataka for two to three years.
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Vestas has secured a 900 MW order from RWE for the Nordseecluster B offshore wind project in Germany. The order includes 60 V236-15.0 MW wind turbines. Vestas will manage supply, delivery, commissioning, and servicing under a five-year agreement followed by long-term operational support agreement.
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GWEC estimates that annual wind installation must increase three-fold this decade to meet net zero benchmarks, and this could be driven by the APAC region which already holds more than half (51 per cent) of the world’s total wind power installations by the end of 2023 and is expected to make up 61 per cent of new additions worldwide between 2024 and 2030. Although most new wind installation will be driven by China and India, the rest of APAC may want to consider following suit to meet national wind targets and provide the supply chain with the confidence needed to build capacity and fill the foreseen bottlenecks currently expected to slow the industry.
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Latin America and the Caribbean (LAC) countries face severe climate impacts, including droughts, heat waves and rainfall variability, which affect key sectors like agriculture, mining, and tourism. Economic impacts are significant, with potential GDP losses between 0.8% and 6.3% by 2030, reaching up to 23% by 2050. Current climate finance flows to LAC are only 0.5% of GDP, requiring an 8-10x increase to meet commitments outlined in Nationally Determined Contributions (NDCs). Brazil, Mexico, Costa Rica, and Colombia received nearly half of the climate finance directed to the region, focused on mitigation over adaptation.
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Solar Means Business tracks U.S. solar photovoltaic (PV) installations that support commercial activities at U.S. facilities. The report focuses on America’s largest companies but includes available data for companies of all sizes. Systems can be located on-site and provide electricity to the facility directly, or off-site and offset grid electricity costs for a company through Virtual Net Metering, Physical and Virtual Power Purchase Agreements (PPA), Green Tariffs or similar arrangements.
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This Policy Review aims to provide practical, timely advice to Sweden as it advances its energy and climate strategy. The report also highlights areas where Sweden’s leadership can serve as an example in promoting secure clean energy transitions. It also promotes the exchange of best practices among countries to foster learning, build consensus and strengthen political will for a sustainable and affordable clean energy future.
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Stegra and Uniper have entered into a long term power purchase agreement (PPA). Under the agreement, Uniper will supply 6 TWh of electricity to Stegra’s Northern Sweden facility annually from 2027 to 2032. Stegra’s Boden plant will produce green hydrogen, green iron, and green steel at scale, with an initial annual output of 2.5 million tonnes of green steel.
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Egypt’s General Authority for Investment and Free Zones (GAFI) has partnered with Polish company Hynfra to develop a green ammonia production facility with an initial investment of $1.6 billion. The first phase of the plant will be powered entirely by renewable energy, such as solar and wind. Surplus electricity will contribute to Egypt’s national grid, while the facility will export its output to the European Union under long-term agreements.
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Sembcorp Industries, through its wholly owned subsidiary Sembcorp Green Infra Private Limited, has won a 300 MW inter-state transmission system (ISTS) – connected wind-solar hybrid power project from NTPC Limited. This project is part of NTPC’s 1.2 GW renewable energy bid and will be developed under a build-own-operate model.
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ACCIONA has announced plans to construct a 225 MW photovoltaic (PV) plant for Kallpa Generación in La Joya, Arequipa, Peru, covering 549 hectares. The plant will feature 371,040 bifacial solar panels with advanced technology, and the solar farm is expected to generate 611 GWh of electricity annually.
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Synera Renewable Energy Group (SRE Group), has announced a joint venture (JV) with Moondo Wind Energy (MWE) to develop an 840 MW offshore wind farm in South Korea. The project, named Moondo Offshore Wind Energy (MOWE), will be located near Geomundo Island, Yeosu City, in Jeollanam-do Province, at the southwestern tip of the Korean Peninsula.
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TotalEnergies has partnered with Air Liquide to produce renewable hydrogen at its La Mède biorefinery in southeast France as part of its plan to decarbonise hydrogen used in its European refineries by 2030. The renewable hydrogen will be used at the biorefinery to produce biodiesel and sustainable aviation fuel (SAF). The production is expected to begin in 2028.
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This UNEP Copenhagen Climate Centre webinar presents the findings of the 2024 Climate Technology Progress Report. It focuses on the current state of renewable energy adoption in selected areas, as well as the feasibility and necessary enabling conditions for technology development and transfer at the sectoral and regional levels, all in the context of strengthening NDC ambitions.
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RWE has acquired a majority stake in R3 Renewables. R3 Renewables is a joint venture (JV) by Peabody Energy, Summit Partners Credit Advisors, and Riverstone Credit Partners. The JV founding partners commenced the development of a 5.5 GW pipeline of solar and battery storage projects on reclaimed mine lands in Indiana and Illinois. RWE will be acquiring Summit and Riverstone’s stake in R3.
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Azerbaijan’s Ministry of Energy has successfully completed its first renewable energy auction, awarding a 100 MW solar power project to Universal International Holdings. The Chinese company secured the contract with a competitive bid of $0.0354 per kWh and will be responsible for designing, financing, building, and operating the solar plant in the Garadagh region, located near Azerbaijan’s Caspian Sea coastline. The facility is expected to begin operations in 2027.
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ABO Energy has sold the rights of two battery energy storage systems (BESS) in South Africa to French Électricité de France (EDF) after developing them into ready-to-build status. EDF was awarded preferred bidder status for both projects on November 30, 2023 in the first bid window of the Battery Energy Storage Independent Power Producer Procurement Programme.
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National Grid Renewables has finalised a power purchase agreement (PPA) with the Illinois Municipal Electric Agency (IMEA) for the 150 MW Bee Hollow solar project, located in St. Clair County, Illinois. Construction is expected to begin in 2025, with Bee Hollow expanding the company’s operational solar portfolio in Illinois to 350 MW, including the previously announced Prairie Wolf solar project in Coles County.
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Amazon has signed power purchase agreements (PPAs) with Aer Soléir to develop three utility-scale wind farms: Vermio North, Vermio South, and the Mesokorfi and Koukouras projects in the Peloponnese region. The €496 million project, financed by the National Bank of Greece and the European Union’s Recovery and Resilience Facility, also aims to provide local economic benefits through job creation, community investments, and biodiversity programs.
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The primary challenge to the widespread uptake of low-emissions hydrogen in the US continues to be reducing the cost gap between that hydrogen and its fossil fuel–based equivalent without resorting to stringent measures that force end-users to switch to lower-carbon solutions. The US government has initially supported hydrogen supply mainly through generous PTCs (up to $3/kilogram) that are structured to incentivize lower carbon intensity hydrogen. This post introduces measures drawn from the hydrogen sector and beyond in other countries that could be used to address this issue, whether at the federal or state level or by the private sector.
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This study analyses the current electricity mix, untapped renewable energy potential and energy transition commitments across Central Asia and the Caucasus. It highlights the role of green energy corridors in strengthening regional connectivity and enabling cost-effective expansion of renewables. Central Asia and the Caucasus represent a diverse region with vast potential for green energy corridors to enable large-scale renewable energy development. With the spotlight turning to Azerbaijan and its surrounding region as COP29 gets underway, one of the focuses would be ‘green energy corridors’, using interconnection and regional collaboration to enable renewables growth.
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