The US Department of Energy’s (DOE) Loan Programs Office (LPO) announced a provisional agreement for a loan guarantee of up to $1.45 billion, aimed at supporting Qcells’ awaited solar supply chain manufacturing plant in Cartersville, Georgia. Once finalised, the Loan Programs Office would assist Qcells in the construction of a facility dedicated to manufacturing the entire solar supply chain.
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The Electricity Generating Authority of Thailand (EGAT) has launched a tender for a hydro-floating solar hybrid project to be developed at the Srinagarind Dam in Kanchanaburi province. The project will involve the design, supply, construction, and commissioning of an 182 MW floating solar power plant.
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Plenitude has announced the signing of a 10-year corporate power purchase agreement with Ferriera Valsabbia for the supply of energy produced 100 per cent from renewable sources. The agreement covers the full output of a 15 MW wind farm owned by Plenitude, located in Sannicandro di Bari, Apulia, Italy. The energy produced from the plant is expected to total more than 350 GWh over the entire period and is anticipated to contribute to meeting the energy needs of Ferriera Valsabbia’s facilities starting in September 2024.
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The UK’s energy system supplies its electricity, transport, heating and industrial needs. Energy policies focus on delivering three main objectives for the system: affordability, security of supply and sustainability. The role of electricity is expected to increase with the increasing adoption of technologies such as heat pumps for heating and electric vehicles in transport. The UK’s electricity mix has been changing over time, as the proportion of fossil fuels such as coal reduces, and the proportion of renewables increases.
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JGC Japan Corporation, an EPC operating company under JGC Holdings Corporation, and Sumitomo Corporation have announced an agreement to explore potential collaboration on the detailed design, manufacturing, and delivery of floating structural components for floating offshore wind power generation. The aim is to reduce costs, increase efficiency, and achieve mass production in the production and supply system by leveraging the strengths of both partners.
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Only 2.2% of the EU’s total land will be required by current and future solar and wind projects to achieve climate neutrality by 2040, phasing out both fossil and nuclear generation in the process. Under the JRC’s assessment criteria, most of the suitable land for renewables in the EU is located in rural areas, with 78% for ground-mounted solar photovoltaic systems and 83% for onshore wind. Realising a European interconnected supergrid will be essential to achieve 100% renewables, allowing solidarity and reducing energy waste.
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TotalEnergies has concluded its final investment decision for a 100 MW/200 MWh battery storage project in Dahlem, North Rhine-Westphalia. This is the first project approved by TotalEnergies from its recent acquisition of Kyon Energy, a german battery storage system developer, which was finalised in February 2024. Furthermore, the project has an investment exceeding €75 million.
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Masdar has successfully raised $1 billion through its second green bond issuance. This follows a previous successful bond issuance of $750 million on the London Stock Exchange’s International Securities Market in 2023. Proceeds will be used solely for investment in new greenfield renewable energy projects according to Masdar’s Green Finance Framework.
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To protect the economy and permanently lower bills, Great Britain needs to get off gas and rapidly build a low-cost, clean electricity system. This report “Cheap, Clean Electricity For Great Britain By 2030: A Framework To Lower Bills And Protect The Economy” by E3G sets out a framework for how this can be achieved, using the Labour Government’s 2030 clean power target as the guiding star. Great Britain must transition rapidly to a clean electricity system or else it will be forced to build more expensive gas power stations by default. This new system should be underpinned by wind and solar power and managed with flexible demand and storage. These technologies can all lower bills.
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Repsol and EDF Renewables have signed an exclusivity agreement to collaborate on future offshore wind tenders in Spain and Portugal. This strategic partnership aims to leverage the substantial growth opportunities available in the Iberian Peninsula’s offshore wind sector. The collaboration merges Repsol’s market expertise in Spain and Portugal with EDF Renewables’ advanced capabilities in both fixed and floating offshore wind.
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Encavis AG has acquired a Spanish solar park portfolio from BayWa r.e. The Almodóvar solar park is a 95 MW solar farm and is already under construction. It is located in Andalucía near the city of Córdoba and has an annual generation of 187 GWh. The solar park is being fitted with advanced monocrystalline PV modules on single-axis trackers.
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CWP Global has inked MoU with the Corner Brook Port Corporation (CPBC) to explore the potential for a green hydrogen hub in Canada. The Gwinya project aims to harness up to 5 GW of wind energy to produce green hydrogen and green iron, aligning with Newfoundland and Labrador’s economic and environmental goals.
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The potential for solar photovoltaic (PV) and offshore wind supply chain investments in Asia Pacific presents a $1.1 trillion opportunity to 2050, of which 75% would be spent on and remain within the countries undertaking these projects. Solar PV power projects represent the “here and now” opportunity to capitalise on the supply chain, with US$346 billion of potential localised inputs out of US$395 billion of investment through 2050.
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Germany’s highly effective approach to state tenders continues, with record participation in the country’s latest round of solar PV auctions. In the financial year 2023–24, India added approximately 26GW of new power capacity, more than 70% coming from renewables. Denmark’s largest ever offshore wind auction launched with a minimum of 6GW capacity awarded across six wind farms.
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Innergex Renewable Energy has signed a deal with Irradiant Partners to divest minority interests in its 826 MW renewable energy portfolio in Texas. Innergex plans to sell 49.9 per cent of its stakes in the Phoebe and Griffin Trail facilities, along with 22.2 per cent of its interest in the Foard City facility, to Irradiant.
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The New York State Department of Public Service (DPS) and the New York State Energy Research and Development Authority (NYSERDA) have unveiled a report titled ‘New York’s 6 GW Energy Storage Roadmap: Policy Options for Continued Growth in Energy Storage.’ Energy storage is expected to play a crucial role by integrating large quantities of variable renewable energy, reducing curtailment and storing renewable generation. This roadmap aims to bolster energy storage capacity in the state, targeting 6 GW by 2030. The strategy outlined in the roadmap emphasises market reforms, innovative procurement mechanisms, and accelerated technology development to meet the expanded storage target.
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Octopus Energy has purchased two solar farms in Ohio and Pennsylvania. The projects have a combined capacity of 100 MW. This is company’s first investment in US renewables market. Furthermore, the investment is part of the company’s plan to invest $2 billion in renewable energy projects by 2030. Reportedly, the company bought these assets from developer Vesper Energy Development.
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Vestas has secured an order for the 660 MW Nordseecluster A offshore wind project in Germany from RWE. The project is being built in two phases – Nordseecluster A and B. Vestas will supply 44 V236-15.0 MW wind turbines and will be responsible for the supply, delivery, and commissioning of the turbines for the first phase of the project.
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Plus Power has secured $133 million financing for the 150 MW / 300 MWh Cranberry Point facility in Carver, Massachusetts. It is a utility-scale standalone battery storage system in construction on the New England grid. The financing includes a construction-to-term loan, bridge loan, and letter of credit facility.
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Ørsted has completed the Helena Energy Center situated in Bee County, South Texas. It is a combined wind and solar project with a total capacity of 518 MW. The wind and solar centre is now fully operational and will produce enough renewable energy to power over 110,000 homes and businesses annually in Texas.
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