Wärtsilä, a technology firm, will deliver a 5.2 MW energy storage system to provide frequency management in the ancillary service market for the Taiwanese grid as Taiwan strives to attain 20 per cent renewable energy by 2025. Shangfa Construction received the order in August 2021 and will construct the energy storage facility on behalf of North-Star International Co., Ltd.
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Globeleq, a South African independent power producer, has completed the senior debt refinancing of three of its renewable energy plants, totaling 238 MW. Absa Bank, part of the financial services company Absa Group Ltd, served as the required lead arranger and sole underwriter for the $362 million debt financing package.
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According to research undertaken by Facts & Factors, the worldwide market size and share of clean energy technologies is anticipated to reach USD 423.7 billion by 2026, up from USD 283.9 billion in 2020, with a compound yearly growth rate (CAGR) of 6.9 per cent between 2021 and 2026.
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JSC Georgian Energy Development Fund (GEDF), which is controlled by Georgia’s Ministry of Economy and Sustainable Development, has issued a tender for the building of a 5 MW solar power plant in the municipality of Sagarejo in the country’s Kakheti region.
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The latest data on renewable energy investment in the first half of the year, drawn from BNEF’s database of deals and projects, show that a decline in investment in new renewables projects was offset by a jump in equity offerings of renewable energy companies. New equity raised on public markets hit a record high at $28.2 billion in 1H 2021, as did venture capital and private equity commitments to renewable energy companies at $5.7 billion.
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DTE Energy has announced that ZF North America has joined DTE’s MIGreenPower initiative. MIGreenPower is an optional renewable energy programme that allows DTE Electric customers to attribute a higher per cent of their electricity use to DTE’s wind and solar projects than the 15 per cent already included in their energy mix.
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DEEP Earth Energy Production Corp. (DEEP), a Canadian geothermal company, has secured Canadian dollar 4.5 million private placement offer. This equates to around USD 3.6 million. The company received subscriptions for 4,948,100 units of the company at CAD$ 0.85 per unit, for a total of CAD$ 4,205,885 in proceeds to the corporation.
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53 hydrogen projects have been publicly announced in China, of which 50% are linked to transport applications. Key announced projects include Sinopec’s ambition to build 1,000 refueling stations in the next 5 years, and the commissioning of a 200 MW PV-connected hydrogen plant in the Ningxia region. The total estimated investment amounts to USD 180 billion.
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Eni, an Italian energy firm, has agreed to buy a 1.2 GW renewable energy portfolio in Spain from Azora, an independent real asset management company. Azora’s portfolio includes three operational wind farms, one under construction wind farm (for a total of 230 MW), and five major solar power projects in advanced phases of development totaling 1 GW.
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Solar Energy Corporation of India Limited (SECI) has launched bids for the development of 1.2 GW of solar projects in the Indian state of Karnataka on a build-own-operate basis. The request for selection is part of the interstate transmission system (ISTS) (tranche X) tariff-based competitive bidding cycle.
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Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, announced today the final close of the Stonepeak Global Renewables Fund (GRF), a $2.75 billion fund focused on investing in a diverse portfolio of renewable energy assets in developed markets around the world.
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Fortum has decided to divest 500 MW of solar projects in India and has signed an agreement with the global infrastructure investment firm Actis for the same. As part of the agreement, Actis will receive ownership of the 250 MW Pavagada II and the 250 MW Rajasthan solar power plants.
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Round-the-clock (RTC) renewable electricity will soon become competitive with fossil fuel-based power. This is expected to happen across all geographies between 2022 and 2030. However, going forward, this must become the default strategy or priority as far as energy supply is concerned – whether for political decision-making or, more importantly, financial decision-making.
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Globeleq along with project partners Source Energia and Electricidade de Moçambique (EDM) have started the construction of the 19 MWp (15 MWac) Cuamba Solar PV plant which will also have a 2 MW (7 MWh) energy storage system. The project is located in the Tetereane District of the city of Cuamba, Niassa province, about 550 kms west of the coastal town Nacala.
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Swedish furniture company IKEA has recently announced a program to secure 100 per cent renewable electricity at direct suppliers in India, China, and Poland, which are some of its largest purchasing countries. The said program will be introduced in 2021, followed by a stepwise global roll-out. As more than 65 per cent of the company’s climate footprint is linked to its supply chain, it is aiming for 100 per cent renewable energy throughout its entire value chain.
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Ørsted has recently notified the company’s new strategic ambition and financial guidance. It has set a target to reach approximately 50 GW of installed capacity by 2030 and plans to invest approximately DKK 350 billion in green energy from 2020 to 2027.
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BHE Renewables announced it has completed the acquisition of the 54 MW Independence wind energy project from RPM Access LLC. Located near Ryan, Iowa, the project consists 18 GE 2.8 MW wind turbines and two GE 2.3 MW wind turbines and will be completed in the fourth quarter 2021. The project will serve Central Iowa Power Cooperative under a 20-year power purchase agreement.
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EDP has announced an investment of Euro 470 million in renewable projects in the province of Asturias, Spain where it will build Spain’s first floating wind farm and reconvert the Aboño and Soto de Ribera plants.
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BayWa r.e. has announced that its 106 MW solar farm in Australia has been successfully connected to the grid. The construction of the 630-acre Yatpool solar farm in North Victoria was completed in late 2019. With 350,000 solar PV panels, the site is capable of generating enough renewable electricity to power around 40,000 homes.
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Array Technologies, one of the world’s largest manufacturers of ground-mounted tracking systems used in solar energy projects, has been awarded a contract for up to 4 GW of trackers from Primoris Services Corporation, a leading provider of specialty contracting services.
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