Tag: wind energy

Offshore Wind in the Philippines: Report

Offshore Wind in the Philippines: Report

January 24, 2025 | , , ,

The Philippines is aiming to build a domestic offshore wind industry and has incorporated offshore wind into several policy and deployment initiatives. In parallel, the Philippines has also been a leader in incorporating renewable energy zones (REZs) into power sector development and transmission plans. The objective of this study, conducted by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in partnership with the Philippines Department of Energy, is to incorporate offshore wind resources into the Philippines’ already established competitive renewable energy zones (CREZs) to support national transmission planning.

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Key Energy Trends Shaping 2025: Brief

Key Energy Trends Shaping 2025: Brief

January 24, 2025 | ,

The return of Donald Trump to the U.S. presidency introduces further unpredictability, raising questions about the country’s participation in the Paris Agreement and its approach to global climate governance. Meanwhile, inflationary pressures and fragmented trade policies complicate coordinated international efforts to address these pressing issues. Amid this backdrop, clean energy transitions encounter formidable challenges, including entrenched reliance on fossil fuels and insufficient progress in key low-carbon technologies.

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European Electricity Review 2025: EMBER

European Electricity Review 2025: EMBER

January 24, 2025 | , , , ,

The report summarises that the transition of the EU electricity sector maintained momentum in 2024, despite challenging political and economic conditions. Solar power grew strongly and overtook coal power for the first time. Another year of coal and gas decline – the fifth year in a row for gas – cut EU power sector emissions to below half their 2007 peak and further reduced reliance on imported fossil fuels. Significant progress has been made over the last EU political cycle, but delivery needs to be accelerated. The European Green Deal has delivered a deep and rapid transformation of the EU power sector. 

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Masdar inks agreements to develop 1 GW renewable energy projects in Philippines

Masdar inks agreements to develop 1 GW renewable energy projects in Philippines

January 20, 2025 | , , ,

Masdar has inked an implementation agreement and a MoU with the Philippines government to develop 1 GW of clean energy projects to strengthen its growing portfolio in Southeast Asia. These agreements have been inked with the Department of Energy and the Board of Investments of the Republic of the Philippines respectively. These agreements will cover the development of solar, wind, and battery energy storage systems which will have a combined capacity of up to 1 GW by 2030.

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EU 2040 Climate Target: Building Blocks and Measures

EU 2040 Climate Target: Building Blocks and Measures

January 20, 2025 | , , ,

The European Climate Law (ECL) requires the EU to adopt a climate target for 2040. The European Commission recommends an EU climate target for 2040 of 90% reduction in net GHG emissions by 2040 (compared to 1990). Achieving emission reductions on this scale is indispensable if the EU is to stay on a realistic path towards climate neutrality by 2050 and net negative emissions thereafter. To achieve emission reductions on this scale, the EU must meet its 2030 climate target and scale up its current reduction efforts significantly. EU is projected to only reduce net emissions by 54% in 2040, and 62% if additional measures are implemented.

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The Energy Transition in 2025: What to Watch For

The Energy Transition in 2025: What to Watch For

January 20, 2025 |

As we enter a new year, the race between tipping points is clearer than ever. 2024 was likely the hottest year on record, raising the risk of earth system tipping points if we fail to speed up solutions. But despite warnings of a slowdown, solutions continue to race forward. As cleantech becomes cheaper than ever, 2024 saw record uptake in renewable energy, electric vehicles (EVs), and more. These positive tipping points are happening worldwide — with major progress in China and the Global South. With national climate plans due in February, it is time to include all sectors, pollutants, and solutions — and then hit the ground running.

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Analysis of UK’s Clean Power Mission: Report

Analysis of UK’s Clean Power Mission: Report

January 17, 2025 | , , , ,

This report concludes that the clean power mission offers the chance to revolutionise the UK economy, accelerating the transition to net zero while reforming power policies so the benefits of decarbonisation are felt in people’s pockets. Reaching clean power by 2030 can be achieved with electricity bills at a similar level to today and reduced exposure to gas prices under existing pricing policies. However, our Electricity Bills Charter aligns the path for decarbonising the power grid with significant reductions in bills, which could offer savings of over £200 a year by 2030.

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GE Vernova secures order for wind projects in Japan

GE Vernova secures order for wind projects in Japan

January 13, 2025 | , ,

GE Vernova’s Onshore Wind division has secured an order to supply 14 4.2 MW-117m turbines for the Iwaya and Shitsukari wind farms. These projects are being developed by Eurus near Higashidori in Aomori, Japan. The order was secured in the fourth quarter of 2024. These projects are anticipated to commence commercial operations by 2028. Furthermore, these wind farms will enable both companies to support Japan’s renewable energy goals.

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CIB invests $224.2 million in Port Hawkesbury Paper Wind project

CIB invests $224.2 million in Port Hawkesbury Paper Wind project

January 10, 2025 | , ,

The Canada Infrastructure Bank (CIB) has decided to provide $224.2 million as a loan to Port Hawkesbury Paper Wind Ltd for developing a large-scale wind energy project. Additionally, this funding will support 13 Mi’kmaw First Nations, through Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), in acquiring a 10 per cent stake in the project. Furthermore, Goose Harbour Lake Wind Farm will support Port Hawkesbury Paper’s energy requirements and Nova Scotia’s transition to clean power. 

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Developing Large Scale Renewables in Sub-Saharan Africa: Report

Developing Large Scale Renewables in Sub-Saharan Africa: Report

January 10, 2025 | , , , ,

The key objectives of this report are to: Explore current approaches to community participation in, benefits from, and ownership of large-scale wind and solar projects aiming for social justice and sustainability. Examine the potential for integrating improved practices into policy making, considering the specific contexts of various Sub-Saharan African countries. Deepen knowledge and understanding of stakeholder experiences in large-scale renewable energy projects. Explore and highlight reasons for failures to create enduring local benefits where possible. 

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Equinor reaches financial close for Empire Wind 1 project in US

Equinor reaches financial close for Empire Wind 1 project in US

January 7, 2025 | , ,

Equinor has reached the financial close of its US based Empire Wind 1 project. It has secured a project financing package that exceeds $3 billion. The company acquired the Empire Wind lease area in 2017. Earlier in June 2024, it executed a 25-year Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority for the Empire Wind 1 project at a strike price of USD $155.00/MWh.

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ACWA Power and HAU Energy reach financial close for 1.1 GW wind farm in Egypt

ACWA Power and HAU Energy reach financial close for 1.1 GW wind farm in Egypt

January 6, 2025 | , ,

ACWA Power and its partner HAU Energy (a subsidiary of Hassan Allam Utilities) have achieved financial close for the 1.1 GW Suez Wind Farm in Egypt. This project secured a     $ 703.6 million senior debt facility from a consortium of banks. These were namely the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AFDB), the British International Investment Corporation, and the Arab Petroleum Investments Corporation (APICORP).

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Ørsted divests 12.45 per cent stake in offshore wind portfolio to Brookfield

Ørsted divests 12.45 per cent stake in offshore wind portfolio to Brookfield

January 3, 2025 | , ,

Ørsted has inked a partnership agreement with Brookfield and its listed affiliate Brookfield Renewables that will acquire a 12.45 per cent minority stake in four of Ørsted’s operational offshore wind farms. These wind warms include Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension located in UK. These wind farms collectively have a capacity of approximately 3.5 GW. 

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Innergex inks EPA with BC Hydro for wind project in British Columbia

Innergex inks EPA with BC Hydro for wind project in British Columbia

January 2, 2025 | , ,

Innergex Renewable Energy has partnered with West Moberly First Nations and inked a 30-year electricity purchase agreement (EPA) with BC Hydro for the Stewart Creek wind project. The 200 MW community wind project is located approximately 60 km east of Innergex’s Dokie Wind Farm, in British Columbia. West Moberly First Nations holds a 51 per cent stake in the project, while Innergex owns 49 per cent. 

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Masdar grows solar and wind portfolio in Europe 

Masdar grows solar and wind portfolio in Europe 

December 31, 2024 | , , ,

Masdar has expanded its presence in Europe by completing two acquisitions in the Iberian Peninsula. The company along with its institutional partners has acquired Saeta Yield from Brookfield Renewable Partners for an enterprise value of €1.2 billion and an equity value of €696 million. Saeta’s portfolio includes 745 MW of wind assets out of which 538 MW are in Spain, 144 MW are in Portugal, and the rest 63 MW are solar PV assets located in Spain.

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EWEC gives approval for 4.6 GW of renewables projects in Abu Dhabi

EWEC gives approval for 4.6 GW of renewables projects in Abu Dhabi

December 30, 2024 | , , ,

EWEC (Emirates Water and Electricity Company) has announced approval for the allocation of four new sites for renewable energy projects in Abu Dhabi. These sites span approximately 75 square km and are designated for the development of advanced solar photovoltaic (PV) and wind energy facilities. Furthermore, these four sites will have three new solar photovoltaic (PV) plants in Al Faya, Al Khazna, and Al Zarraf, along with a wind farm in Sila.

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JERA-led consortium wins offshore wind project in Japan

JERA-led consortium wins offshore wind project in Japan

December 27, 2024 | , ,

JERA Co., Inc. (JERA), Green Power Investment Co., Ltd. (GPI), and Tohoku Electric Power Co., Inc. (Tohoku Electric) have collaborated to form a consortium led by JERA. The consortium has been selected to operate an offshore wind power project in the Sea of Japan, off the southern coast of Aomori Prefecture. They were selected as operators of the project by Japan’s Ministry of Economy, Trade, and Industry and the Ministry of Land, Infrastructure, Transport, and Tourism. 

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Atlantica acquires 1.1 GW solar and wind projects in US

Atlantica acquires 1.1 GW solar and wind projects in US

December 23, 2024 | , ,

Atlantica Sustainable Infrastructure has completed the acquisition of a development platform in US. The platform includes around 1.1 GW of solar and wind projects under development in the MISO and SPP regions. It also includes projects in Illinois, Colorado, Mississippi, and Texas. Furthermore, with this addition, Atlantica’s development portfolio in the US now comprises approximately 2 GW of solar and wind projects and 8.5 GWh of storage capacity.

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AMEA Power commissions 500 MW Abydos solar plant in Egypt

AMEA Power commissions 500 MW Abydos solar plant in Egypt

December 20, 2024 | , ,

AMEA Power has commissioned the 500 MW Abydos Solar PV Plant in Egypt, located in the Aswan Governorate. The plant will generate approximately 1,500 GWh of renewable energy annually, offsetting 782,300 tonnes of carbon emissions. This project was completed in 18 months. The Abydos Solar PV Plant was financed by the International Finance Corporation (IFC), the Dutch Entrepreneurial Development Bank (FMO), and the Japan International Cooperation Agency (JICA).

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Role of BESS in Achieving 82% Renewables in Australia by 2030

Role of BESS in Achieving 82% Renewables in Australia by 2030

December 19, 2024 | , ,

This extract is from a recent report by Climate Energy Finance. The report highlights the rapid progress in Australia’s electricity sector transition, emphasising that the nation is on track to achieve its ambitious target of 82% renewable energy by 2030. It underscores the pivotal role of sustained investment, strong policy support, and streamlined planning, evaluation, and approval processes. In particular, it highlights the growing importance of Battery Energy Storage Systems (BESS) in ensuring grid stability and supporting the integration of renewable energy into the electricity network.

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