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DESRI, El Paso Electric begin construction on 130MW Carne solar, storage project in New Mexico

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DE Shaw Renewable Investments (DESRI), in partnership with El Paso Electric (EPE), has commenced construction on the 130MWac Carne solar and storage project in Deming, New Mexico. This marks DESRI’s second project in Luna County, following the 2017 launch of the Alta Luna solar facility. The Carne project will contribute to EPE’s goal of achieving an 80% clean energy portfolio by 2035 and reaching 100% by 2045. Under a 20-year power purchase agreement (PPA) with…

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South Africa halts nuclear procurement process over public consultation concerns

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South Africa’s nuclear procurement process has been paused after legal scrutiny revealed a lack of public consultation. The initial Ministerial Determination, passed in 2020, aimed to procure 2.5GW of new nuclear capacity. However, Energy and Electricity Minister Kgosientsho Ramokgopa has withdrawn the gazette to allow for public participation, delaying the process by three to six months. Ramokgopa emphasized the importance of transparency and public confidence, stating that the delay is necessary to ensure the integrity…

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BOEM grants Maine the first US floating offshore wind research lease for a 144 MW project

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The US Bureau of Ocean Energy Management (BOEM) has granted the State of Maine the nation’s first floating offshore wind energy research lease, covering 15.2 square miles located 28 nautical miles offshore on the US Outer Continental Shelf. This lease could enable the deployment of up to 12 floating offshore wind turbines, generating up to 144MW of renewable energy. The research array will facilitate in-depth studies on the viability of floating offshore wind in the…

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Jupiter Power launches 400 MWh battery storage facility in Houston

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Jupiter Power has commenced commercial operations for its 400 megawatt hours (MWh) Callisto I battery energy storage system (BESS) in Houston, Texas. This facility, strategically located near the Medical Center and Houston ship channel, is expected to enhance the city’s supply of reliable zero-emissions power. Built on the site of the former HL&P H O Clarke fossil fuel power plant, the Callisto I Energy Center has the potential to add another 400MW/800MWh of battery storage….

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Sumitomo acquires stake in EEW Offshore Wind Holding 

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Japan’s Sumitomo Corporation has acquired an equity stake in EEW Offshore Wind Holding, a move aimed at enhancing its monopile manufacturing capabilities for the offshore wind sector. This strategic partnership leverages Sumitomo’s expertise in the international steel market and EEW’s specialization in offshore wind energy infrastructure. Sumitomo’s General Manager of Steel Products SBU, Takuro Horikoshi, emphasized the alignment of this investment with the company’s commitment to green transformation and the global shift to renewable energy….

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Tongwei to acquire controlling stake in Runergy for approximately $698 million

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Chinese solar company Tongwei plans to acquire a controlling 51% stake in competitor Runergy for around 5 billion yuan ($697.78 million). This strategic move would allow Tongwei to expand its presence in the United States, where Runergy is building a 5 GW solar module plant in Huntsville, Alabama. The acquisition involves a combination of capital boost and share purchase. Runergy, which holds 57 GW of solar cells and 13 GW of module production capacity, is…

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CEEC secures $976 million EPC contract for 2,000 MW solar project in Saudi Arabia

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China Energy Engineering Corporation (CEEC) has signed a $976 million EPC contract to construct a 2,000 MW photovoltaic power plant in Saudi Arabia’s Makkah province. The project, known as the Haden solar PV IPP, is being developed by Buraiq Renewable Energy Company, a special purpose vehicle owned by Saudi’s Public Investment Fund (PIF), ACWA Power, and Saudi Aramco Power Company. The construction is expected to take 31 months and will be undertaken by a consortium…

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India to broaden sustainable finance framework, boosting ESG-labeled bonds

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India’s market regulator, the Securities and Exchange Board of India (SEBI), plans to expand its sustainable finance framework to include a wider range of ESG-labeled instruments, potentially enhancing the market for such products in Asia. SEBI is consulting on the introduction of social bonds, as well as sustainable and sustainability-linked bonds, to complement the existing suite of environmental, social, and governance (ESG) debt. The proposed changes also include incorporating eligible asset-backed securities and requiring independent…

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Torrent Power challenges approval of Sarda Energy’s bid for SKS Power Generation at NCLAT

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Torrent Power has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) against the approval of Sarda Energy and Mining’s (SEML) resolution plan for the debt-ridden SKS Power Generation. The appeal follows the Mumbai-based National Company Law Tribunal’s (NCLT) decision on August 13, which approved SEML’s bid and dismissed Torrent Power’s application to acquire SKS Power Generation in Chhattisgarh. Torrent Power objected to the selection process, arguing it was discriminatory and claiming that…

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South Africa seeks to strengthen energy trade ties with India, launches India-SA Chamber of Commerce

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South Africa’s Trade, Industry, and Competition Minister, Parks Tau, highlighted the country’s commitment to enhancing bilateral trade with India, particularly in the energy sector. Speaking at the launch of the India-SA Chamber of Commerce (ISACC), Tau emphasized the growth in trade between the two nations, which has increased from USD 8 billion to USD 13 billion over the past five years, with coal being a significant export to India. Tau stressed the need to diversify…