|

Powergrid InvIT announces H1 FY2024-25 results

By

Power Grid Corporation of India Limited (POWERGRID) has released the half-yearly report for its Infrastructure Investment Trust, POWERGRID Infrastructure Investment Trust (PGInvIT). PGInvIT recorded a consolidated income of Rs 6,557.15 million for H1 FY2024-25, reflecting strong revenue generation. Net distributable cash flows reached Rs 5,228.20 million, with total distributions of Rs 5,460 million to unitholders. The Trust also reported EBITDA of Rs 6,125.07 million and a margin of 93.41%. PGInvIT manages five transmission assets in…

Power Sector News Roundup for November 14, 2024

By

Global: NSW approves A$4.8bn Humelink transmission project Ramboll completes acquisition of K2 Management Capital Dynamics secures £48.5m funding for Scottish onshore wind projects Oklo signs LOIs with data centres to supply 750MW of low-carbon power Bureau Veritas acquires Versatec Energy to expand energy sector services Six nations join pledge to triple nuclear power by 2050 at COP29 rPlus Energies secures PPA with Idaho Power for 125MW Pleasant Valley Solar 2 project Orlen Group secures EIB…

|

Citicore partners with Trinasolar for solar module supply in Philippines

By

Citicore Renewable Energy Corporation (CREC) has entered into a contract with Trinasolar to procure 2 GW of Vertex N 720W solar modules.  Under the contract, Trinasolar will supply its Vertex N 720W Series solar modules for CREC’s rollout of 2 GW solar capacity, aligning with the Philippines government’s renewable energy programs, including the Green Energy Auction.  This partnership, which now totals 3 GW, supports CREC’s target of 5 GW of renewable energy capacity in five…

|

Masdar and KESH to explore renewable energy projects in Albania

By

Masdar and Albania’s Korporata Elektroenergjitike Shqiptare (KESH) have signed a term sheet agreement to jointly explore gigawatt-scale renewable energy projects in Albania.  This collaboration will focus on developing, constructing, and operating solar, wind, and hybrid energy projects, with potential integration of battery storage to enhance Albania’s clean energy infrastructure. The generated energy will serve both domestic demand and exports to neighboring countries. This agreement marks a further step in Masdar’s global renewable energy expansion, with…

|

EAAIF, FMO, and DEG invest €84 million in Senegal solar projects

By

The Emerging Africa & Asia Infrastructure Fund (EAAIF), the Dutch development bank FMO, and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) have collectively invested €84 million in two photovoltaic solar plants with battery storage systems in Senegal’s Kolda region.  These projects, operated by Axian Energy, will have a combined capacity of 60 MW with 72 MWh of battery storage to stabilize the grid and support evening peak demands. The total project cost exceeds €105 million, with…

|

Masdar and partners to develop 1GW wind farm with battery storage in Kazakhstan

By

Masdar has signed an investment agreement with W Solar, Qazaq Green Power, and the Kazakhstan Investment Development Fund to develop a 1 GW wind farm in Kazakhstan’s Jambyl region, marking Masdar’s first project in the country. The project includes a 600 MWh battery storage system to enhance grid stability. Construction of the wind facility is set to begin in Q1 2026, supporting Kazakhstan’s energy transition goals to reach 15% renewable capacity by 2030 and 50%…

|

NSW launches Renewable Energy Planning Framework

By

The New South Wales (NSW) government in Australia has introduced the Renewable Energy Planning Framework to streamline planning for renewable projects, ensuring investment stability and supporting regional economic growth.  Aligned with NSW’s Electricity Infrastructure Roadmap and emissions targets, the framework promotes transparent assessments of wind, transmission, and solar projects, emphasizing benefit-sharing with local communities. Key guidelines include setbacks for visual impact mitigation, hypothetical dwelling assessments, and direct benefits for regions, estimated to bring over A$400…

|

Ormat Technologies to build 101MW geothermal plant in New Zealand

By

Ormat Technologies has signed a $200 million engineering, procurement, and construction (EPC) contract with Contact Energy for the development of the 101 MW Te Mihi Stage 2 geothermal power plant in New Zealand.  Scheduled for completion by mid-2027, this project will contribute to New Zealand’s renewable energy goals by gradually replacing the 1950s-built Wairakei geothermal power station. Te Mihi Stage 2 marks Ormat’s fourth major project in New Zealand, leveraging its expertise in binary technology…

|

esVolta secures $110m tax equity investment for 300MWh energy storage facility

By

esVolta has obtained a $110 million tax equity investment from Greenprint Capital Management to fund its 300 MWh Hummingbird battery energy storage project in San Jose, California.  Set for completion in 2025, the project will provide Pacific Gas & Electric with resource adequacy capacity under a long-term contract and deliver fast-response energy and ancillary services to the California Independent System Operator (CAISO) market.  These services are essential for alleviating grid congestion and strengthening the power…

|

rPlus Energies secures PPA with Idaho Power for Pleasant Valley Solar 2 project

By

Renewable energy developer rPlus Energies has finalized a long-term power purchase agreement (PPA) with Idaho Power for its 125 MW Pleasant Valley Solar 2 facility in Ada County, Idaho.  This project follows the 200 MW Pleasant Valley Solar 1, also under construction, making Pleasant Valley Solar the largest contracted solar facility within the Idaho Power system.  Both projects will supply renewable energy to support Meta’s 100% clean energy goals for its data center in Kuna,…