Power Sector News Roundup for December 19, 2024

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Global: Hydro One to develop key transmission line in northern Ontario Montenegro prioritizes EUR 1.38 billion energy projects for EU accession CFS plans world’s first commercial fusion power plant in Virginia US DoE offers $15 billion loan commitment to PG&E ABB to acquire Gamesa Electric’s power electronics business in Spain Vietnam and Singapore to collaborate for electricity export Alternus Clean Energy acquires LiiON for $5 million KEPCO completes ±150 kV HVDC project connecting Wando and…

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Afreximbank funds hydropower project in DRC

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Afreximbank has signed a financing agreement for a 200 MW hydropower project along the Lufira River in the Democratic Republic of Congo (DRC), in partnership with Kipay Investments. This marks the bank’s first private-sector renewable energy project in the DRC. The project includes the development of a reservoir-based hydropower plant aimed at providing clean, affordable power to mining companies, supporting copper and cobalt beneficiation, and enhancing electricity access for nearby communities. It aligns with DRC’s…

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Envision Energy secures record wind contract in the Philippines

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Envision Energy has signed a 344.5MW wind turbine supply agreement for the Quezon North Wind project, making it the Philippines’ largest single wind power contract.  ACEN, the Ayala Group’s renewable energy platform, awarded it. The Quezon North Wind project will be the largest onshore wind initiative in the Philippines. It marks the second collaboration between Envision and ACEN, following the 600MW Monsoon Wind project in Lao PDR, which is Southeast Asia’s first cross-border wind power…

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Ørsted sells 50% stake in US solar and battery projects

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Ørsted has divested a 50% equity stake in three US solar and battery projects to Energy Capital Partners (ECP) for $572m. The projects include Mockingbird Solar (468MW) and Sparta Solar (250MW) in Texas, as well as the Eleven Mile Solar Center in Arizona, which combines 300MW of solar power with 300MW/1,200MWh battery storage. Details of the transactionThe projects, all of which have secured tax equity partnerships and power purchase agreements, are scheduled to begin operations…

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Qcells achieves 28.6% efficiency in tandem solar cells

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Energy solutions provider Qcells has achieved a world record of 28.6% efficiency in tandem solar cells on a full-area M10-sized cell (~0.36ft²) through its research and development (R&D) pilot line in Germany.  The milestone, verified by CalLab at the Fraunhofer Institute for Solar Energy Systems, advances perovskite-silicon tandem technology toward scalable solar solutions. The innovation focuses on mass manufacturing using commercially viable processes, moving beyond laboratory-scale concepts.  Qcells’ tandem cells stack a perovskite top cell…

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Prysmian secures submarine cable projects in France

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Prysmian, a leading manufacturer of energy and telecom cables, has entered into a framework agreement with Réseau de Transport d’Électricité (RTE), France’s transmission system operator, to provide submarine power cable links for two offshore wind farms—the Fos and Narbonnaise projects.  These links will connect the offshore farms to the French national grid. The agreement includes engineering, procurement, construction, installation, and commissioning (EPCI) of both submarine and land cable segments.  The projects are expected to be…

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Westinghouse Electric and Aecon partner to advance nuclear energy projects

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Westinghouse Electric Company and Aecon have signed two agreements to jointly develop and deploy advanced nuclear power projects, including the construction of AP1000 reactors in Canada. The collaboration is projected to generate up to C$28.7 billion ($20.1 billion) in GDP from a four-unit AP1000 project in Canada. Under a strategic cooperation agreement, the companies aim to target Canadian markets and expand the supply of critical components for advanced nuclear reactors globally. Aecon will leverage its…

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Sheringham Shoal and Dudgeon offshore wind farm extension projects to be developed jointly

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The Sheringham Shoal and Dudgeon offshore wind farm extension projects in Norfolk, UK, will be developed under a joint ownership structure, subject to regulatory approval. This will streamline the development process by combining the two projects into a single legal entity. Development consent for both projects was granted in April 2024 under a unified application, allowing for joint or sequential development approaches. The new ownership structure facilitates cost-effective development, reduces environmental impacts in Norfolk, and…

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Canada extends net zero electricity grid target to 2050

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Canada has revised its target for achieving a net-zero electricity grid, extending the deadline from 2035 to 2050. This decision follows the release of the finalised Clean Electricity Regulations (CER), which were influenced by feedback from provinces and energy industry stakeholders concerned about reliability, cost, and potential stranded assets. Currently, 85% of Canada’s electricity comes from clean sources, including hydropower, wind, and solar. However, the revised regulations may complicate the country’s efforts to meet its…

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Nexamp and Walmart partner to develop 31 community solar projects across US

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Nexamp has announced a partnership with Walmart to develop 31 community solar projects across the United States, expected to generate over 120 MW (DC) of renewable energy.  This collaboration is their second, following a previous joint effort in 2021 for community solar projects in New York. The new solar farms, located in Maine, Massachusetts, New York, Illinois, and Minnesota, aim to provide affordable renewable energy to local businesses and residential subscribers.  The projects are expected…