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CIP acquires majority stake in Toqlukuti’k Wind & Hydrogen project

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Copenhagen Infrastructure Partners (CIP), through its Energy Transition Fund (CI ETF I), has acquired a majority stake in the Toqlukuti’k Wind & Hydrogen project, a large-scale onshore wind and hydrogen initiative in Newfoundland & Labrador, Canada.  The stake was purchased from Germany-based ABO Energy, which remains a minority shareholder and co-developer. The project aims to produce green hydrogen and ammonia, leveraging Newfoundland’s wind resources, existing infrastructure, and provincial support.  CIP has been expanding its portfolio…

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KEPCO completes ±150 kV HVDC project connecting Wando and Jeju

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Korea Electric Power Corporation (KEPCO) has completed the ±150 kV Wando–Dongjeju high voltage direct current (HVDC) project, enhancing the power supply to Jeju Island. The project, with a capacity of 200 MW, includes a 98-km undersea cable that increases the power transfer from the mainland to Jeju from 360 MW to 600 MW, raising the supply reserve ratio from 14.3 per cent to 30.8 per cent. The submarine cable was installed in December 2023, and…

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Alternus Clean Energy acquires LiiON for $5 million

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Alternus Clean Energy has finalized the acquisition of LiiON, LLC through an asset purchase agreement executed by one of its US subsidiaries. The $5 million deal combines debt and equity, granting Alternus LiiON’s customer contracts, service agreements, and partnerships. As part of the agreement, LiiON will provide an exclusive license to its intellectual property. The total consideration includes a $2 million non-convertible loan note, payable over three years, and 250,000 shares of common stock valued…

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Vietnam and Singapore to collaborate for electricity export

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Vietnam and Singapore are set to collaborate on an offshore wind (OSW) power project that will export electricity from Vietnam to Singapore starting in 2030. The announcement was made during a meeting between Vietnam’s Minister of Natural Resources and Environment and Singapore’s Minister for Manpower, as well as the Second Minister for Trade and Industry.  In February 2023, Petrovietnam Technical Services Corporation (PTSC) and Singapore’s Sembcorp Utilities signed an agreement for a 2.3 GW OSW…

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ABB to acquire Gamesa Electric’s power electronics business in Spain

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ABB has signed an agreement to acquire the power electronics business of Gamesa Electric in Spain from Siemens Gamesa.  This acquisition will strengthen ABB’s position in the growing market for high-powered renewable power conversion technology. The acquired portfolio includes Doubly-fed induction generator (DFIG) wind converters, industrial battery energy storage systems (BESS), and utility-scale solar power inverters.  The transaction will add over 100 specialized engineers and two Spanish converter factories in Madrid and Valencia to ABB’s…

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US DoE offers $15 billion loan commitment to PG&E

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The US Department of Energy (DoE) has provided a conditional commitment for a $15 billion loan to California-based electric utility PG&E.  If finalized by the DoE’s Loan Programs Office (LPO), the loan will support multiple energy projects in California and strengthen the state’s energy infrastructure, helping achieve both federal and state climate goals. The upgrades will include advanced sensors, telemetry, and controls to support two-way power flow, enhancing grid resilience during extreme weather events like…

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CFS plans world’s first commercial fusion power plant in Virginia

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Commonwealth Fusion Systems (CFS) has unveiled plans to build the world’s first grid-scale commercial fusion power plant, ARC, at the James River Industrial Park in Chesterfield County, Virginia.  The site, owned by Dominion Energy Virginia, was chosen after a global search for the location of the first commercial fusion plant. CFS has entered into a non-financial collaboration with Dominion Energy Virginia, which includes development support, technical expertise, and leasing rights for the site.  Dominion Energy…

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Montenegro prioritizes EUR 1.38 billion energy projects for EU accession

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The Government of Montenegro has approved a list of 15 priority energy infrastructure projects worth EUR 1.38 billion. This fulfils chapter 21 – Trans-European Network – of the EU accession negotiations. The European Commission will use this list to select projects for funding under the Western Balkans Investment Framework (WBIF). Updated per WBIF methodology, the projects align with Montenegro’s state-level priorities. WBIF, the EU’s main financial mechanism for the region, will support selected projects from…

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Hydro One to develop key transmission line in northern Ontario

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Hydro One, in partnership with First Nations, will develop a critical 260km transmission line in northern Ontario, connecting the Wawa transformer station to the Porcupine station in Timmins. The Ontario Energy Board has been directed to amend Hydro One’s transmission license, allowing the project to proceed. The line will address rising electricity demand driven by electrification, population growth, advanced manufacturing, and critical minerals mining. It will initially operate at 230kV and be energized to 500kV…

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Inox Wind wins 60 MW wind turbine supply contract in Karnataka

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Inox Wind Limited has secured a contract from Serentica Renewables India Private Limited (SRIPL) to supply 3 MW-class Wind Turbine Generators (WTGs) for a 60 MW wind power project.  The project is part of a wind-solar hybrid development in Karnataka. Awarded on December 18, 2024, the contract includes equipment supply and multi-year Operations and Maintenance (O&M) services post-commissioning. The WTGs are scheduled for delivery by June 2025.