Power Sector News Roundup for January 3, 2025

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Global: ACWA Power secures financing for 1.1GW Suez wind farm in Egypt Constellation awarded over $1bn in contracts by US GSA Equinor secures $3bn financing for Empire Wind 1 offshore project US NRC approves licence extension for Xcel Energy’s Monticello nuclear plant Welsh Government grants £10m to 32 local green energy projects ContourGlobal acquires hybrid solar plus storage project in US India and Pakistan exchange nuclear installation lists Zhangzhou Nuclear Plant Unit 1 begins commercial…

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Northleaf Capital exits Mula solar plant in Spain

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Northleaf Capital Partners has sold its majority stake in the 494 megawatts peak (MWp) Mula photovoltaic solar plant in Murcia, Spain, to China Three Gorges Spain, a subsidiary of the China Three Gorges Corporation.  The deal, executed with minority partner Qualitas Energy, includes the sale of a 100% equity interest and is part of Northleaf’s value creation plan, yielding significant cash returns to investors. Mula Solar, one of Europe’s largest operational solar plants, has a…

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TRIG partners with Qair France to power Hyd’Occ hydrogen plant

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The Renewables Infrastructure Group (TRIG) has secured a power purchase agreement (PPA) with Qair France and partners to supply renewable electricity to the Hyd’Occ hydrogen production facility in Port-la Nouvelle, Aude, France.  Electricity will be sourced from TRIG’s two onshore wind farms in the Occitanie region, supporting sustainable energy initiatives in the area. The Hyd’Occ facility, developed by Qair’s subsidiary, Hyd’Occ project company, involves a €60m ($65.4m) investment and is set to launch in 2025….

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Vestas secures 134 MW wind turbine orders in Europe

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Vestas has announced new contracts totalling 134MW for wind turbine projects in Europe as part of its Q4 2024 order intake. In Italy, Vestas received a 26MW order from Alerion San Marco for the Valico Casone Cocca project. It will feature three V150-6.0 MW and two V117-4.2 MW turbines, with a ten-year Active Output Management (AOM) 4000 service agreement. Delivery is planned for Q4 2025, with commissioning in Q1 2026. In Spain, an undisclosed customer…

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Eskom reconnects Koeberg Unit 2 to South Africa’s grid

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Eskom has reconnected Unit 2 of the Koeberg nuclear power station to South Africa’s national grid, adding 930MW to the country’s power supply. This move supports Eskom’s Generation Operational Recovery Plan to increase capacity by 2.5GW by March 2025. Unit 2 underwent an extensive long-term operation (LTO) programme, extending its operational life by 20 years. The maintenance included replacing steam generators, conducting inspections, and refuelling. This follows the successful LTO of Unit 1 in 2023,…

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Aypa Power secures $190m for Texas battery storage project

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Aypa Power, a Blackstone portfolio company, has obtained $190m in financing for its Bypass battery energy storage system (BESS) project in Fort Bend County, Texas. The 200MW/400MWh facility will address the region’s growing energy storage needs. The financing includes a $68m construction-to-term loan, a $91m tax equity bridge loan, and $31m in letters of credit, with $26m allocated for project-specific requirements. Morgan Stanley Renewables committed $94m in tax equity financing through a hybrid partnership flip…

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Zhangzhou Nuclear Plant Unit 1 begins commercial operations in China

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China National Nuclear Corporation (CNNC) has launched commercial operations of Unit 1 at the Zhangzhou nuclear power project in Fujian Province, contributing to China’s energy diversification and carbon neutrality goals. The 1.12GW Unit 1, connected to the grid in November 2024, adheres to advanced technical and safety standards. Managed by China National Nuclear Power, a CNNC subsidiary, the project uses the Hualong One reactor, a domestically developed third-generation pressurised water reactor technology. Hualong One can…

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India and Pakistan exchange nuclear installation lists

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India and Pakistan have exchanged lists of their nuclear installations under a 1988 bilateral pact prohibiting attacks on each other’s atomic facilities.  The exchange, facilitated through diplomatic channels in New Delhi and Islamabad, follows the provisions of the Agreement on the Prohibition of Attacks Against Nuclear Installations and Facilities. This marks the 34th annual exchange since the agreement’s implementation in 1991, with the first exchange occurring on January 1, 1992. Despite ongoing tensions over issues…

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ContourGlobal acquires hybrid solar plus storage project in US

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ContourGlobal has acquired a solar plus storage project in the US with a total hybrid capacity of 888 MW. The project, in its advanced stage, will be developed in two phases, combining 567 MWp of solar photovoltaic (PV) and 321 MW/1.3 GWh of battery energy storage (BESS). Connected to Arizona’s WAPA grid, the project secures firm transmission rights to deliver power to the California Independent System Operator (CAISO). Equipped with long-duration batteries offering 4-hour storage,…

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Welsh Government grants £10m to 32 local green energy projects

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The Welsh Government has awarded £10m in grants to 32 local green energy projects as part of the Ynni Cymru (Energy Wales) scheme. The funding supports community-owned renewable energy and smart local energy systems (SLES), which integrate various energy assets to enhance efficiency. The selected projects include solar panels, battery storage, heat pumps, and electric vehicle charging points. The funding aims to promote smarter energy usage across schools, leisure centres, care homes, business parks, and…