Power Sector News Roundup for January 8, 2025

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Global: CHN Energy connects PV-hydrogen-storage project to grid in China Hithium and Samsung C&T partner for global energy storage solutions Fox Squirrel Solar project reaches full operational status in Ohio Sunfire secures €200m financing to scale electrolysis technology UK to spend over £1.8 billion on grid management in 2025: Bloomberg BWXT Technologies to acquire Kinectrics for $525m to expand nuclear services Husk Power to raise $400m for expansion in India, Africa Trina Solar sets new…

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Trina Solar sets new world record for solar module efficiency

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Trina Solar has set a new world record for solar module efficiency, reaching 25.44% with its n-type, fully passivated HJT modules, certified by Fraunhofer CalLab, Reuters reported. Passivation technology improves solar cell performance by covering surface defects. Higher efficiency can reduce space and costs for solar installations. Professor Martin Green, a solar expert, noted that efficiency is essential for the future of solar technology, with costs typically decreasing as new technologies mature. Trina Solar’s CEO,…

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Husk Power to raise $400m for expansion in India, Africa

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Husk Power Systems plans to raise $400 million in debt and equity in 2025 to expand its mini-grid operations across India and Africa. This capital raise, a mix of equity and debt, precedes a planned initial public offering (IPO) in 2027. The company more than doubled its staff and revenue in 2024, while increasing its mini-grid operations from 200 to 400, according to Bloomberg. CEO Manoj Sinha stated the funds will support their 150% year-over-year…

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BWXT Technologies to acquire Kinectrics for $525m to expand nuclear services

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US-based BWXT Technologies has agreed to acquire Canadian nuclear services company Kinectrics for $525 million. The acquisition includes Kinectrics’ net pension and debt liabilities, along with estimated transaction expenses. This move aims to enhance BWXT’s commercial operations by broadening its offerings in the global nuclear power and radiopharmaceutical industries. Kinectrics will operate as a subsidiary of BWXT, with its financial results incorporated into BWXT’s commercial operations segment. The deal strengthens BWXT’s position in the growing…

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UK to spend over £1.8 billion on grid management in 2025: Bloomberg

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British consumers are expected to pay over £1.8 billion in 2025 to help manage the power grid, as maintenance and grid limitations restrict the movement of renewable electricity from Scotland to cities in England.  These costs, aimed at balancing supply and demand, challenge the UK government as it works to increase wind energy capacity while lowering electricity bills. Despite an increase in wind power, the grid’s limitations and the structure of the UK electricity market…

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Sunfire secures €200m financing to scale electrolysis technology

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German electrolysis manufacturer Sunfire has secured €200 million ($207.6 million) in guaranteed financing to advance its electrolysis technology. The financing is provided by a consortium led by Commerzbank, including Société Générale, BNP Paribas, LBBW, and Ostsächsische Sparkasse Dresden. The commitment reflects strong support from financial institutions and policymakers for the scale-up of climate technology. The financing will be used to secure customer advance payments and fulfil contract and warranty obligations. Sunfire’s CFO, Frank Posnanski, highlighted…

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Fox Squirrel Solar project reaches full operational status in Ohio

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The 577MW Fox Squirrel Solar project in Madison County, Ohio, has reached full operational status.  Developed by EDF Renewables and co-owned with Enbridge, the facility is one of the largest utility-scale solar developments east of the Mississippi River. The project features 1.4 million solar panels and 159 inverters. The energy produced is supplied to Amazon through power purchase agreements signed in May 2024, supporting Amazon’s Climate Pledge commitment.  All three phases of the project are…

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Hithium and Samsung C&T partner for global energy storage solutions

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Chinese energy storage provider Hithium has entered into a global partnership with Samsung C&T Engineering & Construction Group to capitalize on the increasing demand for energy storage solutions.  This collaboration is expected to encompass around ten gigawatt-hours (GWh) of battery energy storage system (BESS) capacity, strengthening their project pipeline. The agreement, formalized at Hithium’s headquarters in Xiamen, China, will combine Hithium’s energy storage expertise with Samsung C&T’s construction capabilities to offer comprehensive solutions.  The partnership…

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CHN Energy connects PV-hydrogen-storage project to grid

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CHN Energy’s Guohua Energy Investment Co., Ltd. has successfully connected its 400 MW Rudong Integrated Photovoltaic (PV)-hydrogen-storage project to the grid.  Located in Rudong County’s Yudong Reclamation Area, the project spans 287 hectares and integrates PV power generation, hydrogen production and refueling, and energy storage.  It includes a 220 kV booster station, a 60 MW/120 MWh energy storage facility, and a hydrogen production station with a capacity of 1,500 cubic meters per hour and 500…

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BHEL commissions two units of Punatsangchhu-II Hydro Project in Bhutan

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Bharat Heavy Electricals Ltd (BHEL) has commissioned two units of the 6×170-MW Punatsangchhu-II Hydroelectric Project (PHEP-II) in Bhutan.  The project, part of a bilateral agreement between the Government of India and the Royal Government of Bhutan, is located in the Wangdue district. The two units were synchronized on December 16 and 17, 2024, and are expected to generate 4,357 GWh annually upon full commissioning. BHEL’s scope includes the design, manufacture, supply, installation, and commissioning of…