Power Sector News Roundup for January 15, 2025

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Global: DOE closes loan guarantee for Montana Renewables’ biofuels expansion KKR and PSP Investments acquire stake in AEP’s transmission assets ENGIE expands Ras Ghareb wind farm in Egypt to 650 MW Innergex starts commercial operation of Boswell Springs wind farm EDF Renewables begins commercial operations at Huck Finn solar project Statera Energy acquires 680 MW BESS project in UK USD 2 billion Thai Binh LNG power plant to begin construction in 2025 India: Hinduja Renewables…

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USD 2 billion Thai Binh LNG power plant to begin construction in 2025

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The USD 2 billion Thai Binh LNG power plant project in northern Vietnam will begin construction in late 2025 after completing its feasibility study by mid-year.  Led by Thai Binh LNG Power JSC, a joint venture of Japan’s Tokyo Gas, Kyuden International, and Vietnam’s Truong Thanh Vietnam Group, the plant aims to generate 10 billion kWh annually and contribute USD 162.57 million in taxes. The project is currently progressing with site clearance and plans to…

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Statera Energy acquires 680 MW BESS project in UK

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Statera Energy has acquired a 680 MW battery energy storage system (BESS) project at Trafford Low Carbon Energy Park in Greater Manchester, known as Carrington Storage.  The project is expected to be fully energised by 2026 and will be more than twice the size of Statera’s upcoming 300 MW Thurrock Storage project. Carrington Storage will represent nearly a quarter of the UK’s operational BESS fleet capacity and is designed to integrate with long-duration energy storage…

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EDF Renewables begins commercial operations at Huck Finn solar project

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EDF Renewables North America commenced commercial operations at the Huck Finn solar project in December 2024.  Developed for Ameren Missouri, a subsidiary of Ameren Corporation, the project has a 200 MWac / 270 MWdc capacity and is now delivering electricity. The project is expected to generate over $14 million in revenue for local communities in Audrain and Ralls Counties and meet the energy needs of over 37,000 homes at full capacity. It will also support…

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Innergex starts commercial operation of Boswell Springs wind farm

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Innergex Renewable Energy commenced commercial operation of its Boswell Springs wind farm in Albany County, Wyoming, on December 31, 2024.  The 330 MW wind farm supplies clean electricity under a 30-year power purchase agreement (PPA) with PacifiCorp, which serves over two million customers across six western US states. The project spans 21,500 acres, features approximately 100 wind turbines, and has an expected annual generation capacity of 1,160 gigawatt hours (GWh). Innergex financed, constructed, and started…

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ENGIE expands Ras Ghareb wind farm in Egypt to 650 MW

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ENGIE has announced an expansion of its wind farm in Ras Ghareb, Egypt, increasing its capacity from 500 MW to 650 MW.  Developed by the Red Sea Wind Energy Consortium—comprising ENGIE, Orascom Construction, Toyota Tsusho, and Eurus Energy—the project is the largest wind farm in Africa. The expansion includes a new 25-year revenue agreement with the Egyptian Electricity Transmission Company.  The wind farm supports Egypt’s goal of achieving 42% renewable energy by 2030. Once fully…

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KKR and PSP Investments acquire stake in AEP’s transmission assets

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Investment funds managed by KKR and the Public Sector Pension Investment Board (PSP Investments) have agreed to acquire a 19.9% stake in American Electric Power’s (AEP) Ohio and Indiana & Michigan transmission companies for $2.82 billion. KKR and PSP Investments have established a 50/50 strategic partnership to complete the acquisition. The investment will support AEP in addressing increasing customer demand and improving grid reliability. AEP will retain majority ownership and operational control of the transmission…

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DOE closes loan guarantee for Montana Renewables’ biofuels expansion

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The Department of Energy’s (DOE) Loan Programs Office (LPO) has closed a $1.67 billion loan guarantee to Montana Renewables, LLC (MRL), including $1.44 billion in principal and $233 million in capitalized interest.  The loan will support the expansion of MRL’s renewable fuels facility in Montana, which produces sustainable aviation fuel (SAF), renewable diesel, and renewable naphtha from vegetable oils, fats, and greases. The facility, operational since late 2022, currently produces 140 million gallons of biofuels…

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Orb Energy surpasses Rs 3 billion in financing for MSMEs’ solar transition

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Orb Energy, a vertically integrated solar energy solutions provider, has crossed Rs 3 billion in financing disbursements through its zero-collateral, zero-down-payment in-house finance facility.  This milestone underscores the company’s commitment to enabling Indian micro, small, and medium enterprises (MSMEs) and small- and medium-sized businesses (SMBs) to transition to solar energy. Orb Energy’s financing solutions address the high upfront costs that often deter solar adoption among SMEs. The company aims to disburse an additional Rs 10…

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Sunsure Energy secures Rs 4.16 billion for 150 MW solar park in Maharashtra

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Sunsure Energy has achieved financial closure for its 150 MW open access solar park project in Solapur, Maharashtra.  The company secured long-term debt financing of Rs 4.16 billion (USD 48.07 million) from Aseem Infrastructure Finance Limited. The first phase of the solar park has been commissioned, and the entire project is slated for completion by March 2025. Power generated will be supplied to industrial clients, including Sandoz, KSB, Olon, Bharat Forge Limited, Kirloskar Brothers Limited,…