Power Sector News Roundup for January 24, 2025

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Global: Technip Energies wins FEED contract for Uniper’s new UK power plant Trump suspends IRA funding, halting clean energy projects CleanMax secures financing to develop solar projects in UAE Uzbekistan’s NEGU targets 76.1 billion TWh electricity transmission in 2025 Waaree Solar Americas starts commercial production of solar modules in Texas Solar power overtakes coal in EU electricity mix in 2024 BII commits $95 million to climate action in South-East Asia India: Bondada Group to establish…

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BII commits $95 million to climate action in South-East Asia

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British International Investment (BII) has pledged $95 million to support climate action in South-East Asia, including a $70 million top-up commitment to the SUSI Asia Energy Transition Fund (SAETF) and a co-investment commitment to Sustainable Asia Renewable Assets (SARA). SARA, a joint initiative between BII, FMO, and SUSI under SAETF, aims to develop a 500 MW portfolio of greenfield renewable energy projects across select South-East Asian markets by the fund’s end.  In addition, SUSI has…

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Solar power overtakes coal in EU electricity mix in 2024

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Solar power surpassed coal in the European Union’s (EU) electricity mix for the first time in 2024, according to energy think tank Ember.  Solar accounted for 11% of the EU’s electricity mix, up from 9.3% in 2023, while coal fell below 10%, the lowest since Ember began tracking in 2011. Gas-fired power dropped to 15.7% from 16.9% in 2023. Wind power remained steady at 17.4%, though new wind capacity of 13GW in 2024 was partially…

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Waaree Solar Americas starts commercial production of solar modules in Texas

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Waaree Solar Americas, a wholly-owned subsidiary of Waaree Energies Limited (WEL), has begun the commercial production of solar modules at its manufacturing facility in Brookshire, Texas, with a capacity of 1,600 MW. This facility marks a key step in localising solar module manufacturing in the United States, supporting job creation and reducing dependence on imported solar products.  The Texas plant will produce high-quality photovoltaic modules to meet the growing demand for renewable energy solutions in…

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Uzbekistan’s NEGU targets 76.1 billion TWh electricity transmission in 2025

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Uzbekistan’s JSC National Electric Grid of Uzbekistan (NEGU) aims to transmit 76.1 billion TWh of electricity through its networks in 2025, an increase from 74 TWh in 2024. In 2024, NEGU made significant improvements, including adding 543 km of high-voltage transmission lines, 1,627 MVA capacity substations, and repairing 309 transformers and over 6,400 km of transmission lines. The grid also integrated renewable energy projects, connecting 763 MW of solar and 1,500 MW of wind power….

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CleanMax secures financing to develop solar projects in UAE

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CleanMax has secured a long-term credit facility of AED 99 million from Hong Kong and Shanghai Banking Corporation (HSBC) to develop and finance its onsite solar portfolio in the UAE. The facility will support the installation of 92 solar assets across industrial facilities, malls, schools, and universities. Additionally, the financing includes an uncommitted accordion of AED 37 million for future projects, in line with the UAE’s Net Zero 2050 strategy.

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Trump suspends IRA funding, halting clean energy projects

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US President Donald Trump has issued an executive order suspending all funding disbursements under the Inflation Reduction Act (IRA), marking a significant shift in the US energy agenda.  The move, termed “Terminating the Green New Deal,” also halts funding for the Infrastructure Investment and Jobs Act, impacting clean energy and manufacturing projects. Federal agencies now have 90 days to submit reviews and spending recommendations to the Office of Management and Budget and the National Economic…

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Technip Energies wins FEED contract for Uniper’s new UK power plant

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Technip Energies has been awarded a front-end engineering design (FEED) contract for Uniper’s new combined cycle gas turbine (CCGT) power station with carbon capture and storage (CCS) at Connah’s Quay, located in the northwest of England. The Connah’s Quay low-carbon power project will be integrated into the Hynet Cluster’s CO₂ transport and storage infrastructure.  Uniper aims to develop the first phase of the CCGT and CCS project to commence commercial operations by the end of…

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KPIL secures Rs 20.38 bn orders in T&D and building projects

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Kalpataru Projects International Limited (KPIL) has won new orders worth Rs 20.38 billion in the transmission and distribution (T&D) sector across domestic and international markets, along with building projects in India. These orders increase KPIL’s year-to-date (YTD) order intake to Rs 193.61 billion. KPIL is a leading engineering, procurement, and construction (EPC) firm engaged in power transmission & distribution, buildings & factories, oil & gas pipelines, and water supply projects.

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Akshat Greentech to set up solar manufacturing facility in Hyderabad

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The Telangana government has signed a memorandum of understanding (MoU) with Akshat Greentech, a subsidiary of Mytrah Energy, to establish a solar cells and modules manufacturing facility in Hyderabad. The agreement was finalized during the World Economic Forum 2025 in Davos. The facility will have a production capacity of 6.9 GW each for solar cells and modules, requiring an investment of Rs 70 billion. It is expected to create over 2,500 direct jobs, boosting local…