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Akaysha Energy completes first stage of WSB project in NSW
Akaysha Energy has completed the first stage of energisation at the Waratah Substation Battery (WSB) project in New South Wales (NSW), marking its registration on Australia’s National Electricity Market (NEM). The 850MW/1.68GWh Battery Energy Storage System (BESS) is set to be the largest standby network battery in the southern hemisphere and the world’s most powerful battery. Developed in partnership with EnergyCo, Transgrid, Powin, and eks Energy, the WSB project will act as a “shock absorber”…
DIPAM approves IREDA to raise Rs 45 billion through equity issue
Indian Renewable Energy Development Agency Limited (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise approximately Rs 45 billion via a fresh equity issue through qualified institutions placement (QIP). Following the equity raise, the Government of India plans to reduce its shareholding in IREDA by up to 7%, potentially in one or more stages.
COP29 president lays out plans for summit
Azerbaijan’s leadership unveiled its plans for the upcoming COP29 Summit, emphasizing the expansion of global energy storage capacity and reducing methane emissions, but omitting any commitment to phasing out fossil fuels. In a letter outlining the COP29 presidency action agenda, Azerbaijan’s Minister of Ecology and Natural Resources, Mukhtar Babayev, pledged, alongside UNECE and UNIDO, to increase global energy storage sixfold to 1.5 TW by 2030 and add or refurbish over 80 million kilometers of grids…
Apraava Energy awarded transmission project in Rajasthan
Apraava Energy has secured an interstate transmission project in Rajasthan through the tariff-based competitive bidding (TBCB) process. The project involves the construction of approximately 200 km of 400 kV and 765 kV transmission lines, along with a pooling station, to facilitate the evacuation of 5.5 GW of renewable energy from Rajasthan’s Renewable Energy Zone Phase IV. Located in the Jaisalmer and Barmer regions, the project will play a key role in India’s renewable energy goals….
Global energy efficiency improvements lag behind COP28 targets: IEA
One year after the COP28 pledge to double global energy efficiency by 2030, a report from the International Energy Agency (IEA) reveals that countries are falling short of this goal. The IEA’s Energy Efficiency 2024 report shows that global primary energy intensity—a core energy efficiency metric—is set to improve by around 1% in 2024, the same rate as in 2023, far below the 4% target needed by 2030. At COP28, nearly 200 countries committed to…
Solar paraboloid technology: A promising solution for renewable energy
Solar paraboloid technology is gaining attention as a potential game-changer in the shift towards renewable energy. This advanced form of concentrated solar power (CSP) can increase the efficiency of capturing solar energy, potentially outperforming traditional photovoltaic (PV) systems. Solar paraboloids use parabolic mirrors to focus sunlight onto a receiver tube, heating a fluid to generate electricity or provide heat for industrial use. Operating at higher temperatures (up to 300°C), they achieve greater thermal efficiency by…