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EIB and Intesa Sanpaolo launch €8 billion wind sector initiative
The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind farm supply chains and grid…
ReNew signs deal with Microsoft to supply 437.6 MW of green energy
ReNew, a leading renewable energy company in India, has entered into an agreement with tech giant Microsoft to supply 437.6 MW of green electricity attributes annually. This agreement is one of the largest corporate renewable deals in India and supports Microsoft’s goal to become carbon-negative by 2030. Under the agreement, ReNew will produce over one million units of green electricity attributes each year. As part of the deal, ReNew has pledged to allocate approximately $15…
Avaana Capital raises $135-mn climate-tech VC fund
Avaana Capital, India’s climate-focused venture capital firm, has infused its Avaana Climate and Sustainability Fund with USD 135 million, supported by prominent institutional investors, including the Green Climate Fund (GCF). Anjali Bansal, partner at Avaana Capital, highlighted the significance of this support, emphasizing the role of innovation in driving climate action and creating long-term impact. The fund aims to build the next generation of climate-first companies across three core sectors—Energy and Resource Management, Mobility and…
Ocean Winds selects Wood Thilsted for Caledonia Offshore Wind Farm turbine foundation design
Ocean Winds (OW) has appointed Wood Thilsted to develop the structural concept design for turbine foundations at its 2 gigawatt (GW) Caledonia Offshore Wind Farm in the Moray Firth, Scotland. Under this contract, Wood Thilsted will utilize ground and metocean data collected over the past two years from the 429 square kilometre Caledonia site. This data will inform the modeling and design of the preferred foundation concepts. The engineering consultancy will leverage insights from Ocean…
rPlus Energies secures PPA with Idaho Power for Pleasant Valley Solar 2 project
Renewable energy developer rPlus Energies has finalized a long-term power purchase agreement (PPA) with Idaho Power for its 125 MW Pleasant Valley Solar 2 facility in Ada County, Idaho. This project follows the 200 MW Pleasant Valley Solar 1, also under construction, making Pleasant Valley Solar the largest contracted solar facility within the Idaho Power system. Both projects will supply renewable energy to support Meta’s 100% clean energy goals for its data center in Kuna,…
BC Jindal Group to invest $2.5 billion in India’s renewable energy sector
BC Jindal Group has announced its entry into India’s renewable energy sector, planning to invest approximately $2.5 billion over the next five years. The group has established Jindal India Renewable Energy (JIRE) to manage this endeavour, aiming to achieve decarbonization and ensure responsible environmental stewardship. JIRE’s goal is to produce 5 GW of power through hybrid, solar, wind, and Floating Solar and Direct Renewable Energy (FDRE) technologies. Currently, BC Jindal Group is developing 1,200 MW…