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Iberdrola acquires 88% stake in Electricity North West
Iberdrola has finalized the acquisition of an 88% stake in UK-based Electricity North West (ENW), valuing the entire company, including debt, at €5 billion ($5.4 billion). ENW serves approximately 5 million people across northwest England, including Manchester and the Lake District, managing 60,000 km of distribution networks. This acquisition is strategically significant for Iberdrola, as ENW is situated between the existing ScottishPower network regions in Scotland and areas in Merseyside and North Wales. The move…
Indian metal companies race to secure renewable energy amid EU carbon regulations
Indian steel and metal companies are rushing to secure renewable energy deals to cut carbon emissions and avoid penalties under the EU’s upcoming Carbon Border Adjustment Mechanism (CBAM). This demand extends beyond large steel and aluminium companies to their suppliers, aiming to reduce emissions across their supply chains. Renewable energy providers report that demand outstrips current capacity, with new projects already sold out for the next few years. Avaada chairman Vineet Mittal indicated that due…
X-ELIO expands into Australian market with blue grass solar farm storage project
X-ELIO has announced the expansion of its Blue Grass Solar Farm, located in Queensland’s Western Downs, by integrating a 148 MW Battery Energy Storage System (BESS). This marks X-ELIO’s first hybrid solar and storage project in Australia. The project will be developed in two phases: the first phase will deliver 60 MW BESS by 2025, followed by an additional 88 MW BESS in the second phase by 2026. The 200 MW solar farm, operational since…
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…
Jakson Green signs Rs 14.2 billion MoU with REC for solar IPP projects
Jakson Green has signed a memorandum of understanding (MoU) worth Rs 14.2 billion with REC Limited to develop solar independent power producer (IPP) projects. This investment aims to boost renewable energy capacity, reduce fossil fuel reliance, and lower carbon emissions, supporting India’s net zero goals and promoting a sustainable economy.
EDF Renewables acquires Shell’s stake in South Korean offshore wind project
EDF Renewables has completed the acquisition of Shell Overseas Holdings’ shares in West Sea Energy 1, entering South Korea’s offshore wind sector. West Sea Energy 1 focuses on developing a high-power offshore wind project with a maximum capacity of 1.5 GW, the first offshore wind facility owned by EDF Renewables in South Korea. This acquisition aligns with EDF Renewables’ strategic goals to expand its presence in the Asia-Pacific region, with plans to secure an electricity…