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Pakistan considers reducing solar PV incentives amid rapid adoption

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Pakistan is re-evaluating its incentives for rooftop solar photovoltaic (PV) systems due to concerns about grid reliability and increased capacity payments. The proposed changes include lowering buyback rates, limiting system sizes, and shifting from net metering to net billing. Despite these adjustments, the payback period for 5-25 kW solar PV systems remains under five years. With net-metered solar capacity reaching 2,200 MW in June 2024, the government aims to balance solar expansion with infrastructure stability.

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Torrent Power to invest Rs 1.1 trillion capex plan on renewables and storage

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Torrent Power has unveiled a capital expenditure plan of Rs 1.1 trillion over the next eight years, emphasizing renewable energy and energy storage initiatives.  More than 63% of this investment is earmarked for the renewable energy sector, underscoring the company’s dedication to India’s clean energy transition. Vice President Jinal Mehta detailed these plans during a panel discussion at the State Bank of India’s banking conclave. He highlighted Torrent Power’s strategy to expand its renewable energy…

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Sweden’s nuclear energy plans to cost $38 billion

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Sweden’s ambitious nuclear energy expansion, aiming to add 2.5GW of new capacity by 2035 and build ten new reactors by 2045, is projected to cost around Skr400 billion ($38 billion), according to a government-appointed commission. Despite the government’s goals, private sector investment has been lacking due to concerns over the return on large, fixed capital investments. The commission recommended that the Swedish government offer loans covering 75% of the construction costs for new power plants,…

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Octopus Energy completes acquisition of UK renewables developer Exagen Group

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Octopus Energy Generation has fully acquired UK-based renewables and energy storage developer Exagen Group from its founder, Jeremy Littman. Exagen’s development pipeline includes over 2.4GW of solar and energy storage projects across England. This acquisition will accelerate the execution of these projects, furthering the UK’s renewable energy goals. Littman expressed pride in the progress made by Exagen, highlighting the company’s mission to fight climate change. Octopus had initially invested in Exagen with a 24% stake…

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Public sector’s role key to energizing sustainable bond markets in Asia: IEEFA

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The Institute for Energy Economics and Financial Analysis (IEEFA) has highlighted the crucial role of public sector involvement in advancing sustainable bond markets across the ASEAN+3 region, which includes Southeast Asia, China, South Korea, and Japan. In a recent report, IEEFA pointed out that the region’s sustainable bond markets lag behind Europe due to limited public sector participation, affecting market development and investor confidence. Europe’s success in sustainable bonds is driven by strong public sector…

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Nigeria invests USD 800 million to upgrade power infrastructure

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The Nigerian government has announced an investment of USD 800 million under the Presidential Power Initiative to enhance the country’s power infrastructure. The plan focuses on the development of substations and distribution networks in key regions such as Benin, Port Harcourt, Enugu, Abuja, Kaduna, Jos, and Kano. The initiative aims to address persistent power deficits by improving the nation’s transmission and distribution (T&D) systems. Despite ongoing challenges, including power distribution companies’ inability to absorb the…

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Queensland launches leading solar panel recycling pilot with Smart Energy Council

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The Queensland Government, in partnership with the Smart Energy Council, has launched Australia’s leading solar panel recycling, reuse, and recovery pilot. The Solar Panel Stewardship program will implement solar panel recycling across the state, aiming to improve industry engagement with communities and establish better practices in the renewable energy sector. The pilot includes six solar panel collection sites in Capalaba and North Lakes in greater Brisbane, the Gold Coast, Rockhampton, Toowoomba, and Townsville, with a…

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