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Quinbrook signs offtake agreements with Tesco and Shell for Cleve Hill solar park

Global, News

Quinbrook Infrastructure Partners has secured two major offtake agreements for its 373MW Cleve Hill solar park in Kent, set to be the UK’s largest solar and battery storage project.  Tesco signed a 15-year power purchase agreement (PPA) for 65% of the solar generation, the largest solar corporate PPA in the UK, while Shell has committed to a ten-year route-to-market agreement for the remaining 35%.  The project, which includes a 150MW battery storage component, is expected…

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Ukrnafta launches tender for 76.4 MW gas generator sets, valued at $38.3 million

Global, News

Ukrnafta, Ukraine’s largest oil producer, has announced 16 tenders to purchase gas generator sets totaling 76.4 MW in capacity, with an expected acquisition cost of UAH 1.576 billion (approximately $38.3 million) before VAT. The tenders, scheduled for August 26-27, aim to secure generators with capacities ranging from 1 MW to 14 MW, to be delivered by December 31, 2025. The company plans to acquire various generator capacities, including two sets of 1-1.3 MW, one set…

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Energy Vault to build 57MW battery storage project in Texas

Global, News

Energy Vault has announced plans for a 57MW/114MWh battery energy storage system (BESS), named Cross Trails BESS, to be built in Scurry County, Texas.  Construction is scheduled to begin in Q1 2025, with commercial operations expected by mid-2025.  Energy Vault will build, own, and operate the project using its X-Vault integration platform, UL9540-certified B-VAULT product, and VaultOS energy management system, offering flexibility for both AC and DC-coupled configurations. The project aims to boost renewable energy…

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BASF and AM Green partner to explore low-carbon chemical production in India

India, News

BASF and AM Green B.V. have signed a memorandum of understanding (MoU) to explore business opportunities for developing low-carbon chemicals produced exclusively with renewable energy.  As part of the agreement, both companies plan to conduct feasibility studies in India, assessing potential technologies for low-carbon chemical production. The collaboration also includes a non-binding letter of intent (LoI) for BASF to offtake 100,000 tonnes annually of ammonia produced solely with renewable energy. This includes energy from pumped…

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European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen reports

Global, News

According to LevelTen, a price tracking platform, European power purchase agreement (PPA) prices for green electricity dropped by 12.4% in Q3 2024 compared to the same period in 2023.  This decrease is attributed to declining inflation and reduced market volatility following the COVID-19 pandemic and the 2022 energy crisis. LevelTen’s quarterly report suggests that current stable market conditions present an opportunity for buyers to secure favourable deals. The variety of offtake opportunities for potential PPA…

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India seeks critical minerals agreement with the US to counter China

India, News

India and the US are working together to bolster their critical minerals supply chains, aiming to reduce dependency on China.  As part of this effort, the two countries plan to jointly explore third-country sources for securing critical minerals, with India seeking to transform the current Memorandum of Understanding (MoU) into a more comprehensive partnership agreement. Commerce and Industry Minister Piyush Goyal expressed hope that this move could pave the way for a future free trade…

Power Sector News Roundup for October 17, 2024

Power Bytes

Global: – World Bank approves USD 250 million for renewable energy in Lebanon– Masdar and Presight to launch AI tool for managing RE assets globally– Fugro to site investigate Rhein-Main-Link offshore wind cable project in Germany– Sumitomo and CEP Solar to deliver 1.5GW of clean energy projects in Virginia– Ignitis Group to bid in Lithuania’s second offshore wind tender – Quinbrook signs offtake agreements with Tesco and Shell for Cleve Hill Solar Park– VNG AG…

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Kerala’s Green Hydrogen Valley to be set up with Rs 185.42 billion investment

India, News

The Kochi Green Hydrogen Valley project in Kerala is set to transform the state’s energy landscape with a total estimated investment of Rs 185.42 billion. The project allocates Rs 41.66 billion for the development of electrolyzer and ammonia plants, while Rs 126.87 billion will be directed toward renewable energy expansion. The project will be implemented in three phases: Phase I (2024-25) will focus on developing green hydrogen clusters and renewable energy for industrial electrification; Phase…

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Vistra to acquire remaining 15% stake in Vistra Vision for $3.25 billion

Global, News

Vistra has signed definitive agreements to acquire the remaining 15% equity interest in its subsidiary, Vistra Vision, from affiliates of Nuveen Asset Management and Avenue Capital Management II LP. This acquisition will make Vistra the sole owner of Vistra Vision, which holds key assets, including the 6.4 GW Comanche Peak, Beaver Valley, Davis-Besse, and Perry nuclear generation facilities, along with the Vistra Zero renewables and energy storage business. The $3.248 billion cash transaction, set to…

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RWE, AMG in deal to supply green ammonia from India

India, News

RWE has signed a memorandum of understanding with AM Green Ammonia (AMG) for the long-term annual supply of up to 250,000 tonnes of green ammonia. The ammonia, derived from hydrogen, will be produced at AMG’s facilities in Kakinada and Tuticorin, India. Initially, 50,000 tonnes will be produced at Kakinada, with the remaining 200,000 tonnes sourced from the Tuticorin facility. The green ammonia will meet the EU’s Renewable Fuels of Non-Biological Origin (RFNBO) standards under the…