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Zelestra explores $400–500 million India exit amid market optimism

Multinational energy firm Zelestra is preparing to sell its India business, estimated at $400–500 million, and has approached Brookfield, JSW Group, Sembcorp, Serentica, and Macquarie as potential buyers, reported Mint. The company has appointed JP Morgan to advise on the sale. The portfolio includes over 3 GW of hybrid renewable projects combining solar, wind, and battery storage. These projects are either operational or under development. Zelestra’s move reflects a wider trend of global energy firms…

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Actis acquires Stride Climate’s 371 MW solar portfolio in India

Actis, a global investor in sustainable infrastructure, has acquired the entire operating portfolio of Stride Climate Investments, consisting of 371 MW (414 MWp) of solar power projects in India.  The deal was finalized with Macquarie Asset Management, which previously managed the portfolio. The portfolio includes 21 solar projects spread across seven states, with a significant concentration in Gujarat. These projects operate under long-term pay-as-produce power purchase agreements with a diverse set of off-takers, including central…

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Sheringham Shoal and Dudgeon offshore wind farm extension projects to be developed jointly

The Sheringham Shoal and Dudgeon offshore wind farm extension projects in Norfolk, UK, will be developed under a joint ownership structure, subject to regulatory approval. This will streamline the development process by combining the two projects into a single legal entity. Development consent for both projects was granted in April 2024 under a unified application, allowing for joint or sequential development approaches. The new ownership structure facilitates cost-effective development, reduces environmental impacts in Norfolk, and…

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Corio Generation plans staff reductions amid wind sector challenges

Corio Generation, a London-based offshore wind developer backed by Macquarie Group, is planning staff reductions due to rising costs and pressures within the renewable energy sector.  Since its founding in 2022, Corio has expanded with major projects in the UK, South Korea, and the US. However, increasing equipment and debt costs have led to project cancellations and workforce cuts across the offshore wind industry. Corio’s staff reductions will affect under 10% of its 270-person workforce,…

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Strike Energy approves South Erregulla gas power plant project

Strike Energy has announced a final investment decision (FID) to proceed with the South Erregulla gas power plant in Western Australia.  The 85 MW facility will supply firming power to the South West Interconnected System through the existing 132 kVa transmission line between Geraldton and Three Springs. The project’s FID was bolstered by improved economics due to increased projected plant utilization and high future capacity credit prices.  Utilization is expected to rise from 18.8% to…

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UK secures £24bn in green energy investments

The UK government has secured over £24 billion ($31.39 billion) in private investments for innovative energy projects ahead of the International Investment Summit on 14 October 2024. These investments are expected to create thousands of jobs and drive growth in the UK’s clean energy sector, spanning from Yorkshire to Suffolk, Aberdeen, and Stow. Key companies involved include Iberdrola, Ørsted, SeAh Wind, Macquarie, BW Group, and Holtec, with substantial commitments to renewable energy projects. Iberdrola’s subsidiary…