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World Bank approves USD 250 million for renewable energy in Lebanon

Global, News

The World Bank’s Board of Executive Directors has approved a USD 250 million project to expand renewable energy sources (RES) in Lebanon and support ongoing electricity grid reforms. The initiative will strengthen Lebanon’s state-owned Electricité du Liban (EDL) operational and commercial systems, increase grid-connected RES supply, and reinforce the national power network.  Key components include developing a grid-connected solar photovoltaic (PV) plant, rehabilitating the Litani River Authority (LRA) hydropower plant, and upgrading the EDL transmission…

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India, World Bank sign $500 million project for green highways in four states

India, News

The Government of India and the World Bank have signed a $500 million project to develop safe and green national highway corridors in Rajasthan, Himachal Pradesh, Uttar Pradesh, and Andhra Pradesh. This initiative aims to enhance the Ministry of Road Transport and Highways (MoRTH) capacity in integrating safety and green technologies into highway construction. The Green National Highways Corridors Project will support MoRTH in constructing 783 km of highways using local materials, industrial byproducts, and…

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Utilities at the Crossroads: Tackling the Energy Transition with Real-World Solutions

Analysis, Features

As the global push towards decarbonization intensifies, the role of utilities in the energy transition becomes increasingly critical. Utilities are at the forefront of efforts to decarbonize electricity supply and electrify energy demand, collectively known as the energy transition. They are tasked with increasing the share of renewable energy in their generation mixes, modernizing networks to integrate these variable power sources, and managing the diverse power needs of industry, households, and transportation. Additionally, utilities must…

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Tekmar Energy delivers cable protection for world’s largest offshore wind farm

Global, News

Tekmar Energy has delivered cable protection systems (CPS) for 328 km of 66KV inter-array cables at Dogger Bank A, a critical phase in constructing the world’s largest offshore wind farm off the east coast of England. The operation involves DEME Offshore’s cable-laying vessel Viking Neptun and burial operations by Living Stone. The network will include 95 cables, some extending 13.8 km, connecting Dogger Bank A’s 95 Haliade-X 13MW turbines to the offshore converter station. Electricity…

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MDBs pledge $120 billion for low-income nations at COP29

Global, News

At COP29 in Baku, Azerbaijan, leading multilateral development banks (MDBs) announced plans to collectively mobilize $120 billion annually in climate financing for low- and middle-income countries by 2030, with $42 billion dedicated to adaptation.  The private sector is expected to contribute an additional $65 billion each year. High-income countries are set to receive $50 billion annually in climate finance, including $7 billion for adaptation.  The MDBs exceeded their 2025 climate finance projections by a 25%…

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GE Vernova T&D India quadruples order inflows in Q2 FY25

India, News

GE Vernova T&D India Ltd reported a significant rise in order inflows for Q2 FY25, reaching Rs 46.82 billion, over four times the Rs 10.82 billion recorded in Q2 FY24.  For the first half of FY25 (April-September), orders grew by 173 per cent to Rs 57.11 billion from Rs 20.88 billion in H1 FY24, with domestic orders accounting for 53 per cent. As of September 30, 2024, GE Vernova’s order book stood at Rs 98.36…

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Rwanda’s Electrification Success: From 6% to 75% Access in 15 Years

Analysis, Features

In the past decade and a half, Rwanda’s electricity sector has seen transformative growth, increasing access to electricity from 6% in 2009 to 75% by March 2024. This development has facilitated electrification in 100% of health centres and administrative facilities at the sector level, while also reaching 84% of schools and small enterprises. According to the World Bank, Rwanda’s electrification expansion, especially from 2010 to 2020, was one of the fastest globally, ranking 11th worldwide…

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India seeks $70 million from CIF to bolster energy storage and grid projects

India, News

India has drafted a proposal seeking $70 million in financing from the Climate Investment Funds (CIF) to enhance energy storage systems (ESS) and grid projects under the Renewable Energy Integration Investment Plan (REI IP), a joint effort by the Ministry of Finance and the Ministry of New and Renewable Energy (MNRE). Of the requested amount, $5 million will support technical assistance, project preparation, and capacity building. The initiative aims to mobilise $1.1 billion with funding…

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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Investment Opportunities for Utility-Scale Solar and Wind Areas in Mali

Analysis, Features

The International Renewable Energy Agency (IRENA) has conducted a thorough zoning assessment to identify the most promising regions in Mali for the development of utility-scale solar photovoltaic (PV) and onshore wind projects. This assessment serves to inform potential investors, policymakers, and developers on optimal locations, considering both technical feasibility and economic viability. The results are crucial for Mali’s renewable energy future, particularly as it looks to enhance its electricity supply and contribute to global climate…