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Hungary proposes amendments to Paks nuclear plant contract with Rosatom
On November 19, 2024, the Hungarian government introduced a bill to its parliament seeking to amend the existing contract with Russia’s Rosatom for the expansion of the Paks nuclear power plant. The Paks expansion, valued at €12.5 billion ($13.2 billion), includes two 1.2 GW VVER reactors and is critical for Hungary’s energy strategy. The plant…
TVA signs 10-year PPA for 14 GWh carbon-free energy with Smoky Hydro
The Tennessee Valley Authority (TVA), along with Argo Infrastructure Partners and Brookfield Asset Management, has finalized a 10-year power purchase agreement (PPA) for carbon-free energy from the Smoky Mountain Hydroelectric facilities. The agreement covers four hydroelectric dams—Cheoah, Calderwood, Chilhowee, and Santeetlah—jointly owned by Argo and Brookfield. Starting in 2025, Smoky will deliver over 14 gigawatt-hours…
PFCCL initiates empanelment process for AMISP under RDSS
PFC Consulting Ltd (PFCCL), a subsidiary of Power Finance Corporation Ltd, has initiated the empanelment of advanced metering infrastructure service providers (AMISP) under the centrally-sponsored Revamped Distribution Sector Scheme (RDSS). As one of the project implementation agencies (PIA) for smart metering under RDSS, PFCCL is seeking to empanel AMISPs to execute prepaid smart metering projects….
Fortum exits India’s renewable energy market
Fortum Oyj has exited India’s renewable energy market by selling its platform, Fortum India Pvt Ltd (FIPL), to New York-based Hexa Climate Solutions, backed by I Squared Capital. Hexa acquired 100% of FIPL, including its management company, carbon credits, and a 40-member team. The sale process, managed by EY, attracted five bidders, including Japan’s Marubeni…
South Africa wins €400m for solar and wind projects from EIB and FirstRand
Several solar and wind projects in South Africa will receive €400 million through a joint initiative between the European Investment Bank (EIB) and South Africa’s FirstRand Bank. The investment, with each party contributing €200 million, aims to enhance private sector energy generation, boost energy security, and mitigate power cuts. The funding aligns with Europe’s Global…
Andhra Pradesh grants discom licence to Google for Vizag data centre hub
The Andhra Pradesh cabinet has approved a power distribution licence for Google’s $15-billion data centre hub in Visakhapatnam, making it the first private company in the state to receive such approval. Google has secured the distribution company (discom) licence ahead of the project’s scheduled groundbreaking on April 28, 2026. The licence allows the company to…
