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Copenhagen Energy to accelerate 4 GW offshore wind projects in the Philippines

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Copenhagen Energy and PetroGreen Energy Corporation have obtained the Green Lane Certificate from the Philippine Board of Investments for their joint floating offshore wind projects under BuhaWind Energy Philippines. This certification will accelerate the permit process, facilitating faster development of their planned 4 GW offshore wind farms. The initiative includes three projects: A 2 GW wind farm in Northern Luzon, targeted for operation by 2030. A 1 GW project in Northern Mindoro, expected to launch…

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Turkey aims to quadruple wind and solar capacity by 2035

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Turkey‘s Energy Minister, Alparslan Bayraktar, announced that the country will need $108 billion in public and private investment to increase its wind and solar power capacity to 120,000 MW by 2035, aiming to quadruple its current capacity.  This announcement was made during an event outlining Turkey’s renewable energy roadmap. The first renewable energy resource area tender conditions for 2024 will be disclosed next week. The energy ministry is revising regulations to encourage private sector investment…

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Gansu Energy Bureau approves 750 kV Wuwei North project in China

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The Gansu Provincial Energy Bureau has approved the 750 kV Wuwei North (Oasis) transmission and transformation project, an essential component of the ‘Gong Electricity into Zhejiang’ initiative. The project, being developed by State Grid Wuwei Power Supply Company, a subsidiary of the State Grid Corporation of China (SGCC), involves constructing a new 750 kV substation with a transformation capacity of 4×2100 MVA and 232.5 km of 750 kV transmission lines. This marks the first 750…

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X-ELIO expands into Australian market with blue grass solar farm storage project

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X-ELIO has announced the expansion of its Blue Grass Solar Farm, located in Queensland’s Western Downs, by integrating a 148 MW Battery Energy Storage System (BESS). This marks X-ELIO’s first hybrid solar and storage project in Australia.  The project will be developed in two phases: the first phase will deliver 60 MW BESS by 2025, followed by an additional 88 MW BESS in the second phase by 2026. The 200 MW solar farm, operational since…

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EIB grants €120 million loan to Iberdrola for energy innovation in Spain

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The European Investment Bank (EIB) has signed a €120 million loan agreement with Iberdrola to support research and innovation in energy technologies, focusing on accelerating electrification and decarbonisation. The total investment associated with these initiatives amounts to €250 million. The funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, wind power, hybrid, and agrovoltaic projects. It will also support research into decarbonisation technologies such as green hydrogen and heat…

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Georgia Power secures $160 million DOE grant for grid enhancement

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Georgia Power has received $160 million from the US Department of Energy (DOE) under the Grid Resilience and Innovation Partnerships (GRIP) programme to enhance the resilience and efficiency of Georgia’s power grid.  This funding, part of the Bipartisan Infrastructure Law, aims to lower investment costs for customers and boost grid flexibility, ensuring communities have reliable and affordable electricity. The grant will support various projects across Georgia, aiding the state’s transition to cleaner energy and the…

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Viaro Energy and Terrestrial Energy partner to develop IMSR nuclear project in the UK

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British energy company Viaro Energy and US-based Terrestrial Energy have signed a memorandum of understanding to develop the Integral Molten Salt Reactor (IMSR) nuclear project in the UK. The partnership aims to deliver reliable, emission-free, and cost-competitive nuclear energy using advanced reactor technology. Terrestrial Energy CEO Simon Irish emphasized that both companies share a vision for expanding nuclear energy to achieve energy security and net zero goals. They aim to deploy small and modular power…

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Energy Vault partners with Enervest Group for 1 GWh BESS project in Australia

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Energy Vault Holdings has partnered with the Enervest Group to deploy a 1 gigawatt-hour (GWh) battery energy storage system (BESS) at the Stoney Creek site in New South Wales (NSW), Australia.  Enervest CEO Ross Warby highlighted the strength of the partnership, emphasizing Energy Vault’s expertise in technology and system design as key factors. He also mentioned the importance of engaging with local and indigenous communities, such as the Narrabri community, to ensure the successful delivery…

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Ocean Winds and Eletrobras partner to explore offshore wind opportunities in Brazil

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Ocean Winds (OW) and Eletrobras have signed a memorandum of understanding (MoU) in São Paulo to collaborate on offshore wind energy projects in Brazil, aligning with the country’s renewable energy targets and economic development goals.  This partnership aims to harness Brazil’s wind resources to create a sustainable energy future while promoting local job creation and community development. OW, a 50/50 joint venture between EDP Renewables (EDPR) and Engie, has identified Brazil as a strategic market…

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Dominion finalises sale of 50% stake in CVOW project to Stonepeak

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Dominion Energy has completed the sale of a 50% non-controlling interest in its Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak, an alternative investment firm.  This transaction, first announced in February 2024, has provided Dominion Energy with $2.6 billion in proceeds, approximately half of the capital investment made in the project so far. Stonepeak will also finance half of the remaining project costs, following pre-disclosed conditions. Dominion Energy retains full operational control over the…