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World Bank approves grant for Malawi’s 358.5 MW hydropower project

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The World Bank has approved a USD350 million grant for the Mpatamanga Hydropower Storage Project (MHSP) in Malawi. The funding was cleared by the International Development Association (IDA), a part of the World Bank Group. The 358.5 MW project was co-developed by the Government of Malawi and the International Finance Corporation under a public-private partnership model. The total expected cost exceeds USD1.5 billion, including financing during construction. Once operational, the project is expected to generate…

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Germany signals support for nuclear power in EU energy legislation shift

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Germany has informed France it will no longer oppose recognising nuclear power as equal to renewable energy in European Union (EU) legislation, according to a report by Reuters. This marks a major shift in Germany’s energy policy under its new Chancellor, Friedrich Merz. Historically, Germany and France have held divergent views on nuclear energy. While France relies on nuclear power for around 70 per cent of its electricity, Germany had shut down its reactors, classifying…

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Fluxys, OQGN to jointly develop hydrogen network in Oman

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Fluxys and OQ Gas Networks SAOG (OQGN) have signed an agreement to jointly develop a hydrogen transportation network in Oman. Fluxys will participate as a minority shareholder, while OQGN will lead the project. The planned hydrogen infrastructure aligns with Oman’s Vision 2040 and national hydrogen targets. Both companies aim to accelerate the country’s energy transition by enabling large-scale hydrogen transport. Fluxys, a Belgium-based energy infrastructure company, operates 28,000 km of pipelines and liquefied natural gas…

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Seven firms shortlisted for $2.28bn Oman power projects

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Seven companies have been shortlisted to bid for two major power projects in Oman, valued at OR880 million (US$2.28 billion). The tender process is being overseen by Nama Power and Water Procurement Company, the country’s sole buyer of power and water. The shortlisted firms include ACWA Power (Saudi Arabia), Korea Western Power, Marubeni Corporation (Japan), Nebras Power (Qatar), and others from the United Arab Emirates, China, and South Korea. These companies were selected from a…

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Singapore commits $500 million to clean energy in Asia

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The Government of Singapore has announced a $500 million investment under its FAST-P (Financing Asia’s Transition Partnership) program to support clean energy deployment and industrial decarbonisation across Asia. Launched in 2023, FAST-P aims to lower investment risks in energy transition projects by providing catalytic capital that matches private sector funds on a 1:1 basis. The goal is to mobilise a total of $5 billion using blended finance. The funding will focus on renewable energy, electric…

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Terna and IPTO agree to develop second Italy–Greece power link

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Terna, Italy’s national grid operator, and IPTO (Independent Power Transmission Operator), the Greek transmission system operator, have signed a memorandum of understanding (MoU) to develop a new high-voltage electricity interconnection named GRITA 2. The agreement, set for three years, outlines a joint governance framework for planning and coordination. It also sets the stage for future agreements related to cable and converter station procurement. The GRITA 2 project will be a high-voltage direct current (HVDC) link…

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Vietnam proposes 15 MW geothermal project for inclusion in PDP8

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The Provincial Government of Binh Dinh has proposed the inclusion of the 15 MW Hoi Van geothermal power project in Vietnam’s national power development plan VIII (PDP8). The project, to be located in Cat Hiep commune, Phu Cat district, requires an estimated investment of USD32.7 million. It is intended to diversify the province’s energy mix and contribute to national renewable energy targets. Geothermal energy is still at an early stage in Vietnam, but the country’s…

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Zelestra locks €146.6m to build six solar projects in Spain

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Zelestra has secured €146.6 million in green financing to build six solar photovoltaic (PV) projects in Spain. The projects will form two clusters—Belinchón and Brazatortas—adding a combined capacity of 237 megawatt direct current (MWdc). The financing package covers 21 power purchase agreements (PPAs). BNP Paribas and Rabobank led the arrangement. Both acted as mandated lead arrangers, issuing banks, and hedging providers. BNP Paribas also took on the role of green loan coordinator. The Belinchón cluster,…

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Masdar and Samruk-Kazyna to develop renewables in Kazakhstan

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Masdar has signed a collaboration agreement with Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, to develop renewable energy and battery energy storage system (BESS) projects in the country. The signing was witnessed by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Kazakhstan President Kassym-Jomart Tokayev. The partners plan to launch a ’24/7′ renewable energy initiative to deliver up to 500MW of baseload clean energy, alongside BESS projects with up to 2GW of…

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AIIB, ADB, and AIF partner to boost ASEAN infrastructure and power grid

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The Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), and ASEAN Infrastructure Fund (AIF) have signed a letter of intent to collaborate on ASEAN-related infrastructure projects.  The agreement outlines cooperation on high-impact projects, including the ASEAN Power Grid (APG) and ASEAN Catalytic Green Finance Facility (ACGF). The partnership will focus on project origination, co-financing, technical cooperation, and knowledge sharing. It aims to mobilise joint expertise and financial resources, aligning AIIB and ADB assistance with…