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China’s clean energy investment reaches $940bn in 2024

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China’s clean energy investments in 2024 totalled 6.8 trillion yuan ($940 billion), approaching the $1.12 trillion global investment in fossil fuels, according to a new analysis by UK-based Carbon Brief. Despite a slowdown in growth from 40% in 2023 to 7% in 2024, Reuters reports that China’s clean energy sector remains a key economic driver. More than half of China’s clean energy investments came from its electric vehicle, battery, and solar industries. The sector’s contribution…

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ACWA Power signs PPA for 2 GW wind project in Egypt

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ACWA Power has signed a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 2 GW wind project in Egypt, with an estimated investment of USD 2.3 billion. The project is expected to reach financial close in 2026. The wind project will contribute to Egypt’s goal of increasing renewable energy’s share in its electricity generation mix to 42% by 2030. It is also projected to reduce carbon emissions by over…

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BYD secures 12.5 GWh energy storage contracts in Saudi Arabia

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BYD Energy Storage and Saudi Electricity Company have signed contracts for 12.5 GWh of grid-scale energy storage projects. Combined with a previously delivered 2.6 GWh project, the total collaboration between the two companies now stands at 15.1 GWh. The battery energy storage system (BESS) equipment will be deployed across five sites in Saudi Arabia. BYD Energy Storage will supply its MC Cube-T ESS, which utilizes cell-to-system (CTS) super-integrated technology. These installations will support Saudi Arabia’s…

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Laos signs agreement for Nong wind project to supply Vietnam

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The Government of Laos has signed an agreement with Chitchareune Construction to develop the 1,200 MW Nong wind power project in Savannakhet province, Vietnam, with an investment of USD 1.9 billion. The project’s feasibility study is underway and is expected to be approved by the second quarter of 2026. The first phase, with a capacity of 702 MW and an investment of USD 1.12 billion, is set for completion by 2027. The second phase, adding…

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South Sudan-Uganda Power Interconnection Project secures AfDB, EU funding

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The governments of South Sudan and Uganda, in collaboration with the Nile Basin Initiative, have secured major funding from the African Development Fund (AfDB) and the European Union (EU) for the South Sudan-Uganda Power Interconnection Project. AfDB has committed USD 155 million in loans and grants, while the EU will provide an additional USD 27.1 million grant. The project, which faced delays due to financial and logistical issues, is now set for completion in 2028….

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GreenGo Energy to develop green hydrogen project in Mauritania

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GreenGo Energy has signed an agreement to develop the Megaton Moon Green Hydrogen Project in Mauritania. The agreement grants GreenGo Energy access to over 100,000 hectares of land near Nouakchott for the project’s development. With this, the company has entered the development phase, which includes detailed site and geotechnical surveys, meteorological data collection, and feasibility studies. The full project capacity will feature 6 GW of electrolysis, 6.8 GW of onshore wind, and 6.3 GWp of…

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Aslan Energy signs MoU to supply hydrogen to CalYan XGH

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Aslan Energy Capital has signed a memorandum of understanding (MoU) to supply 100,000 tonnes per annum (TPA) of sustainable hydrogen to CalYan XGH.  The green hydrogen will be sourced from Aslan Energy Capital’s Aslan Net-Zero Energy Mexico (ANEM) Project, a solar-powered facility in Mexico focused on producing green hydrogen and green ammonia, set to be operational by 2028. The collaboration aims to establish a clean hydrogen supply chain to California. Aslan will manage the delivery…

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Eurus Energy begins commercial operation of Ashikawa Wind Farm

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Eurus Energy Holdings Corporation (Eurus Energy) has commenced the commercial operation of the Ashikawa Wind Farm in Toyotomi Town, Hokkaido. With a capacity of 128.8 MW, this wind farm is part of the larger Dohoku Wind Power Generation Project, which aims to install 107 wind turbines across six wind farms in northern Hokkaido. Dohoku Wind Farm LLC, a group company of Eurus Energy, has completed the construction of the south section of the Ashikawa Wind…

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Adani Green withdraws from two wind projects in Sri Lanka

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Adani Green Energy, part of India’s Adani Group, has decided to withdraw from two proposed wind power projects in Sri Lanka due to financial challenges. The decision follows recent discussions with the Sri Lankan government regarding the reduction of power generation costs. Sri Lanka’s capital, Colombo, had aimed to lower the cost of power to $0.06 per kilowatt hour, down from the initial $0.08. However, Adani Green Energy deemed the projects “financially unviable” in light…

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Global electricity demand to rise 4% annually until 2027

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According to the International Energy Agency (IEA), global electricity demand is projected to grow by 4% each year until 2027, equating to more than Japan’s total consumption. This growth will be primarily offset by the expansion of low-emissions energy sources, such as renewables and nuclear power. Emerging and developing economies will account for 85% of this demand growth, with China leading the charge. China’s power demand is expected to grow at an average rate of…