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Masdar and Taaleri Energia achieve financial close for Čibuk 2 wind farm in Serbia

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Masdar, in partnership with Taaleri Energia, has reached financial close for the 132 MW Čibuk 2 wind farm in Serbia, securing a €144 million debt facility from UniCredit and Erste (Erste Group and Erste Bank Serbia). The wind farm will power 62,000 households and offset 311,200 tonnes of carbon dioxide emissions annually. The project, developed by Masdar Taaleri Generation in collaboration with Serbian developer New Energy Solutions, will feature 22 Nordex 7 MW turbines. Nordex…

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Nuclear fuel prices surge due to uranium conversion and enrichment bottleneck

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The cost of nuclear fuel has surged in the past two years, primarily due to bottlenecks in uranium conversion and enrichment, exacerbated by the Russian invasion of Ukraine. While the price of raw uranium ore has doubled since early 2022, the prices for converted uranium hexafluoride have soared fourfold to $68/kg, and enriched uranium prices have tripled to $176 per separative work unit, according to UxC data seen by the Financial Times (FT). Russia’s significant…

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Samaiden Group forms JV to expand renewable energy portfolio in Indonesia

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Samaiden Group has entered into a joint venture (JV) with PT MCS Bina Energi to expand its renewable energy operations in Indonesia. The venture, made through Samaiden SG Private Limited, a subsidiary of Samaiden Group, will focus on solar photovoltaic systems, power plants, and build-own-operate-transfer projects. Samaiden holds a 70% stake in the JV, while MCS holds 30%. Samaiden will contribute technical expertise, while MCS will leverage its local business and regulatory knowledge.

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Engie signs CPPA for 325MW C-Power wind farm in Belgium

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Engie has signed a corporate power purchase agreement (CPPA) with Atlas Copco Airpower to supply clean energy from its 325 MW C-Power offshore wind farm in Belgium. The agreement will enable Atlas Copco Airpower to partially power its smart factory in Wilrijk with wind energy from the North Sea, helping the company advance its sustainability goals. Atlas Copco aims to reduce its operational emissions by 46% by 2030. This PPA, the company’s first with Engie,…

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NKT completes cable repair at Gemini wind farm, restoring 600 MW capacity

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NKT has completed cable repair works at the 600 MW Gemini wind park offshore the Netherlands. The wind farm, which supplies renewable energy to 900,000 households, experienced a cable failure in the summer of 2024, impacting one of the export cables connecting it to the mainland. The repair process, essential to minimize financial losses and restore energy output, involved complex subsea jointing operations. NKT’s rapid response helped bring the wind park, predominantly owned by Northland…

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Potential 10 billion tonne emission reduction from COP28 climate goals: IEA report

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The International Energy Agency (IEA) has released a report, From Taking Stock to Taking Action, outlining that the climate targets established at COP28 could reduce global greenhouse gas emissions by 10 billion tonnes (bt) by 2030. These targets include tripling renewable energy capacity and doubling energy efficiency by 2030, with a broader goal of achieving net-zero emissions from the global energy sector by 2050. Jonathan Maxwell, CEO of Sustainable Development Capital, praised the focus on…

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Hitachi Energy invests $155 million in North American manufacturing

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Hitachi Energy has announced plans to invest an additional $155 million into its North American manufacturing operations, including the construction of a new distribution transformer factory in Reynosa, Mexico, and expansions at existing facilities in South Boston, Virginia, and Mount Pleasant, Pennsylvania. This move is part of the company’s broader strategy to address surging demand for electrical equipment in the region. The $70 million facility in Reynosa will focus on producing single-phase padmount distribution transformers,…

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GE Vernova secures five onshore wind deals in Spain

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GE Vernova has signed five agreements to supply its 6.1 MW turbines with 158-meter rotors for onshore wind projects across Spain. The company will supply and commission 16 turbines to two wind farms in Castilla León—eight for Casa Vieja and eight for Pedrejones. Deliveries are scheduled to begin at the end of 2024. In addition, GE Vernova will upgrade the Les Colladetes wind farm in Catalonia, installing eight turbines for Enervent, and will supply five…

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PLN outlines strategy for energy transition, targets net zero by 2060

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PT Perusahaan Listrik Negara (PLN) has detailed its energy transition strategy at the Indonesia International Sustainability Forum 2024, focusing on achieving net zero emissions by 2060. PLN emphasized its commitment to the energy trilemma—reliability, affordability, and sustainability—and called for global collaboration on climate change solutions involving strategy, technology, and investment. PLN’s energy transition roadmap, first introduced in its 2021-30 electricity supply business plan, targets 52 per cent renewable energy. The company is now accelerating its…

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Encavis and Innovar Solar partner to develop 500 MW of solar capacity in Germany

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Encavis AG and Innovar Solar GmbH have entered into an agreement to jointly develop 500 MW of solar projects in Germany. The agreement follows a continuous development model, ensuring that new projects are initiated as existing ones advance. If any projects fail to reach the ready-to-build stage within a set timeframe, they will be replaced by new ones to maintain the target capacity. Earlier this year, Encavis also expanded its renewable portfolio by acquiring a…