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Grenergy to acquire 1GW solar portfolio in Chile for $128m

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Spain-based Grenergy Renovables plans to acquire a 1GW solar portfolio in Chile for $128 million from Repsol and Grupo Ibereolica Renovables. The deal includes a 77MW photovoltaic (PV) plant, 923MW of projects under development, and a 1GW operational interconnection facility. This acquisition will bolster the Oasis de Atacama solar-plus-storage project by adding two new phases, expanding it to a five-phase development across Chile’s Tarapaca, Antofagasta, and Atacama regions. The project’s battery storage capacity will increase…

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EDF Renewables signs PPA with OPPD for 300 MW Milligan 1 Wind project

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EDF Renewables North America has entered a 20-year power purchase agreement (PPA) with Omaha Public Power District (OPPD) to supply clean energy from its 300MW Milligan 1 Wind project in Nebraska. Operational since 2021, Milligan 1 is owned and developed by EDF Renewables. OPPD President Javier Fernandez highlighted the project’s role in diversifying and expanding OPPD’s energy portfolio, which will help meet the growing electricity demand in Nebraska. OPPD aims to add 3.2 GW of…

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US DOE allocates over $3 billion for battery manufacturing projects across 14 states

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The US Department of Energy (DOE) has allocated more than $3 billion to fund 25 projects aimed at enhancing battery manufacturing capabilities across 14 states. These projects are part of the Biden-Harris Administration’s Investing in America initiative and are designed to increase domestic battery material production, align with EV tax credit rules, and reduce reliance on China. The investment, managed by the Office of Manufacturing and Energy Supply Chains (MESC), will generate over 8,000 construction…

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Alight secures €110m financing for 220 MW solar parks in Sweden

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Swedish solar independent power producer Alight has secured €110 million in senior debt financing from Dutch bank Rabobank to develop, own, and operate 220 MW of small to medium-sized solar parks across Sweden. This portfolio financing, a first-of-its-kind in the Nordic region, will accelerate the renewable energy transition as Sweden faces rising electricity demand. The first phase includes constructing three solar parks: a 4MW park in Halland, a 6 MW park in Södermanland, and a…

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rPlus Energies begins construction on $1 billion Green River solar and storage project in Utah

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rPlus Energies has started construction on the Green River Energy Center, a major solar photovoltaic (PV) and battery storage project in eastern Utah. The project includes a 400MW solar PV facility paired with a 400MW/1,600MWh battery storage system, making it one of the largest solar-plus-storage projects in the US. The project, supported by over $1 billion in construction debt financing, will provide clean energy to PacifiCorp under a power purchase agreement (PPA). It is expected…

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Fossil fuels to supply 40-60% of energy by 2050 despite clean energy push: McKinsey

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A McKinsey report reveals that fossil fuels will continue to provide 40-60% of global energy by 2050, due to slower adoption of electric vehicles (EVs) and challenges in scaling clean energy technologies. Gas will remain a key energy source, stabilizing grids as renewables, though growing, are intermittent. Despite fossil fuel consumption plateauing between 2025 and 2035, investments will persist to ensure energy reliability during the transition. Global energy demand is set to rise by up…

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NEA to publish cost study of Sweden’s energy and electricity system

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The Nuclear Energy Agency (NEA) and the Swedish Government have announced a collaboration on a cost study of Sweden’s electricity and energy system. The study aims to explore the cost implications of various policy decisions and energy strategies under stringent carbon constraints, with the final report expected by the end of 2025. The announcement was made at the Roadmaps to New Nuclear 2024 conference in Paris, where NEA director-general William D. Magwood IV expressed hope…

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ADB approves $500 million loan to accelerate Indonesia’s energy transition

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The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support Indonesia’s shift towards sustainable energy. This loan, part of the Affordable and Sustainable Energy Transition Program, aligns with Indonesia’s goal to meet its enhanced nationally determined contribution and reach net zero power emissions by 2050. This first tranche of a two-part program aims to facilitate the country’s transition from fossil fuels to cleaner energy by developing a regulatory framework, improving sector…

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SLB expands partnership with NVIDIA to develop generative AI solutions for energy sector

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Energy technology company SLB has deepened its partnership with NVIDIA to develop generative AI solutions tailored to the energy industry. The collaboration will integrate industry-specific generative AI models into SLB’s platforms, such as the Delfi digital platform and the Lumi data and AI platform, to enhance data management and technical processes in energy production and exploration. The partnership will utilize NVIDIA’s NeMo from the AI Enterprise suite to create custom generative AI solutions that operate…

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Czech nuclear deal will go ahead despite controversy, South Korean President says

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South Korean President Yoon Suk Yeol has expressed confidence in moving forward with a multibillion-dollar project to build a nuclear plant in the Czech Republic, despite legal challenges from EDF and Westinghouse. In an interview with Reuters, President Yoon reassured that there is no need for concern over the project. In July, the Czech Government selected Korea Hydro & Nuclear Power (KHNP) to build two reactors, marking South Korea’s first major overseas nuclear order since…