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Acadia leads $9bn renewable energy initiative with Microsoft

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US-based investor Acadia Infrastructure Capital, along with major companies including Microsoft, has launched a $9 billion initiative to develop renewable energy projects across the United States.  The initiative, known as the Climate and Communities Investment Coalition (CCIC), aims to accelerate corporate-led financing for renewable energy projects and is expected to facilitate the development of 5GW of renewable power by 2029. The CCIC will focus on providing tangible benefits to local communities, including affordable clean energy…

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Solar Landscape raises $847 million for rooftop solar projects

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Solar Landscape, a US-based commercial and community solar developer, has raised $847 million in project investment and financing in 2024.  This funding will support the deployment of over 200 rooftop solar installations across the country.  Additionally, the company has secured contracts for developing solar projects on 40 million square feet of commercial and industrial rooftop space. The financing was raised through partnerships with 10 investors and counterparties, including KeyState Renewables, Silicon Valley Bank, Prologis, and…

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Technip Energies and GE Vernova secure Net Zero Teesside power project

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Technip Energies, GE Vernova, and Balfour Beatty have been awarded the engineering, procurement, and construction contract for the Net Zero Teesside Power (NZT Power) project, the world’s first gas-fired power plant with carbon capture and storage (CCS). The UK government’s £21.7 billion ($13.87 billion) funding for carbon capture initiatives enabled the project’s financial close. The plant aims to generate 742MW of low-carbon electricity, enough to power one million UK homes, while capturing up to 2…

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Intersect Power, Google, and TPG Rise Climate to build clean energy

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Intersect Power has partnered with Google and TPG Rise Climate to co-locate renewable energy infrastructure with data centres, aiming to meet the growing demand for clean power while reducing reliance on long-distance transmission. The initiative plans a $20 billion investment in renewable energy and storage by 2030, focusing on enhancing speed of deployment, grid reliability, and energy affordability.  Google will act as the primary offtaker for renewable energy generated at new data centre campuses located…

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Nextracker delivers first 100% US-manufactured solar trackers under IRA

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Solar tracker provider Nextracker has announced the delivery of its first US-manufactured solar trackers, achieving 100% domestic content value under the Inflation Reduction Act (IRA). This marks a key advancement in localizing the US solar supply chain. The trackers will be used in SB Energy’s 570MW Pelican’s Jaw solar project, which includes 954 megawatt-hours (MWh) of energy storage.  The project, under construction by SOLV Energy, highlights the benefits of local manufacturing in reducing supply chain…

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Recurrent Energy secures PPA for 300MW solar project in Spain

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Canadian Solar subsidiary Recurrent Energy has signed a ten-year power purchase agreement (PPA) with a US-based technology company for renewable energy from its Tordesillas solar photovoltaic (PV) project in Valladolid, Castilla y León, Spain. The 300MW project, expected to be operational by 2026, will generate 620 gigawatt hours (GWh) annually, powering 188,000 households and reducing CO₂ emissions by 161,000 tonnes annually.  Recurrent Energy plans to retain ownership and operation of the solar facility upon energization….

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SSEN Transmission plans £22bn investment for 2026-2031

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SSEN Transmission, a subsidiary of SSE, plans to invest at least £22 billion ($28 billion) in grid infrastructure between April 2026 and March 2031.   The proposed investment aligns with the Revenue = Incentives + Innovation + Outputs (RIIO) framework established by energy regulator Ofgem.  SSEN Transmission has submitted its business plan, emphasizing the need for an investable framework with appropriate financial returns to support the unprecedented scale of decarbonization efforts. The company has also outlined…

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California Resources partners with Net Power for low-carbon power projects

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California Resources Corporation (CRC), its carbon management arm Carbon TerraVault (CTV), and Net Power have signed a memorandum of understanding (MoU) to advance low-carbon energy solutions in California.  The collaboration aims to integrate Net Power’s ultra-low emission power plants with CTV’s carbon capture and storage (CCS) infrastructure. The partnership will conduct feasibility studies to assess placing Net Power’s modular plants near CTV’s underground storage sites. This is expected to cut CO₂ transportation costs and enable…

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EU approves €2.6bn support for Estonia’s offshore wind sector

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The European Commission (EC) has approved a €2.6 billion ($2.7 billion) scheme to support Estonia’s offshore wind energy sector, advancing the country’s goal of achieving net-zero emissions.  This initiative, aligned with the Estonian Maritime Spatial Plan, will fund the construction and operation of offshore wind farms through a competitive bidding process. The scheme, part of the State Aid Temporary Crisis and Transition Framework (TCTF), is open until December 2025 and provides aid for 20 years…

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Davidson Kempner and NIC acquire Greencells’ solar and storage platform

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Davidson Kempner Capital Management and Nature Infrastructure Capital (NIC) have jointly acquired Greencells Group’s Netherlands-based solar and storage project development platform.  The platform specializes in utility-scale solar and battery projects across Europe and Canada, with a development pipeline of 4 GW. Financial details of the acquisition have not been disclosed. The platform has grown significantly since 2019, now boasting nearly 800 MW of ready-to-build projects.  Under the new ownership, the platform aims to accelerate its…