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JBIC signs loan agreements with ADNOC for renewable energy and decarbonisation projects

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The Japan Bank for International Cooperation (JBIC) has signed two project loan agreements with Abu Dhabi National Oil Company (ADNOC), totalling approximately $341 million and $130 million under a credit line established in July 2024. The loans are co-financed by Mizuho Bank Limited, Sumitomo Mitsui Banking Corporation, MUFG Bank, Limited, and The Hongkong Shanghai Banking Corporation Limited, Tokyo Branch, raising the total financing to $569 million and $217 million, respectively. These loans, part of JBIC’s…

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Afghanistan and Uzbekistan sign agreement for power transmission projects

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The minister of mines and petroleum of Afghanistan and the energy minister of Uzbekistan have signed an agreement to implement four major electricity transmission projects, strengthening economic and trade ties between the two nations. This agreement is part of several memorandums of understanding, including investment agreements worth USD 1.4 billion and 23 trade agreements valued at USD 1.1 billion. Key projects in the power transmission agreement include: Construction of a 260-km, 500 kV Surkhan (Uzbekistan)–Pul-e-Khumri…

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Lhyfe signs five-year deal with H2 MOBILITY for green hydrogen supply in Germany

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Lhyfe has entered a five-year agreement with H2 MOBILITY Deutschland to supply green hydrogen for the transport sector. Initial deliveries will target four H2 MOBILITY fuel stations in Baden-Württemberg and Rhineland-Palatinate, starting with locations in Ludwigshafen and Frankenthal. The hydrogen, classified as Renewable Fuels of Non-Biological Origin (RFNBO), will be generated from renewable power sources at Lhyfe’s upcoming production site in Schwäbisch Gmünd. In addition to its German partnership, Lhyfe is collaborating with OX2 and…

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IDBZ approves 5 MW Gutu Solar Power Project in Zimbabwe

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The Infrastructure and Development Bank of Zimbabwe (IDBZ) has approved the development of a 5 MW Gutu Solar Power Generation Plant. Under the agreement, IDBZ will fund the project, while the Gutu Rural District Council (GRDC) is providing the land under a 25-year lease agreement approved in October 2023. GRDC has already initiated site preparation, including land clearing, road construction, and fencing. The Ministry of Finance, Economic Development & Investment Promotion, with support from the…

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UK unveils £5.5bn subsidy scheme for Sizewell C nuclear power plant

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The UK Energy Security Department and Net Zero (DESNZ) have announced a new £5.5 billion subsidy scheme to support the Sizewell C nuclear power plant (NPP) through to its final investment decision (FID).  The announcement comes after a review by the Competition and Markets Authority to ensure the Devex scheme’s compliance with the Subsidy Control Act 2022. This new scheme operates independently from the existing SZC Investment Funding Scheme, which was launched following the government’s…

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RWE installs offshore converter platform at 1.4 GW Sofia wind farm

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RWE has installed a high-voltage direct current (HVDC) offshore converter platform (OCP) at the 1.4 GW Sofia offshore wind farm in UK waters. This technology is crucial for converting high-voltage alternating current (HVAC) to HVDC, enabling efficient energy transmission. The project remains on track to be fully operational by 2026, providing enough electricity to power 1.2 million UK homes. The OCP, which took over two and a half years and more than 13 million hours…

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Biden Administration to auction offshore wind areas off Oregon coast

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The Biden Administration has announced plans to auction two areas totalling 194,995 acres (789 km²) off the coast of Oregon for offshore wind development. The U.S. Department of the Interior (DOI) states that these areas could generate over 3.1 GW of clean energy, enough to power about one million households. The auction is scheduled for October 15, 2024, marking the administration’s sixth leasing round and second in deep Pacific Ocean waters. The two sites, located…

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Trump’s campaign vows to overturn Biden’s clean energy policies if elected

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Donald Trump’s presidential campaign announced plans to scrap many of President Biden’s clean energy initiatives if Trump is re-elected. The campaign aims to eliminate regulations on power plants and transportation emissions, and fast-track approvals for new power plants to meet growing electricity demands. David Bernhardt, Trump’s former Interior Secretary, stated that Trump would authorize the construction of hundreds of new power plants and withdraw the U.S. from the Paris Climate Agreement. He criticized Biden-Harris policies…

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NKT secures order from Elia Transmission Belgium for 545 km high-voltage cables

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Danish cable manufacturer NKT has secured an order from Belgian transmission system operator Elia Transmission Belgium (ETB) to supply 545 km of high-voltage cables for grid upgrades. This order falls under an existing framework agreement between NKT and ETB, building on a recent 72km cable supply deal. ETB, part of the Elia Group, manages Belgium’s high-voltage transmission grid, which includes 9,000km of overhead lines and underground cables crucial for the country’s electricity distribution. The power…

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Georgia Power announces locations for four new battery energy storage projects

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Georgia Power has revealed the locations for four new battery energy storage system (BESS) projects in Georgia, with a combined capacity of 500 MW. These projects are set to provide dispatchable power resources by the winter of 2026/2027, as part of the state’s strategy to enhance grid reliability and cost-efficiency. The Georgia Public Service Commission approved these sites in 2024 under Georgia Power’s 2023 Integrated Resource Plan (IRP) Update. The planned BESS facilities include: Robins…