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China approves $31 billion investment in 11 new nuclear reactors

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China’s State Council has approved the construction of 11 nuclear reactors across five provinces: Jiangsu, Shandong, Guangdong, Zhejiang, and Guangxi. The projects, with a total investment of 220 billion yuan ($31 billion), are expected to be completed in approximately five years. The China National Nuclear Corporation (CNNC) will build the world’s first high-temperature gas-cooled reactor combined with a pressurized water reactor (PWR). In Jiangsu province, CNNC plans to construct two Hualong One PWRs and a…

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ACWA Power starts construction on 200 MW wind and 100 MW battery storage project in Uzbekistan

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ACWA Power has commenced construction on a 200 MW wind power plant and a 100 MW battery energy storage system (BESS) in the Republic of Karakalpakstan, Uzbekistan. The project, valued at $260 million, is a partnership with JSC National Electric Grid of Uzbekistan (NEGU). The Beruniy Wind Power Plant is expected to generate 800 million kWh of clean energy annually, enough to power 292,000 households. The initiative will save 212 million cubic meters of natural…

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EDF Renewables UK to add 300 MW of battery storage

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EDF Renewables UK is set to enhance the UK’s energy infrastructure by introducing 300 MW of battery storage projects.  The company’s six battery storage projects, currently under construction, are expected to be operational by summer 2025. These include a 57 MW site in Braintree, Essex, and a 47.5 MW site in Indian Queens, Saint Austell, Cornwall. A 52 MW battery in Sundon, Bedfordshire, has already been energised, and Dorset Council has approved a 47.5 MW…

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China’s coal stockpiles soar, signalling shift in energy landscape

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China is experiencing a rapid buildup of coal stockpiles, with inventories reaching over 635 million tons by the end of June, up from below 90 million tons during the 2021 electricity supply crisis. This surge, fueled by increased domestic production and imports, may push coal prices lower during the typical autumn slowdown, affecting miners globally. The surge stems from China’s response to the 2021 energy crisis, where coal shortages led to power cuts. In response,…

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ACWA signs PPA for 60 MW Saguling floating solar project in Indonesia

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ACWA Power has signed a power purchase agreement (PPA) with PT Perusahaan Listrik Negara (PLN) for the 60 MW Saguling floating solar photovoltaic (PV) project in Indonesia. This project is part of PLN’s strategy to increase the share of renewables to 23% by 2025. The Saguling project, along with the Singkarak floating solar PV project, represents a combined investment of USD 105 million.

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Origin Energy cancels 204 MW of solar projects due to low expected returns

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Origin Energy has canceled its 74 MW Carisbrook and 130 MW Morgan solar projects, citing anticipated low returns on investment. The decision was revealed in the company’s recent sustainability report, where Origin stated that unfavorable conditions led to the scrapping of these developments. Despite these cancellations, Origin continues to pursue other large-scale renewable energy projects, including the Sailsbury Solar Farm, Dapper Solar Farm, and the Yanco and Yarrabee solar projects. The company remains committed to…

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Australia must invest AUD 3.56 trillion to decarbonize power sector by 2030, says BNEF

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New modeling from BloombergNEF (BNEF) reveals that Australia needs to rapidly decarbonize its power sector to meet its 2050 net-zero goal, requiring an investment of AUD 3.56 trillion ($2.4 trillion) by 2030 and a 135% increase in renewable energy capacity to over 126 GW. BNEF’s New Energy Outlook report emphasizes the urgent need to transform Australia’s energy mix, phasing out all unabated coal and nearly all unabated gas generation by 2035. The country will need…

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Engie secures financing for 250 MW solar project in Victoria, Australia

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Engie has finalized financing for a 250 MW solar power plant at Goorambat East in Victoria, Australia. The project, initially approved in 2019 and acquired by Engie in 2023, will power approximately 105,000 homes when it begins operations in 2026. Located near Goorambat and Benalla, the project will create around 250 local jobs during construction. Engie has partnered with Bouygues Construction Australia and Equans Solar & Storage for the project’s development. The company also committed…

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Sveaskog, Alight partner to develop 2GW of solar energy in Sweden

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Swedish state forest owner Sveaskog has teamed up with solar developer Alight to build 2 GW of solar energy capacity by 2029. The partnership will utilize Sveaskog’s vast land holdings to help address Sweden’s electricity deficit, particularly in the SE3 and SE4 regions, which are currently experiencing shortages. The first phase involves two solar parks: a 150-hectare site in central Sweden and a 70-hectare site in the south. Alight will handle development, construction, and co-ownership,…