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esVolta secures $110m tax equity investment for 300MWh energy storage facility

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esVolta has obtained a $110 million tax equity investment from Greenprint Capital Management to fund its 300 MWh Hummingbird battery energy storage project in San Jose, California.  Set for completion in 2025, the project will provide Pacific Gas & Electric with resource adequacy capacity under a long-term contract and deliver fast-response energy and ancillary services to the California Independent System Operator (CAISO) market.  These services are essential for alleviating grid congestion and strengthening the power…

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rPlus Energies secures PPA with Idaho Power for Pleasant Valley Solar 2 project

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Renewable energy developer rPlus Energies has finalized a long-term power purchase agreement (PPA) with Idaho Power for its 125 MW Pleasant Valley Solar 2 facility in Ada County, Idaho.  This project follows the 200 MW Pleasant Valley Solar 1, also under construction, making Pleasant Valley Solar the largest contracted solar facility within the Idaho Power system.  Both projects will supply renewable energy to support Meta’s 100% clean energy goals for its data center in Kuna,…

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Orlen Group secures EIB loan for Poland’s electricity distribution upgrade

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Orlen Group has received a 3.5 billion zlotys ($866.6 million) loan from the European Investment Bank (EIB) to fund a major program aimed at modernizing and strengthening Poland’s electricity distribution network.  The loan, to be disbursed in tranches over three years, will have a repayment period of up to 15 years. The initial tranche of financing is valued at 900 million zlotys. Energa Operator, Orlen’s distribution subsidiary, will lead the project, serving over 3.4 million…

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Six nations join pledge to triple nuclear power by 2050 at COP29

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During the World Climate Action Summit at COP29, six countries—El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria, and Türkiye—endorsed the global commitment to triple nuclear energy capacity by 2050, bringing the total to 31 signatory nations.  Initiated by France with 20 countries at COP28, the pledge underscores nuclear energy’s critical role in limiting global warming to 1.5°C per the Paris Agreement. World Nuclear Association (WNA) Director-General Sama Bilbao y León celebrated the new signatories, emphasizing nuclear energy’s…

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Bureau Veritas acquires Versatec Energy to expand energy sector services

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Bureau Veritas has acquired Versatec Energy, a Netherlands-based technical advisory firm specializing in offshore and onshore energy. Financial terms of the acquisition remain undisclosed.  This acquisition enhances Bureau Veritas’ expertise in technical compliance and industrial risk management within the energy sector, aligning with its LEAP | 28 strategy focused on renewables and low-carbon assets. The integration of Versatec Energy’s experience strengthens Bureau Veritas’ service offerings in oil and gas, nuclear, renewables, and emerging technologies like…

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Oklo signs LOIs with data centres to supply 750MW of low-carbon power

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US-based Oklo, a developer of fast fission power plants, has secured letters of intent (LOIs) to provide up to 750 MW of low-carbon energy to two data centre providers.  Under these LOIs, Oklo will deploy its Aurora powerhouses, which offer scalable solutions of 15 MW and 50 MW units, for direct on-site or nearby power generation in select markets. Oklo’s deployment model aims to reduce reliance on traditional power grids, enhancing grid stability and potentially…

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Capital Dynamics secures £48.5m funding for Scottish onshore wind projects

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Capital Dynamics has obtained £48.5 million ($61.4 million) in funding for its first Scottish onshore wind projects, totaling 193 MW in capacity.  The funding, directed to Capital Dynamics’ Clean Energy UK Fund, was provided by Border to Coast Pensions Partnership, the UK’s largest Local Government Pension Scheme pool.  This investment marks Border to Coast’s initial venture in its UK Opportunities portfolio, focused on financing essential infrastructure to support the UK’s renewable energy goals. Capital Dynamics’…

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NSW approves A$4.8bn Humelink transmission project

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The Minns Labor Government in New South Wales (NSW), Australia, has approved the A$4.8 billion ($3.12 billion) Humelink transmission project, a 365 km infrastructure line designed to deliver renewable energy across southern NSW.  Pending final approval from the Commonwealth Government, construction is set to commence this year, with completion targeted by 2027. The Humelink project is expected to create 1,600 construction jobs and contribute A$6.3 billion in direct and indirect investment to the regional economy. …

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Ramboll completes K2 Management acquisition

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Global engineering firm Ramboll has finalized its acquisition of K2 Management, an engineering consultancy specializing in wind and solar energy.  With this acquisition, K2 Management is now integrated into Ramboll Group, significantly boosting Ramboll’s wind expertise, which has grown at an annual rate of 25% over the past three years. Ramboll’s Global Wind Division, led by Tim Fischer, anticipates full operational integration by the first half of 2025.  The combined wind division now includes over…

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ADB approves USD 311 million loan for Nepal’s T&D infrastructure upgrade

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The Asian Development Bank (ADB) has approved a USD 311 million loan to upgrade electricity transmission and distribution infrastructure in Nepal under the South Asia Subregional Economic Cooperation Electricity T&D Strengthening Project.  Implemented by Nepal Electricity Authority (NEA), the project will modernize energy infrastructure and add solar photovoltaic (PV) generation capacity.  Key initiatives include constructing 290 km of transmission lines across Dailekh–Jumla, New Butwal–Lamahi, Nijgadh–Ramauli, and Teenpiple–Okharpauwa, along with enhancing distribution infrastructure in Karnali and…