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Solarvest signs five green power agreements to supply solar energy in Malaysia

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Solarvest Holdings Bhd has signed five Corporate Green Power Agreements (CGPAs) in Malaysia through two joint ventures to supply solar energy. These agreements involve a multi-asset exchange, two global semiconductor manufacturers, and a data centre service provider. The deals were established with Savelite Engineering Sdn Bhd and TNB Renewables Sdn Bhd. The agreements will support the development of two solar power plants in Lumut, Perak, and Kulim, Kedah, with a combined capacity of 59.98 MW….

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OECD electricity production rises 3.7%, driven by solar power surge, renewable growth

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In May 2024, total net electricity production in the OECD reached 854.4 TWh, marking a 3.7% increase compared to the same month last year, according to the IEA Monthly Electricity Statistics. This growth was primarily driven by a strong increase in renewable energy generation, which rose by 6.6% year-on-year (y-o-y). Solar power saw the most significant growth, surging by 19.7% y-o-y, while wind power also contributed with a 5.8% y-o-y increase. Hydropower generation remained largely…

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Indonesia targets $25.2 billion in private investment for green hydrogen by 2060

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Indonesia is aiming to attract $25.2 billion in private investment for the development of green hydrogen by 2060, according to the Ministry of Industry. This initiative is part of the country’s strategy to prevent an energy crisis in the industrial sector and support its ambitious goal of reducing carbon dioxide (CO2) emissions by 912 million tons by 2030, as reported by Xinhua news agency. Pertamina, Indonesia’s state-owned oil and gas company, is a major player…

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US solar panel makers seek retroactive duties on Vietnam, Thailand amid surge in imports

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A group of US solar panel manufacturers has requested the Commerce Department to impose retroactive duties on imports from Vietnam and Thailand, citing a surge in shipments from these countries amid ongoing investigations into alleged unfair trade practices. The probe, initiated by the Commerce Department in May, targets silicon solar cells and panels made in Vietnam, Thailand, Malaysia, and Cambodia. The investigation focuses on accusations that these products were sold in the US at excessively…

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Vestas wind turbine order backlog reaches 27 GW, valued at €28.1bn, in Q2 2024

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Vestas reported an increase in its wind turbine order backlog, reaching 27 GW and valued at €28.1 billion by the end of Q2 2024, up from approximately 20GW and €20 billion in Q2 2023. This growth reflects strong offshore order intake in Poland and Germany, along with robust onshore orders in the USA. The average selling price per MW rose from €1.04 million in Q2 2023 to €1.21 million in Q2 2024. Despite a 3.9%…

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Queensland, Rio Tinto partner to secure Boyne Smelter’s future, boost renewable energy

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The Queensland Government has partnered with Rio Tinto to secure the future of Boyne Smelters Limited (BSL), Australia’s second-largest aluminium smelter, while advancing renewable energy investments. This collaboration aims to transform Gladstone into a renewable energy hub and stabilize the state’s electricity grid as Australia transitions to cleaner energy sources. Economic support will ensure BSL’s financial viability as it transitions to renewable energy from 2029. Rio Tinto’s investment will maintain BSL’s 500,000-tonne annual production capacity…

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Birch Creek commissions 42 MW Altona Solar project in Missouri

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St. Louis-based Birch Creek Energy has finalized financing and commenced full operations of Altona Solar, a 42 MW utility-scale project in Audrain County, Missouri. The project, which spans 208 acres and connects to Ameren Missouri, generates enough clean energy to power over 6,300 homes. Altona Solar is part of Birch Creek’s independent power producer (IPP) strategy, which also includes the recently completed 49 MW Earp Solar project in Illinois. Max Whitacre, Executive Vice President of…

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Oklo partners with Siemens Energy to enhance nuclear power technology with advanced fission

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Oklo, a California-based clean power technology company specializing in nuclear fuel recycling, has entered into a preferred supplier agreement with Germany’s Siemens Energy. This partnership is aimed at supplying power conversion systems for Oklo’s Aurora powerhouse, aligning with Oklo’s objective to efficiently market advanced fission technology. This agreement, building on a previous memorandum of understanding, marks a significant milestone for Oklo, enhancing its ability to scale production, improve cost efficiency, and expedite deployment in response…

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UK Crown Estate launches second phase of Celtic Sea floating wind farm leasing round

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The UK’s Crown Estate has initiated the second phase of its offshore wind leasing round 5, focusing on the development of floating wind farms in the Celtic Sea. This phase, which began on 8 August 2024, invites bidders to submit detailed plans for the construction of wind farms and their potential socio-economic contributions to coastal communities in South Wales and southwest England. The advancement to this phase was made possible by comprehensive environmental assessments conducted…

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SUSI Partners to fund 860 MW battery energy storage portfolio in Chile

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Swiss investment firm SUSI Partners has announced its agreement to fund the development of a significant battery energy storage portfolio in central-southern Chile through its SUSI Energy Transition Fund (SETF). The investment will support 22 battery energy storage projects, targeting a total capacity of 860 MW and up to 3.5 GWh. This initiative marks an expansion of SUSI’s collaboration with local developer BIWO Renovables, further strengthening their ongoing partnership in Chile’s renewable energy sector. The…