|

GE Vernova plans $600 million investment in US factories

By

GE Vernova, an American energy manufacturer, plans to invest nearly $600 million in its US facilities by 2027 to address growing global electricity demands. The investment is for improving energy affordability, national security, and global competitiveness. The investments are part of a $9 billion global capital expenditure and R&D plan announced in December 2024. Key investments include: $300 million for the gas power business to expand heavy-duty gas turbine manufacturing, with plans to produce up…

|

Enfinity Global expands Texas battery storage with 425 MW projects

By

  Enfinity Global Inc. has announced the expansion of its battery energy storage systems (BESS) portfolio with two new projects in Texas, totalling 425 MW of power capacity and 850 MWh of storage.  Construction is set to begin in the second and fourth quarters of 2025. These projects increase Enfinity’s U.S. BESS pipeline to 6.6 GW and align with its investment of over $7 billion, expected to create more than 5,000 construction jobs in the…

|

On.Energy secures funding for 160 MWh battery storage in Texas

By

  On.Energy has closed construction credit facilities with Pathward and BridgePeak Energy Capital to develop its 160 MWh Palo de Agua battery storage portfolio in Texas.  The financing supports On.Energy’s expansion in the United States, adding to its 80 MWh of operational assets in Houston and a pipeline of over 2 GWh of battery storage set for activation by 2028 across California, Texas, and Mexico. CEO Alan Cooper highlighted that the company has structured project…

|

Germany’s wind power shortfall drives up Europe’s energy prices

By

  Germany, Europe’s largest wind power producer, is experiencing its most prolonged period of below-average wind power generation since early 2021, as reported by Reuters.  This shortfall is attributed to low wind speeds since October 2024. Wind power, which is Germany’s primary electricity source, typically peaks in winter when wind speeds are highest. The reduced output has forced Germany to rely more on fossil fuels and increase power imports, raising regional power prices across Europe….

|

MSIG Asia and The RiskPoint Group partner to enhance APAC RE insurance

By

MSIG Asia and The RiskPoint Group have teamed up to strengthen renewable energy (RE) insurance in the Asia Pacific region.  With approval from the Monetary Authority of Singapore, RiskPoint will serve as MSIG Singapore’s Managing General Agent.  This partnership will leverage Singapore’s role as an insurance hub to provide tailored coverage for solar, wind, and hydroelectric projects. By combining MSIG’s regional network and financial strength with RiskPoint’s underwriting expertise, the partnership aims to address key…

|

Ørsted and PGE reach FID for Baltica 2 offshore wind farm in Poland

By

Ørsted and Polska Grupa Energetyczna (PGE) have made the final investment decision (FID) for the 1.5GW Baltica 2 offshore wind farm off the Polish coast.  The wind farm is expected to be fully commissioned by the end of 2027. Developed in a 50/50 partnership, Ørsted and PGE will be responsible for the entire project, including offshore transmission and substations. The project will feature 107 Siemens Gamesa 14 MW-222 turbines, with installation services from Cadeler and…

|

Mission 300 Initiative secures over $8bn in funding

By

The Mission 300 initiative, aimed at providing electricity to 300 million Africans by 2030, has raised more than $8bn in funding commitments during the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, held from 27 January to 28 January 2025, as reported by Reuters.  The summit was hosted by the United Republic of Tanzania, the African Union, the African Development Bank Group (AfDB), and the World Bank Group. Launched in April 2024 by…

|

Sri Lanka to renegotiate wind PPA with Adani Green Energy

By

The government of Sri Lanka plans to renegotiate the power purchase agreement (PPA) with India’s Adani Green Energy for a 484MW wind power project, to reduce the cost to below $0.06 per unit, according to the Press Trust of India (PTI).  The previous government had signed a 20-year PPA for the project at 8.2 US cents per unit, a decision that was contested as local bidders had proposed lower prices. Sri Lankan government spokesman Nalinda…

|

JUWI Renewable to begin construction on solar projects in South Africa

By

JUWI Renewable Energies will commence construction on three major private solar projects in South Africa, with a combined capacity of 340 MW and investments exceeding $320 million.  The projects will serve key players in the mining, data centre, and energy sectors, including Glencore, Teraco, Sasol, and Air Liquide. Together, the projects will generate over 1 million MWh of clean energy annually. The facilities include a 120 MW solar PV plant for Teraco Data Centres, a…

|

EU to provide €30m aid to Moldova for energy crisis relief

By

The EU will offer €30m ($31.4m) in emergency assistance to Moldova, including the separatist Transnistrian region, until 10 February 2025.  The aid follows Russian gas supplier Gazprom’s failure to deliver natural gas, leaving over 350,000 people without electricity and heating. Moldova declared a 60-day national state of emergency starting 16 December 2024 due to expected gas cuts. The package will support electricity restoration and explore coal deliveries from Ukraine. It also includes assistance for electricity…