Global

Fotowatio Renewable Ventures (FRV) Australia, owned by Saudi Abdul Latif Jameel Energy and Canadian pension fund Omers, announced an AUD 1.2 billion refinancing of its Australian renewable energy portfolio, which includes about 1 GW of operating and under-construction assets.  The financial transaction involves refinancing its entire portfolio of eight large-scale solar farms. These include the 125 MW Lilyvale and Dalby projects in Queensland, the 106 MW Winton Solar Farm in Victoria, the 69.75 MW Goonumbla,…

The European Commission has launched the second cross-border tender under the EU Renewable Energy Financing Mechanism (RENEWFM). This call, open until March 4, 2025, aims to support the construction of ground-mounted solar projects in Finland and onshore wind projects in Estonia. The projects, managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA), are expected to be commissioned within two to three years. Luxembourg is contributing EUR 52.4 million to this tender. An information…

TotalEnergies is set to acquire SN Power from Scatec, gaining a 28.3 per cent stake in Uganda’s 250 MW Bujagali hydropower plant, which supplies over 25 per cent of Uganda’s peak electricity demand. The deal also includes stakes in hydropower projects in Rwanda (260 MW) and Malawi (360 MW). This acquisition, managed through a joint venture (JV) with Norfund and British International Investment, aligns with TotalEnergies’ strategy to support Africa’s energy transition. The company aims…

Rolls-Royce’s small modular reactor (SMR) has passed Step 2 of the UK’s Generic Design Assessment (GDA), progressing to the final phase. This evaluation ensures nuclear designs meet safety, security, and environmental standards. Rolls-Royce’s SMR aims to be the first new UK-designed nuclear power station in decades, generating low-carbon electricity for one million homes over 60 years. The project is part of the Great British Nuclear SMR selection process. Rolls-Royce also partnered with the University of…

American utility AES Corporation has launched Maximo, an AI-enabled robot designed to enhance the speed, efficiency, and safety of solar panel installations. Maximo, which collaborates with on-site crews, halves installation time and costs. It uses AI-powered computer vision for precise panel placement and has a proprietary AI pipeline for image reconstruction. Successfully deployed across US projects, Maximo will be used in the 2GW Bellefield project in California and has already been used at the Oak…

The Hanford site, a former nuclear production complex in Washington state, is set for a transformation into a 1GW solar farm. This project, part of the US Department of Energy’s (DOE) Cleanup to Clean Energy initiative, will be executed in partnership with Hecate Energy.  Established in 1943 for the Manhattan Project, Hanford’s nuclear reactors were decommissioned in 1960, with extensive cleanup beginning in the 1980s. Now safe, the site is ready for redevelopment, including solar…

Mirova Gigaton Fund has committed USD 20 million in long-term debt financing to ManoCap Energy, a commercial and industrial (C&I) solar company based in Ghana, to support its expansion in West Africa. The funding will support ManoCap in consolidating its operations in Ghana and Sierra Leone and facilitate expansion into neighbouring countries such as Nigeria, Ivory Coast, Guinea, Liberia, and Togo.

JinkoSolar has formed a joint venture (JV) with a subsidiary of Saudi Arabia’s Public Investment Fund (PIF) and Vision Industries Company (VI) to establish a new factory in NEOM’s Oxagon city. This USD1 billion investment aims to pioneer digitalization and sustainability by producing 10 GW of TOPCon solar cells and modules annually. Slated for completion in 2026, the facility will be powered entirely by green energy and is expected to set a benchmark with the…

The governments of India and Saudi Arabia discussed various opportunities for bilateral investments in diverse areas in the public and private sectors, including refining and petrochemical plants, new and renewable energy, and power. They reviewed measures aimed at promoting two-way investments in a mutually beneficial manner at the first meeting of the India-Saudi Arabia High-Level Task Force on Investments.