Rachel Reeves, the UK’s Chancellor of the Exchequer, delivered Labour’s first budget in over a decade, confirming a rise in the headline tax rate for the oil and gas industry to 78%, one of the highest globally. This tax will also extend until 31 March 2030. The UK Offshore Energies Association (OEUK) warned in September…
S4 Energy, a subsidiary of Castleton Commodities International (CCI) specializing in grid-scale battery energy storage, has acquired Netherlands-based LC Energy’s battery storage platform, LCEGS. This acquisition enhances the energy grid’s resilience by merging LCEGS’ development expertise with S4 Energy’s operational experience. Battery energy storage is crucial for Europe’s decarbonisation goals and grid stability. With increasing…
ACWA Power’s Redstone Concentrating Solar Power (CSP) plant in South Africa has synchronized 50 MW to the national grid, with full capacity expected to reach 100 MW shortly. Developed in collaboration with Herlogas and SEPCOIII, the Redstone CSP is set to deliver clean energy to approximately 200,000 households, significantly curbing carbon emissions. Meanwhile, the Kom…
The Kenya Electricity Transmission Company Limited (KETRACO) has completed a new 132/33 kV substation in Loitoktok, Kajiado County, aimed at improving reliable power delivery to Merrueshi, Loitoktok, and surrounding areas. Alongside this development, KETRACO plans to extend the existing 132/33 kV substation in Sultan Hamud, Makueni County, to further stabilize the regional grid. China Aerospace…
The Moroccan government, alongside Total Energies H2 and partners, has signed a Preliminary Contract for Land Reservation for the ‘Chbika’ project. Total Energies H2—a joint venture between TotalEnergies and EREN Group—and partners, including CIP’s Energy Transition Fund and A.P. Møller Capital’s Emerging Markets Infrastructure Fund, will now proceed with pre-FEED studies. The ‘Chbika’ project aims…
Avangrid Renewables and Invenergy NE Offshore Wind have won two lease areas each in the Gulf of Maine through a US government-led offshore wind lease sale conducted by the Bureau of Ocean Energy Management (BOEM). This sale marks the sixth offshore wind lease under the Biden-Harris administration and the first for commercial floating offshore wind…
UK-based asset manager Intermediate Capital Group (ICG) has partnered with South Korean energy firm ST International (STI) to acquire a 50% stake in Revent Energy, with STI retaining the other half. This collaboration aims to strengthen Revent Energy’s onshore wind development strategy in South Korea, targeting 500 MW of installed capacity by 2029 through project…
Norwegian renewable company Hydro Energi has settled its long-term power purchase agreement (PPA) with Swedish wind farm operator Markbygden Ett. Originally signed in 2017, the PPA was intended to supply 1.65 TWh annually from 2021 to 2039, backing the financing of Markbygden’s onshore wind park in northern Sweden, which had a projected output of 2.2…
Mirion Technologies has been awarded two contracts to provide advanced radiation safety solutions for the UK’s Sizewell C nuclear power station, a 3.2 GW project designed to supply electricity to six million homes. The first contract, granted in October 2024, involves the provision of electrical penetration systems (EPS) for the reactor, ensuring secure cable passage…
NHDC, a subsidiary of NHPC, has commissioned the full 88 MW capacity of the Omkareshwar Floating Solar Power Plant (FSPV) located in the reservoir of the Omkareshwar project in Madhya Pradesh. This project, which went live on October 29, 2024, is expected to generate an annual capacity of 204.58 million units (MUs). The total project…