Global power sector: key recent developments

Russia revises lunar roadmap, plans nuclear power plant on Moon
At a major Russian space conference, officials outlined a revised lunar programme after the 2023 Luna-25 failure. The updated schedule prioritises Luna-26 in 2028, Luna-27A in 2029, Luna-27B in 2030, and Luna-28 in 2034. A central objective is deploying a small nuclear power plant on the Moon in the 2030s for the International Lunar Research Station. The programme is led by Roscosmos with China, with the Lavochkin Institute as the main Russian contractor.

Saudi Arabia, Türkiye sign deal for 5,000 MW solar projects
Saudi Arabia and the Republic of Türkiye signed an intergovernmental agreement covering renewable energy cooperation. The agreement includes up to 5,000 MW of solar capacity in Türkiye, to be developed in two phases. Phase one covers 2,000 MW in Sivas and Karaman, while phase two adds 3,000 MW under jointly agreed frameworks. The first phase represents around $2 billion in investment and will supply electricity to more than two million households.

Iberdrola secures €44 million for 160 MW BESS projects in Poland
Iberdrola Renewables Polska has secured about €44 million to develop three battery energy storage system projects in Poland. The funding was provided by the Polish National Fund for Environmental Protection and Water Management. The projects total 160 MW, with sites in Mazovia and Lower Silesia. Iberdrola’s renewable portfolio in Poland now totals 940 MW, including around 12 BESS projects.

Germany to close Welzow-Süd lignite mine by 2030
Mining at the Welzow-Süd lignite mine in eastern Germany will end in 2030, three years earlier than planned. Operator LEAG cited rapid wind and solar expansion, which has made coal production economically unviable. Authorities said the early closure will not compromise supply security. Germany’s national coal exit remains legally set for 2038, with a federal assessment due by August 2026.

CAPE Holland wins foundation tool contract for Taiwan wind farm
CAPE Holland, part of the Venterra Group, won a contract with CDWE for Taiwan’s 500 MW Fengmiao Offshore Wind Farm. The company will supply its VLT-640 Tandem Vibro Lifting Tool to pre-install heavy foundation and substation piles. The site is located 36 kilometres off Taichung. The tool has previously installed over 400 piles in Taiwan without incident.

Envision Energy to supply 128 MW of turbines for Vietnam projects
Envision Energy signed a wind turbine supply agreement with REE Group for nearshore projects totalling 128 MW in Vietnam’s Vinh Long province. The portfolio includes the V1-3 Phase II project and the V1-5 and V1-6 Phase II projects. Sixteen EN-226/8.X MW turbines will be deployed. Full grid connectivity is targeted by October 2026.

Germany to buy 25.1% stake in TenneT Germany for €3.3 billion
The German government, through KfW, will acquire a 25.1% stake in TenneT Germany for €3.3 billion. The deal aims to strengthen financing for grid expansion and offshore wind connections. It follows a €9.5 billion investment from institutional investors. The transaction is expected to close by mid-2026, subject to approvals.

Meta signs 176 MW Texas solar deal with Zelestra
Meta signed an agreement with Zelestra for the 176 MW Skull Creek Solar Plant in Texas. The project is part of a broader partnership covering about 1.2 GW across seven US solar projects. The first project, the 81 MW Jasper County Solar in Indiana, is already operational. All projects are scheduled to be online by 2028.

Schroders Greencoat to acquire 283 MW UK solar portfolio
Schroders Greencoat agreed to acquire a 283 MW UK solar portfolio from METLEN Energy & Metals. The portfolio includes seven projects across England and Scotland, with completion expected by mid-2026. Once operational, the projects will power about 89,000 homes. The deal follows a similar acquisition completed in 2024.

China commissions 1 GW high-altitude solar plant in Sichuan
Yalong River Hydropower Development Company commissioned the 1 GW Suorong solar farm in Sichuan province. Located at around 4,600 metres, it is the world’s third-highest solar installation. The project is integrated with hydropower assets totalling about 21 GW. China added 278 GW of solar capacity in 2024, reaching 888 GW in total.

RWE signs 110 MW offshore wind PPA with Amazon in Germany
RWE signed a 110 MW power purchase agreement with Amazon for the Nordseecluster B offshore wind farm. The power will come from the 900 MW second phase, scheduled to operate from 2029. The agreement expands a partnership formed in mid-2025. Amazon’s contracted renewable capacity in Germany now exceeds 790 MW.

Nordex to supply 189 MW of turbines for Swedish wind farm
Nordex Group received an order from OX2 to supply 27 turbines for the Fageråsen Wind Farm in Sweden. The order totals 189 MW and includes N163/6.X turbines with anti-icing systems. Deliveries will start in 2026, with operations from spring 2028. The project is located in the Dalarna region.

Ørsted sells European onshore renewables business for $1.69 billion
Ørsted agreed to sell its European onshore renewables business to Copenhagen Infrastructure Partners for about $1.69 billion. The portfolio exceeds 800 MW across Ireland, the UK, Germany, and Spain. The sale completes Ørsted’s divestment programme and sharpens its focus on offshore wind in Europe. The transaction is expected to close in the second quarter, subject to approvals.

Prysmian wins £2 billion HVDC cable contract in the UK
Prysmian was awarded a £2 billion contract for the Eastern Green Link 4 subsea interconnector. The project involves more than 640 kilometres of HVDC cable linking Scotland and England. Once completed in 2033, the 2 GW link will power over 1.5 million homes. Construction is scheduled to begin in 2029, pending approvals.