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Drax Power to pay £25 million for misreporting biomass data, Ofgem announces
UK energy regulator Ofgem has announced that renewable energy generator Drax Power will pay £25 million for misreporting data regarding imported biomass from Canada. In May 2023, Ofgem launched an investigation into whether Drax had breached annual profiling reporting requirements under the Renewables Obligations (RO) scheme. Ofgem concluded that Drax lacked adequate data governance controls for the biomass imported from Canada between April 1, 2021, and March 31, 2022. However, there was no evidence that…
Power Sector News Roundup for November 13, 2024
Global: Ofgem approves LionLink and Nautilus pilot projects for North Sea wind interconnectors Indonesia announces plans for 75GW renewable energy expansion over 15 years MDBs pledge $120 billion for low-income nations at COP29 Nordex secures order for 19 turbines for Québec wind project Enphase Energy launches AI-powered DIY permitting on Solargraf Elcogen secures €24.9 million EU grant for hydrogen tech expansion ADB approves USD 311 million loan for Nepal’s T&D infrastructure upgrade India: Power Grid…
IDBZ approves 5 MW Gutu Solar Power Project in Zimbabwe
The Infrastructure and Development Bank of Zimbabwe (IDBZ) has approved the development of a 5 MW Gutu Solar Power Generation Plant. Under the agreement, IDBZ will fund the project, while the Gutu Rural District Council (GRDC) is providing the land under a 25-year lease agreement approved in October 2023. GRDC has already initiated site preparation, including land clearing, road construction, and fencing. The Ministry of Finance, Economic Development & Investment Promotion, with support from the…
ARYA secures Rs 1 billion to develop CBG projects with IOCL and BPCL
ARYA, a subsidiary of GPS Renewables, has raised Rs 1 billion in mezzanine financing as part of a Rs 2 billion funding round aimed at establishing compressed biogas (CBG) projects in collaboration with Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). The financing was provided by InCred Opportunities Fund and Spark Capital, supporting ARYA’s mission to advance biofuel production and contribute to India’s net zero objectives. In the coming year, ARYA plans…
Enefit Green secures €100 million EBRD loan for Estonia’s largest wind farm
Enefit Green has secured a €100 million loan from the European Bank for Reconstruction and Development (EBRD) for the construction of the 255MW Sopi-Tootsi wind farm in Estonia. The eight-year loan supports the wind farm’s development, set to be completed by 2025. The project, with over half of its 38 turbines already installed, will meet 40% of the annual electricity consumption of Estonian households.
Torrent Power secures 2,000 MW energy storage order from MSEDCL
Torrent Power has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution (MSEDCL) for 2,000 MW of energy storage capacity from its InSTS-connected pumped hydro storage plant in Maharashtra. This includes an additional 500 MW capacity, following the 1,500 MW awarded on 17 September 2024. The energy storage facility will allow scheduled discharge of up to eight hours, with a maximum of five continuous hours per day. MSEDCL will provide the input energy…