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Vale and Green Energy Park partner on green hydrogen for global steel sector

Global, News

Brazilian mining giant Vale and European hydrogen company Green Energy Park (GEP) have announced a collaboration to build a green hydrogen production facility in Brazil, aiming to produce low-carbon steel. The joint venture will establish a ‘Mega Hub’ industrial complex, where international steelmakers can source and produce hot-briquette iron (HBI) using green hydrogen as the reducing agent. This initiative is expected to cut carbon emissions by 80% compared to traditional blast furnaces, which emit two…

Power Sector News Roundup for October 3, 2024

Power Bytes

Global: Iran and Tajikistan are in discussions to enhance cooperation in electricity, water, and other key sectors. Masdar expands in US with 50 per cent acquisition of Terra-Gen Big Tech are spurring demand for SMRs and fusion reactors Brazilian mining giant Vale and European hydrogen company Green Energy Park (GEP) announce collaboration to build green hydrogen production facility in Brazil Newcleo secures €135m investment, plans further European expansion First nuclear plant recommissioned in US history…

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Global Renewable Energy Statistics

Analysis, Data Insights

Renewable Energy Capacity and Production (On-Grid and Off-Grid) In 2023, total global renewable energy capacity reached 3,864,522 MW, up from 1,698,295 MW in 2014, a more than twofold increase. Africa has also experienced growth, with a capacity of 62,066 MW in 2023, up from 32,511 MW in 2014. Countries like Angola, Ethiopia, and South Africa have led this surge, each achieving notable renewable capacity expansions. Angola, for example, expanded from 1,020 MW in 2014 to…

Key Power Sector News Roundup for September 27, 2024

Power Bytes

Marsons Secures LoI for 150 MW Solar Plant in Rajasthan  Marsons has received an LoI from Nacof Oorja to develop a 150 MW solar PV plant in Rajasthan for Rajasthan Renewable Energy Corporation Limited under the KUSUM Scheme Megha Engineering to Invest Rs 210 Billion in Two Hydro Projects Megha Engineering & Infrastructures Ltd (MEIL) will invest Rs 210 billion in two pumped storage hydro projects in Maharashtra, totalling 4,000 MW. The Kamod and Ghosla…

Key Power Sector News Roundup for September 26, 2024

Power Bytes

MERC approves MSEDCL’s procurement of 5,991 MW solar power The Maharashtra Electricity Regulatory Commission (MERC) approved MSEDCL’s procurement of 5,991 MW solar power under Mukhyamantri Saur Krushi Vahini Yojana 2.0. The Rs 3.10 per kWh ceiling tariff ensures competitive pricing. This initiative aims to solarize 30% of agricultural feeders by 2025, helping meet rising renewable purchase obligation (RPO) targets and easing Koyna hydroelectric plant’s peak demand. Zelestra signs 450 MW solar power supply agreement with…

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Ecuador faces widespread power cuts as drought impacts hydroelectric generation

Global, News

Ecuador’s government has implemented power cuts in half of the country’s provinces due to a severe drought that has drastically reduced hydroelectric power generation. The blackout affected 12 of the 24 provinces from 8am to 5pm on Sunday, 22 September, with extended power cuts scheduled nightly from 10pm to 6am until Thursday, 26 September. Nineteen areas have also been placed on red alert. This drought, the worst in 61 years, has led to a significant…

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Engie signs CPPA for 325MW C-Power wind farm in Belgium

Global, News

Engie has signed a corporate power purchase agreement (CPPA) with Atlas Copco Airpower to supply clean energy from its 325 MW C-Power offshore wind farm in Belgium. The agreement will enable Atlas Copco Airpower to partially power its smart factory in Wilrijk with wind energy from the North Sea, helping the company advance its sustainability goals. Atlas Copco aims to reduce its operational emissions by 46% by 2030. This PPA, the company’s first with Engie,…

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South Africa partners with BRICS nations to tackle energy crisis

Global, News

South Africa is addressing its energy crisis through partnerships with BRICS nations to enhance its power infrastructure. The New Development Bank (NDB) has already pledged USD 5 billion to support South Africa’s energy transition, including financing the construction of 14,000 km of new electricity transmission lines by 2030. This expansion is essential to accommodate the country’s goal of increasing renewable energy generation to 55 GW by 2032. NDB will leverage the experiences of China, Brazil,…

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Monarch Private and Invenergy secure $170 million tax equity for samson solar II

India, News

Monarch Private Capital and Invenergy have secured nearly $170 million in tax equity financing for the 200 MW Samson Solar Energy Center II in Lamar County, Texas. Developed by Invenergy, the project will contribute over $27 million in taxes and funding to local schools and the county throughout its lifespan. The solar facility is expected to begin operations later in 2024 and is part of Invenergy’s larger 1,310 MW Samson Solar Energy Center, the largest…

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Scatec signs PPA for 1 GW solar and 100 MW battery storage project in Egypt

Global, News

Norwegian energy company Scatec has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company for a 1 GW solar and 100 MW/200 MWh battery storage project in Egypt. The 25-year, USD-denominated agreement marks Egypt’s first hybrid solar and battery energy storage system. Scatec will manage the engineering, procurement, and construction, along with asset management, operations, and maintenance services. The company aims to secure concessional financing and expects construction to begin in the…