Search Results for: WIND ENERGY

OX2 has sold the Uusnivala battery energy storage system (BESS) project in Finland to L&G NTR Clean Power Fund. The 50 MW/110 MWh project, now ready for construction, will be overseen by the new owner. This sale represents a significant enhancement to the Finnish grid system. Uusnivala will provide essential ancillary services, including frequency regulation and grid stability, and engage in energy arbitrage within wholesale markets. Strategically located near a high wind power penetration area,…

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…

The surge in solar panels and wind turbines is leading to an increase in negative wholesale electricity prices. This phenomenon, occurring in regions such as southern Australia, southern California, France, and Switzerland, happens when production exceeds demand. For example, in southern Australia, negative prices have been recorded about 20 per cent of the time since last year. Southern California saw negative prices over 20 per cent of the time in the first half of 2024,…