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Australia must invest AUD 3.56 trillion to decarbonize power sector by 2030, says BNEF

Global, News

New modeling from BloombergNEF (BNEF) reveals that Australia needs to rapidly decarbonize its power sector to meet its 2050 net-zero goal, requiring an investment of AUD 3.56 trillion ($2.4 trillion) by 2030 and a 135% increase in renewable energy capacity to over 126 GW. BNEF’s New Energy Outlook report emphasizes the urgent need to transform Australia’s energy mix, phasing out all unabated coal and nearly all unabated gas generation by 2035. The country will need…

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Sumitomo acquires stake in EEW Offshore Wind Holding 

Global, News

Japan’s Sumitomo Corporation has acquired an equity stake in EEW Offshore Wind Holding, a move aimed at enhancing its monopile manufacturing capabilities for the offshore wind sector. This strategic partnership leverages Sumitomo’s expertise in the international steel market and EEW’s specialization in offshore wind energy infrastructure. Sumitomo’s General Manager of Steel Products SBU, Takuro Horikoshi, emphasized the alignment of this investment with the company’s commitment to green transformation and the global shift to renewable energy….

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Uzbekistan plans to export surplus electricity to Europe by 2030

Global, News

The Uzbekistan government has announced plans to begin exporting surplus electricity to Europe by 2030, contingent on the successful completion of a trilateral transmission project with Kazakhstan and Azerbaijan. This project includes the construction of a deep-water transmission cable across the Caspian Sea, enabling electricity transmission through Kazakhstan, Azerbaijan, Georgia, and across the Black Sea to Romania, Hungary, and Bulgaria. Uzbekistan’s renewable energy capacity is expected to exceed 4 GW by the end of 2024,…

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Himachal Pradesh advances green energy projects in Spiti

India, News

Himachal Pradesh is pushing forward with green energy initiatives in Spiti and Una to address climate change. A major project is the upcoming 1,000 MW hybrid solar and wind energy Mega Solar Park in Spiti, Lahaul-Spiti. Chief Minister Sukhvinder Sukhu has called for central assistance through the Green Corridor Transmission to fully leverage the state’s renewable energy potential, which is vital for mitigating global warming. In the Una district, the 32 MW Pekhubela Solar Power…

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BPCL to invest Rs 1.7 trillion in petrochemicals, green energy, refining

India, News

Bharat Petroleum (BPCL) plans to invest Rs 1.7 trillion over the next five years in petrochemicals, green energy, fuel marketing, and oil refining. Under its strategic plan ‘Project Aspire,’ BPCL aims to strengthen its core operations in refining and marketing while expanding into emerging sectors like green energy, gas, and non-fuel retail. Key investments include Rs 490 billion for an ethylene cracker project at the Bina refinery in Madhya Pradesh, which will boost refining capacity…

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Gujarat to host India’s first indigenous semiconductor plant 

India, News

Gujarat Chief Minister Bhupendra Patel has announced that the state will host India’s first indigenously developed semiconductor chip plant, a significant milestone in the electronics and semiconductor sector. Highlighting the state’s achievements, Patel noted that Gujarat has attracted Rs 1,000 billion in investments in this sector, crediting the success to the 10th edition of the Vibrant Gujarat Global Summit, which played a crucial role in drawing investments in emerging technologies like AI and semiconductors. In…

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Suzlon Energy’s acquisition of Renom Energy Services to boost market presence  

India, News

Suzlon Energy has acquired a 76% stake in Renom Energy Services, India’s largest multi-brand renewable energy operations and maintenance (O&M) firm, from the Sanjay Ghodawat Group (SGG). This acquisition is expected to enhance Suzlon’s market presence and facilitate its entry into new markets. Despite the acquisition, Renom will continue to operate independently under its board management. Renom’s portfolio includes 1,782 MW of wind, 148 MW of solar, and 572 MW of balance of plant (BoP)…

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SUSI Partners to fund 860 MW battery energy storage portfolio in Chile

Global, News

Swiss investment firm SUSI Partners has announced its agreement to fund the development of a significant battery energy storage portfolio in central-southern Chile through its SUSI Energy Transition Fund (SETF). The investment will support 22 battery energy storage projects, targeting a total capacity of 860 MW and up to 3.5 GWh. This initiative marks an expansion of SUSI’s collaboration with local developer BIWO Renovables, further strengthening their ongoing partnership in Chile’s renewable energy sector. The…

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Gensol-Matrix win Rs 4.5 billion PLI award for 237 MW hydrogen electrolyser project

India, News

Gensol Engineering Ltd and Matrix Gas & Renewables Ltd have secured a Rs 4.5 billion production-linked incentive (PLI) award to manufacture a 237 MW hydrogen electrolyser. The award is part of a competitive tender issued by the Solar Energy Corporation of India (SECI), with the consortium’s total secured capacity reaching 300 MW, including a previous 63 MW award under the first tranche.

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Power Ministry clarifies standards for wind turbine operations at high temperatures

India, News

The Indian Power Ministry has issued new guidelines stating that wind power plants with Wind Turbine Generators (WTGs) operating at rated output at 40°C, without any de-rating, will comply with the normal operating range of the International Electrotechnical Commission (IEC) standard. De-rating refers to operating a turbine at lower power than its maximum capacity. This clarification comes in response to issues raised by the Wind Power Producers Association (WIPPA) regarding difficulties in obtaining approvals for…