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rPlus Energies begins construction on $1 billion Green River solar and storage project in Utah

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rPlus Energies has started construction on the Green River Energy Center, a major solar photovoltaic (PV) and battery storage project in eastern Utah. The project includes a 400MW solar PV facility paired with a 400MW/1,600MWh battery storage system, making it one of the largest solar-plus-storage projects in the US.

The project, supported by over $1 billion in construction debt financing, will provide clean energy to PacifiCorp under a power purchase agreement (PPA). It is expected to create 500 jobs and boost the local economy. Sundt Construction is leading the engineering, procurement, and construction efforts, with EliTe Solar supplying solar modules and Tesla delivering the battery storage system.

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Power ministry to launch Rs 10 billion scheme for MSME energy efficiency

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The Ministry of Power (MoP) is set to launch a Rs 10 billion scheme to support energy efficiency initiatives among small and medium businesses, aiming to incentivize adoption of energy-efficient technologies.  Under the Bureau of Energy Efficiency’s ADEETIE scheme (Assistance in Deploying Energy Efficient Technologies in Industries & Establishments), the plan will provide interest subvention of approximately five percent for small enterprises and three percent for medium enterprises. Technologies covered include automation systems for resource…

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PGCIL raises FY25 capex target to Rs 180 billion

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Power Grid Corporation of India Ltd (PGCIL) has increased its FY25 capital expenditure (capex) target to Rs 180 billion, up from the previous Rs 150 billion, marking the highest capex since FY20. In the first quarter of FY25, PGCIL achieved a capex of Rs. 4.62 billion and capitalized Rs 2.32 billion, with Rs 1.35 billion from Regulated Tariff Mechanism (RTM) projects and Rs. 972 crore from Tariff Based Competitive Bidding (TBCB) projects. During this period,…

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First nuclear plant recommissioned in US history as part of $2.8bn funding

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The Biden-Harris Administration, through the US Department of Energy (DOE) and Department of Agriculture (USDA), has allocated over $2.8bn to support clean energy in the Midwest. As part of this effort, the DOE has secured a loan guarantee of up to $1.52bn for recommissioning the 800 MW Palisades Nuclear Plant in Michigan, marking the first revival of a retired nuclear facility in US history. Palisades, which closed in May 2022, will resume operations, providing clean…

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Stiesdal Offshore partners with Copenhagen Infrastructure for floating wind sector

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Stiesdal Offshore and Copenhagen Infrastructure Partners (CIP), through its Copenhagen Infrastructure V (CI V) fund, have formed a strategic collaboration to establish Stiesdal Offshore as a leading player in the floating wind sector. As part of this partnership, CI V has acquired a minority stake in Stiesdal Offshore. Stiesdal will provide engineering services and project execution support, focusing on reducing costs, simplifying project execution, and accelerating the growth of floating offshore wind. The floating wind…

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Qair acquires majority stake in Green Switch Capital to expand UK renewable energy presence

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European renewable energy company Qair has acquired a majority stake in UK-based Green Switch Capital (GSC), a developer specializing in offshore wind, solar, and storage projects. This strategic acquisition aims to bolster Qair’s renewable energy footprint in the UK and position it as a significant player in the nation’s renewable sector. GSC’s development pipeline exceeds 15 GW, with half of the projects already having grid offers, land leases, and connections. The first project is expected…

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DVC enters into financing agreement with SBI for thermal power plant

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Damodar Valley Corporation (DVC) has secured a financing agreement of Rs 100.5 billion with the State Bank of India (SBI) for the 2X800 MW Koderma Thermal Power Project, Phase-II, in Jharkhand. This funding will cover the majority of the Rs 14.36 billion project cost. The agreement outlines loan arrangements and financial terms necessary for the plant’s construction and operation. With a total capacity of 1,600 MW, the project aims to boost power generation in the…

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