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EIB grants €120 million loan to Iberdrola for energy innovation in Spain
The European Investment Bank (EIB) has signed a €120 million loan agreement with Iberdrola to support research and innovation in energy technologies, focusing on accelerating electrification and decarbonisation. The total investment associated with these initiatives amounts to €250 million. The funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, wind power, hybrid, and agrovoltaic projects. It will also support research into decarbonisation technologies such as green hydrogen and heat…
UK launches investment support scheme for long-duration energy storage
The UK government has introduced a new investment support scheme to bolster the country’s energy storage infrastructure, with a focus on long-duration energy storage (LDES) technologies. These projects, including pumped storage hydro, are essential for storing renewable energy and ensuring its availability when needed, acting as giant batteries for the grid. LDES technologies have faced investment challenges due to high upfront costs despite low operational expenses. The new scheme is designed to overcome these barriers,…
Avaada Energy secures Rs 5.97 billion refinancing for solar projects
Avaada Energy, part of Avaada Group, has secured approximately Rs 5.97 billion in refinancing for its commercial and industrial (C&I) solar projects in Karnataka and Maharashtra. The refinancing was provided by NIIF Infrastructure Finance Limited (NIIF IFL), a debt fund focused on operational infrastructure projects. Avaada’s solar projects supply power to major corporations such as Bharti Airtel, Motherson, Bharat Forge, STT, Nxtra Data, and Lumax, supporting their energy transition initiatives. The refinancing deal allows Avaada…
Italy considers developing SMRs in energy policy shift
Italy is exploring the development of small nuclear reactors, marking a significant departure from its long-standing nuclear ban, according to Bloomberg. Industry Minister Adolfo Urso announced at the Ambrosetti Forum that the government is in discussions with foreign partners to establish a new company focused on advanced nuclear technology. Talks are ongoing with key players like Ansaldo Nucleare, a specialist in nuclear plants, Enel, the state energy giant, and Newcleo, known for developing reactors powered…
TMEIC expands PV manufacturing in Texas
TMEIC Corporation Americas, a subsidiary of Japan’s TMEIC Corporation, will relocate its headquarters to Houston, Texas, in March 2025. Alongside this move, TMEIC will establish a 144,000 sq ft facility in Brookshire, Texas, dedicated to manufacturing utility-scale PV inverters, reinforcing its commitment to U.S. photovoltaic (PV) manufacturing. As of July 2024, TMEIC has installed over 50 GW of renewable energy systems globally, with 28 GW in North America since entering the U.S. market in 2010….
Tata Motors, Tata Power to roll out 200 fast chargers for electric commercial vehicles
Tata Power EV Charging Solutions Limited, a subsidiary of Tata Power Renewable Energy Limited, has signed a Memorandum of Understanding (MoU) with Tata Motors to establish 200 fast-charging stations for electric commercial vehicles across major metropolitan cities, including Mumbai, Delhi, Chennai, Bengaluru, and Kolkata. As part of the initiative, Tata Motors and Tata Power will offer exclusive charging tariffs to Tata Motors’ electric commercial vehicle owners, reducing operational costs and enhancing profitability. The planned expansion…