|

Waaree Energies begins trial production at 5.4 GW solar cell plant in Gujarat

Waaree Energies Limited has initiated trial production at its 5.4 GW solar cell manufacturing plant in Chikhli, Gujarat.  The facility is a key part of Waaree’s strategy for backward integration in the solar energy sector. By focusing on indigenous solar cell production, the plant aims to reduce import dependency, lower costs tied to global supply chain disruptions, and bolster India’s role in clean energy.  The high-efficiency solar cells produced are expected to meet domestic demand…

|

US NRC approves licence extension for Xcel Energy’s Monticello nuclear plant

The US Nuclear Regulatory Commission (NRC) has approved the renewal of Xcel Energy’s Monticello nuclear plant operating licence, extending its operations until 2050, pending state regulator approval. The plant is a key component of Xcel Energy’s strategy to achieve 100% carbon-free electricity. It currently powers over 500,000 homes annually in the Upper Midwest. Xcel Energy CEO Bob Frenzel highlighted that nuclear energy will be crucial for meeting growing electricity demand while advancing clean energy goals….

|

China develops world’s first 30MW-class pure hydrogen gas turbine

A China-based firm has successfully ignited the world’s first 30MW-class pure hydrogen gas turbine, called Jupiter I. Developed by Mingyang Group and several research teams, the turbine offers a significant solution for renewable energy storage by converting hydrogen back into electricity during peak hours. The turbine addresses the challenge of renewable energy waste during off-peak hours, converting excess electricity into hydrogen for storage. This “power-to-hydrogen-back-to-power” method results in carbon-free power generation. The team overcame major…

|

Excelsior Energy Capital signs 7.5GWh agreement with LG Energy Solution Vertech

Excelsior Energy Capital has entered a multi-year agreement with LG Energy Solution Vertech for a 7.5 gigawatt hour (GWh) reservation to support its US clean energy projects.  This agreement ensures a steady supply of high-quality battery energy storage systems (BESS) for Excelsior’s standalone and hybrid energy storage projects across the country. From 2026, the batteries will be produced at LG Energy Solution Vertech’s advanced US facilities, strengthening supply chain security. The partnership also includes integration…

|

Oklo and Switch sign historic 12GW clean power deal

Switch has selected Oklo, a nuclear technology company, to deploy 12GW of Oklo Aurora powerhouse projects by 2044. The projects are part of a non-binding master power agreement, one of the largest corporate clean power deals to date, setting the stage for future binding power purchase agreements. Oklo will develop, construct, and operate the powerhouses to supply clean energy across the US. This partnership supports Oklo’s growth and the increasing demand for clean energy. Switch’s…

|

Alternus Clean Energy acquires LiiON for $5 million

Alternus Clean Energy has finalized the acquisition of LiiON, LLC through an asset purchase agreement executed by one of its US subsidiaries. The $5 million deal combines debt and equity, granting Alternus LiiON’s customer contracts, service agreements, and partnerships. As part of the agreement, LiiON will provide an exclusive license to its intellectual property. The total consideration includes a $2 million non-convertible loan note, payable over three years, and 250,000 shares of common stock valued…

|

Vietnam and Singapore to collaborate for electricity export

Vietnam and Singapore are set to collaborate on an offshore wind (OSW) power project that will export electricity from Vietnam to Singapore starting in 2030. The announcement was made during a meeting between Vietnam’s Minister of Natural Resources and Environment and Singapore’s Minister for Manpower, as well as the Second Minister for Trade and Industry.  In February 2023, Petrovietnam Technical Services Corporation (PTSC) and Singapore’s Sembcorp Utilities signed an agreement for a 2.3 GW OSW…

|

US DoE offers $15 billion loan commitment to PG&E

The US Department of Energy (DoE) has provided a conditional commitment for a $15 billion loan to California-based electric utility PG&E.  If finalized by the DoE’s Loan Programs Office (LPO), the loan will support multiple energy projects in California and strengthen the state’s energy infrastructure, helping achieve both federal and state climate goals. The upgrades will include advanced sensors, telemetry, and controls to support two-way power flow, enhancing grid resilience during extreme weather events like…

|

CFS plans world’s first commercial fusion power plant in Virginia

Commonwealth Fusion Systems (CFS) has unveiled plans to build the world’s first grid-scale commercial fusion power plant, ARC, at the James River Industrial Park in Chesterfield County, Virginia.  The site, owned by Dominion Energy Virginia, was chosen after a global search for the location of the first commercial fusion plant. CFS has entered into a non-financial collaboration with Dominion Energy Virginia, which includes development support, technical expertise, and leasing rights for the site.  Dominion Energy…

|

Investors propose taking ReNew Energy Global private in deal

Major investors in ReNew Energy Global have proposed taking the clean power generator private in a deal valued at $2.82 billion.  The consortium, which includes the Canada Pension Plan Investment Board and UAE-based Masdar, holds 64% of the company’s voting rights and has offered to buy ReNew’s shares at $7.07 each. The offer represents an 11.5% premium on ReNew’s closing price of $6.34 on December 10, 2024. Following the announcement, ReNew’s stock closed at $7.46,…