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Alternus Clean Energy acquires LiiON for $5 million

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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…

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Vietnam and Singapore to collaborate for electricity export

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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…

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

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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…

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

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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…

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Investors propose taking ReNew Energy Global private in deal

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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,…

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Construction begins for Khorlochhu Hydropower Project in Bhutan

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The construction work of the Rs 69 billion Khorlochhu Hydropower Project in Bhutan has commenced, with the plant expected to be commissioned by September 2029.  The 600 MW project is being developed on the Kholongchhu River in eastern Bhutan. In August, Tata Power and Bhutan-based Druk Green Power Corporation (DGPC) partnered to develop the project.  Later in November, Tata Power announced a partnership with DGPC to develop a 5,000 MW clean energy portfolio in Bhutan….

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EliTe Solar commissions new solar cell production facility in Indonesia

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EliTe Solar has officially opened a new solar cell production facility in Indonesia, aimed at driving clean energy adoption and fostering sustainable economic growth in the region.  The facility, developed in collaboration with local authorities and partners, is set to generate employment, boost local incomes, and create an industrial cluster in the area. With Indonesia’s vast solar potential of 3,294 GW, the new facility is strategically positioned to meet rising demand while contributing to the…

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Pine Gate receives approval for 2.4GW Sunstone solar project in Oregon

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Pine Gate Renewables has received final discretionary approval from the Oregon Energy Facility Siting Council (EFSC) to begin construction of the 2.4GW Sunstone solar project, which includes 1.2GW of solar capacity and 1.2GW of energy storage.  This project is set to become the largest proposed solar and storage project in the United States. The approval marks a major milestone for both the company and Oregon’s clean energy efforts. The decision follows an extensive evaluation and…

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Serentica Renewables to invest Rs 500 billion in renewable energy in Rajasthan

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Serentica Renewables plans to invest Rs 500 billion to develop 10,000 MW of renewable energy capacity in Rajasthan, as part of its efforts to position the state as a renewable energy hub.  This investment aligns with the company’s participation in Rising Rajasthan 2024.  Currently, Serentica has 3,000 MWp of renewable energy under construction in the state, focused on serving India’s commercial and industrial sectors, with over 400 MWp already operational.  The company aims to use…