Power Sector News Roundup for November 28, 2024

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Global WA completes second phase of Kwinana big battery project. Maxeon Solar to divest non-US assets, focus on US market expansion. Uniper signs PPA with Stegra for green hydrogen and steel production. Capital Power sells stake in two Canadian wind facilities to Axium. Alfanar signs SAR 20 billion contracts with SEC for energy projects. India NTPC REL declares commercial operation of 55 MW Shajapur solar unit. KEC International wins Rs 17.04 billion T&D orders from…

Power Sector News Roundup for November 26, 2024

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Global: Masdar and Silk Road Fund to co-invest $2.8bn in renewable energy projects BayWa r.e. sells 517 MW US solar portfolio in largest transaction to date RWE acquires majority stake in R3 Renewables Equinor cuts 20% of renewables workforce amid offshore wind challenges Azerbaijan awards first 100 MW solar project to Universal International Arab Group opposes fossil fuel phase-out at COP29 climate summit Indonesia to retire coal-fired power plants by 2040 National Grid Renewables secures…

Power Sector News Roundup for October 21, 2024

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Global: Top European Union economies spend 42 billion euros annually on fossil-fuel company car subsidies, study finds European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen Energy reports Neart na Gaoithe offshore wind farm generates first power for UK grid Hellenic Cables secures contract for Leading Light Wind project in the US deveritec GmbH and Wirepas launch new NIC for Wirepas 5G Mesh in Europe Lhyfe partners with KEYOU for hydrogen mobility in…

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Pioneering Change: Coal-to-Clean Energy Success Stories

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Financial institutions (FIs) are stepping in with coal transition mechanisms (CTMs), financial tools designed to help overcome challenges such as high capital costs and the insulation of coal assets from competition. These tools have enabled early coal plant retirements in various markets worldwide. This article presents case studies on the successful early retirement of coal plants, including the Tocopilla power station in Chile, the Logan and Chambers generating stations in the United States, and the…

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NHPC issues tender for 1.2 GW ISTS-connected solar + energy storage system

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NHPC has launched a tender for 1.2 GW of Inter-State Transmission System (ISTS)-connected solar power projects, including a 600 MW/12,000 MWh energy storage system (ESS). The tender also includes a greenshoe option for an additional 1.2 GW capacity. The deadline for bid submissions is October 18, with the project expected to be completed within 24 to 30 months from the signing of the power purchase agreement (PPA). The project, to be developed on a build-own-operate…

Understanding the Global Institutional Infrastructure of Energy

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The global energy sector is a complex web of organisations, regulators, and private corporations working together to ensure that the world’s energy needs are met while promoting sustainability, innovation, and policy alignment. From setting regulations to facilitating international cooperation, these institutions play an essential role in shaping how energy is produced, distributed, and consumed. This article will explore the key players in the global energy infrastructure, including international organizations, national regulatory bodies, industry associations, and…

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Fossil fuels to supply 40-60% of energy by 2050 despite clean energy push: McKinsey

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A McKinsey report reveals that fossil fuels will continue to provide 40-60% of global energy by 2050, due to slower adoption of electric vehicles (EVs) and challenges in scaling clean energy technologies. Gas will remain a key energy source, stabilizing grids as renewables, though growing, are intermittent. Despite fossil fuel consumption plateauing between 2025 and 2035, investments will persist to ensure energy reliability during the transition. Global energy demand is set to rise by up…

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BP to divest US onshore wind business to shift towards solar and oil focus

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British energy giant BP has announced plans to sell its US onshore wind energy business, BP Wind Energy, citing misalignment with its strategic growth goals. The sale, which includes ten onshore wind assets across seven US states with a combined net generating capacity of 1.3 GW, is expected to begin in autumn 2024. This move comes amid a broader shift in BP’s strategy, driven by new CEO Murray Auchincloss, who has placed renewed emphasis on…

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North Korea-linked hackers use fake job offers to target energy industry

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A North Korea-affiliated cyber-espionage group, UNC2970, is tricking people in the energy and aerospace industries with fake job offers to gain access to sensitive information. The hackers send phishing emails, pretending to be recruiters offering high-level jobs. When victims open the job descriptions, they unknowingly download malware called MISTPEN, a tool that gives hackers control over their computers. This cyber group has been active since 2013 and is believed to be working for North Korea’s…

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Power supply and allocation overview for August 2024

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The peak power demand in India for August 2024 reached 2,49,856 MW, with 2,49,854 MW being met, a marginal shortfall of 2 MW. Many states were able to meet their peak power demand in full. Delhi had a peak demand of 8,656 MW, which was fully met, and Maharashtra similarly met its demand of 28,924 MW. In certain regions, small deficits were observed. For example, UT of J&K and Ladakh had a peak demand of…