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UK seeks new investors for Sizewell C nuclear project

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The UK government is exploring new investor interest for the Sizewell C nuclear plant, as negotiations continue to secure funding for the project.  These discussions come at a crucial time, with the UK aiming to modernise its power infrastructure by 2030.  However, the project’s funding timeline has been delayed, with a final investment decision now expected no earlier than spring 2025, pushing back the initial target of a 2024 decision. Securing investors for Sizewell C…

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Hero Future to invest Rs 110 billion in Karnataka

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Hero Future Energies Private Limited (HFEPL) has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest Rs 110 billion in renewable energy and green hydrogen projects.  The investment will be allocated for establishing renewable energy, green hydrogen, and its derivatives projects in Karnataka over the next two to three years.  The projects are set to commence in 2025-26 and are expected to create over 3,000 jobs. The Karnataka government will provide…

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Chubu Electric increases stake in OMC Power to over 35%

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Japan’s Chubu Electric has increased its investment in OMC Power, raising its stake from 20% to over 35%, becoming the largest shareholder.  This additional funding will support OMC Power in commissioning 100 MW of energy transition projects and expanding operations in India and South Africa. OMC Power currently operates over 500 clean energy plants, supplying power to telecom towers, institutional rooftops, commercial and industrial sectors, and providing power distribution to rural and underserved areas. Mitsui…

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Mirova to invest $518m in RP Global’s clean energy projects

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French asset management firm Mirova has committed €480 million ($518 million) to RP Global, an independent power producer (IPP), to advance its 2.5 GW pipeline of clean energy projects across Europe. The investment is split between the Mirova Energy Transition 6 (MET6) fund, providing €200 million, and an additional €280 million from a co-investment vehicle managed by Mirova. This partnership makes MET6 a significant minority shareholder in RP Global. Anne-Laure Messier, Mirova’s investment director, highlighted…

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Rajasthan and UAE sign MoU for Rs 3 trillion investment in 60 GW RE projects

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The Rajasthan government has signed a memorandum of understanding (MoU) with the United Arab Emirates (UAE) for an investment of Rs 3 trillion to develop renewable energy projects with a combined capacity of 60 GW in solar, wind, and hybrid energy across western Rajasthan.  The UAE will appoint a qualified developer to manage project governance and administration, ensuring efficient and swift implementation.

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Gensol Engineering establishes three wholly-owned subsidiaries

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Gensol Engineering Limited has incorporated three new subsidiaries: Innogrid Energy Private Limited, Hari Shakti Energy, and Shakti Sangini Energy Private Limited.  Gensol has subscribed to 10,000 equity shares in each subsidiary, representing 100 percent of their total share capital, with an investment of Rs 100,000 per company. These subsidiaries are now wholly-owned by Gensol Engineering.

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TOYO to build 2GW solar cell manufacturing facility in Ethiopia

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Japanese firm TOYO has announced plans to build a 2GW solar cell manufacturing facility in Hawassa, Ethiopia, with an estimated investment of $60 million. The facility will be developed on a 31,500m² site, with construction set to begin in November 2024 and production expected by the end of Q1 2025. The project will create up to 880 jobs in manufacturing and engineering. Ethiopia’s favourable investment policies and tariff exemptions, along with its reliance on green…