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Global Contract and Deal Updates – January 28, 2025

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Meridiam partners with HAU and EBRD to develop renewable energy in Egypt Meridiam has entered into a long-term strategic partnership with Hassan Allam Utilities (HAU) and the European Bank for Reconstruction and Development (EBRD) to develop and invest in greenfield renewable energy projects in Egypt, focusing on wind and solar power. The first project under this agreement is a 1.1 GW wind power plant, with ACWA Power also as a partner. The plant will be…

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Solar power overtakes coal in EU electricity mix in 2024

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Solar power surpassed coal in the European Union’s (EU) electricity mix for the first time in 2024, according to energy think tank Ember.  Solar accounted for 11% of the EU’s electricity mix, up from 9.3% in 2023, while coal fell below 10%, the lowest since Ember began tracking in 2011. Gas-fired power dropped to 15.7% from 16.9% in 2023. Wind power remained steady at 17.4%, though new wind capacity of 13GW in 2024 was partially…

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Waaree Solar Americas starts commercial production of solar modules in Texas

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Waaree Solar Americas, a wholly-owned subsidiary of Waaree Energies Limited (WEL), has begun the commercial production of solar modules at its manufacturing facility in Brookshire, Texas, with a capacity of 1,600 MW. This facility marks a key step in localising solar module manufacturing in the United States, supporting job creation and reducing dependence on imported solar products.  The Texas plant will produce high-quality photovoltaic modules to meet the growing demand for renewable energy solutions in…

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Uzbekistan’s NEGU targets 76.1 billion TWh electricity transmission in 2025

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Uzbekistan’s JSC National Electric Grid of Uzbekistan (NEGU) aims to transmit 76.1 billion TWh of electricity through its networks in 2025, an increase from 74 TWh in 2024. In 2024, NEGU made significant improvements, including adding 543 km of high-voltage transmission lines, 1,627 MVA capacity substations, and repairing 309 transformers and over 6,400 km of transmission lines. The grid also integrated renewable energy projects, connecting 763 MW of solar and 1,500 MW of wind power….

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Bondada Group to establish 100 MW hybrid RE plant in Assam

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Dr. Bondada Raghavendra Rao, Chairman and Managing Director of Bondada Group, has signed a memorandum of understanding (MoU) with Assam’s Minister of Education, Welfare of Plain Tribe and Backward Classes, Sri Ranoj Pegu, at the Advantage Assam 2.0 Summit 2025 in Hyderabad.  The agreement is for setting up a 100 MW hybrid renewable energy plant, combining solar and wind power, under the UNNATI Scheme. The project entails an investment of approximately Rs 4.5 billion.

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Vestas secures turbines order for Ukraine’s largest wind energy project

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Vestas has secured an order to supply turbines for the second phase of the Tyligulska wind energy project in Ukraine, the country’s largest renewable energy project.  Following the successful commissioning of the first phase in spring 2023, Vestas will deliver 64 turbines, contributing 384MW to the project’s total capacity of 498MW across both phases. The turbines, V162-6.2MW models, will each generate 6MW of power.  The project benefits from substantial international support, including backing from Danish…

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Trincomalee Power to develop 50 MW solar project in Sri Lanka

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Trincomalee Power Company Limited (TPCL), a joint venture between NTPC Limited and the Ceylon Electricity Board (CEB), is developing a 50 MW solar project in Sampoor, Trincomalee, Sri Lanka, with potential for expansion to 120 MW. The project’s tariff has been finalised at 5.97 US cents per unit. The Sampoor Solar Project is aligned with Sri Lanka’s renewable energy goals and will contribute to long-term energy security. The electricity generated will be transmitted to the…

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Mongolia partners with EBRD to boost renewable energy sector

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Mongolia has entered into a partnership with the European Bank for Reconstruction and Development (EBRD) to enhance the country’s renewable energy sector.  Announced at the World Economic Forum in Davos (January 2025), the EBRD will help Mongolia develop solar, wind, and energy storage projects through auctions. The EBRD will offer technical support, including feasibility studies and environmental assessments for small and medium-sized hydroelectric plants, helping build a strong foundation for renewable energy in Mongolia.  The…

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Godrej focuses on five states for power infrastructure

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The Energy Solutions business of Godrej Enterprises Group (GEG) has announced its focus on investing in power infrastructure projects for clean energy.  The company will prioritize Maharashtra, Gujarat, Rajasthan, Haryana, and Madhya Pradesh for its green energy and power infrastructure projects. GEG plans to grow at a CAGR of over 20% in the next 3-5 years, driven by its expanding portfolio of EHV (Extra High Voltage) power transmission projects up to 765kV, along with strategic…

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Essar Renewables to invest Rs 80 billion in Maharashtra for RE projects

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Essar Renewables Limited has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to develop 2,000 MW of renewable energy capacity. The Rs 80 billion investment will focus on round-the-clock renewable energy projects to power the electric vehicle truck charging infrastructure of Blue Energy Motors and Greenline. The projects are expected to start operations in fiscal year 2026-27, creating over 2,000 direct employment opportunities and boosting Maharashtra’s economic growth. Essar Renewables, a division…