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Serbia’s 2025 budget allocates EUR 1 billion for green projects

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Serbia’s 2025 Budget Law introduces its first Green Budget annex, allocating EUR 1 billion to 64 projects aimed at environmental protection and energy efficiency.  The budget earmarks EUR 528.4 million for railway projects, including the Hungarian-Serbian railway and Belgrade’s urban subway system, designed to reduce CO2 emissions and enhance energy efficiency. In addition to transportation, the Green Budget focuses on renewable energy projects, including the development of sustainable waste and water management systems, flood protection,…

Power Sector News Roundup for December 11, 2024

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Global: Canada announces C$1 billion funding for clean energy projects. BP and JERA to form offshore wind joint venture. EU to prioritize geothermal energy to reduce reliance on Russian gas. Jacobs partners with Terra Solar for energy project in the Philippines. TNB and Sembcorp to export 50 MW renewable energy to Singapore. Arevon Energy starts up Eland 1 Solar plus Storage Project in California. Iberdrola secures license for 274 MW wind project in Portugal. Davidson…

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Recurrent Energy secures PPA for 300MW solar project in Spain

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Canadian Solar subsidiary Recurrent Energy has signed a ten-year power purchase agreement (PPA) with a US-based technology company for renewable energy from its Tordesillas solar photovoltaic (PV) project in Valladolid, Castilla y León, Spain. The 300MW project, expected to be operational by 2026, will generate 620 gigawatt hours (GWh) annually, powering 188,000 households and reducing CO₂ emissions by 161,000 tonnes annually.  Recurrent Energy plans to retain ownership and operation of the solar facility upon energization….

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Pele Green Energy reaches financial close on Sonvanger solar plant

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Pele Green Energy (PGE) has achieved financial close for the 100 MW Sonvanger solar photovoltaic (PV) power plant in South Africa.  Located 4 km southwest of Theunissen in the Masilonyana local municipality of Free State province, the plant will supply clean energy to Glencore Merafe Venture’s ferrochrome smelters. The Sonvanger project is the country’s first utility-scale renewable energy project led by a single sponsor and IPP. The project will contribute to reducing carbon emissions, diversifying…

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Ørsted begins sale of 50% stake in £8.5bn Hornsea 3 wind farm

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Danish energy company Ørsted has started the process of divesting a 50% stake in its 2.9 GW Hornsea 3 offshore wind farm, located 120 km from the UK coast, according to Bloomberg. The sale, part of Ørsted’s broader divestment strategy led by CEO Mads Nipper, is expected to attract buyers willing to contribute to the project’s construction costs. The Hornsea 3 project, valued at approximately £8.5 billion ($10.8 billion), is anticipated to supply power to…

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ABL secures marine warranty survey contract for Iberdrola’s Windanker wind farm

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Energy and marine consultancy ABL, part of the ABL Group, has been awarded a contract to provide marine warranty survey (MWS) services for Iberdrola’s 315 MW Windanker offshore wind farm in the Baltic Sea, 25 km offshore Germany. ABL Germany, based in Hamburg, will oversee the offshore transportation and installation of foundations, inter-array cables, and wind turbine generators for the project, which will include 21 turbines, each with 15 MW capacity. Installation activities are planned…

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National Grid Renewables secures PPA for 150 MW Bee Hollow solar project

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National Grid Renewables has signed a power purchase agreement (PPA) with the Illinois Municipal Electric Agency (IMEA) for the 150 MW Bee Hollow solar project in St. Clair County, Illinois.  Construction is slated to start in 2025, expanding the company’s solar capacity in Illinois to 350 MW, including the Prairie Wolf solar project in Coles County. The Bee Hollow project is expected to generate $34 million in economic benefits over 20 years, including tax revenue,…

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CCEA approves Rs 36.89 billion for two hydropower projects in Arunachal Pradesh

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The Cabinet Committee on Economic Affairs (CCEA) has approved an investment of Rs 36.89 billion for two hydropower projects in Arunachal Pradesh to enhance the region’s power supply and support the national grid.  The 186 MW Tato-I Hydro Electric Project and the 240 MW Heo Hydro Electric Project will be developed through joint ventures between the North Eastern Electric Power Corporation (NEEPCO) and the Arunachal Pradesh government. The Tato-I project will receive Rs 17.5 billion,…

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Masdar and SOCAR achieve financial close for 760MW solar projects in Azerbaijan

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Masdar and SOCAR Green have achieved financial close for two solar projects in Azerbaijan: the 445MW Bilasuvar plant and the 315MW Neftchala plant, with a combined capacity of 760MW. The total investment for the projects exceeds $600 million, funded by the European Bank for Reconstruction and Development, the Asian Development Bank, and the Asian Infrastructure and Investment Bank. The financial agreements were signed during the COP29 conference in November 2024 in Baku, Azerbaijan. Groundbreaking for…

Power Sector News Roundup for November 7, 2024

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Global: Trump as US president will deepen climate crisis: Policy experts Masdar, Sarawak Energy, and Gentari explore floating solar plant in Malaysia GE Vernova launches HVDC Competence Center in Berlin Global shift towards sustainable energy drives $3.1 trillion investment surge EWEC receives three bids for 1,500 MW Khazna Solar PV project in Abu Dhabi Cubico unveils Scout Moor II: 100 MW wind project to power 100,000 UK homes Singapore’s Punggol Digital District to feature first…