Odisha has secured investment proposals worth Rs 4,330 billion in the renewable energy sector during the ‘Utkarsh Odisha – Make in Odisha Conclave 2025.’ On the second day of the event, the Sectoral Session on ‘Renewable Energy for Viksit Odisha’ resulted in significant Memorandums of Understanding (MoUs) to strengthen the state’s clean energy infrastructure….
Avaada Group has signed a memorandum of understanding (MoU) with the Odisha government to invest Rs 207 billion in renewable energy projects. The investment will support the development of 1,500 MW of floating solar projects, two 1,000 MW Pumped Storage Projects (PSP), and green energy equipment manufacturing units. The agreement was formalized at the Make…
Masdar, the United Arab Emirates’ clean energy provider, has entered the Philippines renewables market with agreements to develop 1GW of solar, wind, and battery energy storage systems (BESS) by 2030. The agreements, signed with the Philippines Department of Energy (DoE) and the Board of Investments, support the country’s energy transition programme. This initiative aims to…
Indian Railway Finance Corporation (IRFC) has signed a memorandum of understanding (MoU) with the Renewable Energy Management Centre (REMC) to finance renewable energy projects supplying power to Indian Railways. The partnership aims to support renewable energy initiatives and explore financing options for thermal, nuclear, and renewable projects under a captive model. REMC will utilise its…
JERA Co., Inc., Green Power Investment Co., Ltd. (GPI), and Tohoku Electric Power Co., Inc. (Tohoku Electric) have formed a consortium led by JERA to operate a 615 MW offshore wind project in the Sea of Japan, off the southern coast of Aomori Prefecture. Japan’s Ministry of Economy, Trade, and Industry and the Ministry of…
The European Investment Bank (EIB) has committed €243m ($255m) to finance renewable energy projects by wind and solar operator ERG Group. The funding will advance renewable energy development across Italy, France, and Germany, aligning with EU energy targets and national climate plans. The EIB’s green loan supports ERG’s 2024–2026 Business Plan, which focuses on expanding…
The Government of Rajasthan (GoR) has signed Memorandum of Understandings (MoUs) valued at Rs 104.5 billion with Prudential Sugar Corporation Limited and Oriana Power Private Limited for renewable energy (RE) projects under the “Rising Rajasthan Global Investment Summit 2024.” The MoUs include: An MoU worth Rs 4.5 billion with Prudential Sugar for the establishment of…
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,…
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…
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…