JSW Renew Energy Seventeen, a subsidiary of JSW Energy, has entered into a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for a 192 MW wind-solar hybrid capacity connected to the state transmission utility (STU) in Gujarat. This is the company’s first PPA for a wind-solar hybrid project, with the power set to be supplied for 25 years at a tariff of Rs 3.27 per kWh. The project is scheduled for commissioning…
India is set to become the global engine for energy demand growth through 2035, according to the International Energy Agency’s (IEA) World Energy Outlook 2024. The report highlights India’s rapid expansion, with the country adding more than 12,000 cars daily, increasing built space equivalent to South Africa, and seeing its air-conditioners consume more electricity than Mexico’s total power consumption by 2035. As the world’s third-largest oil consumer, India will increase oil demand by nearly 2…
Global: – World Bank approves USD 250 million for renewable energy in Lebanon– Masdar and Presight to launch AI tool for managing RE assets globally– Fugro to site investigate Rhein-Main-Link offshore wind cable project in Germany– Sumitomo and CEP Solar to deliver 1.5GW of clean energy projects in Virginia– Ignitis Group to bid in Lithuania’s second offshore wind tender – Quinbrook signs offtake agreements with Tesco and Shell for Cleve Hill Solar Park– VNG AG…
Ignitis Group, a Lithuania-based energy company, has decided to participate in the country’s second offshore wind tender, set to begin in mid-November 2024. The tender will offer rights to develop a 700MW wind farm in the Baltic Sea, with the successful bidder to be announced by April 2025. Ignitis is currently seeking a partner or consortium to take up to a 49% stake in the project. If no partner is secured by the end of…
Sumitomo Corporation, through its Sumitomo Corporation of Americas and Perennial Power Holdings, has partnered with CEP Solar to develop over 1.5GW of solar and battery storage assets in Virginia, US. This joint venture will combine CEP Solar’s local expertise with Sumitomo’s project finance capabilities, accelerating the expansion of renewable energy in the region. Construction is expected to begin in late 2025. Takuya Yoshizawa, president of Perennial Power Holdings, highlighted that the partnership enhances geographic diversity…
UAE-based Masdar has teamed up with Presight to create an AI-driven asset management tool aimed at optimising its global renewable energy projects. The tool will leverage big data analytics and generative AI to process billions of data points generated by Masdar’s solar panels and wind turbines. This collaboration seeks to enhance operational efficiency, predict maintenance needs, and boost renewable energy production by shifting from reactive to predictive maintenance strategies. Presight CEO Thomas Pramotedham emphasized the…
IBM has acquired Prescinto, a Bangalore-based provider of asset performance management (APM) software-as-a-service (SaaS) for renewable energy. Prescinto leverages AI to streamline operations, manage clean energy and storage assets, and provide advanced monitoring and analytics. The acquisition is set to boost IBM’s Maximo Application Suite (MAS) by offering near real-time performance tracking for solar, wind, and energy storage assets, optimizing generation, and supporting clients’ sustainability and net-zero initiatives. Founded in 2016, Prescinto manages 16 GW…
The World Bank’s Board of Executive Directors has approved a USD 250 million project to expand renewable energy sources (RES) in Lebanon and support ongoing electricity grid reforms. The initiative will strengthen Lebanon’s state-owned Electricité du Liban (EDL) operational and commercial systems, increase grid-connected RES supply, and reinforce the national power network. Key components include developing a grid-connected solar photovoltaic (PV) plant, rehabilitating the Litani River Authority (LRA) hydropower plant, and upgrading the EDL transmission…
Maharashtra State Electricity Distribution Company (MSEDCL) has selected JSW Neo Energy, Tata Power Renewable Energy Limited (TPREL), Avaada Energy, and Juniper Green Energy as the winners of its 1,650 MW wind-solar hybrid auction. These companies will supply power on a long-term basis from grid-connected intrastate projects. JSW Neo secured 600 MW, including 400 MW under the greenshoe option, while Tata Power won 400 MW, with 200 MW under the greenshoe option. Avaada Energy was awarded…
Indian Oil Corporation (IOCL) has partnered with EverEnviro Resource Management to establish a joint venture (JV) focused on converting organic waste into compressed biogas (CBG). The two companies will share equal ownership in the JV, which will integrate advanced biogas technologies to promote biofuels and support the national deployment of CBG plants. This initiative aligns with IOCL’s long-term low-carbon strategy and its goal of achieving operational net-zero emissions by 2046. In addition to the CBG…
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