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Orlen Group secures EIB loan for Poland’s electricity distribution upgrade

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Orlen Group has received a 3.5 billion zlotys ($866.6 million) loan from the European Investment Bank (EIB) to fund a major program aimed at modernizing and strengthening Poland’s electricity distribution network.  The loan, to be disbursed in tranches over three years, will have a repayment period of up to 15 years. The initial tranche of financing is valued at 900 million zlotys. Energa Operator, Orlen’s distribution subsidiary, will lead the project, serving over 3.4 million…

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Bureau Veritas acquires Versatec Energy to expand energy sector services

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Bureau Veritas has acquired Versatec Energy, a Netherlands-based technical advisory firm specializing in offshore and onshore energy. Financial terms of the acquisition remain undisclosed.  This acquisition enhances Bureau Veritas’ expertise in technical compliance and industrial risk management within the energy sector, aligning with its LEAP | 28 strategy focused on renewables and low-carbon assets. The integration of Versatec Energy’s experience strengthens Bureau Veritas’ service offerings in oil and gas, nuclear, renewables, and emerging technologies like…

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Capital Dynamics secures £48.5m funding for Scottish onshore wind projects

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Capital Dynamics has obtained £48.5 million ($61.4 million) in funding for its first Scottish onshore wind projects, totaling 193 MW in capacity.  The funding, directed to Capital Dynamics’ Clean Energy UK Fund, was provided by Border to Coast Pensions Partnership, the UK’s largest Local Government Pension Scheme pool.  This investment marks Border to Coast’s initial venture in its UK Opportunities portfolio, focused on financing essential infrastructure to support the UK’s renewable energy goals. Capital Dynamics’…

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Ramboll completes K2 Management acquisition

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Global engineering firm Ramboll has finalized its acquisition of K2 Management, an engineering consultancy specializing in wind and solar energy.  With this acquisition, K2 Management is now integrated into Ramboll Group, significantly boosting Ramboll’s wind expertise, which has grown at an annual rate of 25% over the past three years. Ramboll’s Global Wind Division, led by Tim Fischer, anticipates full operational integration by the first half of 2025.  The combined wind division now includes over…

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Equinix partners with CleanMax for renewable energy project in Maharashtra

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Equinix, Inc. has entered into its first power purchase agreement (PPA) in India with CleanMax to develop a 33 MW captive power plant in Maharashtra.  The facility will comprise 26.4 MWp of solar and 6.6 MW of wind capacity, with phased operations commencing in 2025.  This initiative aligns with Equinix’s sustainability strategy, aiming to meet the increasing energy demands of its International Business Exchange (IBX) data centers in Mumbai, driven by the rise in data…

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IndiGrid, BII, and Norfund launch $300 million platform

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IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have established EnerGrid, a $300 million platform focused on greenfield transmission and standalone battery energy storage system (BESS) projects in India.  Each partner will invest $100 million, with EnerGrid aiming to develop projects valued at approximately $1.2 billion over the next several years. Once operational, IndiGrid will acquire these projects at a pre-agreed enterprise value. IndiGrid’s Q2 FY25 investor presentation highlighted…

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NHPC to commission Parbati-II hydroelectric project by March 2025

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NHPC has announced that all four units of the Parbati-II Hydroelectric Project (800 MW) in Himachal Pradesh are expected to be operational by March 2025.  This run-of-the-river project is designed to harness the hydro potential of the lower reaches of the Parbati River. With a cost estimate of Rs 39.2 billion, it will feature four Pelton turbines, each with a 200 MW capacity, supplied by Bharat Heavy Electricals.

Power Sector News Roundup for November 13, 2024

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Global: Ofgem approves LionLink and Nautilus pilot projects for North Sea wind interconnectors Indonesia announces plans for 75GW renewable energy expansion over 15 years MDBs pledge $120 billion for low-income nations at COP29 Nordex secures order for 19 turbines for Québec wind project Enphase Energy launches AI-powered DIY permitting on Solargraf Elcogen secures €24.9 million EU grant for hydrogen tech expansion ADB approves USD 311 million loan for Nepal’s T&D infrastructure upgrade India: Power Grid…

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Nordex secures order for 19 turbines for Québec wind project

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The Nordex Group has received an order to supply 19 N163/5.X wind turbines for an undisclosed wind farm in Québec, Canada.  Scheduled for delivery in summer 2026, the turbines will be mounted on 125-meter tubular steel towers and equipped with Nordex’s Advanced Anti-icing System, designed for cold climates to enhance performance during winter.  This order is part of Nordex’s efforts to support high electricity production in colder regions. The Nordex Group, with over 53 GW…

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Indonesia announces plans for 75GW renewable energy expansion over 15 years

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Indonesia has revealed plans to attract international investment for the development of 75GW of renewable energy within the next 15 years.  The announcement, made at COP29 in Baku by Indonesia’s climate envoy, Hashim Djojohadikusumo, underscores the new administration’s goal to implement 100GW of new energy, with 75% dedicated to renewables like solar, hydro, geothermal, and potentially nuclear energy. With over 90GW of current power capacity, largely coal-based, Indonesia is pushing to reach carbon neutrality by…