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Acadia leads $9bn renewable energy initiative with Microsoft

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US-based investor Acadia Infrastructure Capital, along with major companies including Microsoft, has launched a $9 billion initiative to develop renewable energy projects across the United States.  The initiative, known as the Climate and Communities Investment Coalition (CCIC), aims to accelerate corporate-led financing for renewable energy projects and is expected to facilitate the development of 5GW of renewable power by 2029. The CCIC will focus on providing tangible benefits to local communities, including affordable clean energy…

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Solar Landscape raises $847 million for rooftop solar projects

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Solar Landscape, a US-based commercial and community solar developer, has raised $847 million in project investment and financing in 2024.  This funding will support the deployment of over 200 rooftop solar installations across the country.  Additionally, the company has secured contracts for developing solar projects on 40 million square feet of commercial and industrial rooftop space. The financing was raised through partnerships with 10 investors and counterparties, including KeyState Renewables, Silicon Valley Bank, Prologis, and…

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Davidson Kempner and NIC acquire Greencells’ solar and storage platform

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Davidson Kempner Capital Management and Nature Infrastructure Capital (NIC) have jointly acquired Greencells Group’s Netherlands-based solar and storage project development platform.  The platform specializes in utility-scale solar and battery projects across Europe and Canada, with a development pipeline of 4 GW. Financial details of the acquisition have not been disclosed. The platform has grown significantly since 2019, now boasting nearly 800 MW of ready-to-build projects.  Under the new ownership, the platform aims to accelerate its…

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CREC and Sungrow sign agreement for 1.5 GWh BESS supply

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Citicore Renewable Energy Corporation (CREC) has signed a supply and services agreement with Sungrow for the development of Battery Energy Storage Systems (BESS) to support its solar power projects. Under the agreement, CREC will procure 1.5 GWh of BESS from Sungrow. Sungrow will also assist with the engineering and construction design of the BESS to optimize integration with CREC’s solar facilities. The Power Titan series from Sungrow will be utilized for this project, offering benefits…

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Amarenco secures €500 million in debt financing for solar projects across Europe

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Amarenco has secured €500 million in international debt financing from a consortium of lenders, including Intesa Sanpaolo Bank Luxembourg, Rabobank, Santander Corporate & Investment Banking, and Berenberg.  The funds will support the construction of solar projects in Spain, Portugal, Ireland, and Austria, as well as refinance existing debt. The agreement includes a €150 million accordion facility, designed to enhance Amarenco’s operational capacity, reduce financial risk, and improve project execution timelines.  Amarenco currently operates a solar…

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West Bengal invests Rs 24.5 billion in thermal plant upgrades and renewables

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The West Bengal government is investing Rs 24.5 billion to modernize three thermal power plants, Power Minister Aroop Biswas announced.  The Sagardighi plant upgrade will cost Rs 16.1 billion, Bandel Rs 6.5 billion, and Kolaghat Rs 1.9 billion. Plans include adding two 800 MW super-critical units at Sagardighi (1,600 MW total), a 660 MW unit at Bakreswar, and another 660 MW unit at Santaldih. Renewable energy projects include a 12.5 MW solar unit in Purulia…

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RWE acquires majority stake in R3 Renewables

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German energy group RWE has acquired a majority stake in R3 Renewables, a joint venture (JV) formed by US coal miner Peabody Energy, Summit Partners Credit Advisors (SPCA), and Riverstone Credit Partners.  The deal, for an undisclosed sum, involves RWE taking over the shares of SPCA and Riverstone Credit Partners, with Peabody retaining a 25% stake in the JV. R3 Renewables focuses on repurposing former coal mining sites into clean, renewable energy projects. The JV…

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BayWa r.e. sells 517 MW US solar portfolio in largest transaction to date

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BayWa r.e. has sold three solar projects in the United States, totalling 517 MWDC, to an undisclosed renewable independent power producer (IPP). The deal, finalized in October 2024, represents the largest portfolio sale in BayWa r.e.’s history. The projects are expected to be operational by the end of 2025. Situated in the PJM (Pennsylvania, New Jersey, Maryland) Interconnection and Midcontinent Independent System Operator (MISO) territories, these projects are contributing to local economies through job creation…

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NVVN awards 66 MW solar projects to Kirloskar Solar and Oriana Power

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NTPC Vidyut Vyapar Nigam (NVVN) has awarded contracts totalling 66 MW of solar capacity to Kirloskar Solar Technologies and Oriana Power. The projects, valued at Rs 2.91 billion, will be developed across multiple Indian states. Kirloskar Solar Technologies received contracts for 32.29 MW of ground-mounted solar projects and 14.74 MW of rooftop solar installations, amounting to Rs 2.08 billion. These projects will be set up in Chhattisgarh, Madhya Pradesh, Uttar Pradesh, Kerala, Gujarat, and Assam….

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Haryana DISCOM floats tender for 27 MW solar projects

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Dakshin Haryana Bijli Vitran Nigam (DHBVN) has issued a tender for 26.75 MW of decentralised, ground-mounted, grid-connected solar projects under Component A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) program. Bids are due by November 25, 2024. The Haryana Power Purchase Centre (HPPC) will purchase power from the projects at a levelised tariff of Rs 3.11/kWh, with 25-year power purchase agreements signed with successful bidders on behalf of DHBVN.