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Chubu Electric increases stake in OMC Power to over 35%

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Japan’s Chubu Electric has increased its investment in OMC Power, raising its stake from 20% to over 35%, becoming the largest shareholder.  This additional funding will support OMC Power in commissioning 100 MW of energy transition projects and expanding operations in India and South Africa. OMC Power currently operates over 500 clean energy plants, supplying power to telecom towers, institutional rooftops, commercial and industrial sectors, and providing power distribution to rural and underserved areas. Mitsui…

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Scatec achieves financial close for South Africa’s 103 MW Mogobe BESS

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Scatec has reached financial close for its 103 MW/412 MWh Mogobe battery energy storage system (BESS) in South Africa. The project, Africa’s first and largest standalone dispatchable BESS, is set to begin construction near Kathu in the Northern Cape. Scatec holds a 51% equity share, with Perpetua Mogobe (RF) owning 46.5%, and the Mogobe Local Community Trust holding 2.5%. The Mogobe BESS was awarded a 15-year power purchase agreement (PPA) under South Africa’s battery energy…

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South Africa partners with BRICS nations to tackle energy crisis

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South Africa is addressing its energy crisis through partnerships with BRICS nations to enhance its power infrastructure. The New Development Bank (NDB) has already pledged USD 5 billion to support South Africa’s energy transition, including financing the construction of 14,000 km of new electricity transmission lines by 2030. This expansion is essential to accommodate the country’s goal of increasing renewable energy generation to 55 GW by 2032. NDB will leverage the experiences of China, Brazil,…