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Mirova to invest $518m in RP Global’s clean energy projects

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French asset management firm Mirova has committed €480 million ($518 million) to RP Global, an independent power producer (IPP), to advance its 2.5 GW pipeline of clean energy projects across Europe. The investment is split between the Mirova Energy Transition 6 (MET6) fund, providing €200 million, and an additional €280 million from a co-investment vehicle managed by Mirova. This partnership makes MET6 a significant minority shareholder in RP Global. Anne-Laure Messier, Mirova’s investment director, highlighted…

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Masdar and Presight to launch AI tool for managing assets globally

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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…

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IBM acquires Prescinto to enhance renewable energy asset management

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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…

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India needs fivefold growth in wind and solar by 2030 to meet 1.5°C climate goals, analysis finds

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A new analysis by Climate Analytics and the NewClimate Institute reveals that India needs to grow its wind and solar power generation fivefold by 2030 to align with global climate goals under the 1.5°C target. This would require generating around 1,100 TWh of electricity from wind and solar by the end of the decade. To achieve this, India would need significant international climate finance to support its transition away from coal, which currently generates 75%…

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Power sector installed capacity overview for August 2024

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As of August 2024, India’s total installed capacity reached 4,50,759.56 MW, covering coal, lignite, gas, hydro, nuclear, and renewable energy sources. The total installed capacity from renewable energy sources was 1,52,654.48 MW. In the State Sector, the installed capacity totalled 1,08,276.94 MW. Of this, 69,977.50 MW was from coal, while 27,254.45 MW came from hydro. Renewable energy contributed 2,602.62 MW to the state sector’s total capacity. In the Private Sector, the total installed capacity stood…