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Andhra Pradesh unveils policy to attract Rs 10 trillion investment for clean energy

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The Andhra Pradesh government aims to secure Rs 10 trillion in investments through its newly launched AP Integrated Clean Energy (ICE) Policy, focusing on solar, wind, and round-the-clock renewable energy projects to achieve net-zero carbon emissions by 2047. Chief Minister N Chandrababu Naidu announced the policy, which offers incentives such as affordable land acquisition and power subsidies for specific sectors. The ICE Policy includes a target of developing 78.5 GW of solar capacity, 35 GW…

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EIB and Intesa Sanpaolo launch €8 billion wind sector initiative

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The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind farm supply chains and grid…

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SSE and FuturEnergy submit plans for Irish wind farm

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SSE Renewables and FuturEnergy Ireland have submitted a planning application for the 122 MW Cummeennabuddoge wind farm to An Bord Pleanala, Ireland’s national planning authority. The project, located 5km northwest of Ballyvourney on the Cork-Kerry border, aims to power 81,900 homes annually and contribute to Ireland’s clean energy goals. The 17-turbine wind farm could produce 375,000 MWh of electricity per year, displacing 4.5 million tonnes of carbon emissions over its lifespan. The project will generate…

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Vestas and Fortum settle arbitration over Russian wind energy projects

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Danish wind turbine manufacturer Vestas and Nordic energy company Fortum have settled their arbitration dispute regarding wind energy projects in Russia. Both parties agreed to drop all past, present, and future claims, with the settlement terms remaining confidential. The dispute began in 2022 when Fortum initiated arbitration at the International Chamber of Commerce in Stockholm. Fortum sought more than $218 million (€200 million) in compensation from Vestas for payments made on wind projects in Russia…