Big Moves
LG Energy Solution to build $5.5 billion battery manufacturing complex in US
LG Energy Solution, a South Korean provider of energy solutions, has announced plans to invest $5.5 billion in the construction of a new battery manufacturing plant in the US. The manufacturing facility, which will be built in Queen Creek, Arizona, will be the largest investment ever done in a standalone battery manufacturing facility in North America. It will have two facilities: one for producing cylindrical batteries for electric vehicles and the other to manufacture pouch-type lithium iron phosphate (LFP) batteries for energy storage systems (ESS).
News
First Solar receives 1.8 GW solar module contract from EDPR
First Solar, a US-based solar panel manufacturer, has received a multi-year order from EDP Renewables (EDPR) to supply advanced thin film photovoltaic (PV) solar modules with a total capacity of 1.8 GW direct current. The photovoltaic modules will be installed across all power initiatives created by EDP Renewables North America (EDPR NA) in the US, with deliveries scheduled to happen until 2028. In terms of installed capability, North America is regarded as the largest market for EDPR.
Interviews
Policy landscape presents challenges and opportunities: Invenergy’s Mick Baird
Invenergy was an early leader in the clean energy transition and has continually evolved to push the energy industry forward. What began as a largely thermal and wind business is now a full energy solutions provider with an array of new technologies, including solar, green hydrogen, desalination, and large-scale battery storage. While the technology has changed, our approach to responsibly siting clean energy projects that benefit a broad spectrum of stakeholders has remained the same.
Opinion & Perspective
Tech Firms Seal US Dominance in Corporate Clean Power Purchasing
US firms are the most prolific buyers of clean energy. They maintained their lead last year, purchasing over half the record 37 gigawatts of power sold to corporations globally. Technology giants Amazon, Facebook-owner Meta, Microsoft and Google are the world’s top buyers of clean power. Amazon is the runaway leader and the 25 gigawatts it has purchased to date almost equals the clean energy portfolio of a leading utility like NextEra Energy, which has about 30 gigawatts in active operation.
Mega Trends & Analysis
UK’s Transition from Coal to Clean Energy
The UK is now aiming to achieve complete decarbonisation of the power sector by 2035—a world-leading target. This ambition is even more impressive given that power demand in the UK looks set to halt its decline and begin to rise rapidly—doubling by 2050—as more of the UK economy electrifies. There is no single cause for the rapid decline of coal in the UK. Instead, the journey from fossil-fuel dependent to renewables champion can be attributed to five main factors: setting of ambitious short-term targets, the changing economics of coal, policy support for wind power, market reforms, and investments and innovations in the grid.
Policy Watch
US BOEM Proposes First Offshore Wind Auction in the Gulf of Mexico
On February 24, 2023, the Bureau of Ocean Energy Management (BOEM) published a Proposed Sale Notice (PSN) in the Federal Register that includes three proposed lease areas in the Gulf of Mexico for offshore wind development. One lease area is in the Lake Charles Wind Energy Area (WEA), offshore of Lake Charles, Louisiana, and two are in the Galveston WEA, offshore of Galveston, Texas.
Tech Talk
Integral Components: Market overview of solar inverters
The global solar inverter market is set to grow over the coming years owing to the massive deployments expected for utility-scale solar power consumption as well as solar deployments in residences, commercial establishments, industries, and institutions. The solar inverter industry is likely to be largely driven by technological improvements, increasing demand for solar power and cost reduction in components.
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Webinars & Videos
Critical Materials for Scaling Up Hydrogen
Hydrogen is expected to grow sevenfold to support the global energy transition, eventually accounting for 10 percent of total energy by 2050. A scale-up of this magnitude will affect demand for critical materials, including minerals and metals, needed for hydrogen technologies— electrolyzers for renewable hydrogen, carbon storage for clean hydrogen, or fuel cells using hydrogen to power transport.
Knowledge Centre
EV Charging Costs in US: Briefing
The study finds the total private and public sector costs of deploying the necessary charging infrastructure through 2030 are reduced when the availability of home charging is increased. The analysis shows that there is significant potential to provide a greater amount of the U.S. population with access to charging at home, and that doing so would be particularly cost-effective.
Finance
Sustainable Finance: Indian government concludes sovereign green bond sale of Rs 160 billion
In February 2023, the Indian government concluded the sale of Rs 160 billion in SGBs. The first tranche was released in January 2023, raising a total of Rs 80 billion. Of this, Rs 40 billion was raised for a five-year tenor (2028) at a yield of 7.1 per cent. The remaining Rs 40 billion was issued for a 10-year tenor (2033) at a yield of 7.29 per cent. The second tranche of SGBs was released in February 2023, also for Rs 80 billion, divided into two tranches of Rs 40 billion each.
SPONSORED CONTENT & ADS
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This space is reserved for sponsored content and advertising banners. Sponsored content can include white papers, webinars, case studies, research reports and other relevant content. The advertising can be in the form of banners with links to the advertiser’s landing page. If you would like to promote sponsored content or advertise, please write to us at: marketing@reglobal.co