NEOM Green Hydrogen Company (NGHC) has announced that, following the signing of financial documents with 23 local, regional, and international banks, and investment firms, it has now achieved financial close on the world’s largest green hydrogen production facility at a total investment value of $8.4 billion. The plant is currently being built at Oxagon, in Saudi Arabia’s NEOM region.
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Australia and the US have announced a bilateral agreement to collaborate on legislation to aid the green energy transition in both countries with a new compact. The Climate, Critical Minerals, and Clean Energy Transformation Compact will see the two countries adopt shared energy goals and policies. This will in effect allow Australian green businesses to benefit from subsidies and protections provided to US companies under the Inflation Reduction Act.
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Masdar, a UAE-based energy company, has inked a joint development agreement with Uzbekistan’s Ministry of Energy and Ministry of Investments, Industry, and Trade to develop 2 GW of renewable energy and 500 MWh of solar, wind, and battery storage projects across the Central Asian country. With 7 GW of solar and 5 GW of wind capacity, Uzbekistan aims to achieve 25 per cent of its energy needs from renewables by 2030.
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Holosolis, a French renewables firm formed by EU independent body EIT InnoEnergy, has announced intentions to build a 5 GW solar photovoltaic (PV) module assembly plant in northeast France. The facility will start producing its first modules in 2025, and by 2027, it will be operating at its full 5 GW capacity. It will be located at Sarreguemine in northeast France, close to the country’s border with Germany.
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Bruc, a Spanish renewable energy firm, has completed the purchase of eight new solar photovoltaic (PV) power producing units from Opdenergy. The projects have a total capacity of 444 MW. The agreement was struck between Bruc and Opdenergy in August 2021, and it includes the sale of 20 solar PV power production units totaling 1.1 GW of capacity. The latest power assets transferred to Bruc are located in the provinces of Valladolid and Zaragoza
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SunAsia Energy, a Philippines-based solar developer, and Blueleaf Energy have been selected by the Philippines’ Department of Energy to build and operate six large-scale floating solar projects totalling 610.5 MW. The plants will be installed on Laguna Lake. The department has issued solar energy operating contracts for 1.3 GW of floating projects
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Apex Clean Energy and Powin, the developer of energy storage platforms, have decided to collaborate on the development of two new battery storage projects in Texas. The projects, known as Angelo Storage and Great Kiskadee Storage, will assist grid reliability in the Energy Reliability Council of Texas (ERCOT) market and have a total capacity of 400 MWh. The 195 MW Angelo solar project will be constructed next to Angelo Storage.
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ABB has announced a collaboration with Lhyfe and Skyborn to jointly implement and optimise the SoutH2Port renewable hydrogen project in Sweden. In the SoutH2Port project, ABB will collaborate with Lhyfe and Skyborn to drive large-scale integration of offshore wind renewable energy production of hydrogen into the power system.
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Sonnedix, a renewable energy provider, has signed a ten-year power purchase agreement (PPA) with internet services giant Equinix to supply power from three 150 MW solar projects in Spain. Reportedly, the PPA is Sonnedix’s largest deal ever in Europe. The solar plants are located in Cuenca, Castilla-La Mancha. They will be operational by the end of 2024 and will have a total capacity of 150 MW.
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GE has secured a contract from Red Eléctrica to supply six pumped storage turbines for the 200 MW Chira Soria pumped storage power plant in Gran Canaria, Spain. The contract was secured in a consortium with Cobra Infrastructuras Hidráulicas. Red Eléctrica is the sole transmission agent as well as the operator of Spain’s national electricity system. GE will commission, design, supply and transport the turbines and deliver generators, main transformers and electrical balance-of-plant equipment.
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European Energy’s North American division, EE North America, has purchased a majority stake in two solar projects in the US state of Colorado – Sandy Hill and Sand Dune – which total 700 MW. The projects have been acquired in a joint venture with Horus Energy. The acquisition, the value of which was kept under wraps, marks EE North America’s entry into the Colorado market.
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Plug Power Inc and South Korea’s SK E&S have pledged to spend KRW 1 trillion to build a gigafactory for hydrogen facilities and a research facility in South Korea. As per the statement, it will inject KRW 510 billion into the project, while US-based turnkey hydrogen solutions provider Plug Power will cover the remaining KRW 490 billion. The investment will be made by the duo’s SK Plug Hyverse joint venture (JV).
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RWE Renewables Europe & Australia, a subsidiary of German electric utility RWE, has won a competitive tender to build a 50 MW/400 MWh battery energy storage system in New South Wales, southeast Australia. In Balranald, New South Wales, the battery will be installed next to the 249 MW Limondale solar farm, which is owned by RWE. Limondale has 770 hectares and has been in operation since 2021. RWE expects to announce the project’s final investment decision by May 2024.
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Toyota Tsusho, an affiliate of Toyota, has completed the acquisition of an 85 percent stake in SoftBank Group’s renewables arm SB Energy. SB Energy has been rebranded as Terras Energy and has become a subsidiary of Toyota Tsusho. The remaining 15 per cent of the company is owned by SoftBank. With nearly 4.5 GW of capacity, Terras Energy is anticipated to be amongst Japan’s biggest wind and solar power providers. This comprises 1.02 GW of solar energy and 3.18 GW of wind power.
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Atlas Renewable Energy, a US renewable energy company, has reached a 21-year power purchase agreement (PPA) with Brazilian aluminium producer Albras to supply solar power. Atlas will supply the energy from the 902 MWp Vista Alegre photovoltaic project in the state of Minas Gerais in Brazil. It is expected to begin operations in 2025 and will produce 2 TWh of clean electricity per annum.
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Avaada Group announced that it has raised $1.07 billion to fund its green hydrogen and green ammonia ventures in India as a part of its ongoing $1.3 billion fundraise plan. Brookfield Renewable, through its Brookfield Global Transition Fund, will be investing up to $1 billion in Avaada Ventures Private Limited. Global Power Synergy Public Company Limited will further invest $ 68 million in Avaada Energy Private Limited for releasing debt obligations and supporting the growth.
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By 2030, a group of seven German energy companies plans to construct 10 GW of green hydrogen producing capacity. The agreement falls in with Germany’s hydrogen targets for the same time frame. The companies, including steel magnate Salzgitter and the German wing of oil and gas giant BP, announced the agreement with the goal of replacing gas-based “grey” hydrogen with solar and wind-based “green” hydrogen in German heavy industry.
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TenneT, the German transmission system operator, has granted $32 billion in contracts to three consortia for the development of North Sea offshore grid connections. The contracts, which cover the production and installation of 14 offshore grid connection systems, were signed with the consortia of GE/Sembcorp, GE/McDermott, and Siemens Energy/Dragados. This will produce enough offshore power transmission capacity from the German and Dutch North Seas to power 28 large-scale power plants.
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Crossroads Agriculture, a subsidiary of Soloviev Group, has announced plans to construct two solar projects with a combined capacity of more than 1 GW in Colorado, US. No financial details were disclosed, although Crossroads expects electricity costs to be notably lower than from the coal-fired power plants they will replace. The projects have the capacity to power nearly 250,000 US households.
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The Port of Rotterdam Authority is building an 11-hectare (ha) site on the Maasvlakte that will be suitable for a green hydrogen plant capable of producing up to 1 GW. The facility can accommodate up to 1 GW of electrolysis and is next to the proposed location of the Tennet Amaliahaven (380kV) high-voltage cable.
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