Category: Big Moves

Ingka Group acquires 15 per cent stake in Golden Plains wind farm in Australia

Ingka Group, the Swedish holding company that owns the majority of IKEA stores worldwide, has acquired a 15 per cent share in the Golden Plains wind farm in Victoria, Australia.   Reportedly, the company also plans to engage in green energy projects in South Korea, China, Japan, and India. TagEnergy is constructing the Golden Plains facility, and the first phase of the project, with a 756 MW capacity, has completed financial close.

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Amazon procures record 8.3 GW of clean energy in 2022

Amazon has recently announced that in 2022 it grew its renewable energy capacity by 8.3 GW through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. With these continued investments, reportedly, Amazon set a new corporate record for the most renewable energy announced by a single company in one year.

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Iberdrola receives environmental permit for 1.2 GW solar farm in Portugal

Iberdrola, a Spanish power utility, has received environmental permissions for the 1.2 GW Fernando Pessoa solar project in Portugal. The Fernando Pessoa project is said to be the fifth-largest solar photovoltaic plant in the world and is situated at Santiago do Cacém, near Sines. It will feature Prosolia Energy as a partner and is anticipated to go operational in 2025. During the construction phase, the Fernando Pessoa project will provide up to 2,500 jobs in the region.

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NSW shortlists 4.3 GW of wind, solar and storage projects in first renewables auction

The government of New South Wales (NSW) has shortlisted 16 projects for its first renewable tender auction in Australia. The projects’ combined power generation and long-term storage capacity total more than 4.3 GW. They were selected in line with the NSW Electricity Infrastructure Roadmap, which aims to build 2 GW of duration storage and at least 12 GW of renewable capacity in the state by 2030.

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GreenGo Energy to develop Megaton green energy park in Denmark

GreenGo Energy, a Danish company, has teamed with the municipality of Ringkbing-Skjern to develop a 4 GW green energy park. The Megaton project, located in the municipality of Ringkbing-Skjern, will be constructed at the upcoming Stovstrup substation east of Tarm. Its construction will require an investment of $8.7 billion in total. In addition to a 2 GW offshore wind project that GreenGo intends to develop, the 4,000 ha Megaton energy park will also include onshore solar and wind projects.

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Equinor, bp bid to expand offshore wind project off New York

Equinor and BP have joined forces to bid in New York’s third offshore wind solicitation (NY3), having submitted a request to the New York State Energy Research and Development Authority (NYSERDA). The companies will compete in the NYSERDA auction for the Beacon Wind II lease area, which has more than 1.3 GW of potential clean energy capacity. Beacon Wind II, located 60 miles from the Long Island coast, has the capacity to provide clean energy to over one million homes in New York while creating ‘thousands’ of employment in the region.

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Hexicon wins grid permits for 7.1 GW of floating wind in Italy

Hexicon AB, a Swedish floating wind specialist, has been granted permission to connect six floating wind facilities in Italy with a total capacity of 7.1 GW to the national grid. Reportedly, the permits were granted by Italian transmission system operator (TSO) Terna SpA. The Swedish developer is active in Italy through AvenHexicon, a 50-50 joint venture with local renewables developer Avapa Energy Srl.

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Longroad Energy receives financing for solar and BESS project

Longroad Energy, a US-based renewable developer, has reached financial close on Sun Streams III, a 285 MWdc photovoltaic (PV) and 215 MWac/860 MWh storage project. The Sun Streams III project, which is situated in Maricopa County, Arizona, is anticipated to start operating in 2024. The project’s debt financing was led by CIBC and Keybank, with participation from ANZ, Commerzbank, PNC, and Silicon Valley Bank.

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Masdar to construct renewable energy projects in Azerbaijan

Masdar, an energy company based in the UAE has inked agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR) to develop 4 GW of wind and solar power capacity integrated with green hydrogen projects. The agreements were inked on the sidelines of Abu Dhabi Sustainability Week, a worldwide platform to accelerate sustainable development organised by Masdar. SOCAR seeks to increase Azerbaijan’s energy security as the country’s integrated oil and gas company.

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Rays Power Infra commissions 275 MW solar PV project in Bangladesh

Rays Power Infra has announced the completion of a 275 MW(DC) grid-connected solar power plant in Sundarganj, Gaibandha, Bangladesh. The project, which spans 600 acres of land (ten times the size of the Sydney Cricket Stadium in Australia), will power 5 lac households in Bangladesh and offset over 375 billion tonnes of carbon dioxide emissions, equivalent to 250,000 fuel engine cars. The project is the single largest solar plant in the country, comprising over 500,000 installed Solar PV modules.

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Ørsted plans 15 GW of offshore capacity in Sweden

Ørsted has requested permission for building offshore wind projects in Swedish waters with a total capacity of 15 GW. This capacity is planned to be developed near Sweden’s southern tip and the Gulf of Bothnia in the north, and can be brought online in the next ten years. With the additional capacity, Ørsted hopes to lower power costs and encourage the growth of new green industries. Ørsted’s ongoing plan for 3 GW of renewable energy capacity in Sweden is complemented with the most recent plan.

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Engie to acquire 1.25 GW solar and storage project portfolio in US

Engie has purchased a 1.25 GW utility-scale solar and storage portfolio from Revolve Renewable Power, a Canadian startup. Through a share purchase agreement, Engie IR Holdings, a subsidiary of Engie, carried out the transaction. The solar and storage projects Bouse, with a 1 GW capacity, and Parker, with a 250 MW capacity, make up the acquired portfolio. Both projects are in Arizona’s La Paz County.

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Neoen begins constructing 400 MWh battery project in Australia

Neoen, a French renewable energy provider, has issued notice to proceed to a consortium comprising Elecnor and NHOA to commence construction of its Blyth Battery in South Australia. The 200 MW/400 MWh battery will be constructed close to the Blyth West substation and connected to the transmission system of ElectraNet. ElectraNet operates a high-voltage transmission network in South Australia, transporting power from traditional and renewable generators over long distances.

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Equinor and RWE to construct large-scale value chains for low carbon hydrogen 

Equinor and RWE have decided to collaborate on creating offshore wind farms capable of producing green hydrogen in order to establish value chains for low-carbon hydrogen. In order to replace coal-fired power plants in Germany with gas-fired power plants that are still prepared to use hydrogen, the partners intend to build a low-carbon, renewable hydrogen production facility in Norway.

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CSI Energy receives 550 MWh battery storage order in UK 

CSI Energy Storage, a subsidiary of Canadian Solar, has won a contract to supply up to 550 MWh of battery storage capacity to Pulse Clean Energy in the UK. The 550 MWh of capacity has CSI Energy Storage’s proprietary SolBank system and will be installed at several of Pulse’s locations. In the UK, Pulse has established a pipeline of grid-scale battery storage and energy optimisation projects with a combined capacity of more than 2 GWh. 

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Hannon Armstrong finances AES’ 1.3 GW renewable portfolio

Hannon Armstrong Sustainable Infrastructure Capital (HASI), a US-based energy investment company, has invested in two grid-connected renewable energy assets that are owned and operated by electricity provider AES. The company has invested in a 1.3 GW portfolio of renewable energy projects, including solar and wind projects created, owned, and managed by AES. Additionally, it plans to buy a 49 per cent stake in the portfolio, which consists of one wind project and 17 current solar projects. 

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Brazil connects 6.5 GW of non-hydro renewables in 2022

According to the power sector regulator Aneel, Brazil has approved 6,504.7 MW of wind, solar, and biomass power facilities to start operating in 2022. In total, the country added 8,235.1 MW of capacity in 2022, far exceeding the goal of 7,625 MW established for the relevant time. Wind farms supplied 2,922.5 MW, while solar and biomass-fired plants supplied 2,677.3 MW and 904.9 MW, respectively. The remaining 1,355.7 MW and 374.6 MW were generated by thermal power facilities using fossil fuels.

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Boralex acquires a 50 per cent stake in five wind farms

Boralex has finalised the acquisition of a 50 per cent stake in five functioning wind farms totaling 894 MW in the US from EDF Renewables. These projects include the 50 MW Milo and 250 MW Roosevelt developments in New Mexico, as well as the 200 MW Hereford, 200 MW Longhorn, and 194 MW Spinning Spur projects in Texas. Each location was put into service between 2014 and 2016, and all of them feature Vestas turbines, with Hereford also comprising machines from GE Renewable Energy. 

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ACWA Power signs $2.4 billion wind energy PPA agreement in Uzbekistan

ACWA Power, a Saudi developer, has signed PPAs and investment agreements with the government of the Republic of Uzbekistan to build the 1500 MW Kungrad wind farm in Karakalpakstan, Uzbekistan. The wind farm, which was previously known as the Karakalpakstan Wind IPP, is anticipated to include three 500 MW wind power projects owned by three subsidiaries. 

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RWE Renewables to start 835 MW green hydrogen project in Chile

RWE Renewables, a subsidiary of the German energy company RWE AG, has started work on its first green hydrogen project in Chile, with plans to add approximately 835 MW of electrolysis capacity. The project, known as Vientos Magallanicos or the Winds of Magallanes, will also include 1 GW of wind farms to supply electricity for the electrolysis process.

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