Category: Big Moves

IKEA to promote renewable energy procurement at its suppliers in various nations

Swedish furniture company IKEA has recently announced a program to secure 100 per cent renewable electricity at direct suppliers in India, China, and Poland, which are some of its largest purchasing countries. The said program will be introduced in 2021, followed by a stepwise global roll-out. As more than 65 per cent of the company’s climate footprint is linked to its supply chain, it is aiming for 100 per cent renewable energy throughout its entire value chain.

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Enel Green Power announces commercial operation for 716 MW wind farm in Brazil

Enel Green Power has announced the launch of commercial operations of its 716 MW Lagoa dos Ventos wind farm in Brazil. The project was developed at an estimated investment of BRL 3 billion ($592 million) by the company’s subsidiary, Enel Green Power Brasil Participacoes Ltd. The plant is located in Brazil’s north-eastern state of Piaui and is equipped with 230 turbines which are expected to generate more than 3.3 TWh of electricity annually.

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Siemens Gamesa sets a roadmap for cheaper green hydrogen

A new white paper entitled “Unlocking the Green Hydrogen Revolution”, has been released by Siemens Gamesa, which sets out a roadmap to drive down the cost of green hydrogen production within the next decade. The paper outlines the path needed to ensure that green hydrogen becomes a mainstream energy source.

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North Carolina sets an 8GW offshore wind target for 2040

North Carolina has set development targets for offshore wind. The state plans to set up 2.8 GW of offshore wind by 2030 and 8 GW by 2040. These targets were set under an executive order issued by Governor Roy Cooper highlighting North Carolina’s commitment to offshore wind power as the state transitions to a clean energy economy. Achieving these goals is expected to power roughly 2.3 million homes by 2040.

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India’s Solex orders 1.2GW solar production line

Gujarat-based Solex Energy has signed a deal for 1.2 GW of solar module production equipment from China-based Jinchen Machinery. According to the manufacturer, the 600 MW first phase of the fab will be commissioned by October 2021. A memorandum of understanding signed with Jinchen stipulates the installation of phase two will begin as soon as the initial production capacity goes into operation.

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SGH2 signs world’s largest green hydrogen offtake deal

The waste-to-hydrogen company, SGH2 Energy has announced that it will supply 3,850 tonnes of green hydrogen annually to two of California’s largest owners and operators of hydrogen refueling stations under a ten-year contract. The deal represents the first and only long-term green hydrogen off-take agreement thus far globally. The plasma-enhanced gasification plant is scheduled to open in 2023 and will be owned jointly by SGH2 and the city of Lancaster.

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Acciona to float IPO for its renewable energy subsidiary in Spain

Acciona SA has announced its intention to float its renewables subsidiary, Corporacion Acciona Energias Renovables SA, or Acciona Energia, on domestic stock exchanges. The company reported that the registration document for the initial public offering process has been approved by Spanish market regulator CNMV. Acciona Energia will be listed under the ticker symbol ANE and trade its shares on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges.

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Congo finalises $100 million solar-hybrid power deal with Gridworks

Republic of Congo signed a solar-hybrid power deal worth $100 million with a consortium led by Gridworks. This power deal aims to provide electricity to the cities Gemena, Bumba and Isiro, which are not currently connected to the national grid. This power is expected to reach more than half a million people. The company providing electricity will be called Moyi Power.

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Lekela Power plans to add storage to its Taiba N’Diaye wind farm in Senegal

Lekela Power is making progress with the construction of an electricity storage system at its Taiba N’Diaye wind farm in Senegal. The independent power producer (IPP), a joint venture between UK investment fund Actis and Mainstream Renewable Power, has selected DNV to conduct the feasibility study for the project. The facility, located in the Tivaouane division, has a capacity of 158.7 MW.

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Posco and Ørsted to produce hydrogen from wind power

Posco, a South Korean company and Ørsted, a Danish power company, will collaborate to produce hydrogen from electricity generated by wind energy. The two companies have signed a memorandum of understanding to evaluate the feasibility of producing green hydrogen in Incheon, South Korea, where Ørsted plans to build a wind power plant.

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TRIG acquires two Swedish wind farms totalling a capacity of 242 MW

TRIG, a London-listed investment company, has signed contracts to acquire a 50 per cent stake in two onshore wind farms, Ranasjö and Salsjö, which are in the pre-construction stage. The windfarms are about 20 km apart and share grid and access infrastructure. They are located near Sollefteåand about 100 km from Östersund, in the SE2 Nord Pool price area.

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India’s IREDA invites applications under PLI scheme

Indian Renewable Energy Development Agency (IREDA) has invited applications for setting up manufacturing capacities for high-efficiency solar photovoltaic modules under the production-linked incentive (PLI) scheme. As per the document, the applicants are required to set up either a brownfield or greenfield manufacturing facility for the entire capacity allotted under the scheme and are not allowed to set up a mix of both kinds of facilities. They would also be required to submit their response by indicating the yearly PLI values. The deadline for submitting applications is 30 June, 2021.

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Repsol enters US renewables sector with a stake in Hecate Energy

Spain-based Repsol has agreed to buy 40 per cent of Hecate Energy, a Chicago-based company specializing in the development of PV solar and battery projects for energy storage. The acquisition is Repsol’s first move into the US renewables market. The company will have the option of acquiring Hecate Energy’s outstanding shares three years after this transaction closes. Other terms were not disclosed.

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