Category: Big Moves

RNEL and Caeulx collaborate for solar technology

Reliance New Energy Limited (RNEL), a wholly owned subsidiary of Indian conglomerate Reliance Industries Limited has signed definitive agreements to invest in California-based Caelux Corporation. The agreement calls for the companies to collaborate on the development of perovskite-based solar technology. RNEL will invest $12 million to obtain a 20 per cent stake in Caelux. This investment will help Caelux accelerate product and technology development.

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Amazon expands its renewable energy portfolio with firsts in Brazil, India, and Poland

Amazon has added 71 new renewable energy projects to its portfolio, including its first renewable energy project in South America—a 122 MW solar farm in Brazil—and its first solar farms in India and Poland. In India, Amazon is planning to install three large-scale projects. All three are solar projects in Rajasthan, representing 420 MW of clean energy capacity. Amazon is also expanding its clean energy capacity in North America by 1 GW.

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First Solar secures large module supply contract in India

First Solar, a US based manufacturer has reached an agreement with Azure Power Global Limited to provide 600 MW DC of its high-performance, cutting-edge thin film photovoltaic (PV) solar modules. The arrangement is the first for First Solar’s new manufacturing facility in Tamil Nadu, India, which is set to open in the second part of 2023.

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Matrix Renewables acquires 4.6 GW solar portfolio from SolarStone

Matrix Renewables, a Spanish energy company, has purchased a 4.6 GW portfolio of utility-scale solar energy projects spread across the central US. For an undisclosed sum, the company bought the portfolio from SolarStone, a US-based provider of solar energy. In addition to the acquisition, Matrix and SolarStone Partners have agreed to establish a larger joint venture for development.

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Statkraft and Umicore sign long-term PPA for onshore wind power

Statkraft, the Norwegian state-owned energy company, has signed a power purchase agreement (PPA) with Umicore, a Belgian materials technology company. In order to power Umicore’s facility in Kokkola, Finland, the PPA will assure an annual supply of 60 GWh of clean energy from 2024 to 2033. The clean energy will be supplied from the Nuolivaara wind farm in northern Finland and will be accredited with assurances of origin.

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ACCIONA Energía to purchase 50 per cent stake in Blue Circle

Acciona Energía, a subsidiary of Spanish infrastructure company Acciona, has agreed to purchase roughly 50 per cent of Singapore-based wind project developer the Blue Circle. In accordance with the conditions of the agreement, Acciona Energía will invest $34 million in the company and grow to be its largest shareholder.

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Neoen plans to construct 1 GW BESS project in Australia

Neoen Australia, a producer of renewable energy, has submitted planning documents for the construction of a stand-alone 1 GW / 4 GWh battery energy storage system (BESS) near Collie, Western Australia. Reportedly, the big battery would be constructed on a 31-hectare location 12 km to the northeast of Collie and 215 km to the southeast of Perth.

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Correlate Infrastructure plans to acquire Aegis Renewable Energy

Aegis Renewable Energy has signed a non-binding letter of intent to be acquired by US-based energy technology company Correlate Infrastructure Partners. The agreement aims to expand Correlate’s market share in the US North-East renewables market. Aegis is based in Vermont and provides engineering, procurement, and construction (EPC) services for solar assets in the eastern US.

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Ilmatar to construct 550 MW solar power park in Sweden

Ilmatar Solar, a subsidiary of the Finnish energy company Ilmatar, has announced plans to build a 550 MW solar park in Sweden. Reportedly, the project will be constructed in the municipality of Motala, Stergötland. Once completed, it will produce enough energy to power 32,000 local homes. To build the facility, Vinnergi, a consulting firm, and Ilmatar Solar inked a contract

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Vena Energy to launch offshore wind projects in Taiwan

In order to participate in Taiwan’s Phase III Offshore Wind Zonal Development auction, Singapore-based energy company Vena Energy intends to start two offshore wind projects with a total capacity of 1.8 GW. The Wei-Na wind project will be outside Changhua County, while the Wei-Long wind project will be situated offshore from Miaoli County.

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Aquila secures financing for 2.6 GW renewable projects in Europe

Aquila Clean Energy EMEA, Aquila Capital’s European clean energy development platform, has completed a EUR 1 billion construction facility with funding from the Invest EU programme. Over the next three years, the funding will help in the development and construction of the company’s renewable energy pipeline in Spain and Portugal.

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DEWA receives bids for sixth phase of Dubai solar park

The Dubai Electricity and Water Authority (DEWA) notified that it has received bids from four international firms for the consultancy contract for the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The company stated that the next phase of the 5 GW field will have a power generation potential of 900 MW. After completion of the project in 2030, it is expected to have a capacity of 5 GW of solar and concentrating solar power (CSP) capacity.

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Zinc8 to set up zinc-air batteries production facility in the US

Zinc8 Energy Solutions has notified the development of its first commercial production facility in Ulster County, New York. According to the company’s study, the recently announced US Inflation Reduction Act facilitates manufacturing production credits that provide distinct and direct benefits to Zinc8 impacting its US production plans. Zinc8 Energy Solutions has created a proprietary flow battery technology that it claims can deliver power ranging from 20 kW to 50 MW.

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Reliance to obtain majority stake in SenseHawk

Indian conglomerate Reliance Industries Limited (RIL) has signed definitive agreements to obtain a significant stake in SenseHawk for a total transaction value of $32 million. The transaction includes funding for future growth, product commercialisation, and research and development. The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022.

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First Solar to invest $1.2 billion to increase PV production in US

First Solar, a US-based solar energy company, has announced plans to invest up to $1.2 billion to increase the production of photovoltaic (PV) solar modules in the US. By 2025, the investment is anticipated to expand the domestic market’s capacity for American-made solar modules by more than 10GWdc. In the South-East of the US, First Solar plans to construct a production facility with the ability to produce 3.5GWdc of PV modules annually.

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Globeleq and Government of Egypt partner to develop a large-scale green hydrogen project 

In order to jointly develop a large-scale green hydrogen facility within the Suez Canal Economic Zone, Globeleq, based in Africa, has signed a MoU with the New and Renewable Energy Authority (NREA), the General Authority for Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt for Investment and Development (TSFE), and the Egyptian Electricity Transmission Company (EETC).

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US DoE plans lithium-ion battery recycling program

The US Department of Energy (DOE) has released a Request for Information (RFI) to help guide the execution of $335 million in funding from President Biden’s Bipartisan Infrastructure Law for lithium-ion battery recycling programs. The DOE’s announcement of $3.16 billion in financing from the Bipartisan Infrastructure Law in May 2022 is expanded upon in the RFI.

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Denmark and Germany partner to build Bornholm Energy Island

The governments of Germany and Denmark have agreed to enhance the capacity of Bornholm Energy Island, an offshore wind hub in the Danish part of the Baltic Sea. As per the agreement, a 470 km underwater cable will be used to transmit renewable energy from the energy island via an increase in capacity from 2 GW to 3 GW.

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OX2 sells stake in 9 GW Swedish offshore wind portfolio to Ingka

OX2, a developer of renewable energy projects, has sold its 49 per cent stake in three offshore wind projects in Sweden with a combined capacity of 9 GW to Ingka Investments, the investment division of the Ingka Group. OX2 will receive an initial payment of $56 million in accordance with the provisions of the agreement.

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RWE buys Alpha Solar with 3 GW pipeline

RWE, a German energy company, has acquired Alpha Solar, a Polish PV development company with a 3 GW utility-scale solar project pipeline. Alpha Solar, a Warsaw-based company, has professionals on staff who work on every step of the solar development process, from land acquisition to preparing it for construction. The company has three local offices in Inowrocaw, ód, and Rzeszów. 

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