Category: News

EnerVenue raises $100 million for its metal-hydrogen batteries

EnerVenue, a US-based renewable storage battery manufacturer, has secured $100 million in Series A investment round headed by Schlumberger New Energy. The funding will be used to build a gigafactory in the US, improve research and development, and boost sales. Saudi Aramco Energy Ventures and other investors participated in the financing round.

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Enfinity Global and CarVal Investors enter into a $300 million loan facility

Enfinity Global Inc., a renewable energy and services platform, and CarVal Investors have entered into a $300 million loan facility to facilitate the development of Enfinity’s 3 GW renewable energy portfolio. Enfinity reported that the facility aligns sustainable investment guidelines with the execution capabilities required to be a leader in the net-zero carbon economy,

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Indonesia receives $380 million loan for 1 GW hydropower plant

The Ministry of Energy and Mineral Resources in Indonesia has been awarded a $380 million loan by the World Bank, for the construction of the 1 GW Upper Cisokan Pumped Storage Hydropower Plant in Indonesia. The project has been under development since 1986 and entails a cost of $800 million.

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Enel Green Power ventures into Green Hydrogen in Chile

Enel Green Power has launched a pilot plant for the production of green hydrogen in Chile. The project is Chile’s first industrial-scale production plant of green hydrogen. The plant is located at Cabo Negro north of Punta Arenas and has a capacity of 1.25 MW. It will produce green hydrogen through electrolysis powered by a 3.4 MW wind turbine. The project also makes Enel Green Power’s first venture of green hydrogen to start construction globally. The plant is likely to be operational by 2022.

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Germany ratifies the ISA agreement

Germany has provided the International Solar Alliance (ISA) with the instrument of admission, after ratifying the alliance agreement. The ISA’s membership was formerly limited to sun-belt countries between the Tropic of Cancer and Tropic of Capricorn. Later, the membership was opened for countries outside the tropics. The major objective of the alliance is to encourage efficient solar energy utilisation in order to reduce dependency on fossil fuels.

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Aeris signs a $302 million contract with Nordex for wind turbine blades

Aeris Energy, a Brazilian wind blades manufacturer has signed a contract to supply blades for 2 GW of turbines to a unit of Germany’s Nordex SE. The deal was signed with Energy SE and Co KG and is effective until end-2023, representing a total value of $302 million. According to the statement, the agreement will convert two of its blades production lines to fit wind turbines with a power of more than 5 MW and also install a new manufacturing line for this same blade model.

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Infratil to foray into renewable energy across Asia

The infrastructure investment firm, Infratil, has announced an investment of $233 million to establish a renewable energy development business, Gurīn Energy. The new business will center around the development of greenfield renewable projects spanning across Asia, including North Asia, India and Southeast Asia.

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Blackfinch Renewables releases proposal for $413 million IPO

Blackfinch Renewables European Incomes Trust plc (BRET) has released the prospectus in relation to its planned $413 million initial public offerings (IPO) in the London Stock Exchange. BRET is a new closed-end investment trust based in Europe that will invest in renewable energy infrastructure. Blackfinch, a UK investment business, will be its investment manager.

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Hydrogen Production Center of Excellence to be established in New South Wales

Sweetman Renewables Limited and Singapore’s CAC-H2 Private Limited have entered into a joint venture to establish a hydrogen production center of excellence. The center will be located in Hunter Valley, New South Wales, Australia. The deal amounts to an investment of AUS $15 million from CAC-H2, in return for 80 per cent ownership in Sweetman Renewables.

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TansAlta Renewables acquires a 122 MW solar project in the US

TransAlta Renewables has acquired operational solar plants with a cumulative capacity of 122 MW located in North Carolina, the US. The portfolio consists of 20 solar photovoltaic plants ranging from 3.2 MW to 6.6 MW.  The portfolio will be acquired from a fund managed by the Copenhagen Infrastructure Partners for $96.65 million, subject to working capital adjustments and the assumption of existing tax equity obligations.

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Trine invests Euro 5 million in Solarise Africa

Swedish Investor Trine has announced an investment of Euro 5 million in Solarise Africa, a South African commercial solar leasing firm. The first round of debt financing, amounting to Euro 800,000 will finance five solar projects in the regions of Nairobi and Lake Victoria  (Kenya) and in Johannesburg and Polokwane (South Africa).

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Germany’s solar capacity increased by 2.75 GW in 1H 2021

According to the latest figures provided by the Federal Network Agency Bundesnetzagentur, Germany added 1.43 GW of solar capacity in the second quarter (Q2) of 2021. Compared to the previous quarter, solar installation increased by 113 MW (8.56 percent) in the second quarter, up from 1.32 GW. Installations increased 15% year over year to 1.24 GW in Q2 2020, compared to 1.24 GW in Q2 2019.

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SIMA forms an energy access fund to assist off-grid solar companies

Social Investment Managers and Advisors (SIMA) has launched the Energy Access Relief Fund (EARF) with a first closure of $68 million and a target closing of about $84 million by the end of the year. The fund intends to help off-grid solar firms and ensure that over 20 million people in Sub-Saharan Africa and Asia have access to energy. SIMA will use this fund to give relief loans to institutions who are experiencing financial issues due to COVID-19 disruptions.

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New rules for renewable energy auctions in Ukraine

The Ministry of Energy in Ukraine has drafted a new law to set up an auction scheme for large-scale renewables. The new regulations have been introduced to provide technology-neutral, feed-in-premium payments to renewable energy plant operators, in addition to the wholesale electricity price under contracts for difference. 

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Sudan invites expressions of interest for the deployment of 1,170 solar irrigation pumps

The Ministry of Energy and Petroleum of Sudan has announced a call for expressions of interest from consultants to support the deployment of 1,170 solar-powered irrigation pumps across two states of the country. The pumps will be installed on farms in North Kordofan, in the center of the East African nation, and further south in the West Kordofan region. The last date to apply for consultants is September 14, 2021.

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