Masdar, an Emirati state-owned renewable energy company, has agreed to develop 2 GW of renewable energy capacity in Tanzania with the Tanzania Electric Supply Company (TANESCO). Abdulla Zayed, the head of Masdar Business Development and Investment, inked a joint development agreement with TANESCO managing director Maharage Chande.
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BP Alternative Energy Investments Limited (BPAEIL) and Marubeni have inked cooperation and participation agreements to build offshore wind projects and explore decarbonization initiatives, including hydrogen. As part of their relationship, the two companies will form a joint venture to pursue offshore wind business prospects in Japan.
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India-based ACME Solar Private Limited has launched a 50-50 joint venture with Scatec, a company based in Norway to design, construct, build, and operate a large-scale green ammonia production facility in Oman. The facility’s initial phase is projected to produce 100,000 tonnes of green ammonia per year, and it will be expanded to 1.2 million tonnes per year with around 3.5 GW of electrolyser capacity, which will be powered by a solar PV plant with a capacity of 5.5 GWp.
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Masdar and Taaleri Energia, a Finnish renewable energy developer plan to develop a 65 MW solar project in Greece through their joint venture for Central and Eastern Europe, Masdar-Taaleri Generation (MTG). The project will be locatedin the Viotia region, which is about 65 km north of Athens, and will be co-developed with local partners: the Constantakopoulos family and Autohellas.
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Talen Energy Corporation has entered a joint venture with Pattern Energy Group LP for expansion of its renewable energy portfolio. The new venture, PT Energy Transitions, will pursue the development, financing, construction and operation of approximately 1.4 GW of utility-scale renewable energy projects over the next five years.
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TechnipFMC has entered into an agreement with Magnora ASA to jointly pursue floating offshore wind project development opportunities. They have formed a new venture for this called Magnora Offshore Wind. The joint company, Magnora Offshore Wind, is already operational and will bid in the upcoming first offshore wind application round in Norway.
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AGP has formed a joint venture with Hartree and NaGa Solar to deploy solar projects across the UK, the Netherlands and Germany. The new venture, called AMPYR Solar Europe (ASE), aims to develop at least 4 GW of solar projects in these three nations. With this joint venture, the companies aim to combine AGP’s experience in developing large-scale renewable power projects, Hartree’s cutting edge power trading analytics and zero carbon solutions and NaGa’s in-depth local knowledge and land development prowess.
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Ares Management Corporation has announced that funds managed by Ares’ Infrastructure and Power group have acquired the 302 MW Lincoln Land Wind project, located in Morgan County, Illinois from Apex Clean Energy. This project builds upon the successful partnership history of these two companies and also demonstrates strong momentum in the industry, heading into 2021 through the wind project.
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Enel Green Power, a subsidiary of the Italian energy giant, Enel, has announced that it has signed a joint venture partnership with the Qatar Investment Authority to develop and exploit renewable energy resources in countries south of Saharan-Africa. Under the agreement, QIA will acquire a 50 per cent stake in four projects which are under construction and being developed by Enel Green Power in South Africa. Further, they will also acquire two operating plants in South Africa and in Zambia which will take the total acquired capacity to 800 MW.
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Dutch energy company Eneco and Danish European Energy have formed a new joint venture called Swan Wind. The two companies had joined forces so as to submit a proposal for the Thor offshore wind farm tender and Danish Energy Agency has recently qualified this joint venture for the said tender. Thor offshore wind farm is one of the two large offshore wind farms to be built in Denmark before 2030.
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United States based independent power producers Novatus Energy and Southwest Generation have announced the completion of their merger to create a new energy platform. The new platform, called Onward Energy, will continue under common ownership by institutional investors advised by J.P. Morgan Asset Management.
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A strategic partnership has been announced between United States-based hydrogen fuel cell provider Plug Power and the South Korean SK Group to promote hydrogen-based technologies in the Asian Market. Accordingly, SK Group will be investing $1.5 billion to acquire a 9.9 per cent pro forma ownership stake in Plug Power, thereby forming a joint venture company in South Korea. Plug SK Group’s US subsidiary will purchase around 51.4 million shares for $29.28 per share, and the transaction is expected to close in the first quarter of 2021.
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ReneSola Power, a leading fully integrated solar project developer, has signed a Memorandum of Understanding with the asset management firm Eiffel Investment Group with 3 billion Euros under management. As part of this agreement, the two companies will form a joint venture that will provide financing for ReneSola Power’s current and future solar projects across Europe.
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British electricity and gas supplier, Octopus Energy Group has announced a major strategic partnership with Tokyo Gas, one of Japan’s leading utilities to launch the Octopus Energy brand in Japan. It will be operated by TG Octopus Energy, a 30:70 joint venture backed by working capital and growth funding provided by Tokyo Gas.
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Red Rock Power Limited has acquired Green Investment Group’s 50 per cent equity share of Överturingen onshore wind farm located in central Sweden. Red Rock Power will partner with CapMan Infra, a Nordic infrastructure manager for this deal and will form the Cloud Snurran AB joint venture.
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Atlantic Shores Offshore Wind recently submitted a proposal to the New Jersey Board of Public Utilities for supply of 2,300 MW of offshore wind energy. The company is a 50-50 joint venture between EDF Renewables North America and Shell New Energies US LLC. The state of New Jersey seeks to award between 1,200 MW and 2,400 MW of offshore wind energy capacity as part of its second solicitation.
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Vårgrønn is a new joint venture company formed by global energy giant Eni and HitecVision, a Norwegian energy entrepreneur and investor. This new venture will focus on development of new green energy projects in Norway and the Nordic market, with a major role in the development, construction, operation and financing of these assets.
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Oslo-based leading independent renewable power producer, Scatec Solar, has signed a binding agreement with the Norwegian Investment Fund for Developing Countries (Norfund) to acquire 100 per cent of the shares in SN Power.
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