CleanTech Report 2020.08.25

Global power industry M&A deals total $15.72 billion in Q2 2020.
South Korea to invest $46 billion in renewable energy by 2030.
Japan set to push past 2030 renewable energy target.
Saudi Energy Ministry to assist in development of Neom -- a $500 billion economic zone.

CleanTech Report August 25th 2020

M&A

Global Power Industry M&A Deals Total $15.72 Billion In Q2 2020

Investor Ideas

August 21, 2020 Total power industry M&A deals in Q2 2020 worth $15.72bn were announced globally, according to GlobalData’s deals database. The value marked a decrease of 24.4% over the previous quarter and a drop of 38.2% when compared with the last four-quarter average, which stood at $25.45bn. Comparing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $6.81bn. At the country level, China topped the list in terms of deal value at $4.73bn.

Solar Farms Snapped Up In Multimillion-Pound Deal

Insider Media

A portfolio of 15 solar plants, including sites in England and Wales, has been acquired for more than £105m.

Bluefield Solar, an income fund that invests primarily in solar assets, has snapped up the plants, which have a total installed capacity of 64.2 megawatt peak, for an initial £106.6m with a further £2.1m dependent on securing asset life extensions.

Brazil’s Omega Geração Buys Stake In EDF Renewables Wind Farms

Reuters

Renewable energy company Omega Geração SA announced a binding agreement on Sunday to acquire a 50% stake in wind farms owned by France’s EDF Renewables in the Brazilian state of Bahia. The assets in the Ventos da Bahia 1 and 2 complexes have a 182.6 megawatt capacity and the deal was valued at 661.7 million reais ($118 million), with Omega paying 55% in cash and the rest by taking over long-term debt, Omega said in a statement.

 

NORTH AMERICA

Southeastern U.S. Electricity Market Could Save $384 Billion And Create 400,000 New Jobs

Forbes

The Southeastern United States, one of the country’s only regions without a competitive wholesale electricity market, is dominated by monopoly utilities, which have favored expensive and polluting fossil fuel generation over cheap clean energy. Nearly all Southeast coal plants cost more to run than replacing them with new wind and solar, so continuing to run these uneconomic resources forces customers to foot the bill and inhale dirty air.

 

CIT Leads $162 Million Financing For Texas Solar Plant

3BL Media

CIT Group Inc. recently announced that its Power and Energy unit served as sole lead arranger on a $162 million financing for the East Blackland Solar Project in Travis County, Texas.The financing was arranged on behalf of Recurrent Energy LLC, a wholly owned subsidiary of Canadian Solar Inc. that functions as Canadian Solar’s U.S. project development arm.

 

Masdar Grows US Presence With EDF Renewables Partnership

ICLG

Abu Dhabi renewable energy company Masdar has taken advice from White & Case on purchasing a 50% cash equity interest in a clean energy portfolio from EDF Renewables, a subsidiary of French utility, EDF Group. Masdar, also referred to as the Abu Dhabi Future Energy Company, is a subsidiary of Mubadala Investment Company, a sovereign fund of the Government of Abu Dhabi in the United Arab Emirates. The clean energy portfolio, which has a capacity of approximately 1.6 Gigawatts and consists of three utility-scale wind farms located in Nebraska and Texas and five California photovoltaic solar farms, is one of the biggest renewable assets purchase in North America this year.

 

LATIN AMERICA

Virtual Chilean Forum On Renewable Energy Set To End

Foreign Brief

Due to its favourable climate, vast geography and abundant natural resources, Latin America accounts for nearly 10% of the world’s total installed renewable energy, which stood at 2,350 gigawatts (GW) in 2018. The region—particularly the Southern Cone—continues to elevate its production capacity, construct hydropower facilities and develop solar and wind infrastructure.

Colombia Will Continue To Increase Its Installed Capacity In Non-conventional Renewable Energy Sources

BN Americas

During the Public Audience of Accountability of the Ministry of Mines and Energy, corresponding to the period 2019-2020, Minister Diego Mesa Puyo anticipated that the country will have solar and wind energy projects for 2,800 megawatts installed or under construction in 2022, surpassing for the second time the goal of 1,500 megawatts in the incorporation of non-conventional sources of renewable energy, included in the National Development Plan.

Brazil’s Rio Grande Do Sul Licenses 27.4 MW Of Renewables Projects

Renewables Now

Fepam, the environmental protection agency in the Brazilian state of Rio Grande do Sul, last week licensed 27.36 MW of renewable energy projects, including its first solar plant. The government gave an operational licence (LO) to a 22.36-MW small hydropower plant (PCH) and a preliminary licence (LP) to a 5-MW photovoltaic (PV) scheme.

 

EUROPE

Germany’s RWE Rakes In $2.4 Billion To Fund Renewable Energy Expansion

Reuters

German utility RWE  on Tuesday completed a 2 billion euro ($2.4 billion) share issue to back its expansion into renewable energy, including its $480 million purchase of wind turbine maker Nordex’s project development pipeline.

Sunroof Buys Redlogger To Launch Renewable Energy Ecommerce Platform

Tech.eu

Swedish solar roof manufacturer SunRoof has acquired Redlogger, a Swedish company that develops hardware and software to support renewable energy producers. The plan is to launch a tech platform that sells surplus energy generated by SunRoof solar panels, starting with the Polish market.

Norwegian Fund Drops Exxon And Chevron Over Climate Lobbying

The Washington Post

A Norwegian pension fund said Monday that it is divesting over $47 million from 27 companies, including Exxon and Chevron, as part of its commitment to combating climate change. The fund warned other major oil and gas companies it might drop them as well.

 

ASIA

JinkoSolar To Supply Swan Bifacial Modules For Shanghai Electric’s DEWA Project

Renew Economy

JinkoSolar will supply its high efficiency Swan series modules, which will meet the high requirements of Dubai’s scorching temperatures and on the levelized cost of energy (“LCOE”). The innovative, bifacial design and low operating temperature of the modules were chosen to help achieve high power gain, effectively reduce LCOE and improve ROI for the project.

Japan Set To Push Past 2030 Renewable Energy Target

Renew Economy

A predicted investment of over $US100 billion ($A139 billion) in solar and wind power over the next decade is expected to take Japan beyond its renewable target to a share of 27% of the country’s energy mix. Japan had set itself a target of pushing the renewable share of its energy mix to between 22% and 24% by 2030, according to its 5th Strategic Energy Plan.

South Korea To Invest $46 Billion In Renewable Energy By 2030

Energy Digital

South Korea currently relies on coal and gas for two-thirds of its power. However, its gas industry is already facing genuine competition from new wind and solar projects. It is expected that these projects will be in a position to compete with coal in the next five years. The planned investments into renewable energy companies will be used to create 0.8GW of new solar power capacity and 16.5GW of additional wind power capacity.

 

MENA

Israel Moots Plan To Buy Solar Power From Former Enemy Jordan

The Guardian

Israel is considering buying solar power from its neighbour and former enemy, Jordan, in a potentially historic deal that could help the country meet ambitious new renewable energy targets. In a letter seen by the Guardian, energy minister Yuval Steinitz told environmental activists the ministry supported a pilot initiative in which Jordan would transfer 25 megawatts to Israel’s national grid, enough to power several thousands of households.

Saudi Energy Ministry To Assist Development Of Mega Economic Zone Neom

Maldives.net

Saudi Arabia’s energy ministry is to offer assistance so that Neom, a $500 billion high-tech development that includes tourism and sport facilities on the Red Sea, can be completed on schedule, minister Abdul Aziz bin Salman said on Sunday. The 26,500 square km (10,230 square mile) development, first revealed in 2017 with a planned completion in 2025, will include high-tech projects powered by wind and solar energy.

Saudi Renewable Sector To Generate 750,000 Jobs Over The Next 10 Years

ZAWYA

A recent report by the US-Saudi Business Council (USSBC) has revealed that the level of ongoing investments in Saudi Arabia’s renewable sector is expected to create up to 750,000 jobs over the next 10 years, and will become a prominent sector in the development of Saudi talent.

 

AFRICA

Namibia, Botswana Eye 5,000-MW Solar Project

Namibia Economist

Namibia and Botswana are set to sign an agreement to jointly develop a solar project of up to 5,000 megawatts capacity, officials said last week Friday. The Mines and Energy Minister Tom Alweendo said the two countries have partnered with Power Africa, a U.S. government entity that aims to boost electricity investment in Africa, to help structure the deal.

EU And German Government Support Nigeria’s Renewable Energy Development

Hallmark News

The European Union and the Government of German are supporting a new scholarship programme on solar energy and energy efficiency, targeting over 185 participants. It was gathered in Abuja at the weekend that the programme, which started on August 10, 2020, would among other things, enhance the skills of trainees on how to access funds for the development of renewable energy projects in Nigeria.

Global Renewable Energy Sources And Its Potential In West Africa

EIN News

Renewable energy sources make up 26% of the world’s electricity today, but according to the International Energy Agency (IEA) its share is expected to reach 30% by 2024. The report predicts that by 2024, the world’s solar capacity will almost double. Before we go in-depth, the below are the key sources of renewable energy.

 

 

AUSTRALIA

Queensland Announces Funding For Renewable Energy Zones

PV-Magazine

The plan released by Queensland Premier Annastacia Palaszczuk on Thursday has identified renewable energy investment as one of the main drivers of post-pandemic recovery with $145 million allocated for three new Renewable Energy Zones (REZs). 

Neoen Seeks Approval For 2.7GW Renewable Energy Hub In Australia

Renewables Now

Neoen SA  is seeking development approval for its massive Goyder South hybrid power project in South Australia that will incorporate wind, solar and battery storage capacity. The French renewable power producer has submitted its development application to the Regional Council of Goyder, official documents show.

Australia Must ‘Ensure There Is Enough Power Available’ In The Move To Renewable Energy

Sky News

The Australian’s Graham Lloyd says Australia needs to make sure there is enough renewable power available at times of high demand as we transition to the renewable energy sources. His comments come after a power blackout in California saw half a million residents in the state lose power as hot weather crashed the electricity grid. 

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