CleanTech Report September 8th 2020 |
M&ARenewables To Lure $3.4 Trillion Of Investments By 2030 The global renewable energy industry will be an arena for around USD 3.4 trillion (EUR 2.8tr) of new investments over the next decade as installation costs decline and coal power generation fades. This forecast was made by market analysts at Frost & Sullivan in a review of the Growth Opportunities from Decarbonization in the Global Power Market in 2019-2030. Mainstream Renewable Power Closes Second Phase Of $1.8 Billion Wind and Solar Financing Deal In Chile Global wind and solar development company, Mainstream Renewable Power , has reached financial close for the second phase of its wholly-owned and fully-contracted 1.3 gigawatt “Andes Renovables” wind and solar power generation platform in Chile. The Company has successfully raised US$620 million in debt to fund construction of phase two of what is one of Latin American’s biggest wind and solar generation platforms. Emerson To Buy US Technology Software Firm OSI For $1.6 Billion Emerson, a global automation technology and engineering company, said it has reached an agreement to acquire Open Systems International (OSI) for $1.6 billion in an all cash transaction. OSI is a leading operations technology software provider that broadens and complements Emerson’s robust software portfolio and ability to help customers in the global power industry, as well as other end markets, in their quest to transform and digitize operations to more seamlessly incorporate renewable energy sources and improve energy efficiency and reliability. |
NORTH AMERICAUS Clean Energy Giants To Join To Build Lobbying Muscle U.S. clean power giants to join forces to build lobbying muscle: Some of the biggest U.S. clean-energy companies are joining forces with the nation’s top wind-power trade group to create a new lobbying organization ahead of a presidential election that could tip federal policy in favor of renewables. The new group, called the American Clean Power Association, will include industry titans such as NextEra Energy, Avangrid and Berkshire Hathaway Energy. Texas Gusher Of Massive Utility-Scale Solar Development Texas has a dozen solar sites in operation producing at least 100 MW of power, according to pv magazine’s reporting. And that number is going to double in the coming year. Texas is perfect for big solar. Although the state has no renewable portfolio standard, it has Texas sun, lots of land and a competitive energy-only marketplace. Texas is projected to be the No. 2 state in new solar capacity over the next five years, according to SEIA, and remains one of the fastest growing solar energy markets in the country. Enel Green Power Begins Operating Largest Solar Plant In Texas Enel Green Power has completed the 245 MW second phase of the Roadrunner solar plant, which has a total capacity of 497 MW. Roadrunner’s completion increases Enel Green Power’s operating portfolio to over 6 GW of renewable capacity across the U.S. and Canada. |
LATIN AMERICAADFD Invests $15M To Raise Solar Plant Capacity In Cuba Cuba’s solar photovoltaic plant, funded by Abu Dhabi Fund for Development (ADFD), has increased its capacity to 15 megawatts from 10MW. The grid-connected project currently supplies an estimated 10,000 homes with electricity, according to a press release on Sunday. Inaugurated in Cuba in 2019, the project helps the country to move forward in its objective to generate 24% of its electricity from renewable sources by 2030. Brazil’s Omega Issues Green Debentures To Refinance Wind Brazilian renewable energy company Omega Geracao SA (BVMF:OMGE3) has approved the issuance of BRL 160 million (USD 30.2m/EUR 25.5m) of green debentures to refinance investments made in 147.2 MW of wind farms. The debentures will be issued in two tranches on September 15 with a maturity of eight years, the company’s board of directors has decided. Puerto Rico Chooses Solar Over Gas In Grid Redesign Last week, the Puerto Rico Energy Bureau approved a long-term energy plan for the island’s sole electric utility, the Puerto Rico Electric Power Authority (PREPA). The Integrated Resource Plan (IRP) rejected the majority of PREPA’s planned gas buildout and directed the utility to invest in large amounts of solar and energy storage. |
EUROPETinted Solar Panel Farms Can Grow Food While Generating Electricity Specially made tinted solar panels could be used to allow land to generate electricity around the same time as growing crops, researchers in the UK and Italy have claimed. Orange-colored solar panels absorb specific wavelengths of light for energy generation, at the same time as allowing wavelengths needed for plant growth to pass through. Electroroute Wins Energy Trading Deal For Offaly Battery Project Irish energy trading firm ElectroRoute has secured a deal to provide trading services to a €150 million electricity storage project in Co Offaly that is set to become one of the largest developments of its kind in Europe. Germany Accelerates Commitment To Renewable Energy, Moves Closer To Carbon Neutrality Germany plans to add 40 gigawatts of solar and wind capacity by 2025 as part of the country’s plan to have 65% of its power generation come from renewable energy by 2030. Under Germany’s proposed renewable energy law — commonly referred to by the acronym EEG for Erneuerbare-Energien-Gesetz — 16.7 gigawatts of onshore wind will be auctioned through 2025, while solar projects will undergo 10.7 GW in auctions. Offshore wind auctions will seek 9 gigawatts. |
ASIAAndhra Pradesh To Float India’s Largest Tender For Solar Power Projects Worth 10 Gigawatt Andhra Pradesh is gearing up to float India’s largest solar tender for setting up 10 gigawatts (GW) of power generation capacity, reports Livemint. The request for proposal (RFP) for the 10 GW tender will be floated soon, and the bids will be called based on the land getting ready. The project comes at a time when the solar power tariffs had recently touched a record low of Rs 2.36 per unit at an auction conducted by the Centre-owned Solar Energy Corporation of India Limited (SECI). Pakistan Can Grab Big Share Of Chinese Investment In Green Energy Pakistan has big opportunity to grab the Chinese investment in renewable energy sector after the Chinese decision of expanding investment in the sector. “China as a global leader in green finance and renewable development, wants Belt and Road Initiative (BRI) to be green,” a German scholar Dr Christoph Nedopil Wang, the director of the Green BRI Centre said, according to Gwadar Pro. Fimer Opens New HQ In Japan Solar inverter manufacturer Fimer has opened a new headquarters in Japan in order to better service its international clientele. The new HQ is located in Shinagawa, Tokyo’s leading business district, and is part of an ongoing transformation of the company, following its official transition from ABB’s solar inverter business earlier in the year. |
MENAEgypt May Sell Surplus Power To Europe And Africa Egypt has begun talks over plans to sell electricity to Europe and Africa, pressing its advantage as a producer of cheap renewable energy in a bid to become a regional export hub, the head of its sovereign wealth fund said. The nation, which has a surplus of electricity, sees unspecified “power-hungry” countries to the north as possible customers, according to Chief Executive Officer Ayman Soliman. Egypt could supply Europe via a planned sub-sea cable to Cyprus and Greece. Saudi Utility Firm Wins Financing For $650M Desalination Project ACWA Power has obtained financing to help develop a $650 million desalination project in Saudi Arabia. The transaction is funded through “limited recourse ring-fenced project financing” with Al Rajhi Bank, Abu Dhabi Islamic Bank, Riyad Bank and Mizuho Bank as initial mandated lead arrangers, the Saudi-based utility said in a statement. Riyad Bank and Bank AlJazira also provided equity bridge loans earlier this month. Egypt Targets $3 Billion Of Electricity Sector Investments In FY 2020/21 Egypt is targeting EGP 45.3bn in electricity sector investments in the fiscal year (FY) 2020/21, representing 6.1% of the country’s total investments, according to Minister of Planning and Economic Development Hala El-Said. El-Said noted that the electricity sector is one of the national economy’s main sectors, and its performance is used to measure Egypt’s economic progress. She added that electrical energy is the main pillar for comprehensive development on which all industrial, agricultural, tourism and urban projects are based. |
AFRICASub-Saharan Africa: $25M Fund To Back C&I Renewable Energy Projects An independent private equity fund management Metier, through its most recent Sustainable Capital Fund, has made a substantial investment into Broadreach Energy, in support of C&I renewable energy projects across sub-Saharan Africa. A joint press release stated that the transaction is centred around Broadreach Energy’s existing commercial, industrial and small-utility scale renewable energy portfolio and operations, and provides a pipeline to invest around $25 million in renewable energy, energy efficiency and related projects across sub-Saharan Africa. Solarise Raises Funds To Supply Solar Energy To Businesses Solarise Africa has just carried out a new financial mobilisation which has made it possible to raise funds from several financial partners including Energy Access Ventures (EAV); Proparco, the subsidiary of the French Development Agency (AFD) responsible for private sector financing; and EDFI ElectriFI. Droogfontein 2 Solar Park Begins Full Operation In South Africa The Droogfontein 2 Solar Park situated near Kimberley in the Northern Cape, has reached full grid code compliance and commercial operation. The Engineering, Procurement and Construction (EPC) contractor juwi Renewable Energies (juwi) confirmed on 1 September, noting that the 179-hectare solar area (comprising over 260,000 solar panels on a single axis tracker system) is supplying 75MW (86MW DC) into the Eskom grid. |
AUSTRALIASterling And Wilson Solar Bags ₹1,600 CR Worth Orders In Australia Sterling and Wilson Solar Ltd has bagged two large orders worth ₹1,600 crore in Australia. In a statement the Sterling and Wilson said these orders have an installed capacity of over 300 MW and bagged from global independent power producers (IPPs). Australia’s Main Grid Hits New Renewable Energy Record Of 50.4 Percent It’s the season of new records, and the most notable one in a weak of new milestones in Australia’s main electricity grids is a new peak for renewable energy share in the National Electricity Market: It reached 50.4 per cent at 10.55am on Monday. It also likely the first time that the combined output of wind and solar was more than that of black and brown coal, traditionally the dirty bed-rock’s of Australia’s electricity supply. Queensland To Put $500M Into Clean Energy Fund State government says money will hasten new renewable projects as it announces additional $1bn economic stimulus package. The Queensland government has announced a $500m renewable energy fund – to build publicly-owned wind and solar projects – as a centrepiece of its post-pandemic economic recovery plan. |
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