CleanTech Report December 22d 2020 |
M&AMytilineos Buys Solar Energy Project In Andalusia Mytilineos on Monday announced the acquisition of a 50-megawatt solar energy project in Spain (the Jaén photovoltaic project) from Viridi RE. The project is located in the Municipality of Jaén (Andalusia), an area with significant sunshine in southeastern Spain. It is ready for construction, which is planned for the first quarter of 2021. KKR-Controlled IndiGrid To Acquire Two Solar Assets India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT), will fully acquire two solar assets operated by FRV Solar Holdings located in Andhra Pradesh. IndiGrid will acquire both assets – FRV Andhra Pradesh Solar Farm-I Pvt Ltd and FRV India Solar Park II-Pvt Ltd – for an enterprise value of Rs 660 crore (nearly $90 million at current exchange rates). Canada Pension Investor CDPQ To Invest $1 Billion In Invenergy Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) said on Friday it would invest $1 billion in Invenergy Renewables LLC, the largest private developer, owner and operator of wind and solar projects in North America. CDPQ is seeking to decarbonize its investment portfolios and achieve net-zero emissions by 2050, and renewables are a particular focus as a part of the battle against climate change. |
NORTH AMERICANew Stimulus Bill Includes $35.2 Billion For New Energy Initiatives The new economic stimulus proposal that has been approved by Congress includes roughly $35.2 billion for energy initiatives, according to summary documents seen by TechCrunch. The spending is split between the Energy Act of 2020 and the Energy for the Environment Act, and both include new money for big technology initiatives. EDF Renewables Signs First 55 MW Power Purchase Agreement With BASF For Solar Energy EDF Renewables North America today announced the Space City Solar Project is progressing with critical development milestones having signed the first tranche of 55 megawatts (MWac) / 73 MWdc to BASF through a Power Purchase Agreement. The Project’s total capacity is up to 345 MWac / 455 MWdc. Space City Solar, located in Wharton County, Texas, is expected to commence construction in Summer 2021 and begin delivery of clean electricity in Summer 2022. Apex Clean Energy Secures $200M Refinancing Apex Clean Energy has closed its refinancing round with $200 million to develop more utility-scale wind, solar and storage projects in the US. The renewables operator signed a deal with a family office led by green financing groups Zoma Capital and Plexus Solutions to fund Apex’s future projects as the size of the country’s solar market is expected to surge over the coming years. |
LATIN AMERICAMega Solar Power from Argentina’s Puna Highlands The unprecedented growth of renewable energies in Argentina over the last three years has borne its greatest fruit: the Cauchari solar park, with nearly one million photovoltaic panels and 300 MW of installed power, which was connected to the national power grid on Sept. 26. Aligning Recovery With Climate Efforts In Latin America And The Caribbean Renewable energy is a central part of national climate pledges under the Paris Agreement. Nationally Determined Contributions (NDCs) set out the steps that countries intend to take to keep the rise in global average temperature to well below 2°C. However, current national plans, as far as they set renewable power targets, lack ambition compared to already-apparent market trends. This is especially true in Latin America and the Caribbean (LAC) where the 2030 renewable energy target would be achieved by 2021 if the recent pace of clean energy growth continues. EIB Provides $100M USD To COFIDE To Support SMEs And Climate Projects In Peru The European Investment Bank is providing a USD 100 million framework loan to Peru’s development bank, Corporación Financiera de Desarrollo S.A. (COFIDE), to finance small businesses and climate action investment projects, primarily in the renewable energy and energy efficiency sectors. As a response to the COVID-19 crisis, the EIB loan will provide approximately USD 30 million to small and medium-sized businesses, targeting companies impacted by current economic challenges. The loan will be channelled to eligible investment projects through local commercial banks.
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EUROPEClean Energy Ownership Platform Ripple’s Latest Crowdfunding Campaign Nears £375,000 During The Final Days On Seedrs UK-based renewable energy platform Ripple is now nearing £375,000 in funding through its latest equity crowdfunding campaign on Seedrs. The investment round, which was launched last month, was originally seeking £350,000 and has so far attracted more than 780 Seedrs investors. Investors Keen On Solar Power Projects In Greece Investment prospects in the renewable energy sector look promising. From December 1-18, 1,500 applications for projects representing 15 gigawatts of power were submitted to the Regulatory Authority for Energy (RAE) and 20 GW could be reached by today’s deadline. BP Expands Renewable Energy Supply Deal With Amazon In Europe Oil major BP has expanded a renewable energy supply deal with Amazon.com Inc to power the U.S. e-commerce giant’s operations and Amazon Web Services in Europe, the British company said on Thursday. The company said it would supply Amazon with an additional 404 megawatts of wind power in Europe, starting in 2022, with more than half of that sourced from a new wind project in Sweden and the rest from two new wind projects in Scotland. |
ASIAEnergy China Plans $3.6 Billion Investment On Integrated Energy Project In Erdos China Energy Engineering Group (Energy China) has signed a framework agreement with Erdos city government in Inner Mongolia to set up an integrated energy base with total investment of 23.8 billion yuan ($3.63 billion) in the region.The project will add 1 gigawatts (GW) wind power generation capacity and 5 GW solar capacity on top of the already planned 8 GW coal-fired power plants in Erdos, according to a statement issued by the state asset watchdog, SASAC, on Monday. India Is Building The World’s Largest Hybrid Renewable Energy ‘Megapark’ India is setting its foundations for what it deems will be the world’s largest hybrid renewable energy park. The megapark is set to produce a whopping 30 gigawatts of electricity, reported Agence France Presse (AFP). The country’s Prime Minister, Narendra Modi, laid the first foundation stone on Tuesday last week. PM Modi said the park would help India reduce its carbon dioxide emissions by up to 50 million tons each year. Ayana Gets Additional $390 Million Funding Renewable energy platform Ayana on Thursday got additional funding worth USD 390 million from the CDC, the National Investment and Infrastructure Fund (NIIF) and the Green Growth Equity Fund (GGEF). CDC Group, the UK’s development finance institution and impact investor, NIIF and EverSource Capital managed GGEF announced additional equity funding of USD 70 million, USD 284 million and USD 36 million respectively in Ayana Renewable Power (Ayana), a leading Indian renewable energy platform, a statement said. |
MENAUAE’s Masdar Makes Southeast Asia Debut With Indonesia’s First Floating Solar Project Abu Dhabi-based clean energy major Masdar and PT PJBI, a subsidiary of Indonesia’s state electricity company, have announced the formation of a joint venture to drive the development of Indonesia’s first floating solar project. The new company, PT Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), was formally announced at a ceremony at the Cirata reservoir in West Java, where the project will be located. Egypt Launches 416 Renewable Energy Projects Worth $6.08 Billion In Two Years The Ministry of Planning and Economic Development has issued a report on the renewable energy sector’s situation in fiscal years (FY) 2018/19 and 2019/20. Hala El-Said, Minister of Planning and Economic Development, indicated that 416 projects have been established in the electricity and renewable energy sector, with a total investment cost estimated at EGP 95.6bn, of which 194 projects, worth EGP 33.6bn, were completed at the end of FY 2019/20. Abu Dhabi Supports Efforts To Adopt Renewable Energy Projects Globally Eng. Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy (DoE), said that The COVID-19 pandemic brought the issue of sustainability front and centre. This came in a recorded opening speech to the Renewable Energy International Finance and Cutting-Edge Technology Forum, which was held in Hefei in China’s Anhui Province on December 15, 2020. |
AFRICAAfrican Countries Must Take A Balanced Approach To The Energy Transition Africa stands at a precarious juncture, where the transition from fossil fuels to renewables intersects with the economic benefits of a strategically managed oil and gas industry. Down one road, the continent expands exploration and production of its vast natural gas and oil reserves to bring electricity, fuel, and financial power to millions. Down the other, it yields to pressure to help achieve climate targets, including outright bans on fossil fuels that would eliminate funding for natural gas projects. Nigeria Announces New Energy Access Project ‘Solar Power Naija’ The Federal government of Nigeria has launched a ‘Solar Power Naija’ project, a programme focussing on 5 million solar connections for off-grid communities as part of the Economic Sustainability Plan (ESP) in response to the COVID-19 pandemic. This solar power programme is expected to generate an additional N7 billion ($18 million) increase in tax revenues per annum and $10 million in annual import substitution, according to a media statement issued by the Rural Electrification Agency (REA). AfDB Approves Programme To Expand Solar Energy The Board of Directors of the African Development Bank (AfDB) has approved a Desert-to-Power (D2P) technical support programme that will advance the rollout of solar generation in G5 Sahel countries, where 60 million people lack access to electricity, the lender has announced. |
AUSTRALIAGarnaut’s Sunshot To Create Australia’s First Renewable Energy Industrial Park Leading economist Professor Ross Garnaut is looking to create Australia’s first renewable energy industrial development in central Queensland, using renewable energy sources to power and attract a range of manufacturing and agricultural businesses and create a template to help revive the fortunes of rural Australia. Garnaut’s Sunshot Energy and the Remote Area Planning and Development board (RAPAD) – which represents seven councils in the region – have submitted an application for Northern Australia Infrastructure Facility (NAIF) to kick start the renewable energy industrial zone near the town of Barcaldine in central western Queensland.
Wangaratta Solar Farm Sold, Paving Way For Construction A 29.9MW solar farm planned for development in Wangaratta in Victoria’s north east has been snapped up by Australian commercial solar outfit CleanPeak Energy. The original developers of the solar farm, Sun Farms Australia, kicked off a quest for investors in the $45 million “shovel-ready” project in April of this year, appointing Energy Estate as advisors on the process.
Australian Researchers Help Set New Records For Ultra-high Efficiency Solar Cells Australian researchers have contributed to yet another world record for solar conversion efficiency, with researchers from the University of New South Wales involved in the production of new ultra-high efficiency gallium arsenide solar cells. In a research paper published in the journal Advanced Energy Materials, the team of researchers from the University of New South Wales and the US-based National Renewable Energy Laboratory detailed how using gallium arsenide based semiconductors, solar energy conversion efficiencies of 32.9 per cent were achieved.
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