CleanTech Report September 1st 2020 |
M&A$3.40 Trillion To Be Invested Globally In Renewable Energy By 2030 Frost & Sullivan’s recent analysis, Growth Opportunities from Decarbonization in the Global Power Market, 2019-2030, reveals that the 2020s will be crucial for all the participants in the power industry as the transition toward renewable energy is expected to increase, while coal takes a downturn in most developed markets. Falling costs and renewable-friendly energy policies adopted by several countries in the six major geographies—North America, Latin America, Europe, the Middle East, China, and India—are prominent reasons why solar photovoltaic (PV) and wind capacity additions are expected to soar this decade. An estimated $3.40 trillion will be invested in renewable energy during the next decade, including $2.72 trillion in wind and solar. By 2030, 54.1% of installed capacity will be renewable (including hydropower), and 37.9% will be a combination of solar and wind. First State Investments Acquires Stake In Terra-Gen from Energy Capital Partners First State Investments (FSI), a leading global investor in infrastructure, and Energy Capital Partners (ECP), a leading power and renewables private equity investor, today announced that FSI is acquiring a 40% stake in Terra-Gen from ECP. Terms were not disclosed. Terra-Gen, based in New York, develops, constructs, and operates utility-scale wind, solar, energy storage, and geothermal electrical generation facilities throughout the United States. Terra-Gen’s portfolio spans more than 30 generating facilities located primarily in California, with additional locations in Colorado, Minnesota, Nevada, New York, Texas and Wyoming. The company currently operates more than 1,600 megawatts (MW) of facilities and has more than 3,000 MWs of projects under advanced development. CIT Leads $266MM Financing For Prospero 2 Solar Project CIT Group’s Power and Energy business served as coordinating lead arranger on a $266 million financing for Longroad Energy’s 331-megawatt Prospero 2 solar project in Andrews County, Texas. A leader in renewable energy project development, operation and services, Longroad Energy owns more than 1.4 gigawatts of wind and solar projects either in operation or construction across the U.S. The new Prospero 2 solar farm follows the original 379-megawatt Prospero project, also in Andrews County, which recently declared commercial operation. CIT’s Power and Energy business also served as coordinating lead arranger on the first Prospero project. |
NORTH AMERICAVistra Approved To Build A Grid Battery Bigger Than All Utility-Scale Battery Storage In The US Combined A permit to expand Vistra’s natural gas-fired Moss Landing generation station in Monterey County, California to 1,500 MW/6,000 MWh has been approved, setting the stage for the world to see gigawatt-scale battery energy storage for the first time ever. Baltimore County Is Converting Landfill Trash Into Renewable Energy Without Burning It Trash from Baltimore County residents will be used to produce renewable energy as the county starts a project at one of its landfills to convert gas created from decomposing waste into electricity. Instead of burning the methane gas off with a landfill flare, Energy Power Partners has agreed to collect gas produced by the Eastern Sanitary Landfill in White Marsh to create power for the county with on-site engine generators. The gas will travel through wells and pipes buried in the landfill before it’s processed and used to create electricity. $400 Million Hydro Plant Ready To Produce Power At Red Rock A massive $400 million hydroelectric plant is nearly ready to produce clean, renewable energy for Pella and other communities across Iowa and the Midwest. The Red Rock Hydroelectric Project will tap into water from the Des Moines River to produce enough energy to turn on lights, air conditioning and other electricity needs for 18,000 homes. It’s located at the base of the Red Rock Dam, a U.S. Army Corps of Engineers flood-control structure that has been in place since 1969. |
LATIN AMERICAPuerto Rico Regulators Want IRP To Include More Renewables, VPPs And Mini Grids Puerto Rico’s utility system was virtually wiped out after Hurricane Maria devastated the island three years ago. Some utility customers were without electricity for almost a year. The reasons for the disaster that befell Puerto Rico Electric Power Authority, the island’s utility company, were themselves a perfect storm of greed, corruption, and ignorance. Vestas Wins 409 MW Order in Brazil Vestas has received a 409 MW order from the joint venture between Votorantim Energia and the Canadian fund CPP Investments for the projects Ventos do Piauí II and Ventos do Piauí III, in Serra do Inácio, in the state of Piauí, in Brazil. Chile’s Renewable Boom Attracts Attention Latin America has lately emerged as the new hub for renewable expansion, with more than a quarter of primary energy coming from renewables, which is twice the global average. Chile stands out among its Latin American neighbors, with its rapidly expanding clean energy grid, which includes vast solar fields and wind farms. |
EUROPE365-Acre Solar Farm Plan For Southside Of Drogheda A massive solar farm, to include 39 MV power stations, is being planned for lands on the southside of Drogheda. The site, stretching to 365 acres or 148 hectares, will take in lands at Smithstown, Rogerstown, Ballymad, Piltown and Calliaghstown. The application is by Solar Farmers Ltd (part of the Energia Group). The site notice was erected last week and the application has been made to Meath County Council. Portugal Hails New Record Low For Solar Power Prices A new world record for the lowest price of future solar power output was set this week, with winning bids in Portugal’s latest mega-auction of clean energy contracts promising to deliver solar power from as little as €11.14 per megawatt hour (Mwh). The bidding outstripped the previous record minimum price of €14.6 per Mwh, set in Portugal’s first mega-auction for solar energy capacity in June last year, which secured 1,150MW of new capacity. Tartu To Consume Only Renewable Electricity From 2021 The City of Tartu is to enter into an agreement with AS Alexela for the purchase of electricity for street lighting and the city’s agencies and will become a city consuming only green electricity from 2021, informs LETA/BNS. In 2015, Tartu city council established an action plan for the city’s sustainable energy economy, the strategic goal of which is to reduce carbon dioxide emissions related to energy consumption. Based on the goal, the city will enter into an agreement to purchase electricity that will increase the share of green electricity to 100% from next year. |
ASIAApple Is Leading The Charge To Overhaul Taiwan’s Renewable Energy Market TSMC is an Apple supplier, one of 71 so far that have committed, at Apple’s urging, to procure all of their energy from renewable sources by 2030. Greening that supply chain is crucial to the consumer electronics giant’s goal, announced in July, to have a net zero carbon footprint by 2030. Only about 1% of the company’s emissions—which in 2019 were about equal to those of Sri Lanka—come from its own stores and offices; almost all the rest are from the factories that produce its products. Power Ledger Launches Renewable Energy Credit Marketplace In SE Asia Blockchain-enabled approaches to advancing the transition to renewable energy sources are making inroads in new regions. On Aug. 25, Australian blockchain firm Power Ledger announced its forthcoming launch of a marketplace for trading renewable energy certificates (RECs) across Thailand and the Southeast Asian region. UN Chief Urges India To Quickly Move To Clean Solar Power Secretary-General António Guterres said India is at a crossroads and should speed up its shift from fossil fuels to renewable energy by committing to no new coal projects after 2020. India’s subsidies for fossil fuels are about seven times bigger than its subsidies for clean energy. Coal subsidies in the 2019-20 financial year amounted to $2.06 billion, with overall subsidies to fossil fuels at $11 billion. |
MENAEgypt, Denmark Partner In Green Transformation, Renewable Energy Egypt has signed an Egyptian-Danish Energy Partnership Program (2019-2022) agreement that will push forward Egypt’s green transformation and investments in renewable energy. The agreement was signed by Egypt’s Minister of International Cooperation Rania Al-Mashat and Minister of Electricity and Renewable Energy Mohamed Shaker, and Denmark’s Energy Agency, which falls under the country’s Ministry of Climate, Energy and Utilities. Schneider Electric Bags $869M Smart Grid Deal In Egypt Energy management and automation company Schneider Electric has signed an agreement with Egypt’s Ministry of Electricity and Renewable Energy to establish 14 distribution control centres across the country, a top company official told Zawya Projects. “The distribution control centres would be established in three phases within 30 months. Four would be operationalised in Phase 1, and five each in Phases 2 and 3 at a total estimated cost of 13.8 billion Egyptian pounds ($869 million),” said Walid Sheta, regional Cluster President of Schneider Electric Egypt, North Africa and Levant in an exclusive interview. TAQA Arabia To Up Investment In Mena Renewable Projects Egypt’s TAQA Arabia is looking to increase investment in renewable projects in the Middle East and Africa, according to a senior company official. “We are studying several projects in the Middle East and Africa and expect procurement in the solar sector to be strong in 2021. We are working on several tenders totaling 200-300 MW that are expected to be closed in 2021,” Mohammed Ossama, Project Director at TAQA Arabia, said speaking at a webinar organised by EQ Magazine and Middle East Solar Association (MESIA). |
AFRICABotswana To Become An Energy Secure Country Lefoko Moagi, Botswana’s minister of mineral resources, green technology and energy security, made this announcement when addressing potential independent power producers in Francistown, the southern African country’s second-largest city. Moagi said the process of Botswana becoming energy secure with safe and clean energy will be underpinned by the exploitation of the country’s primary energy resources to meet “energy requirements in a sustainable and environmentally responsible manner.” Lumos Nigeria Unveils New Products, Lumos Prime, Lumos Eco In Partnership With MTN Lumos Nigeria, Africa’s leading provider of high-quality solar home systems, in partnership with telecommunications giant, MTN Nigeria Plc, today announced the launch of two new product offerings – Lumos Prime and Lumos Eco. The new products will enable Lumos’ customers to save up to 70% on their power cost, whilst also helping them power a variety of their electrical appliances. This reiterates Lumos Nigeria’s commitment towards providing reliable and affordable access to power for average households and small businesses across Nigeria. 5 GW Of Solar Coming To Africa, The Pressing Need For Panel Recycling 5 GW of solar may be coming to Botswana and Namibia, as the two countries are working with a U.S. government initiative, Power Africa, to help structure the deal. The two countries have massive solar potential, being flat geographically and having hot, dry climates, but have had little large-scale solar development to speak of so far. In addition, the projects would greatly diversify the two countries’ energy mixes, which currently include a considerable amount of power imported from South Africa. |
AUSTRALIARenewables Improve Reliability Outlook For Australia’s Main Grid Australia’s power supply has improved, as new solar and wind capacity are making summer blackouts less likely, says the Australian Energy Market Operator. Timely commissioning of new generation, storage and transmission investment will be critical, given the nation’s aging coal fleet and looming plant closures. Australian Industry Group Urges Coalition To Spend ‘at Least’ $3.3B On Renewable Energy Over Coming Decade The Morrison government should spend $3.3bn over 10 years on renewable energy and $500m over two years on capital grants to improve energy efficiency and management, according to the Australian Industry Group. The peak employer body made the calls in its pre-budget submission, released on Monday, which also proposes it bring forward income tax cuts, cut business tax, extend the coronavirus supplement on jobseeker and make a further round of $750 payments to households. Distributed, Large-scale Solar Support Australia’s Grid As 4.3 GW Of New Renewable Capacity Added The findings are from AEMO’s 2020 Electricity Statement of Opportunities (ESOO), a new report published today that forecasts electricity supply reliability in the National Electricity Market (NEM) – comprised of Queensland, New South Wales, Victoria, South Australia and Tasmania – over the next ten years. “It is great to see how industry’s investment in new resources improves the reliability outlook for this summer,” said AEMO CEO Audrey Zibelman, noting that an additional 4.3GW of new variable renewable energy capacity will be operational this summer compared with the same period last year. |
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