CleanTech Report November 17th 2020 |
M&AGreenbacker Renewable Energy Company LLC Acquires Solar Portfolio Totaling 80 MW Greenbacker Renewable Energy Company LLC (“GREC”) announced today that, through a wholly-owned subsidiary, it purchased a to-be-constructed 80 MW solar project from Broad Reach Power LLC. The project, Fall River Solar, is located in Fall River County, South Dakota and has a 20-year Power Purchase Agreement (“PPA”) in place with the investment-grade utility Black Hills Power, Inc. (“BHP”). Greenbacker will oversee the construction which is expected to reach COD in Q4 2022. CIP Buys Close To 1.6 GW Of Pumped Storage Projects In US Copenhagen Infrastructure Partners (CIP) has acquired ownership of the Swan Lake (Klamath County, Oregon) and Goldendale (Klickitat County, Washington) closed-loop pump storage hydro projects. The projects were previously owned and in development under a joint venture between Rye Development and National Grid. Swan Lake is a 400 MW project that secured its 50-year Federal Energy Regulatory Commission (FERC) license in 2019. Goldendale is a 1,200 MW project that has filed an application with FERC in June of 2020. Rye will continue to lead the development of the two projects until the start of construction. BlackRock Buys GE Out Of C&I Solar Developer BlackRock Real Assets has taken full ownership of Distributed Solar Development (DSD), which develops and operates solar parks for commercial and industrial (C&I) customers in the US. The investor announced today that it bought the 20% stake it did not already own in DSD from GE Renewable Energy for an undisclosed sum. The investment was made through BlackRock’s USD-1.65-billion (EUR 1.4bn) Global Renewable Power II Fund (GRP II), which acquired the initial 80% interest in the business in July 2019. |
NORTH AMERICA90% of the Global Power Capacity Added In 2020 Will Be Renewable There’s been plenty of hand-wringing about the potential for the Covid-19 pandemic to distract from the ongoing fight against climate change. But the latest data from the International Energy Agency (IEA) shows promising signs that a “green recovery” may be materializing. Right from the start of the crisis there were fears that the coronavirus would derail fragile efforts to reduce global carbon emissions by pulling politicians’ attention away from the cause or tempting governments to throw out environmental standards to give a shot in the arm to their pandemic-ravaged economies. Southern Alberta Witnessing ‘Unprecedented’ Surge In Renewable Energy Projects The energy sector in southern Alberta looks very promising according to experts, especially with over $2 billion worth of renewable energy projects being built in the region. SouthGrow Regional Initiative, an economic development organization based in Lethbridge, says this boom in renewables took flight about three years ago as the price of installations and equipment dropped low enough that incentive-free builds suddenly made more business sense. Renewable Energy Will Be World’s Largest Source Of Electricity Generation By 2025 Renewable energy is still growing strongly despite the COVID-19 crisis, and is set to become the world’s largest source of electricity generation by 2025. This is according to a report, by International Energy Agency (IEA). Renewable electricity generation will rise 7 percent in 2020, and capacity additions will set records this year and next, the agency noted in its Renewables 2020 report. |
LATIN AMERICAAmid Bolsonaro’s Climate Inaction, Brazil Private Sector Eyes Carbon Neutrality Brazil’s private and public sectors seem to be going in opposite directions when it comes to protecting the environment. While major companies such as mining giant Vale and cement producer Votorantim Cimentos have announced plans to become carbon neutral, President Jair Bolsonaro continues to tacitly approve of deforestation in the Amazon region. Guyana’s Fundamental Role In The Geo-Politics Of Energy Starting in January 2020, the International Maritime Organization required ships to reduce sulphur emissions by 80 percent, transitioning vessels away from historically dirty bunker fuel. This important shift collided with an upsurge in climate-friendly investments as the world became increasingly aware of its surrounding environment. Colombia Plans 2021 Renewables Auction To Become ‘Leader In Latin America’s Energy Transition’ The government of Colombia has announced plans to hold a renewable energy auction in the first quarter of 2021 that it says could represent an investment of more than US$6 billion in the country. Speaking at the inauguration of a new solar farm in the city of Cartagena, President Iván Duque said the auction will make the country a “leader in Latin America’s energy transition”. “In just 27 months we have multiplied the installed renewable capacity in the country by five and in the next 22 months we are going to multiply it by more than 20 times,” he added. |
EUROPEEurope’s Renewables Ambitions ‘Not Matched By Recognition Of Energy Storage’s Importance’ While European power markets outpace the US and China for renewable energy deployment, the continent’s policymakers are yet to recognise the importance of energy storage for integrating that capacity onto the grid, new research from Wood Mackenzie Power & Renewables finds. Natural Power Advises On Europe’s Largest Unsubsidised Solar Project: Solara4 Leading renewable energy consultancy and service provider, Natural Power, has acted as lender’s technical adviser for the financing of the 220 MW Solara4 solar farm in Portugal. This is a landmark project in the European solar market and will be Europe’s largest unsubsidised solar project when completed in 2021. EU Approves Romanian Scheme To Heating Systems Based On Renewables A Romanian scheme to support the construction and/or upgrade of district heating systems, based exclusively on Renewable Energy Sources in Romania has been given the green light by the European Commission. “This €150 million Romanian scheme will support investments to support the construction or upgrade of district heating systems,” Commission Executive Vice-President for Competition Policy Margrethe Vestager said, noting that it will foster the switch from fossil fuel energy production to heat generation based on renewable resources, in line with the objectives of the Green Deal. |
ASIAIndia Announces Incentives For Solar Modules & Battery Manufacturing India’s ministry of finance recently announced production-linked incentives for companies looking to manufacture solar PV modules and batteries in India. The incentive is available to Indian as well as foreign companies looking to set up shop in India. The Indian government will offer Rs 4,500 crore (US$605 million) for solar PV modules and Rs 18,100 crore (US$2.4 billion) for batteries. Taiwan Fast-Tracks Green Power The island is close to achieving its aim of meeting the power needs of a new generation of domestically relocated and overseas-headquartered high-tech manufacturers. Since 2016, as part of a bid to meet rising demand from local and overseas‑invested businesses, Taiwan has been actively looking to develop its renewable‑energy resources. EESL To Implement Country’s First Decentralised 100 MW Solar Convergence Project In Goa Energy Efficiency Services Ltd (EESL) has signed up with Goa to set up a ₹450-crore 100 MW decentralised solar convergence project to be implemented by the newly-formed subsidiary Convergence Energy Services Ltd. Under this initiative, EESL will implement decentralised solar energy projects. Convergence Energy Services will install 100 MW of decentralised ground-mounted solar power projects on government lands for agricultural pumping, replace about 6,300 BEE star-rated agricultural pumps and distribute nearly 16 lakh LED bulbs for rural domestic households. |
MENAACWA Power Signs Major Red Sea Renewable Deal One agreement covers all utilities for the first phase of the Red Sea project. This includes 16 hotels, an international airport and infrastructure. TRSDC is not investing its own cash in the project. Instead, it will purchase utilities from ACWA Power over the next 25 years. Energy will come from solar panels and wind turbines. The initial demand is 210 MW, although there is scope for this to expand in line with the development. The public-private partnership (PPP) aims to generate 650,000 MWh of renewable power, with no CO2 emissions. Israel Launches 10 Year National Energy Efficiency Plan Israel has launched a national plan for energy efficiency and dealing with the climate crisis, the government announced. On Monday, the Ministry of Energy said the new plan, which refers to the years 2020-2030, was formed to reduce energy consumption and greenhouse gas emissions to deal with the climate crisis and the accelerated urbanization process, reports Xinhua news agency. It includes promoting the transition to renewable energy production and the use of electrical technologies instead of technologies that consume fossil fuels. Dubai Renewables Firm Alcazar Mulls Green Bond To Raise Up To $700 Million A green bond issuance by Dubai-based renewables firm Alcazar Energy could raise as much as $700 million and would constitute one of the largest private renewable energy borrowings in the region. CEO Daniel Calderon admitted it would be “a dream” to secure the additional funding from this avenue, although he stressed there are still “various options” on the table for Alcazar in terms of future investment. |
AFRICASolar Powered Irrigation To Boost Africa’s Agricultural Transformation Solar Powered Irrigation System as an innovative and efficient technology to boost agricultural growth and transformation, alleviate poverty, ensure food and nutrition security and improve livelihoods and the resilience of rural communities in West Africa. The increase in agricultural production and productivity for food and nutrition security depends, to a very large extent, on the availability of two essential productive resources: land and water. Improved Battery Technology Vital To Renewables Market According to a report by the International Energy Agency, renewable energy will make up almost half of sub-Saharan Africa’s power generation growth by 2040. The uptake is largely because of improved technology, greater regulations promoting access and massive reductions in cost. Improving access to reliable and sustainable energy will be critical for economic and social development on the continent. This is the view of Daniel Goldstuck, head of energy storage services at the SOLA Group and speaker at the solar and energy storage event, Solar Power Africa. Renewable Energy Sector Is Booming Despite Pandemic Lockdowns Renewable power capacity worldwide will increase to a record 200GW this year forecasts the International Energy Agency’s Renewables 2020 report. The increase, representing almost 90% of the total expansion in overall power capacity globally, is led by wind, hydropower and solar PV. Wind and solar additions, in particular, will jump by 30% in both the USA and China as developers rush to take advantage of expiring incentives. |
AUSTRALIAEDF Renewables To Supply 250 MW Of Solar To Steel Producer Nucor EDF Renewables North America and Nucor Corporation have signed a 15-year virtual power purchase agreement (VPPA) for 250 MW of solar energy in Texas, United States. The project, selected by steel producer Nucor under a competitive request for proposal (RfP) process, is expected to start delivering clean electricity in the second quarter of 2023. The project will generate enough clean energy that can satisfy the electricity needs of nearly 50,000 households. The agreement marks the first solar power purchase agreement for Nucor and the largest of its kind for the steel industry. Australia Proposes The World’s Most Ambitious Project On Renewable Energy Currently, probably the most ambitious of these projects is the Aus-ASEAN Power Link, which is a proposed project that combines the largest solar power farm in the world, its largest battery, and the longest electric cable under the sea. Singapore’s Sun Cable is involved in the 16 billion-dollar project. The solar farm with the 10-gigawatt (or GW) capacity will take up 30,000 acres in the Northern Territory of Australia. This is equal to nine million solar PV or photovoltaic rooftop panels. This farm will be paired with a battery facility with a capacity of 30 GWh (or gigawatt-hour), which will allow for a 24/7 renewable power supply. Australian Hydrogen Project Featuring 5GW Of Renewables Secures Investment Firm Backing A Western Australian renewable hydrogen facility that will be powered by 5GW of solar PV and onshore wind has secured the backing of Danish investment firm Copenhagen Infrastructure Partners (CIP). Announced in October last year, the Murchison Renewable Hydrogen Project will be constructed near the town of Kalbarri in the midwest of Western Australia and will provide hydrogen exports to Asian markets such as Japan and South Korea. The facility is being developed by Hydrogen Renewables Australia and will feature electrolysers from German firm Siemens. |
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