CleanTech Report September 15th 2020 |
M&AORIX To Invest $980 Million In Greenko Japan’s ORIX Corporation has entered into a framework pact to invest at least $980 million to buy a stake in renewable energy firm Greenko Energy Holdings through a combination of primary and secondary transactions. The transaction values Greenko equity at about $5.75 billion. In addition to acquiring 20% stake in Greenko from the founders’ group, ORIX will integrate its entire wind power generation business in India into Greenko. The integration will be in exchange for Greenko’s new shares. Adani Green Energy To Raise $1.8 Billion From Foreign Banks The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country’s first manufacturing-linked solar power plant of 8 GW. Adani Green Energy Ltd (AGEL) is looking to tie up with close to a dozen foreign banks to avail greenfield funding for its under-construction assets. Germany’s BayWa r.e. Buys US C&I Solar And Storage EEI Germany’s BayWa r.e. renewable energy GmbH has taken over US commercial and industrial (C&I) solar and energy storage firm Enable Energy Inc (EEI) in a deal that grows its regional solar and wind pipeline to above 5 GW. “The addition of EEI to the BayWa r.e. Americas family will create multiple collaborative opportunities with our existing businesses and improve our position in strategic regional and vertical markets, such as commercial solar-plus-storage,” said Axel Veeser, managing director of BayWa r.e. USA LLC. |
NORTH AMERICATexas Solar Will Outshine California In 2020 In the southern United States, solar PV project installations have surged, mainly through utility-driven demand. IHS Markit forecasts that the southeastern and southwestern parts of the country will account for 31% and 23% of total utility-scale demand from 2020 through 2024, respectively. Opportunities for large utility-scale PV projects in the south are vast, given the region’s strong solar resource and the availability of land. BP To Buy Stakes In US Wind Developments From Equinor For £845M BP has struck a deal to buy 50% of the Empire and Beacon offshore wind projects on the US east coast from Equinor for £845 million. The acquisition has an effective date of January 1, 2020 and is expected to close in early 2021, The two companies are also establishing a strategic partnership for further growth within offshore wind in the US. Currently Equinor holds a 100% interest in both the Empire Wind lease, located off the coast of New York State, and Beacon Wind, off Massachusetts. DESRI Announces Signing Of PPA For Solar Projects E. Shaw Renewable Investments (DESRI), a leading renewable energy producer in North America, has announced additional details regarding the signing of power purchase agreements (PPAs) for the Rocket and Horseshoe Solar projects in Utah, US. The projects, which are expected to total 155 MWac, will support Facebook Inc.’s Eagle Mountain Data Centre, through PPAs with Rocky Mountain Power, announced earlier this month. Both projects are owned and being developed by DESRI. |
LATIN AMERICACaterpillar Microgrid Hybrid Power Solution Keeps Peru Copper Mine Energised Caterpillar dealer Ferreyros has been selected by Ferrenergy, Ferreycorp’s energy company in Peru, to provide a microgrid power system for the Agromin La Bonita underground copper mine in Acarí, Peru. Supplied by Ferreyros to support a power purchase agreement between Ferrenergy and the operators of the Agromin La Bonita mine, the system includes more than 2,400 ground-mounted photovoltaic solar modules that supply a total of over 960 kW of energy, twelve 75 kW power inverters, a 1.5 MVA power transformer, and a 500 m medium-voltage transmission line. Latin America’s Is Emerging As A Renewable Energy Powerhouse Latin America is emerging as a green powerhouse, with some of the strongest renewable capacity growth expected globally in the coming years. With auctions already adopted throughout Latin America, Rystad Energy expects the region’s 49 gigawatts (GW) of renewable capacity will skyrocket to 123 GW by 2025, with the biggest increases coming from Brazil, Mexico, Chile, Colombia and Argentina. Schneider Electric Sees Huge Energy Efficiency Potential In Brazil According to the executive, by 2030, a low-carbon, climate resilient economic recovery in Brazil could deliver a net increase of more than 2mn jobs, which is four times more jobs in the Brazil’s oil and gas industry, in addition to a GDP gain of US$535bn. With companies and industries pursuing a more sustainable agenda, while reducing energy costs, opportunities flourish in many sectors of the economy, such as mining, oil and gas, infrastructure, food and beverage and datacenters. |
EUROPEHEP Puts Into Operation Largest Solar Power Plant In Croatia The HEP power company, on the southern island of Vis on Friday, put into operation the largest solar power plant in Croatia, worth HRK 31 million, 3.5 MW in power and expected to produce five million kWh of electricity a year, enough for 1,600 households. With this first large solar power plant on a Croatian island, Vis has its own source of renewable energy and greater security of electricity supply, notably during summer when consumption is higher, it was said at the inauguration. Polish Energy Giant Orlen Aims At 2050 Emission Neutrality Poland’s oil and energy giant PKN Orlen says it is aiming at carbon emission neutrality by the year 2050. Central and Eastern Europe’s leader in the energy sector, Orlen said this week it will invest heavily in developing cleaner production methods and greater efficiency, as well as in wind and solar energy. The company also said it will increase its use of bio fuels. Greece Eyes 2.3GW Of New Solar As Part Of Efforts To Ditch Coal Solar parks with a total capacity of 2.3GW will be developed in Greece as part of a €5 billion (US$5.94 billion) roadmap to support the phase-out of coal generation by 2028. Majority state-owned utility Public Power Corporation (PPC) has been tasked with the construction of solar facilities in the country’s Western Macedonia region as well as 0.5GW of parks in the Peloponnese peninsula. Hellenic Petroleum will also develop a €130 million solar project under the scheme. |
ASIAIndia To Have 220 GW Renewable Energy Capacity By 2022 Prime Minister Narendra Modi on Tuesday exuded confidence that India will increase its existing clean energy capacity of 134 GW to 220 GW by 2022, and stressed on reducing tariffs further through technological advancements. The Prime Minister was earlier expected to deliver the inaugural address at the World Solar Technology Summit organised by the International Solar Alliance (ISA), but could not do so due to some other engagements. Vietnam Faces Transmission Conundrum For Renewable Energy Vietnam’s national grid is ill-equipped to handle the power surge from new renewable energy plants seeking to come online this year. National utility Vietnam Electricity (EVN) has said in a recent report that the construction of new transmission lines might not be able to match the speed of new solar and wind power projects. Solar, Wind To Attract $1T Investment In APAC By 2030 The Asia Pacific (APAC) power generation sector could record investment of up to $1.5 trillion by 2030, largely driven by solar and wind projects, Kallanish Energy reports. A new report from Wood Mackenzie found that solar and wind represent $1 trillion, or two-thirds of investment opportunities in APAC throughout the next decade. Fossil fuels – primarily coal and gas – comprise the remaining $500 billion of opportunity. |
MENASaudi SEC To Invest $212.5M In Connecting Green Projects To The Grid Saudi Electricity Company (SEC) plans to invest more than 797 million Saudi riyals ($212.5 million) to connect 4.17 gigawatts (GW) of renewable energy projects to the grid by 2021, according to a recent report. “We already successfully integrated the first ever utility-scale renewable energy utility, Sakaka SPV plant [with a total capacity of 300 megawatts (mw)], into the grid in 2019, and are expecting to complete the connection to the following projects in 2020-2021,” SEC said in its latest sustainability report. Egypt In Talks Over Plan To Sell 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 Electricity Gets $1.3 Billion In Country’s First Green Bond Sale State-controlled Saudi Electricity Company (SEC), the kingdom’s electric transmission monopoly, sold $1.3 billion in dual-tranche green sukuk, or Islamic bonds, the first public green issuance from the region this year. It sold $650 million in a five-year tranche at 140 basis points over midswaps and $650 million in 10-year Islamic bonds at 170 basis points over midswaps, a document from one of the banks arranging the deal and seen by Reuters showed. |
AFRICAKenyan Energy Company Solarise Raises $10M Series B Funding Round Kenya-based clean energy and energy efficiency leasing company Solarise has raised a US$10 million Series B funding round to scale further across the continent. Founded by Patrik Huber, Jan Albert Valk and Sakkie van Wijk, Solarise Africa is an energy leasing company for solar and other energy assets focusing on commercial and industrial clients (C&I). Metier Finances Broadreach To Provide Clean Energy To Businesses Metier Financial Corporation has just announced a $25 million investment in Broadreach Energy. The funds are intended to provide clean energy to utility companies and small and medium-sized enterprises (SMEs) in sub-Saharan Africa. Metier Private Equity International continues to invest in the power sector in Africa. The South African-based finance company has just announced a $25 million investment in the independent power producer (IPP) Broadreach Energy. Off-Grid Power Takes Off In Africa Africa’s leaders are learning to love off-grid renewable energy. What used to be seen as, at best, an adjunct to large-scale thermal and hydro-based national grid supply is now being recognised as a major weapon in the drive to provide electricity access to all Africans. |
AUSTRALIAAustralia’s Solar And Wind Sectors Set To Overtake Gas And Coal Australia’s top two electricity generation sources, coal and natural gas, have both seen demand in the country peak, a Rystad Energy analysis shows. The combined power production from coal and gas will be overtaken by electricity generated by solar photovoltaic (PV) and onshore wind farms from 2026. In fact, installed power generation capacity from solar and wind top that of coal and gas already from 2023, but transmission limitations will prevent some of the electricity produced from these clean energy sources from reaching urban centers and cities. South Australia’s Biggest Solar Farm Finally Moves To Full Production The biggest solar farm in South Australia, and what would have been the biggest solar complex in Australia had it been completed earlier, is finally moving towards full production – nearly two years after its original plans. The Bungala solar complex near Port Augusta – one of a raft of new wind and solar and storage projects planned for the region following the closure of the city’s last coal fired generator in 2016 – is composed of two stages, both 100MW (ac). New Zealand’s Largest Solar Panel Roof Eyes Christmas Completion Date Construction on the country’s largest solar panel roof is underway with the first of over 2000 panels installed. The equivalent of 14 netball courts of solar panels will power Foodstuffs’ new North Island support centre, and is scheduled for completion by Christmas. The panels will be placed on Foodstuffs’ distribution centre, which is located near Auckland International Airport, and will serve Pak ‘n Save, New World and Four Square supermarkets in the North Island. |
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