CleanTech Report October 20th 2020 |
M&AScatec Solar Makes $1.1B Acquisition To Become Global Renewable IPP Norwegian PV developer Scatec Solar has acquired hydro developer SN Power and detailed its plans for expansion in new geographies and new technologies. Scatec is also dropping the “Solar” from its name after agreeing to acquire SN Power for $1.1 billion from NorFund, a private equity firm owned by the Norwegian government. The deal is expected to close in Q2 2021. ICG Joins Engie And Mitsui In Aussie Renewables Platform Australia’s Infrastructure Capital Group (ICG) will own a 75% stake in a new renewable energy platform set up by French energy giant Engie SA (EPA:ENGI) and Japanese trader Mitsui & Co (TYO:8031). Through its Australian Renewables Income Fund (ARIF), ICG will take the lion’s share in the Australian Renewable Energy Trust (ARET). Sunrun Closes Vivint Solar Buy US residential solar installer Sunrun Inc (NASDAQ:RUN) has closed the acquisition of rival Vivint Solar (NYSE:VSLR) in an all-stock deal with an enterprise value of USD 3.2 billion (EUR 2.71bn) as first announced in July. Under the agreement, Vivint Solar’s shareholders are entitled to get 0.55 of Sunrun common stock for each share held, representing a premium of 10% to the closing price of the target’s stock on July 6. |
NORTH AMERICAUS Renewable Energy Consumption Hits Record Renewable energy consumption in the United States continued to rise for the fourth year in a row in 2019, with wind energy and wood and waste energy each accounting for 24 percent of all renewable energy used in America, the Energy Information Administration (EIA) said on Monday. Last year, U.S. consumption of renewable energy reached a record 11.5 quadrillion British thermal units (Btu), or 11 percent of total U.S. energy consumption, the EIA has estimated. New York Gives Big Boost To Renewable Energy The Public Service Commission has issued an important order which sets out a roadmap for achieving the state’s ambitious goal of obtaining 70 percent of its electricity from renewable sources by 2030. America’s Largest Solar-Panel Maker Leads The World In Panel Recycling–Recovering 95% Of Materials One of the global leaders in PV solar panel production and installation is also working hard to tackle the future of solar panel recycling, a reality that is already becoming apparent as the first generation of panels reach the end of their life cycle, and that will become all the more important in the 2020s and 2030s. |
LATIN AMERICAHawaiian Electric To Discuss Renewable Energy Progress On Maui Hawaiian Electric will host a virtual community meeting to discuss renewable energy progress on Maui. The meeting will help to answer what progress has been made to power Maui with local, clean and reliable resources. AES Begins Work On 560MWh ‘Largest Battery System In Latin America’ For Solar And Wind In Chile AES Gener has held a virtual groundbreaking ceremony to mark the start of construction on a 112MW / 560MWh battery energy storage system project in Chile, Latin America. IRENA And CDF Partner On Energy Transition Funding For Caribbean Islands IRENA and CDF have signed a Memorandum of Understanding to support a transition from fossil-fuel dependency to a more resilient and sustainable low carbon economic development model in the Caribbean Small Island Developing States (SIDS). The two will help the region to reduce economic and social vulnerability to the adverse impacts of climate change. |
EUROPEItaly Is Poised For A Renewable Energy Renaissance In 2021 New initiatives and technologies are pushing Italy to the forefront of carbon reduction within Europe. In 2018, renewable energy accounted for 18.9% of energy in the European Union. However, renewable energy use has varied between countries, which means that some countries vastly underperform on the sustainability index. JinkoSolar To Supply 204 MW Of Swan Bifacial Modules To Juwi Hellas For The Biggest Bifacial Solar Project Ever Built In Europe JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it has signed a Module Supply Agreement for the Kozani project (“Kozani”) in the north of Greece, which has been developed by juwi Hellas Renewable Energy Sources S.A. (“juwi Hellas”). Construction of the solar park will commence in November 2021 and use 204 MW of Swan bifacial modules with transparent backsheet from DuPont. Total Partners With Google To Deploy AI-powered Solar Energy Tool French energy company Total has developed a tool to determine solar energy’s potential of rooftops. Partnering with Google Cloud, the tool will help popularise the deployment of solar energy panels in households. The tool Solar Mapper uses artificial intelligence (AI) algorithm to extract data from satellite images. AI helps facilitates sharper and quicker estimation of solar energy potential than present tools, the company said in an official statement. |
ASIAWorld Bank Offers $1.15 Billion For Two Power Projects In Pakistan The World Bank has signed agreements with the Government of Pakistan to provide concessional financing of $1.15bn for two power projects. The financing will go toward the development of a hydropower and renewable energy project in Khyber Pakhtunkhwa. It will also fund the transmission of power from the DASU Hydropower Project. Solar To Power To Drive 50% Surge In Asia-Pacific Renewable Energy Capacity By 2025 Analysis from Rystad Energy has found the installed capacity of renewable energy in the Asia-Pacific region is set to soar from 497 gigawatts (GW) this year to 754 GW in 2025. The driving force behind the increase will be solar, with regional capacity nearly doubling from 192 GW in 2020 to 349 GW in the next five years. Massive Asian Renewable Energy Hub Grows To 26GW Of Wind And Solar The Western Australian government has granted state environmental approvals to the massive first stage of the Asian Renewable Energy Hub, which proposes to build up to 15,000MW of new wind and solar power in the state’s Pilbara region and has expanded its long term plans to an extraordinary 26,000MW. |
MENAEgypt Negotiating With Foreign Investors On New Wind + Solar Projects Egypt is currently negotiating with foreign investors on new wind and solar projects that will generate a combined 2 GW of power, Electricity Minister Mohamed Shaker said according to CNBC Arabia reports. Speaking at the inauguration of Siemens Energy’s training academy and service center at the Suez Canal Economic Zone, Shaker said that the negotiations for the projects, which will raise the total electricity generated from renewables in the country to 6 GW, will conclude before the end of the year. Dubai Electricity Is Debt-Free After $1.5 Billion Bond Repayment Dubai Electricity and Water Authority (DEWA) has become debt-free after the state-owned utility repaid a $1.5 billion bond this month. “New projects worth over AED80 billion ($22bn) are either ongoing or envisaged for completion in the next five years,” chief executive officer Saeed Al Tayer said in a statement. “DEWA is not necessarily counting on new borrowings for that, rather we will use internal resources and leverage public private partnerships.” NEOM Moves Headquarters To Northwest Of Saudi Arabia NEOM Co. on Sunday officially started operating from its new headquarters at the project site in the northwest of the Kingdom after it received approval from its Board of Directors to relocate. The move represents an exciting new phase in NEOM’s development that will accelerate the pace of growth and the level of foundation construction work. |
AFRICADMRE Must Prioritise Energy Democracy, Renewable Energy The Department of Mineral Resources and Energy (DMRE) Minister Gwede Mantashe gazetted amendments to the Electricity Regulations on New Generation Capacity. These will allow municipalities to pursue their own power generation projects. 18 Clean Energy Suppliers Get $4.6 Million Under KOSAP At least 18 companies operating in renewable energy have just received 500 million Kenyan shillings (nearly US$4.6 million) under the Kenya-Off-Grid Solar Access Project (KOSAP). The funding will enable them to provide stand-alone solar systems and clean cooking solutions to households in 14 counties, currently underserved by the national electricity grid. REPP Extends Its Call For Renewable Energy Projects By One Week The Renewable Energy Performance Platform (REPP), a platform funded by the UK government’s International Climate Finance, has just indicated that it is extending its call for proposals for financing renewable energy projects dedicated to the grid by one week. |
AUSTRALIASouth Australia Reaches 100% Solar And Then 100% Wind Power In Same Week This was not the first time for wind, as it occurs reasonably often and for sometimes lengthy periods, but the fact that the two events occurred within days of the other are nevertheless important milestones. And although the transition to clean energy is far from complete, it does give some insight into what the state Liberal government’s target of “net 100 per cent renewables” by 2030 might look like. Western Australia’s Multi-Gigawatt Green Hydrogen Giant Edges Forward Western Australia has granted environmental approval for the first 15GW stage of a renewable energy hub focused on green hydrogen production that could eventually reach 26GW of solar and wind generation. Iberdrola Begins Construction On 317 MW Hybrid Wind-solar Plant In Australia The AUD 500 million facility is Iberdrola’s first renewable energy project in the country, which has become one of the great growth region’s for the Spanish company. The Port Augusta project, located in the state of South Australia, is so far its first hybrid solar wind power plant in the world and represents an investment of AUD 500 million (€305.3 million). |
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