Scatec secures power sale deal for Egypt's hybrid solar and battery project
Scatec, a Norwegian renewable energy developer, announced on Thursday that it had signed a power purchase agreement with Egyptian Electricity Transmission Company for 25 years. The project is Egypt's first hybrid power system combining solar and battery storage. Scatec announced that it had signed a 25-year PPA in U.S. dollars with EETC to build a solar power plant of 1 gigawatt and a battery storage system (BESS) of 100 megawatts. The company has not disclosed the value of the contract.
Megaton Project: Denmark's GreenGo to Build 4 GW Green Fuel Plant
Danish renewable energy developer GreenGo Energy said on Tuesday that it's cooperating on 60 billion Danish crowns ($8.77 billion) project to develop a green energy park.The company is cooperating with a local municipality in western Denmark to develop 4 gigawatt (GW) of solar and wind energy for green fuel production, helping to cut emissions, it said. The "Megaton" project is based in the Ringkobing-Skjern municipality, it said in a statement.
RP Global to develop a 1GW solar PV and wind project pipeline in Poland
Renewable energy developer and investor RP Global is working on a pipeline of projects in Poland to deliver more than 1,000 MW in the next two to four years. The first projects to be commissioned from this pipeline by mid-2022 include five Solar PV parks totalling approximately 180 MW, located in different regions of Poland.RP Global has been present in Poland for over 15 years, having developed and built five wind farms in the country.
Offshore Oil Firm Eco Atlantic Launches Renewables Division
Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar energy-focused company Eco Atlantic Renewables, citing, in part, a lack of oil and gas acquisition opportunities.Formed with Nepcoe Capital Partners Ltd. ("Nepcoe"), a renewable energy developer and investment company, the aim of Eco Atlantic Renewables is to source, acquire and develop an exclusive pipeline of potential high yield solar projects. Eco (Atlantic) Oil & Gas Ltd.
Partners Group invests in Greenlink
Private markets investor Partners Group has provided equity financing for the 500-MW Greenlink interconnector, the subsea connection between Wales and Ireland in exchange for a stake in the scheme.To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.Greenlink…
NRCAN Grant Triggers Major Investment in the Bay of Fundy
The next wave of tidal energy development at the FORCE facility in the Bay of Fundy Nova Scotia has been triggered by a substantial grant of $29,750,000 under the Emerging Renewable Power Program (ERPP) from Natural Resources Canada (NRCan).European based renewable energy developer DP Energy is managing two berths in the Bay of Fundy through its Canadian registered company, Halagonia Tidal Energy Limited. It intends to…
Suzlon Energy Wins Approval to Build Wind Farm in Bosnia
The Bosnian unit of Indian renewable energy developer Suzlon Energy on Wednesday won the right to build a 25.2 megawatt (MW) wind farm in Bosnia to help it cut greenhouse gas emissions and meet the EU renewable energy standards.The concession was awarded for a period of 30 years with a possibility to extend it.The wind farm, consisting of 12 turbines with 2.1 MW capacity each, will be built in Hadzici, a suburb of the Bosnian capital Sarajevo.
Amarenco Acquires Renewable Energy Developer Groupe Carré
Amarenco, an independent power producer based in Ireland, has announced its acquisition of Groupe Carré, a renewable energy project developers active in France. This acquisition supports Amarenco’s strategic objectives and strengthens its position in France’s promising wind and solar energy markets. Operating under the brand name Amarenco France, the new entity has the depth of skills, experience and financial girth to quickly become one of the main vertically integrated IPPs active in the country.
SunEdison Delays Filing Q2 Results
Bankrupt solar company SunEdison Inc on Friday joined its "yieldcos" in delaying earnings report for the second-quarter ended June 30. SunEdison is yet to file its 2015 annual repot, as well as its first-quarter report, after the company identified "material weaknesses" in its financial reporting, primarily related to problems with a newly implemented IT system. The company said the Chapter 11 bankruptcy filing also contributed to the delay. Once the fastest-growing U.S.
Ocean Energy Europe Appoints Co-Presidents
Ocean Energy Europe has elected Thierry Kalanquin (DCNS) and Simon de Pietro (DP Energy) as its new co-Presidents. The pair will combine the expertise of an industrial scale technology manufacturer and a prominent renewable energy developer to help steer Europe’s ocean renewable energy industry sector to commercial readiness. Europe’s ocean energy industry is entering a new phase of development in 2016 with several pre-commercial farms hitting the water around Europe.
SunEdison Files for Chapter 11 Bankruptcy Protection
Solar energy company SunEdison Inc filed for creditor protection on Thursday, making it one of the largest bankruptcies by asset value involving a non-financial company in a decade. Once the fastest growing U.S. renewable energy developer, SunEdison embarked on an aggressive acquisition strategy that left it struggling with $12 billion in debt as of Sept. 30. (Reporting by Arathy S Nair and Amrutha Gayathri in Bengaluru)
RES Secures Financing for UK Wind Farm Projects
Britain's Renewable Energy Systems (RES) has secured 34 million pounds ($53 million) from German bank Nord/LB to help finance up to 200 megawatts (MW) of wind farm projects in Britain, the company said on Wednesday. The financing is in the form of a 15-year loan, said Alison Jones, community relations manager at RES. The first projects to be financed are the renewable energy developer's 15-MW Jack's Lane wind farm in Norfolk and its 10-MW Woolley Hill wind farm in Cambridgeshire, which are in operation.
Power for Next Work Day Down on Less Demand, More Supply
Central European power for the next working day fell on Friday due to a holiday in the region expected to crimp demand and forecasts for strong renewable supply that would increase supply, traders said. Czech power for Monday delivery fell to 19 euros ($25.87) per megawatt hour in the over-the-counter market, well below the Friday delivery price of 32.90 euros and the day ahead price of 25 euros. A holiday in Germany and Austria on Monday will leave central Europe with more supply…
