Albanese: Australia and India will boost their cooperation in renewables and defence
Australia and India will work together to increase investment in renewable energies, such as solar manufacturing, batteries, and mineral processing. This was the announcement made by Prime Minister Anthony Albanese during a G20 meeting on the sidelines. Albanese, the Australian Minister for Defence and Maritime Security, said that Australia and India would also like to increase their defence and maritime cooperation.
South Asia's solar power push is facing a land battle
Food and jobs are at risk when cropland and pastures are taken away. By BhaskerTripathi and Md. Modhera’s 6 megawatts (MW) of solar power and battery storage system were built in 2022, despite the opposition of local farmers who had filed a lawsuit in the highest court for the state in 2020 to stop its construction. According to the research group Land Conflict Watch…
India's Apollo Green Energy plans a solar module plant and targets an IPO in 2025.
The chief executive of India's Apollo Green Energy said that the company, which is an engineering and construction company, intends to build a 500 Megawatt (MW), solar module plant within two to three years, and to tap into domestic public markets by 2025 for new projects. Sanjay Gupta, the CEO of the company that focuses on renewable energy projects, said…
UK increases windfall taxes on North Sea Oil and Gas Producers
Finance Minister Rachel Reeves said on Wednesday that the British government would increase its windfall tax for North Sea oil-and-gas producers from 35% to 38% and extend it by one year. Reeves, who presented the first budget of the new Labour Government, said that the increase in the windfall tax - also known as the Energy Profits Levy - will come into effect on November 1. The headline tax rate for oil and gas activity is now 78%.
Spanish renewables warns against threats to investment
Renewables lobby APPA warned that the mismatch between an increasing supply of renewable energy and electricity demand, which is struggling to grow in tandem with low wholesale power prices threatens future investment in the sector. He said that, in terms of pricing, "By 2024 we expect to have about 10% of our hours at zero, or even negative, power prices." April was the lowest month of the entire historical series.
Britain sets up funding model for renewable Energy Storage Projects
The UK will guarantee a minimum income for developers of renewable energy projects such as pumped-hydro to encourage investment in technologies which help Britain meet its climate goals. Britain aims to decarbonise the power sector by 2030. This will require an increase in renewable energies, like wind and solar energy, as well projects that can store energy in the event of a lack of wind or sunlight.
Sources say that India's Adani Group is planning 10 GW of overseas hydroelectric projects
Four sources familiar with Adani Group's plans said that the group plans to build ten gigawatts worth of hydroelectric projects overseas in the next few years. This will help the conglomerate achieve its goal of achieving net zero carbon emission by 2050. The billionaire Gautam Adani announced that his group, which includes businesses ranging from rice to concrete…
India's Jakson Green closes to $476 million in funding for renewables capacity expansion
Krishnan Kannan, the Joint Managing Director of India's Jakson Green, said that they are closing in on raising more than 40 billion rupees ($476.4 millions) to expand their renewable energy capacity. By early 2026, the privately-held company will have an additional 1 gigawatt of capacity. "We're working with a partner strategic to attract the investment." Kannan said that the investment for this 1 GW will be approximately 40 billion rupees…
Tata Power, an Indian company, will invest $14.3 billion in Rajasthan over a period of 10 years.
Tata Power, an Indian company, announced on Monday it would invest 1.2 trillion rupees (14.32 billion dollars) over the next ten years in Rajasthan in the north of India. The majority of this money will go towards renewable energy projects. Tata Power and the State signed an agreement for the development of renewable energy projects. This includes solar module manufacturing…
Manager of China's Sany says that the company plans to start European production by 2026.
Sany, a Chinese wind turbine manufacturer, is planning to begin production in Europe in 2026. The company is already in advanced discussions with potential European clients. In April, the European Union launched an investigation into the subsidies that Chinese turbine manufacturers received as Europe sought to protect its own industry. "We have reduced the number of possible locations to three." "Germany is one of our first three options...
Exagen, a British firm that specializes in solar energy and battery storage, has been acquired by Octopus
Octopus Energy Generation acquired Exagen Group, a developer of solar and battery storage systems. This acquisition will allow the company to increase its renewable energy pipeline. Exagen is a developer of utility-scale renewable and energy storage projects. It announced on Tuesday that it had a generation capacity in England of over 2.4 gigawatts. Octopus acquired a 24% initial stake in Exagen in August 2022.
Hero Future Energies, a company in India, plans to invest $20 billion over six years in renewable energy.
Rahul Munjal, Chairman of Hero Group's Power Production Unit, said at an industry event Tuesday that the unit will invest $20 billion in six years to increase its production capacity by 16 times. Hero Future Energies is backed by investors like KKR, International Finance Corporation and a number of other global companies. The company aims to reach 30 gigawatts by 2030. Indian companies are increasing their renewable energy capacities.
European and Southern African Development Banks to lend an extra $220 million to clean energy projects
The European Investment Bank and Development Bank of Southern Africa announced on Wednesday that, together, they will lend an additional 200 millions euros ($220.16million) to renewable energy project in South Africa. The EIB and DBSA have pledged 400 million euros at the COP27 Climate Summit in 2022 for independent power projects to be supported in Africa's most developed economy.
Ministry: Romania will launch CfD-based support scheme for green energies in mid-November
Romania will launch its first auction of onshore renewable energy projects by mid-November through a contract-for-difference (CfD) support scheme funded by the European Union, the energy ministry said on Monday. It said that the scheme would set a strike-price of 78 Euros per Megawatt Hour for solar projects, and 82 Euros for wind. The long-awaited low carbon…
Indonesia's President urges developed countries to invest in green economies
Joko Widodo, the Indonesian President on Thursday, urged developed countries to invest in energy solutions and climate change in Indonesia. He highlighted its enormous potential for renewable energy projects and carbon reduction. Jokowi (as the incoming president is known) said that the Southeast Asian country has over 3,600 Gigawatts of renewable power potential.
Orsted and Iberdrola among the winners in record British renewable energy auction
Orsted and Iberdrola are among the winners in a British renewable energy auction that supported a record-breaking number of projects. The government announced this on Tuesday. The Labour government that came to power in July plans to decarbonise electricity by 2030. This will require an increase in renewable energy capacity, such as solar and wind. Ed Miliband…
South African private energy producers seek fair deal on output curbs
Industry executives claim that South African private energy producers want compensation for revenue lost due to Eskom's request to limit the electricity supplied to the national grid. Eskom has sent a proposal to South Africa's energy regulator for the introduction of a compensation mechanism to compensate Independent Power Producers (IPPs), who have lost revenue due to curtailment rates up to 10%.
Sunly raises 300 million euros for renewable energy projects in Baltics, Poland and Baltics
The Estonian renewable energy company Sunly raised $300 million in debt financing in order to accelerate construction of 1.3 Gigawatts of wind, solar and storage capacity in the Baltics and Poland. It said that the financing provided by Rivage Investment and Copenhagen Infrastructure Partners (CIP), as well as Norway's Kommunal Landspensjonskasse, brings the total capital raised up to 765 millions euros.
Australia approves $13.5 billion project to export solar energy to Singapore
Australia announced on Wednesday that it has given the green light to a A$20 Billion ($13.5 Billion) solar project. The project will ship energy from the giant solar farm located in the north of the country to Singapore via a 4,300 km undersea cable. Tanya Plibersek, Environment Minister, said SunCable’s Australia-Asia Power Link Project would help meet the growing demand for renewable energies at home and abroad.
Italy cracks down on illegal green energy plants
Ministers announced that Italy had passed a law on Wednesday to simplify the approval process for renewable energy projects. The move is part of an effort to increase green power production in order to meet decarbonisation targets and boost the nation's goals. Giorgia Meloni, the right-wing leader of Italy's government, has pledged to boost solar power capacity by 50 gigawatts (GW) or more by 2030.
