Potentia Energy purchases major Australian renewable energy assets
Potentia Energy is a joint venture of Italy's Enel and Japan's INPEX Corp. It announced Thursday that it will buy control stakes in renewable energy projects worth 1 gigawatt in Australia. This investment comes from investors in private equity funds and superannuation funds. Potentia stated that the acquisition included 700 megawatts in wind and solar assets and 430 Megawatts in late-stage projects…
Orsted cuts 2030 investment plan by 25%
Orsted, a Danish renewable energy company, announced on Wednesday that it had decided to reduce its 2030 investment plan by 25% as the offshore industry struggles with rising costs and issues in the supply chain. The company will invest between 210 billion and 230 billion Danish Crowns ($29.32 to $32.12 billion), down from the previous target of around 270 billion Danish Crowns.
Engie continues to see a strong US demand for renewables
Edouard Neviaski, executive vice president of French power company Engie, said that the U.S. is still a major market for the company in terms of renewable energy projects. The U.S. president Donald Trump ordered a stop to spending on the Inflation Reduction Act and Infrastructure Investment and Jobs Act. These climate and infrastructure laws were signed into law in 2009 by his predecessor Joe Biden.
Norway's wealth funds continues to invest in renewables, despite the market downturn
A senior fund official stated on Thursday that Norway's $1.8 billion wealth fund, which is the largest in the world, will continue to invest in renewable assets, despite recent market downturns. The fund will also seek out opportunities both in the public and private markets. In 2024, renewable energy assets will have underperformed the market significantly.
Italian government appeals Sardinia's law restricting green projects
The Italian government filed a complaint against a law that was passed by the regional government of Sardinia in December, which placed strict limits on the development and implementation of renewable energy projects on the island. The cabinet announced the appeal late on Tuesday, and it is the latest in a tug of war between the central government, and Sardinia, over the development of green energy.
MUFG Americas CEO: AI data centres will boost renewable energy demand, even under Trump
Mitsubishi UFJ Financial Group, the largest Japanese banking group, has said that the U.S.'s shift to renewable energy will continue under Donald Trump. Kevin Cronin, chief executive officer of MUFG Americas, said in an interview that the anti-renewables rhetoric of President-elect Trump has not led to a change in MUFG Americas' strategy. Cronin stated that…
Romania allocates 1.5 GW of renewable energy projects
The Energy Ministry announced in a Monday statement that Romania had allocated 1.5 gigawatts of renewable energy project funding through an EU-funded contract for difference scheme. The long-awaited low carbon energy support scheme fixes the price of electricity to providers at a level agreed for 15 years. The Ministry selected 10 projects for onshore wind worth 1.09 GW and 11 projects with a total capacity of 432 MW.
Britain announces plan to encourage the development of clean energy projects
The UK launched on Friday a plan that will make it easier for developers and investors to build clean energy project, which they hope will help them meet their climate targets as well as create jobs. The UK has set a goal to decarbonise the power sector largely by 2030. This will reduce its dependence on gas-fired plants and increase its renewable energy capacity rapidly.
Iberdrola Gets Portugese Nod for Wind Farm Start
Iberdrola has received a production license from the Portuguese Directorate-General for Energy and Geology of Portugal (DGEG), taking another step towards the construction of the largest wind farm in Portugal.Located in the districts of Vila Real and Braga, in northern Portugal, with a total investment of around €350 million, this project reinforces Iberdrola's commitment to environmental goals…
Adani allegations bring India's clean-energy conundrum to the forefront
The allegations of bribery against Adani Group's founder Gautam Adani highlight the increasing difficulty that India's renewable energy developers have in finding buyers for their power. Officials say that while India's central governments wants to move away from coal-fired power generation and towards renewable energy sources, state-owned companies in charge of supplying electricity have been slow to strike deals. U.S.
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…
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...
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…
