The US Bureau of Ocean Energy Management (BOEM) is continuing its efforts to expand wind energy capacity in the Gulf of Mexico. In line with the government’s ambitious target of deploying 30 gigawatts of offshore wind energy by 2030, BOEM is set to auction off four new wind energy areas in the region. The recently … Continue reading New Wind Energy Areas in the Gulf of Mexico
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COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030
Abu Dhabi, United Arab Emirates, 30 October 2023 – The COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) launched a joint report today on the sidelines of the Pre-COP event in Abu Dhabi, titled “Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C.” The … Continue reading COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030
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China’s installed solar and wind power capacity saw robust growth this year
China’s installed solar and wind power capacity saw robust growth this year amid the country’s green development push, according to the National Energy Administration, Azernews reports, citing Xinhua. At the end of September, the country’s installed solar power capacity was approximately 520 million kilowatts, up 45.3 percent year on year, and its installed wind power … Continue reading China’s installed solar and wind power capacity saw robust growth this year
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Suzlon secures 50.4 MW wind order for its 3 MW wind turbines from Juniper Green Energy Private
To supply 16 wind turbines with a rated capacity of 3.15 MW each. Wind farm to be completed in 2025 at Dwarka district in Gujarat. Part of bid awarded to Juniper Green Energy Private Limited by Gujarat Urja Vikas Nigam Ltd. (GUVNL). A project of this size can provide electricity to ~38 thousand households and … Continue reading Suzlon secures 50.4 MW wind order for its 3 MW wind turbines from Juniper Green Energy Private
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Financial and accounting implications of PPA
It is important to anticipate the financial and accounting implications of preparing PPA contracts. There are important differences in the accounting treatment between physical and financial PPA and, in the case of the latter, their accounting can lead to volatility in the income statement. Experts stress the relevance of long-term price forecasts for a reliable … Continue reading Financial and accounting implications of PPA
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Installation of Türkiye´s highest capacity wind energy project to be kicked off
The main components of the first wind turbines for Akköy Wind Power Plant (WPP) will be on their way to the site in Türkiye shortly. At the 5th Turkish-German Energy Forum in Ankara on 27 October, ENERCON CCO Ulrich Schulze Südhoff and Sabanc? Holding Energy Group President K?vanç Zaimler announced that the units were ready … Continue reading Installation of Türkiye´s highest capacity wind energy project to be kicked off
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Vattenfall builds wind farm Velinga
Vattenfall has taken an investment decision to start building an onshore wind farm in Velinga, outside Tidaholm, in the south of Sweden. Construction will start before year end and the wind farm will be ready for commission in early 2026. The wind farm will have an output of 67 MW and an annual production of … Continue reading Vattenfall builds wind farm Velinga
Continue readingCIP and Avangrid Announce Largest Single Asset Tax Equity Financing and First Large-Scale Offshore Transaction in the U.S.
Copenhagen Infrastructure Partners (CIP), a global leader in green energy investment, and Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that the Vineyard Wind 1 project closed a first-of-its-kind tax equity package for commercial-scale offshore wind with three US-based banks. The $1.2 billion dollar investment transaction … Continue reading CIP and Avangrid Announce Largest Single Asset Tax Equity Financing and First Large-Scale Offshore Transaction in the U.S.
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Statkraft strengthens its position in Sweden through wind power acquisitions
Statkraft has acquired two companies in onshore and offshore wind power: Njordr Offshore Wind AB, which develops offshore wind power and Svevind Nordic AB, a development company in onshore wind power. With the purchase, Statkraft underlines its ambitions to continue the Swedish growth journey in renewable energy and contribute to the energy transition. Svevind Nordic … Continue reading Statkraft strengthens its position in Sweden through wind power acquisitions
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Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17%
Investments reach €11 billion in the last 12 months Net profit up 17% to €3.64 billion Dividend FY 2023 Net profit outlook raised to double-digit growth Reinforcing financial strength Strategic Plan Delivery Growth based on Networks, with regulatory frameworks covering 96% of asset base closed to 2025 Renewable capacity up 3,100 MW in the last … Continue reading Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17%
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MENA’s Transforming Role in an Evolving Energy Landscape
The Middle East and North Africa (MENA) region has been leading fossil fuel production for decades, creating tremendous economic growth. However, fossil fuel-driven growth has proven to be unsustainable for both people and planet. As the climate action clock ticks, and with the global community in a race to curb carbon emissions, the MENA region … Continue reading MENA’s Transforming Role in an Evolving Energy Landscape
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RE-Source 2023 marks 7.8 GW PPA record but industry urges for barriers to be removed to reach EU net zero objectives
Consistent growth of renewable corporate power purchase agreements (PPAs) proves that corporates are stepping up their commitments to the energy transition. But corporate energy buyers are calling on policymakers to use the EU Electricity Market Design (EMD) reform to remove the remaining barriers to PPAs. Record-breaking year in the EU PPA market with companies procuring … Continue reading RE-Source 2023 marks 7.8 GW PPA record but industry urges for barriers to be removed to reach EU net zero objectives
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New ACP Report Shows Climate Change and Natural Forces Have Impact on Ocean Currents and Whale Habitats
Findings consistent with recent National Academies of Science analysis that shows insufficient evidence exists to connect offshore wind to effects on whale prey A new report commissioned by the American Clean Power Association (ACP) confirms what other scientific bodies have underscored: Climate change is having a far greater impact on the ocean and whale habitats … Continue reading New ACP Report Shows Climate Change and Natural Forces Have Impact on Ocean Currents and Whale Habitats
Continue readingCopenhagen Infrastructure Partners announces large-scale project award for next wave of offshore wind energy in New York
1.3 GW project will deliver billions in economic benefits, create thousands of jobs, and provide clean and affordable energy for more than 700,000 homes. Copenhagen Infrastructure Partners, through its development platform Vineyard Offshore, was today awarded 1.3 gigawatts (GWs) in the latest solicitation for offshore wind power held by the New York State Energy Research … Continue reading Copenhagen Infrastructure Partners announces large-scale project award for next wave of offshore wind energy in New York
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Acciona Energía signs new renewable PPA with Stanwell Corporation
ACCIONA Energía has signed a 15-year Power Purchase Agreement (PPA) with Queensland’s publicly owned energy company Stanwell Corporation. The contract encompasses the supply of all the renewable electricity produced at the photovoltaic plant Aldoga (380MW), currently under development and located 20 kilometers north-west of Gladstone on the central Queensland coast. Stanwell plans to use the … Continue reading Acciona Energía signs new renewable PPA with Stanwell Corporation
Continue readingACP Statement on New York Announcing 25 New Clean Energy Projects
The American Clean Power Association (ACP) released the following statement from Josh Kaplowitz, Vice President for Offshore Wind, after New York Governor Kathy Hochul announced the solicitation awards for three offshore wind and 22 land-based renewable energy projects totaling 6.4 gigawatts (GW) of clean energy: “The projects announced today represent $20 billion in new investments … Continue reading ACP Statement on New York Announcing 25 New Clean Energy Projects
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Offshore wind energy at a pivotal moment
There is a great Philip Larkin poem, Wires, about the experience of young steers that believe the open spaces of the prairie are limitless, until they bump up against an electric fence and realise for the first time the constraints on their freedom. New industries suffer a similar experience when they hit their first downturn. … Continue reading Offshore wind energy at a pivotal moment
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The energy world is set to change significantly by 2030, based on today’s policy settings alone
Major shifts underway today are set to result in a considerably different global energy system by the end of this decade, according to the IEA’s new World Energy Outlook 2023. The phenomenal rise of clean energy technologies such as solar, wind, electric cars and heat pumps is reshaping how we power everything from factories and … Continue reading The energy world is set to change significantly by 2030, based on today’s policy settings alone
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Ingeteam consolidates its position as world’s top independent supplier in the wind energy sector
The global wind industry has passed the landmark figure of one terawatt (TW) of global installed capacity. It has taken more than 40 years to reach this milestone, but data from the Global Wind Energy Council (GWEC) indicate that with the wind industry continually gaining momentum, the next TW will take less than 7 years … Continue reading Ingeteam consolidates its position as world’s top independent supplier in the wind energy sector
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Record wind energy production in Portugal and Spain in the third week of October
In the third week of October, European electricity market prices remained generally stable, with an upward trend in most cases compared to the previous week. However, in the MIBEL market prices fell due to high wind energy production, which reached an all?time record in Portugal and the highest value so far in 2023 in Spain. … Continue reading Record wind energy production in Portugal and Spain in the third week of October
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