According to IRENA’s World Energy Transition Outlook, hydrogen and its derivates are projected to make up 14% of global total final energy consumption by 2050 in a world aiming to stay under a 1.5-degree temperature increase. The eighth meeting of the Collaborative Framework on Green Hydrogen, therefore addressed the barriers stakeholders face when entering and … Continue reading Removing Barriers for Green Hydrogen Deployment
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Record Third Quarter for US Clean Energy Installations
The American Clean Power Association (ACP) today released the Clean Power Quarterly Market Report | Q3 2023, showing that the industry brought online 5,551 megawatts (MW) of utility-scale clean power capacity in the third quarter of 2023, enough to power 813,000 American homes. Third quarter installations increased 13% over the same period in 2022 and … Continue reading Record Third Quarter for US Clean Energy Installations
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EEDP Renewables net profit increases to 467 million euros in the first nine months of 2023
Recurring net profit in the first nine months of 2023 increased 12% compared to the same period in 2022, and investment amounted to €3.4bn, with a focus on Europe and North America; EDPR added more than 600 MW in solar capacity since the beginning of the year and has 5.2 GW in wind and solar … Continue reading EEDP Renewables net profit increases to 467 million euros in the first nine months of 2023
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Vestas wins first order for V172-7.2 MW wind turbines for 43 MW wind project in Germany
Vestas has received its first firm order for the V172-7.2 MW wind turbine, the latest addition to Vestas’ EnVentus platform. The order was placed by the developer Uhl Windkraft and consists of six wind turbines for the Hoßkirch wind project, a project in collaboration with the Koenigsegg-Aulendorf Comital House. The order includes the supply, delivery … Continue reading Vestas wins first order for V172-7.2 MW wind turbines for 43 MW wind project in Germany
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Ørsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments
Following decisions of its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and 2 projects and has taken final investment decision on the Revolution Wind project. The decisions are part of an ongoing review of Ørsted’s US offshore wind portfolio. Impairment updateOn 29 August 2023, Ørsted announced anticipated impairments on its … Continue reading Ørsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments
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ACP Statement on BOEM Approval of Coastal Virginia Offshore Wind Project
The American Clean Power Association (ACP)?issued the following statement today from JC Sandberg, Chief Advocacy Officer after the U.S. Bureau of Ocean Energy Management (BOEM) issued a final Record of Decision for Dominion Energy’s Coastal Virginia Offshore Wind (CVOW) project:?? “Offshore wind is a remarkable source of clean energy with immense potential that will enhance … Continue reading ACP Statement on BOEM Approval of Coastal Virginia Offshore Wind Project
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Mainstream and Hexicon seeks to build gigawatt-scale floating wind farm off Sweden
Freja Offshore, a joint venture between Aker Horizons-controlled Mainstream Renewable Power and Stockholm-based floating wind developer Hexicon, has submitted plans for another 2.5 GW floating wind power in Swedish waters. The wind farm called Dyning will be able to deliver 10 TWh annually which can supply more than the entire energy need of the regions … Continue reading Mainstream and Hexicon seeks to build gigawatt-scale floating wind farm off Sweden
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How can sustainable debt support China’s energy transition?
Sustainable debt has become a popular tool to fund green and sustainability-linked activities since it first emerged in the mid-2010s, providing a tailwind to clean energy investment. Global sustainable debt issuances have risen nearly tenfold since 2016, peaking at over USD 1.7 trillion in 2021. These instruments have been leveraged by governments to raise capital … Continue reading How can sustainable debt support China’s energy transition?
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Statkraft releases report on global energy trends and scenarios for 2050: Growth in renewables will continue despite international turmoil
“Despite increased geopolitical unrest and rivalry, renewable energy growth remains strong and won’t stop or reverse. The cost of wind and solar power, batteries and electric vehicles have dropped significantly over the last decade, resulting in them replacing fossil fuels. Energy security has also become a top priority on the international agenda, resulting in an … Continue reading Statkraft releases report on global energy trends and scenarios for 2050: Growth in renewables will continue despite international turmoil
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Prysmian signs approx. €900 million agreement for the Clean Path New York
Prysmian Group, world leader in the energy and telecom cable systems industry, has signed an agreement worth approximately €900 million with Clean Path New York to provide submarine and land power cable systems for one of the largest transmission infrastructure projects in the United States. Clean Path New York is an $11 billion renewable energy … Continue reading Prysmian signs approx. €900 million agreement for the Clean Path New York
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Solar and wind power curtailments are rising in California
The California Independent System Operator (CAISO), the grid operator for most of the state, is increasingly curtailing solar- and wind-powered electricity generation as it faces the rapid growth of wind and solar power in California. Grid operators require wind and solar generators to curtail production to reduce energy output below the levels they would have … Continue reading Solar and wind power curtailments are rising in California
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New Wind Energy Areas in the Gulf of Mexico
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
Continue readingChina’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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