Vestas plans to establish a second offshore factory in Poland to meet growing demand for offshore wind in Europe
Vestas plans to establish a new blade factory in Szczecin, Poland, to support Europe’s offshore wind industry. The factory will produce blades for Vestas’ flagship offshore wind turbine, the V236-15.0 MW, and is expected to create over 1,000 direct jobs.
This investment, along with the previously announced plans for an assembly factory for offshore nacelles, demonstrates Vestas’ commitment to leading the development of a sustainable supply chain in Europe. The company aims to prioritize markets with long-term certainty around market conditions and sustainable order volume, and the investment in Poland reflects this strategic approach.
Source: Vestas
Greenvolt wins 1.2GW of BESS contracts in Poland capacity market auction, claiming 70% of total
The recent capacity market auction in Poland revealed a significant reduction in the clearing price, with IPP Greenvolt winning the majority of BESS awarded contracts totaling around 1.7GW. The auction cleared at a fixed, consumer price-indexed (CPI) price of PLN 244.90/kW (US$61.73) per year for contracts starting in 2028.
A total of 159 projects, totaling over 7GW of power, were awarded contracts, with 111 in Poland and 48 abroad. Greenvolt won 1.2GW of 17-year contracts for six BESS projects, over 70% of the total capacity awarded to BESS technology. This marks a significant development in Poland’s energy market and Greenvolt’s expansion into renewable energy and energy storage.
Source: Greenvolt
Egypt signs $1.5bn energy agreement with ACWA Power
The Egyptian government has signed a $1.5bn wind energy deal with Saudi-led consortium Acwa Power for a 1.1GW wind energy project in the Gulf of Suez and Jabal El Zayt areas. The project, designed to use the latest wind turbine technologies, is expected to save about 840,000 tonnes of fuel each year and reduce 2.4 million tonnes of carbon dioxide emissions annually. It will also provide 6,000 direct and indirect job opportunities.
The investment comes as the Egyptian economy recovers from global economic shocks, with efforts to improve the country’s investment climate through regulatory laws and hosting COP27 in November 2022, attended by over 92 heads of state and 35,000 representatives from 190 countries.
Source: Acwa Power
GreenIT links with Galileo to build 140MW solar plants in Italy
GreenIT, a joint venture between Eni’s subsidiary Plenitude and CDP Equity, has signed an agreement with Galileo to develop eight solar projects across Italy. These projects will be located in the southern, central, and northern regions of the country with a combined capacity of 140MW. The operational phase of the plants is outlined in the 2023–2027 Industrial Plan, with an investment of €1.7bn ($1.83bn) to achieve an installed capacity of 1GW.
This will generate enough electricity for 90,000 households and contribute to Italy’s 2030 decarbonisation targets. The CEO of GreenIT, Paolo Bellucci, expressed excitement about the agreement and highlighted the contribution of technologically advanced projects to GreenIT’s portfolio.
Source: GreenIT
GE Vernova wins turbine order for SunZia wind project in New Mexico
GE Vernova’s onshore wind business has secured an order from Pattern Energy to supply 2.4GW turbines for the SunZia Wind project in New Mexico, US. The project will be paired with SunZia Transmission, an 885km-long, 525kV HVDC line with a transmission capability of 3GW.
The wind project, located in New Mexico, will utilize 674 3.6-154 turbines supplied by GE. The collaboration between GE and Pattern Energy aims to optimize site performance and reduce variations. GE Vernova will also provide consulting and financial services for the project. The project reinforces the key role of wind power in delivering renewable energy to meet the growing demand for power in the western US.
Source: GE Vernova
Saudi Ministry Of Energy And NEOM CEO Forge Partnership For Advancements In Energy Sector Including Renewable Energy
The memorandum of understanding (MoU) signed by His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy of Saudi Arabia, and NEOM CEO Engineer Nazmi Al-Nasr in Riyadh aims to enhance collaboration in the energy sector. The MoU emphasizes joint efforts in developing modern energy technologies, adherence to legal frameworks, and the advancement of renewable energy technologies, hydrogen, sustainability, and innovation.
It also outlines the establishment of effective mechanisms to monitor progress and ensure seamless coordination between the Ministry of Energy, NEOM, and other entities within the energy system. The collaborative effort is set to drive innovation and sustainability in Saudi Arabia’s energy landscape.
Source: NEOM
Sunpure Secured the Supply Contract of Intelligent PV Cleaning Robots for 805 MWp Ar Rass 1 PV Project in KSA
SUNPURE Technology Co. Ltd. has secured a contract with Larsen & Toubro (L&T) to supply over 1500 cutting-edge robotic PV cleaning systems for the 805 MWp Ar Rass 1 solar PV Independent Power Plant in Al Qassim, KSA. These systems are designed for arid climates, fully automated, and waterless, reducing O&M efforts and conserving water.
By integrating LoRaWAN technology, the PV cleaning system improves communication stability and integrates seamlessly with the single-axis tracking system, enhancing power generation and lowering the project’s LCOE. This collaboration aims to drive innovation and deliver intelligent PV cleaning solutions that amplify value for clients. The project is part of KSA’s National Renewable Energy Program and is set to enter commercial operation by 2024, powering approximately 132,000 households and offsetting 1.5 million tons of emissions annually.
Source: SUNPURE
Germany gives nod to 1.2-GW of offshore grid-connection projects
The German maritime authority BSH has approved two offshore grid connection projects in the North Sea and Baltic Sea, enabling the delivery of power from up to 1.2 GW of turbine capacity. These projects include 50Hertz’s 300MW Ostwind 3 and Amprion’s 900-MW DolWin4. The approval sets a new standard for connecting offshore wind turbines, utilizing a 66-kV direct connection without the need for additional substation platforms.
The projects involve the construction and operation of network connection systems and platforms in the German exclusive economic zones. The installations are expected to be operational by autumn 2026 and autumn 2028, respectively, and will transmit electricity from wind farms to the shore via submarine cable systems.
Source: BSH
RWE gives name to 1.6-GW California floating offshore wind project
German energy group RWE AG has named its floating wind project off the coast of California “Canopy Offshore Wind Farm,” aiming for operation by the mid-2030s. The project, awarded in a federal offshore lease auction, is set to be located 28 miles off the coast of Humboldt County and is expected to power over 600,000 homes.
RWE plans to establish a local office in downtown Eureka in early 2024 and has already recruited three employees to engage with Tribal Nations, the community, and stakeholders. The project’s name is inspired by the region’s redwoods and symbolizes a future of economic opportunities and clean energy.
Source: RWE
Iberdrola issues EUR-700m hybrid perpetual bond
Spanish utility company Iberdrola SA is issuing a EUR 700 million hybrid perpetual bond to refinance a previous issuance. The notes will pay a fixed annual coupon of 4.871% until the first reset date of April 16, 2031. The issuance was 4.8 times oversubscribed, attracting interest from over 200 international investors.
The proceeds will be used to repurchase the EUR 700 million issued in 2018. The placement banks for the issuance include JP Morgan, Barclays, Credit Agricole, BBVA, Natwest, Deutsche Bank, Caixabank, and Royal Bank of Canada. This fundraising activity follows Iberdrola’s recent EUR 300 million loan with the International Finance Corporation (IFC) and a EUR 5.3 billion refinancing operation with 33 banks.
Source: Iberdrola
HH2E agrees grid connection for German green hydrogen project
German gas network operator GASCADE Gastransport GmbH has signed a grid connection agreement for HH2E AG’s green hydrogen project in Lubmin. This will enable the blending of green hydrogen within the natural gas network. HH2E’s plant in Lubmin is set to start operations by the end of 2025 and will be connected to the European Gas Pipeline Link (EUGAL Lines 1 and 2).
The project aims to produce around 6,000 tonnes of green hydrogen annually in the first stage, expanding to over 1 GW of capacity by 2030. The pipeline project, “Flow – making hydrogen happen,” plans to repurpose a long-distance gas pipeline for hydrogen transportation and is part of Germany’s draft hydrogen core network.
Source: GASCADE
ACCIONA Energía completes its first wind-solar hybrid plant
ACCIONA Energía has completed its first hybrid renewable energy plant by adding a 29.4MW photovoltaic plant to the existing Escepar wind farm (36MW) in Villalba del Rey and Tinajas, Spain. The solar plant, consisting of 54,208 photovoltaic modules, will produce 48,170MWh of clean electricity annually, equivalent to the consumption of 13,800 homes.
Together with the wind farm, the hybrid plant will power over 30,000 homes and avoid the emission of more than 46,000 tons of CO2 per year. The project has also created up to 130 jobs during construction and includes a Social Impact Management program to reinvest in local communities. This hybridization optimizes grid use and reduces environmental impact.
Source: ACCIONA Energía
First Solar unveils 3.3GW PV manufacturing facility in Tamil Nadu
First Solar has inaugurated a new 3.3GW solar manufacturing facility in Tamil Nadu, India, with a $700m investment. The facility is the country’s first fully vertically integrated solar manufacturing plant and will produce Series 7 PV solar modules optimized for the Indian market.
The company aims to expand its manufacturing capacity to 25GW by 2026. The facility utilizes tellurium-based semiconductor technology, reducing reliance on Chinese crystalline silicon supply chains. It also features India’s first solar PV recycling plant and operates sustainably by using treated reverse osmosis water. First Solar’s investment in expanding its manufacturing capacity reflects its commitment to long-term and sustainable growth.
Source: First Solar
BlackRock strikes $12.5bn deal for Global Infrastructure Partners
BlackRock has agreed to acquire Global Infrastructure Partners (GIP) for $12.5bn, including $3bn in cash and 12 million shares of BlackRock common stock. The acquisition will create a comprehensive global infrastructure franchise with differentiated origination and asset management capabilities.
The combined business will deliver market-leading, holistic infrastructure expertise across equity, debt, and solutions at substantial scale. GIP, founded in 2006, manages over $100bn in client assets across infrastructure equity and debt, focusing on energy, transport, water and waste, and digital sectors. BlackRock believes the combination will deliver broader origination and business improvement capabilities to clients. The GIP management team, led by Bayo Ogunlesi and four founding partners, will lead the combined infrastructure platform.
BlackRock will also appoint GIP founding partner, chairman and chief executive, to its board at the next regularly scheduled board meeting following the transaction. The merger will create the infrastructure platform to deliver best-in-class investment opportunities for clients globally..
Source: BlackRock
