A consortium led by ACWA Power has achieved financial closure for its 500MW solar PV Independent Power Project (IPP), the largest utility scale solar plant in the sultanate of Oman. The Saudi Arabian power company and its partners GIC and APEC secured funding on a debt...
BP’s 50%-owned solar energy firm Lightsource BP yesterday closed a US$250 million financing package for a US-based project, while fellow oil major Total followed suit in confirming a deal to acquire a French wind power company. Despite fears surrounding the potential impact of the COVID-19 outbreak,...
Amazon has bolstered its renewable energy portfolio with 300MW of new projects in Europe, the US and Australia, as the tech giant looks to reach 80% renewable energy by 2024 and 100% by 2030. In Australia Amazon will source 60MW of solar capacity from a project...
Anglo American has signed a 15-year contract worth US$190 million with Atlas Renewable Energy that will see the latter supply solar energy to the former’s iron ore mining operations in Brazil. The Latin American renewable energy company will supply electricity to the mining giant’s operations through...
Royal Dutch Shell has announced it will work with Dutch gas infrastructure group Gasunie to deliver Europe’s biggest green hydrogen project in the Netherlands, powered by up to 10GW of offshore wind in the North Sea. The partners signed off on the NortH2 project in conjunction...
Copenhagen Infrastructure Partners (CIP) is set to commence construction of its 589MW Changfang and Xidao wind complex off the coast of Taiwan after reaching financial close on the project. The Danish fund management company said on Friday it had agreed close to US$3 billion of equity...
Rio Tinto has approved a US$98 million investment to build a solar plant and lithium-ion battery storage system which will power its Koodaideri iron ore mine in the Pilbara region of Western Australia. The 34MW facility will be comprised of an estimated 100,000 panels and is...
A new report by BloombergNEF (BNEF) has found that US$2.8 billion was spent on renewables projects in sub-Saharan Africa (excluding South Africa) in 2018, setting a record at some $600 million more than the previous year. BNEF’s Sub-Saharan Africa Market Outlook highlighted how investors are looking...
The share of renewables in the total energy mix of the European Union (EU) grew by just 0.5% in 2018, prompting lobbying group WindEurope to give a ‘stark warning’ on the prospect of the bloc missing its renewable energy targets. latest figures published by Eurostat showed...
Global investment in renewable energy capacity creeped up by 1% in 2019, boosted by a string of offshore wind deals in the second half of the year. BloombergNEF estimated that US$282 billion was invested in renewables projects last year, compared with $280.2 billion in 2018. A spate...