Clean Energy Pipeline’s Post

Indian clean energy company ReNew announced today that it has completed the construction of 1.9 GW of renewable energy assets in FY24. ReNew’s cumulative capacity now exceeds over 10 GW as a result of the company’s latest spate of renewable energy projects, with additions that included 1.174 MW of solar and 768 MW of wind over the year. “I am incredibly proud of the work we have done to reach this milestone,” stated Sumant Sinha, Founder, Chairperson and Chief Executive Officer of ReNew. ReNew continues to be at the heart of India’s transformation as a clean energy leader and our ambitions now are even bigger. We will double the amount of clean energy we generate over the next few years, while continuing our work to be completely carbon neutral as a company by 2040. “Prime Minister Narendra Modi has laid out a bold vision of trebling India’s renewable energy capacity by the end of the decade, and we are committed to ensuring that India becomes a global leader in clean energy.” ReNew said it contributed approximately 10% of India’s total solar and wind energy generation in FY24, while the company also boasts India’s largest wind portfolio at 4.7 GW. ReNew aims to double its renewable energy asset portfolio to 20 GW by 2027/28. “ReNew’s expansion plans are driven by its strong fundamentals,” the company added in a statement. “As on December 31, 2023, the Company has a balance sheet size of around US$ 10.6 billion (~INR 88,600 crore), with strong visibility of funding for current and future projects.” #cleanenergy

BP is taking a bold step into the future of renewable energy by preparing to sell its US wind farm portfolio. With 10 operational wind farms generating 1,284 MW of net capacity, this transaction—codenamed Project Capacitor—presents a powerful investment opportunity in the renewable energy sector. The portfolio features key assets in Indiana, Kansas, South Dakota, Colorado, and more, with ownership stakes ranging from 50% to full control. These assets were commissioned between 2009 and 2012, positioning them for potential upgrades and long-term value enhancement. Why now? BP is integrating future renewable projects through Lightsource BP, marking this as a pivotal move in reshaping its onshore renewable strategy. Key dates: - Sale launch and non-binding offers: Q4 2024 - Transaction signing: Q2 2025 For industry leaders, this is more than a sale; it’s a foothold in the next phase of energy transition. #RenewableEnergy #WindPower #Sustainability

Public Power Corporation (PPC S.A.) has finalised an agreement to acquire a 629 MW portfolio of renewable energy assets in Romania from EVRYO Group. PPC’s deal with Evryo Group, which is owned by funds managed by Macquarie Asset Management, comprises 629 MW of clean energy projects in operation and 145 MW of projects in the pipeline. The operational assets involve 600 MW of onshore wind, 22 MW of hydro, 1 MW of solar, and 6 MW of battery energy storage assets. The total enterprise value of the deal totals approximately €700 million. “This acquisition represents a significant new step for PPC Group’s overall growth strategy in Southeast Europe,” said Georgios Stassis, Chairman and Chief Executive Officer of PPC Group. “We accelerate the build out of renewables’ generation in Romania by doubling our portfolio of RES in operation, and most significantly with wind and hydro, further diversifying our RES mix, with assets located in the most sought-after regions in Romania, with high wind speeds.” PPC Group is being advised by Citigroup Global Markets Europe AG and Euroxx Securities SA (financial), and Clifford Chance (legal) on the deal. The acquisition is expected to close in Q4 2024, subject to the necessary approvals. As a result of the deal, PPC’s portfolio of operational renewable energy assets in Romania will double and its total clean energy assets online will reach 3.5 GW. “Our regional strategy in renewables targets to power generation across attractive markets, with a diversified technology portfolio,” added Stassis. “Southeast Europe is an increasingly interconnected market, with converging power prices and, thus, value can be created from adjacent synergies in trading, supply and risk diversification.” #cleanenergy

📢 LATEST NEWS: We are pleased to announce the taskforce working to develop seabed mobility guidance for the offshore renewable sector has doubled its industry-leading partners. Seabed mobility poses potential risks to renewable installations, including offshore wind, wave, and tidal energy projects. This 18-month critical Joint Industry Project (JIP) will leverage the combined expertise to address challenges around seabed mobility and provide guidelines for planning offshore wind and marine energy developments worldwide. The partners in the project now include: National Grid | Ørsted | Vattenfall | bp | RWE | ScottishPower Renewables | ESB | SSE Renewables | Cooper Marine Advisors Ltd | Partrac 👉 Read more in the press release here: https://hubs.la/Q02mZqjP0 #seabedmobility #offshorewind #offshorewindnews

Equinor has become the second largest shareholder in Ørsted after acquiring a 9.8% stake in the global renewable energy company. Equinor purchased 41,197,344 shares in Ørsted, with the current market value of the holding at approximately $2.5 billion, based on a share price of DKK 418 and a USD/DKK exchange rate of 6.8 as of 4 October 2024. As a result, Equinor is the second largest shareholder in Ørsted after the Danish State, which holds a controlling interest in the company. Anders Opedal, CEO of Equinor, commented: “Equinor has a long-term perspective and will be a supportive owner in Ørsted. “This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets. The exposure to producing assets complements Equinor’s operated offshore wind portfolio of large projects under development.” Ørsted currently has a net renewable generation capacity of approximately 10.4 GW and a gross offshore wind project portfolio in execution of around 7 GW. Ørsted aims to reach a gross installed renewable capacity of 35 to 38 GW by 2030. “This investment is in line with Equinor’s strategy of value-driven growth in renewables,” added Opedal. “The offshore wind industry is currently facing a set of challenges, but we remain confident in the long-term outlook for the sector, and the crucial role offshore wind will play in the energy transition.” Equinor intends to increase its ownership to 10%, subject to regulatory approvals under Foreign Direct Investment regulations, but has no plans for further increases at this stage. #cleanenergy

Suzlon Energy to Acquire 76% Stake in Renom Energy for ₹660 Crore Exciting News in the Renewable Energy Sector! Suzlon Energy has announced its plan to acquire a 76% stake in Renom Energy for ₹660 crore. This strategic move aims to strengthen Suzlon's position in the renewable energy market and enhance its operational capabilities. What This Means: Increased Capacity: The acquisition will significantly boost Suzlon's renewable energy portfolio. Operational Synergies: Combining the strengths of both companies will lead to improved efficiency and innovation. Market Impact: This acquisition positions Suzlon as a more formidable player in the industry, driving growth and sustainability. We are committed to advancing clean energy solutions and believe this acquisition is a substantial step towards a greener future. https://lnkd.in/eap5sYnu #RenewableEnergy #SuzlonEnergy #RenomEnergy #GreenEnergy #Sustainability #CleanEnergy #EnergyNews #CorporateAcquisition #IndustryUpdate Join us in celebrating this milestone! Share your thoughts on this acquisition in the comments below. For more details, visit our website or reach out to our corporate communications team.

Polish energy supplier Grupa TAURON has acquired the project rights for the 190.8 MW Miejska Górka wind farm in Poland from VSB Group. The Miejska Górka wind farm will feature up to 53 wind turbines in the Greater Poland Voivodeship, which will be supplied and installed by Nordex Group. The Miejska Górka wind farm is expected to be operational by early 2027. “Wind power plants are an important part of the decarbonisation of TAURON Group’s power generation mix,” said Michał Orłowski, CFA, Vice-President of TAURON Polska Energia for Asset Management and Development. “We have successfully completed the acquisition process of a wind farm with a capacity of up to 190.8 MW in Miejska Górka,” added Artur Kalicki MBA, President of the Management Board of TAURON Zielona Energia. “This will be one of the largest wind farm projects in Poland. On the scale of our operations, it is a strategic and key project that will significantly increase the share of green energy from RES in the entire TAURON Group. This is the result of an enormous amount of work and energy from all the people involved in the project, especially those leading it.” TAURON has further tasked VSB to manage the construction and planning work required in order to commission the Miejska Górka wind farm. “We are grateful to TAURON for their trust and close cooperation and look forward to bringing the wind farm online together,” noted Dr Felix Grolman, CEO of VSB Group. “Miejska Górka will be one of the largest onshore wind projects in Poland. It sets a benchmark and sends out a strong signal for the accelerated expansion of renewable energy in the country and across Europe.” “The transition from fossil fuels to renewable energy is well underway in Poland,” stated Hubert B. Kowalski, Managing Director of VSB Poland. “Projects like the Miejska Górka wind park demonstrate what is possible and how, through strategic partnerships, we can achieve success on multiple fronts – increasing the share of wind and solar in the energy mix, expanding the availability of green electricity for citizens, and protecting the climate.” Christian Schnell, PhD, Partner and Head of Energy in Poland and Co-Head in Europe at Dentons, led the Warsaw team in advising VSB on the transaction. The team included partner Marceli Kasperkiewicz, senior associate Beata Błaż, and associates Aleksandra Redzisz and Weronika Urbszys from the Corporate and M&A team. Counsel Joanna Świostek, senior associates Hanna Szymanska and Grzegorz Cieśniarski, and associate Bartosz Tokarczyk from the Energy practice group were also involved. Partner Cezary Przygodzki and counsel Marcin Czajkowski provided tax advice related to the transaction. Clyde & Co advised Tauran on the deal, led by Agnieszka Kulinska and Ernest Dymel, and assisted by Lena Boczkaja, Mikołaj Kępas, Maciej Dymnicki, Jacek Korcz, Julia Kryńska, Witold Szpek and Anna Narodzonek. #cleanenergy

KKR Provides $300 Million Financing to Origis Energy for Solar and Storage Projects Leading global investment firm KKR and renewable energy solution platform Origis Energy have announced a corporate financing facility of $300 million. The funding, provided by vehicles and accounts managed by KKR’s insurance business, will bolster the development and construction of Origis’ pipeline of solar and storage projects. Origis Energy has recently gained recognition, ranking third on S&P Global Commodity Insights’ list of the ten largest owners of planned solar installations through 2028. With a track record of over 250 solar and storage projects developed since inception, Origis boasts a current operating, contracted, and mature development project portfolio of over 12 […] Read the full story here: https://lnkd.in/d9Pi_6xV #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #america #kkr #northamerica #origisenergy #renewableenergy #solarenergy

RWE has taken an investment decision to build a new battery energy storage system in New South Wales, Australia. “RWE’s investment decision and signing of supplier contracts for the Limondale BESS project is an exciting step forward in our commitment to the Australian renewables sector and support of New South Wales’ renewable energy ambitions,” commented Katja Wünschel, CEO RWE Renewables Europe & Australia. “As a battery storage pioneer, RWE develops, builds and operates innovative and competitive battery storage systems in Europe and the US, and soon here in Australia. We look forward to continuing to work with all stakeholders to help realise the country’s renewable energy goals.” RWE’s said its eight-hour lithium-ion BESS project was the only successful project in NSW’s first Long Duration Storage Long-Term Energy Service Agreements tender process. The Limondale BESS project will have a planned capacity of 50 MW / 400 MWh and will be located next to RWE’s 249 MWac Limondale Solar Farm. Tesla has been selected as the BESS supplier with its Megapack batteries, while Beon Energy Solutions was chosen as the delivery partner for the Balance of Plant works. Construction is slated to begin in H2 2024, with commissioning planned for late 2025. RWE also took an investment decision for the 1.6 GW Nordseecluster offshore wind projects in the North Sea. Sven Utermöhlen, CEO RWE Offshore Wind, said: “Our portfolio already includes six offshore wind farms off Germany’s coastlines. The Nordseecluster will add two more. This sends out a good signal for the energy transition in Germany and for RWE. With a total capacity of 1.6 gigawatts, these wind farms will generate around 6.5 terawatt hours of green electricity per year. This will contribute in particular to the decarbonisation of industry in our home market.” Nordseecluster A will have a capacity of 600 MW and Nordseecluster B will have a capacity of 900 MW. Nordseecluster will enter into construction in 2025 and will come online between 2027 and 2029. RWE said it will use the green electricity generated from the wind farms to support its industrial customers on the path to decarbonisation with customised energy solutions, including operators of AI data centres. #cleanenergy

Global alternative asset manager Intermediate Capital Group (ICG) has acquired a 50% stake in Revent Energy Co. Ltd. from ST International Corporation, a South Korean energy company. As equal partners in Revent Energy, ICG and STI aim to bolster the company’s growth plans, which will focus on acquiring, developing, constructing, owning and operating onshore wind projects across South Korea. Revent Energy has a target to secure 500 MW of installed wind capacity within the next five years. “We are delighted to be partnering with STI to support Revent Energy’s growth plans,” said Devarshi Das, Head of ICG Asia-Pacific Infrastructure. “With increasing demand for renewables in South Korea, this is an exciting time to enter the market and this partnership constitutes the perfect opportunity to do so. We look forward to working closely with both STI and the Company’s management team as we embark on this next phase of growth.” Gil-Yong Ha, CEO & Representative Director of STI, noted: “We have great trust in this partnership with ICG, a company that shares our strong belief in Revent Energy and its promising growth trajectory. “With Revent Energy’s established repowering projects and a robust growth pipeline, the Company is strategically placed to seize the increasing demand for renewable energy in the South Korean market. We eagerly look forward to collaborating to achieve our shared goals.” Revent Energy currently holds interest in two large operating wind farms, Yeongyang Wind Power Cooperation and Youngduk Wind Power Co. Ltd., both of which are set for repowering to significantly increase the installed capacity. ICG’s entry into the South Korea’s clean energy market is further buoyed by a government target to deploy 72.7 GW of renewables by 2030. Shin & Kim and Ashurst served as legal counsels to ICG. #cleanenergy