Iberdrola and the Japanese electricity company Kansai announced the extension of their strategic alliance to accelerate electrification globally. This collaboration will focus on various electricity grid and renewable energy projects in different countries.Both companies see this new agreement as a strategic milestone that will allow them to jointly explore other investment opportunities in different technologies and regions within the renewable energy and electricity grid industry.The agreement strengthens the relations of both companies, following the co-investment in the Windanker offshore wind farm at the end of December 2024. The Windanker offshore wind farm, located in the German Baltic, will have an…
Author: Chitrika Grover
Cleantech Solar, a renewable energy solutions provider to corporations in India and Southeast Asia, has commissioned 10 MWp of floating solar PV systems for Cargill in Thailand. These PV systems are part of nearly 30 solar PV projects under various stages of operations, construction, and development. This project is for the food processing giant in Thailand, and numerous other projects in Southeast Asia and India. The floating solar PV projects add to Cleantech Solar’s existing rooftop solar projects and are located at Cargill’s fully integrated poultry processing units in Korat and Saraburi.Floating Renewable Energy SystemsThe floating renewable energy systems are…
The pipeline of prospective utility-scale solar and wind capacity grew by a fifth last year, but the world’s richest countries account for only a fraction of new construction, according to a new report from Global Energy Monitor (GEM).The Global Solar Power Tracker and Global Wind Power Tracker include all projects that have been announced, entered pre-construction, or are currently under construction for solar capacity over 1 megawatt (MW) and utility-scale wind capacity over 10 MW.During 2024, prospective utility-scale solar and wind capacity grew to 4.4 TW. Utility-scale solar and wind are largely equal in their prospective development, with 2 TW…
JinkoSolar Holding Co., Ltd. a solar module manufacturer achieved a significant breakthrough in the development of its N-type TOPCon-based perovskite tandem solar cell. Independently tested by the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, the cell achieved an impressive conversion efficiency of 33.84%, surpassing JinkoSolar’s previous record of 33.24%. This achievement marks the 27th time JinkoSolar has set a world record for efficiency and power output for PV products.The record-breaking perovskite tandem solar cell utilizes JinkoSolar’s N-type high-efficiency monocrystalline TOPCon solar cell as the bottom cell, enhanced by significant advancements across multiple key technologies. Innovations such…
The Asian Development Bank (ADB) has approved a $200 million loan to upgrade Sri Lanka’s power sector infrastructure, enhancing the reliability of transmission and distribution networks and facilitating greater integration of renewable energy.“Driving power sector reforms, combined with targeted infrastructure interventions, is essential to facilitate competitive renewable energy development and reduce power generation costs,” said ADB Country Director for Sri Lanka Takafumi Kadono. “By expanding and modernizing infrastructure and incorporating digitalization solutions, this project will support the government’s goal of increased integration of renewable energy in the electricity mix, reduce power interruptions, and minimize transmission and distribution losses.Sri Lanka achieved…
BlackRock, MAS, IFC, AIA, MUFG, and NEXI have signed an SOI at the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change to explore ways to work together on a blended finance debt initiative for global investors seeking opportunities to finance corporates’ decarbonisation projects at scale in Asia with a focus on Southeast Asia. The Industrial Transformation infrastructure debt programme is one of the programmes under MAS’ Financing Asia’s Transition Partnership (FAST-P), a blended finance initiative announced by the Singapore Government at COP28 that aims to mobilise up to US$5 billion from public, private,…
Ampd Energy, a global energy industry innovator and manufacturer of the Enertainer and Ampd Silo battery energy storage systems (ESS) for heavy industries, raised $27.3 million in an oversubscribed Series B funding. The round was co-led by Kibo Invest and Openspace, the largest investor in this round, with notable participation from existing investors MTR Lab, Taronga Ventures and 2150, confirming their support and belief in Ampd Energy by participating above pro-rata. The funds will be used to further expand decarbonization across new verticals and regions. According to the IEA, the combined building and construction sector is responsible for 30% of total global…
The Asian Development Bank (ADB) recently issued its first biodiversity and nature theme bond to finance a pool of eligible projects across Asia and the Pacific. The A$150 million (equivalent to US$100 million), 10-year issue was purchased by the Dai-ichi Life Insurance Company, Limited of Japan and arranged by Credit Agricole CIB. The bond was issued under ADB’s Theme Bonds for Sustainable Development program, in coordination with its Environment group.“Investing in nature is emerging as one of the most impactful ways to combat climate change, biodiversity loss, and pollution. Through ADB’s first biodiversity and nature bond, we are pleased to…
Bangladesh is introducing a 10-year tax exemption package for renewable energy production — a move expected to help boost clean electricity generation, which is still hampered by high production costs. The National Board of Revenue issued a notification earlier this week for projects that will begin commercial operations by mid-2030. The policy grants 100 percent tax exemption for renewable energy plants in the first five years, 50 percent in the next three years, and 25 percent in the following two years. “Companies whose commercial production will start between July 1, 2025 and June 30, 2030, are exempted from the tax,”…
Pradip Kumar Das, Chairman & Managing Director, Indian Renewable Energy Development Agency Limited (IREDA), represented India in a critical discussion on “Access to Financing for Renewable Energy Projects,” at the Bhutan-India Renewable Energy Roundtable held today in Thimphu. The event, organized by the Government of India in collaboration with the Government of Bhutan, provided a platform for fostering renewable energy cooperation between the two nations. Shri Das assured that IREDA stands ready to extend support to Bhutan’s renewable energy initiatives within the regulatory framework of the Reserve Bank of India (RBI) and the Ministry of New and Renewable Energy (MNRE),…