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Fortum’s Strategic Move: Unveiling the Sale Of Its Indian PV Portfolio Share

Fortum’s Solar Saga: The Next Chapter in India’s Clean Energy Journey

Fortum, a pioneer in renewable energy, is making waves in the Indian solar power scene with its latest agreement. The company is set to sell its remaining stake in its Indian solar power portfolio to Gentari Renewables India, a dynamic player in clean energy solutions.

This strategic move involves a 43.75% share in a portfolio that boasts four solar power plants across India, collectively generating 185MW of clean energy. From Amrit to Pavagada, these plants represent Fortum’s commitment to sustainable development in the region.

Joining forces with Gentari Renewables India, Fortum is unlocking new possibilities in the renewable energy sector. This transaction also includes the sale of shares by other owners, marking a significant shift in the solar power landscape.

As Fortum charts this new course, it anticipates recording profits from the divestment, signaling a fruitful venture for all stakeholders involved. The closing of this transformative deal is expected in the second quarter of 2024, heralding a new era in India’s renewable energy journey.

Since entering the Indian market in 2012, Fortum has been at the forefront of renewable energy development. With a focus on its Nordic strategy, Fortum is strategically navigating its operations in India, evaluating opportunities while ensuring a responsible transition.

Stay tuned as Fortum continues to shape the future of clean energy in India and beyond, leaving a lasting impact on sustainability and innovation. 🌞 #SolarPowerRevolution #RenewableEnergyLeaders #SustainableFuture

 

 

 

 

 

 

 

Credit: [Image: Fortum]

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ABO Wind Ignites Progress On Spanish Solar Oasis

ABO Wind’s Solar Marvel: Unveiling the Valdezorita Solar Farm in Spain’s Heartland

ABO Wind is blazing trails with its 50MW solar farm under construction in central Spain, set to connect to the grid at the site of a former nuclear power plant.

Dubbed the Valdezorita solar farm, this marks ABO Wind’s maiden turnkey project in Spain, situated in Yebra municipality, Castilla La-Mancha. Boasting 87,000 modules, this ground-mounted photovoltaic system promises an annual production of 100GWh.

Construction kicked off in January, progressing seamlessly as mounting systems and panels are set for installation this summer. Anticipate the grand debut of this eco-gem by early 2025.

Patricia Comes Salvador, ABO Energy España’s managing director, beams about the project’s swift four-year development, applauding the fruitful collaboration with locals and authorities. This endeavor not only fosters sustainable energy but also bolsters the region’s economy through substantial contracts with Spanish subcontractors.

The solar farm’s grid capacity factors in socio-economic and environmental merits, compensating for the closure of the former nuclear plant. Environmental initiatives, from eagle tracking to habitat enhancements for steppe birds, underscore ABO Wind’s commitment to eco-conscious operations.

This solar spectacle, employing tracker technology for optimal sun orientation, represents ABO Wind’s largest tracker-equipped project yet.

Financed with substantial investments and supported by long-term power purchase agreements, this venture symbolizes ABO Wind’s dedication to renewable energy’s growth.

Stay tuned for more updates on ABO Energy España’s renewable revolution as the company embarks on a transformative journey! 🌞 #SolarInnovation #RenewableEnergyLeadership #EcoRevolution

 

 

 

 

 

 

 

Credit: [Image: ABO Wind]

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AMEA Secures 120MW Solar Power Pact In South Africa

AMEA Power Lights Up South Africa with 120MW Solar Project Win

               In a significant stride towards green energy, AMEA Power has inked a transformative 20-year Power Purchase Agreement (PPA) for the 120MW Doornhoek Solar Photovoltaic Project in South Africa. This remarkable achievement stems from a dynamic consortium led by AMEA Power and local partners, securing the project under Bid Window 6 of South Africa’s renowned Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The PPA, sealed with South African utility giant Eskom, marks a pivotal moment in South Africa’s energy landscape. The project’s strategic location near Klerksdorp in the North West province underscores its regional impact and contribution to sustainable energy goals.

               With AMEA Power as the majority shareholder in this $120 million venture, the collaboration extends to Ziyanda Energy and Dzimuzwo Consulting, both wholly owned by African women, embodying a commitment to diversity and empowerment. Financial backing from Standard Bank South Africa and equity funding from the Industrial Development Corporation further solidify the project’s robust foundation. The ceremonial signing, graced by South Africa’s Minister of Mineral Resources and Energy Gwede Mantashe, Eskom’s Segomoco Scheppers, and AMEA Power’s chairman Hussain Al Nowais, symbolizes a collective commitment to green progress.

               AMEA Power’s regional presence, anchored by its Johannesburg office, underscores its dedication to driving positive environmental and socio-economic change across southern Africa. Hussain Al Nowais encapsulates the project’s significance, stating, “The Doornhoek Solar Project exemplifies AMEA Power’s unwavering commitment to sustainable energy solutions, environmental stewardship, and socio-economic empowerment.” As the project paves the way for a greener future, it heralds a new era of sustainable energy innovation and collaboration. Stay tuned as AMEA Power’s vision illuminates South Africa’s path to a brighter, cleaner tomorrow! ☀️🌍 #RenewableEnergy #SustainableFuture #GreenInnovation

 

 

 

 

 

 

 

Credit: [Image: AMEA]

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Azerbaijan’s Green Revolution: Igniting Renewables With A Bold Auction Launch

Azerbaijan’s Renewable Revolution Takes Flight with Historic Auction Launch

In a monumental move towards a greener future, the Ministry of Energy of Azerbaijan, in collaboration with the European Bank for Reconstruction and Development (EBRD), has unveiled the nation’s inaugural renewable energy auction.

This groundbreaking auction centers around a 100MW solar power plant project nestled in the picturesque landscapes of Gobustan. The call for applications, now open on the ministry’s website, beckons visionaries and innovators to step forward and seize this transformative opportunity.

From 30 April, interested parties can dive into the Request for Qualification Documentation, setting the stage for a wave of sustainable energy initiatives. The deadline for submitting Statements of Qualification is 14 June—a pivotal moment in Azerbaijan’s renewable energy journey.

As Azerbaijan gears up to host the United Nations COP 29 climate change conference in Baku later this year, the nation stands committed to ramping up its renewable energy capacity to at least 30% by 2030. This bold vision is fueled by private investment in utility-scale renewables, signaling a resolute shift towards a cleaner, more resilient energy landscape.

Backed by strategic reforms, forward-thinking strategies, and investor-friendly legislation, Azerbaijan is primed to unlock its green energy potential. The EBRD’s instrumental support in shaping the legal and regulatory framework, including contributions to a new Renewable Energy Law, underscores the collaborative spirit driving this transformative journey.

Aida Sitdikova, Head of Energy Eurasia for the Middle East and Africa at the EBRD, commends Azerbaijan’s strides towards sustainability, highlighting the pivotal role of all stakeholders in shaping a brighter, more sustainable future.

Join us as we embark on a journey of innovation, sustainability, and progress in Azerbaijan’s renewable energy evolution! ☀️🌍 #RenewableRevolution #SustainableFuture #GreenEnergy

 

 

 

 

 

 

 

Credit: [Image: EBRD]

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Lighting the Way: Eneco Breaks Ground On 51MW Dutch Solar Project

 Eneco and Goldbeck Solar Shine a Light on Sustainable Innovation in the Netherlands

In a groundbreaking partnership, Eneco has teamed up with Goldbeck Solar to unveil the ambitious Kabeljauwbeek solar project in Woensdrecht, Netherlands. This 51MW marvel, nestled within a wind farm layout, is poised to redefine green energy landscapes.

With 88,000 cutting-edge modules, the Kabeljauwbeek solar plant is not just about harnessing sunlight but also embracing smart design. By leveraging existing grid connections from the adjacent wind farm, this project minimizes grid overloads and maximizes efficiency.

Yet, challenges spurred innovation. The intricate web of supply lines within the construction site demanded meticulous planning. Enter 3D visualization—a tool that transformed hurdles into opportunities. The solar park’s flexible design allows seamless integration with wind turbine assembly, ensuring a harmonious coexistence of renewable energies.

But it’s not just about power—it’s about nurturing ecosystems. Native plants on the park’s periphery create havens for insects, benefiting birds and small mammals, and fostering biodiversity.

Thorsten Lerch, Goldbeck Solar’s visionary, underscores the project’s significance in the energy transition journey. With a track record of 40+ solar power plants in the Netherlands, Goldbeck Solar is not just a builder but a pioneer in sustainable energy expansion.

Together with Eneco Solar, Goldbeck Solar stands at the forefront of Europe’s energy revolution, driving towards a greener, brighter future. Stay tuned as the Kabeljauwbeek solar project sets new benchmarks in sustainability and innovation! ☀️🌿 #RenewableEnergy #SustainableInnovation #GreenRevolution

 

 

 

 

 

 

 

Credit: [Image: Goldbeck Solar]

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Iberdrola And Norges Bank Forge Ahead: Strengthening Their Spanish Partnership

Iberdrola and Norway’s Wealth Fund: Powering Up Spain’s Renewable Energy Future

Exciting news from the clean energy frontier as Iberdrola seals a deal with Norway’s sovereign wealth fund, adding a whopping 644MW of renewable energy to their Iberian alliance in Spain.

These new projects are all about solar power, with one plant already making waves in Extremadura at 328MW and another soon to rise in Castilla y Leon at 316MW.

Managed through Norges Bank Investment Management, this partnership boosts Iberdrola’s development pipeline to approximately 2500MW, with the company retaining a solid 51% majority stake in these assets.

What’s more, this expansion marks just the beginning. Back in January, both powerhouses hinted at doubling their collaboration, and now, with an additional 644MW in the mix, the sky’s the limit.

Both solar giants have secured Power Purchase Agreements (PPAs) for their production, ensuring a sustainable and reliable energy supply.

But the alliance doesn’t stop here. With talks of future expansions into other countries, this partnership is a beacon of global clean energy leadership.

Norges Bank Investment Management, with its massive €1.4tn in assets and stakes in over 9000 companies worldwide, brings unparalleled expertise and resources to the table. And as a longstanding investor in Iberdrola, their commitment to sustainability and growth is unwavering.

This alliance isn’t just about numbers—it’s about driving real change in the renewable energy landscape. Stay tuned as Iberdrola and Norway’s wealth fund illuminate a brighter, greener future for us all! 💡🌍 #RenewableEnergy #SustainableFuture #CleanEnergyPartnership

 

 

 

 

 

 

 

 

Credit: [Image: Iberdrola]

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Shining Bright: Sonnedix Breaks Ground On 120MW UK Solar Project

Sonnedix Illuminates the Future: Unveiling the Cowley Complex, UK’s Solar Power Marvel

Sonnedix has embarked on an ambitious journey with the construction of its 120MW solar project in the UK. Nestled in County Durham, the Cowley Complex shines as the crown jewel in Sonnedix’s 300MW UK portfolio, set to dazzle the skies by the second half of 2025.

Comprising three interconnected sites of 60MW, 43MW, and 17MW, the Cowley Complex is not just a testament to sustainable energy but also a beacon of economic prosperity. Thanks to the diligent efforts of EPC contractor Ameresco Sunel Energy, over 100 green jobs are flourishing in the local community.

This groundbreaking project is fueled by Sonnedix’s €500m loan facility, strategically tailored to empower its development pipeline across Europe and the UK. The multicurrency loan unlocks flexibility and efficiency, paving the way for a greener tomorrow.

Aligned with the UK Government’s Contracts for Difference (CfD) scheme, Sonnedix’s entire UK portfolio enjoys long-term stability and revenue security. As the Cowley Complex nears completion, the CfD scheme’s benefits will soon come to fruition in 2026.

Axel Thiemann, Sonnedix’s visionary CEO, envisions a clean, secure, and sustainable energy landscape for the UK, driving towards ambitious decarbonization goals.

Jorge Amiano Goyarrola, the mastermind behind Sonnedix’s engineering and construction endeavors, shares the excitement of breaking ground at the Cowley site. Beyond generating green energy, this project ignites hope, prosperity, and a brighter future for the UK. Stay tuned as Sonnedix leads the charge towards a greener, more sustainable tomorrow! 💚🌞 #SolarPower #SustainableFuture #CleanEnergyRevolution”

 

 

 

 

 

 

 

Credit: [Image: Sonnedix]

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Powering Up: Enfinity Scores Big With $195m For Japan PV Array Project

Empowering Japan’s Green Revolution: Enfinity Global’s $195m Boost for Aomori Solar Plant 

Enfinity Global has just secured a whopping $195m (¥29bn) in long-term financing for its operational 70MW Aomori solar power plant in Japan. This massive investment, with Nomura Securities International and Aozora Bank leading the charge, marks a significant step towards Japan’s ambitious carbon-neutral goals by 2050.

Situated in the scenic Aomori Prefecture in northern Japan, this state-of-the-art solar plant is poised to generate over 75GWh of clean energy annually. That’s enough to power 11% of Aomori City’s residential energy needs or approximately 15,600 households, while also slashing 35,000 tons of CO2 emissions each year.

Carlos Domenech, Enfinity Global’s CEO, expressed the company’s dedication to Japan’s carbon-neutral vision, emphasizing their role as a long-term investor committed to sustainable progress.

Nomura’s Vinod Mukani echoed this sentiment, highlighting the tailored financing solution designed to support Enfinity Global’s impactful contribution to Japan’s clean energy transition.

And let’s not forget Aozora Bank’s commitment to financing renewable energy projects, underscoring the collective effort towards a carbon-free economy.

This milestone not only showcases Enfinity Global’s commitment to clean energy but also reflects a broader industry shift towards sustainable practices. Stay tuned as we witness Japan’s journey towards a greener, more sustainable future! 🌿💡 #CleanEnergy #Sustainability #GreenRevolution”

 

 

 

 

 

 

 

Credit: [Image: Enfinity Global]

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Sonnedix Shines Bright: Refinancing Its Radiant Japanese PV Portfolio

Empowering Japan’s Solar Future: Sonnedix’s Game-Changing Refinancing Move

Sonnedix Japan has just executed a strategic refinancing maneuver that’s set to reshape the solar landscape in Japan.

In a groundbreaking move, Sonnedix has successfully secured financing for eight high-voltage solar projects, boasting a collective capacity of 18MW. This significant development marks Sonnedix’s inaugural portfolio financing in Japan, promising enhanced efficiency and operational excellence for its solar PV assets across the country.

The financing, valued at JPY5,295m (€33m), is the result of collaborative efforts with leading lenders MUFG Bank and The Iyo Bank. This infusion of capital not only bolsters Sonnedix’s financial stability but also underscores its commitment to sustainable energy solutions.

With a robust portfolio comprising 25 PV projects and a controlled capacity of approximately 495MW, Sonnedix is a key player in Japan’s renewable energy sector. Axel Thiemann, Sonnedix’s CEO, expressed his excitement, stating, “This refinancing reflects our unwavering dedication to optimizing operations and advancing clean energy initiatives. We’re proud to contribute to Japan’s decarbonization goals and look forward to continued success in the renewable energy landscape.  #SolarInvestment #SolarPower #RenewableEnergy #Sustainability #PortfolioRefinancing #CleanEnergy #JapanRenewables #SolarPV #Decarbonization RenewableEnergy #GreenFinance

 

 

 

 

 

 

Credits: [Image: Sonnedix Japan]

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Power Surge: Low Carbon Ventures Into Germany’s Thriving Solar Market

Powering Up: Low Carbon Energizes Germany’s Renewables Market with 400MW Solar Surge

Low Carbon, a leading developer based in the UK, is making waves in Germany’s renewable energy landscape with ambitious plans for a robust solar pipeline exceeding 400MW. This expansion marks a significant move towards accelerating the country’s transition to clean energy.

The first project in this stellar lineup is the Weißholz (Whitewood) solar farm, strategically located in Brandenburg’s Wusterhausen region. With an impressive peak capacity of 63MW, this project is set to break ground in 2025, following recent approval from local authorities. The project’s development journey is a testament to Low Carbon’s commitment to navigating environmental considerations and zoning regulations seamlessly.

Beyond solar, Low Carbon is exploring avenues in wind and storage projects, diversifying its portfolio and contributing to Germany’s renewable energy ambitions. Headed by Murad Can, the company’s German operations are poised to play a pivotal role in driving Europe towards climate neutrality.

Ian Larive, Managing Director of Investments at Low Carbon, expressed enthusiasm about the venture, stating, “Our growth plans in the German renewables market are a crucial step in advancing the energy transition. With a proven track record in utility-scale renewables, we are poised to be a catalyst for Europe’s climate goals.”

Echoing this sentiment, Murad Can emphasized the vast potential in Germany’s renewables market and the company’s progress with the flagship Weißholz (Whitewood) project. “We’re thrilled about the momentum and look forward to expanding our pipeline to meet the nation’s ambitious solar and wind targets by the 2030s,” Can added.

With Low Carbon’s strategic vision and commitment to sustainable energy solutions, the future of Germany’s renewables sector looks brighter than ever. Stay tuned for more groundbreaking developments as we drive towards a greener tomorrow! #RenewableEnergy #SolarSurge #ClimateAction

 

 

 

 

 

 

 

Credit: [Image: Unsplash/Sungrow]