Energy Transition Update

Supply, distribution and usage of clean energies is an issue that features prominently in global political agendas. As fossil fuels are phased out, clean renewable replacements must be located and introduced into international domestic energy mixes.

ThisWeekinFM Guest Editor, Daniel Lynn, has collected news items that are representative of an active global green energy transition.  

UK & Ireland: Construction & Investment

UK battery and storage operator Varco has acquired a BESS (battery energy storage system) from UK energy development company Carlton Power. The 48MW Sambar project is located in Cornwall, south-west England and aim to commence operations in 2025. 

Danish renewable energy investment organization Copenhagen Infrastructure Partners has agreed to invest £250 million in UK based Irish solar power company Elgin Energy in return for a majority share.  

The Scottish government has consented to the construction and development of a 96MW wind farm consisting of 16 turbines. Chleansaid Wind Farm will create clean power for 54,000 homes. UK based Irish wind company ESB Group will develop the project which aims to be operational by 2027.  

European Investment & Construction

German energy company RWE have begun their first ever green bond that totals $2 billion. RWE aim to expand into solar, battery & storage, offshore and onshore wind projects inside the US market. RWE are willing to invest €20bn by the end of this decade to realize these ambitions. 

Spanish multi-national renewable energy company Iberdrola has announced they will invest over €15bn into renewables as part of a wider €41billion package of fiscal investment into the development of electrification by 2026.  

Italian energy company Plenitude are constructing the 330MW Renopool solar facility in Badajoz, southwest Spain. Completion of construction is aimed for 2025.

Asia-Pacific 

Japan has decided to work alongside the US in attempting to reduce costs relating to floating offshore wind projects. The US and Japan will develop cost effective technologies that assist in decarbonising coastal communities.   

Australian energy company APA Group has begun operations on their 88MW Dugald River Solar Farm. This solar facility represents a part of the $1 billion of investments APA Group has made into energy assets across Queensland, Australia.  

Construction has begun on the 480MW Aldoga solar farm in Queensland, Australia. Acciona Energia has invested $500 million and plan to complete construction by mid-2026. 

North America

Spanish multinational energy company Repsol has completed construction of the 637MW Frye Solar installation, located in Texas. Repsol will invest between €3bn-€4bn in developing a global portfolio of renewable energy projects and aims to reach between 9000MW - 10,000MW of installed capacity by 2027. 

The California Independent System Operator has recommended 26 new grid projects totalling a cost of $6.1 billion. All new projects will focus on transporting clean energy from renewable installations across the Californian area in to homes and businesses.  

International renewable energy investment firm Quinbrook Infrastructure Partners has closed their Valley of Fire fund with $600 million in financial commitments from US and European investors. Finances will be used to develop several projects throughout the US.