Energy Transition Update

Renewable and other alternative clean forms of energy are slowly replacing fossil-based fuels with the ultimate aim of reducing carbon emissions. Our regular Guest Editor, Daniel Lynn, has collected a selection of relevant news examples that demonstrate a global shift in attitude towards green energy distribution and usage. 

UK & Ireland

UK solar developer Renewable Connections has been given approval to construct the 90MW Summerway Drove battery energy storage system in Somerset.

UK-based renewable investment company Schroders Greencoat and The Ireland Strategic Investment Fund (ISIF) have together launched a new energy transition fund for €220 million. Investments will target the European market. 

UK renewable developer Aura Power has secured £33 million of finance to construct the 40MW Burtree Lane solar project in Darlington, UK.

Europe

Spanish renewable fund manager Qualitas Energy has received €200 million from investors. All raised capital will concentrate on opportunities within the European market that include various renewable energies, such as wind, solar, hydro and renewable natural gasses.

French hydrogen company Lhyfe has attracted €11 million of finance to construct a hydrogen production facility in southern Sweden. Funding was provided by the EU and Klimatklivet – an investment programme supported by the Swedish Environmental Protection Agency. Lhyfe already sells end-product green hydrogen to commercial customers inside Sweden.

Australian international investment organization - Macquarie Asset Management, has provided €97 million of debt financing to Spanish renewable energy company Greenalia Power. Finance will be used to support Greenalia’s clean energy projects in Spain.

Asia-Pacific

Danish renewable energy investment company – Copenhagen Investment Partners, have started to construct the 240MW Summerfield battery and energy storage facility. The project is located in South Australia’s Murrayfields region.

Irish renewable developer DP Energy has been given consent by the Australian government to construct the 430MW Callide Wind Farm, located in Queensland. 130,000 local domiciles will gain access to clean power once the facility becomes operational.

Japan aims to increase the number of domestic offshore wind farms in an effort to support the local supply chain and attract foreign investment.

USA

American renewable power company Greenbacker Renewable Energy Company have had their 500MW Cider Solar Farm approved for construction. Greenbacker acquired the facility from Hecate Energy for $950 million in 2024. 

American power company Invenergy has secured a $1.1 billion debt financing facility. The funds will be used for 3 solar sites in Ohio, Indiana and Tennessee. 

EDF Renewables North America - subsidiary of French state-owned power company EDF - and North American asset managers, Power Sustainable Energy Infrastructure - have begun commercial operations at the 300MW Desert Quartzite solar and storage project in California.