Energy Transition Update

A healthy level of construction and investment is taking place inside the UK, European and Asia Pacific clean energy markets. 

Current American domestic policy continues to favour traditional fuel sources and is attempting to reduce the impact of former President Biden’s endorsement of green power. TWinFM Guest Editor, Daniel Lynn, has collected a variety of examples that provide an accurate appraisal of the approach favoured by separate states and trading blocs when introducing green energy into global circulation.    

UK & Ireland 

UK offshore wind company, Corio Generation and French multinational energy group Total Energies, have been granted planning consent for the 1.5GW Outer Dowsing wind farm off the coast of east England. Once energised and functional 1.6 million English households will be able to access clean power. 

German renewable company Ib Vogt has sold 3 solar installations in Ireland totalling around €230 million. The combined capacity of all 3 sites can power over 65,000 homes.  

UK renewable investment company Egg Power has gained £400 million in financing to develop a number of solar and wind projects across the UK and Europe.  

Europe 

Polish solar developers, RPower Renewables - has absorbed €250 million of financing as to expand operations across Europe. RPower will use the capital to construct and install battery energy storage systems that complement existing solar facilities. RPower will specifically target the markets of: Poland, Romania, Germany, Italy, Portugal and Spain. 

Belgum based renewable organisation, TTR Energy – will receive €240 million of financing for the HSR wind farm located in the Ardennes region of northeastern France. The 150MW site is expected to be operational during 2027. 

Danish state-owned entity, The Investment Fund of Denmark – has signed an €850 million financial corporate facility with French multinational electricity company Engie. This deal will advance Engie’s expansion of wind projects across Europe.

Asia Pacific

South Korean energy providers, Korea Midland Power has invested €890 million (£775 million) to acquire a stake in the Sinan Ui offshore wind project. The 390MW facility will be constructed in the waters off Sinan County in South Jeolla Province. Construction will start in April, once finished 290,000 households will be able to access clean electricity.   

American investment firm KKR will invest over $600 million in Australian asset manager, HMC Capitol’s energy transition platform. Financing will be directed towards the development of new battery storage and wind projects. 

Scottish based wind company, Ocean Winds – has been provided with a feasibility license for the 1.2GW Westward Wind offshore project located in Bunbury, Western Australia.    

USA

American Green fuels company, Apex Clean Energy has successfully financed the construction of 3 large renewable facilities in Texas, Ohio and Illinois. 2 wind installations and 1 battery storage site are now commercially active and represent a total investment of $2.79 billion.  

An appeal will be launched by the Trump administration against the previously imposed court order to resume work on 5 large offshore wind sites. Domestic security is cited as a main concern. 

Spanish multinational energy organisation Iberdrola has begun commercial operations at 2 solar installations in Oregan, USA.