Energy Transition Update

A global effort to decarbonise all energy supplies is well underway. Notable economies and big business are collaborating across all continents to deliver carbon reducing energies and technologies.

ThisWeekinFM, Guest Editor, Daniel Lynn, has gathered a selection of news items that portray the direction of future clean fuel provision. 

UK & Ireland 

Irish renewable power company FutureEnergy Ireland and Scottish based UK clean energy company SSE Renewables aim to collaborate on a 122MW wind farm located on the border between the counties of Cork and Kerry. 

SSE Renewables has begun construction on a 320MW battery storage project located in Monk Fryston, North Yorkshire. Construction will aim to be complete by 2026. 

Private investment of more than £24 billion has been accumulated for large clean energy projects in the UK. Global Spanish power company Iberdrola has also announced intentions to double UK investments between 2024-2028 up to £24 billion. 

Europe 

International Spanish solar outfit GRS and Spanish investment manager Everwood Capital will work together to deliver a 167MW solar project in Seville, Spain. 230,000 solar PV modules will be spread across 270 hectares. 

Poland will receive €1billon from the EU to encourage investments in electrical storage projects with capacity that exceeds 4MW. 

Multinational French power company Engie has reached an agreement with the International Finance Corporation (ICF) for a loan of €500 million. Funds will be used to expand activities into emerging markets of renewable energy such as Poland. 

Asia-Pacific 

International Spanish energy company Iberdrola has begun construction on their 556 MW solar and battery energy storage project in Clarke Creek, Queensland. This facility will generate enough power to supply 145,000 homes. Construction is hoped to be complete by mid-2026.  

Japanese renewable energy firm Erex is constructing 2 biomass plants located in Vietnam’s northern provinces of Tuyen Quang and Yen Bai. Each facility will hold an energy producing capacity of 50MW. Each biomass installation will take over 2 years for construction to be complete.  

Spanish multinational company Acconia Energia has announced that 27 wind turbines of the 923MW Macintyre Wind Farm in Queensland, Australia have been connected to the grid adding 154MW of operative capacity. Full project capacity will be achieved over the next year.   

USA

Danish government owned energy company Orsted has commissioned the 600MW solar and battery energy storage system in Pinal County, Arizona. Enough power will be produced for 65,000 homes. 

UK renewable energy company Octopus Energy has invested into the US solar market. This move forms part of Octopus Energy’s strategy of investing $2 billion into American solar power projects. The state of Texas will be targeted as an area of interest regarding solar developments for Octopus Energy.

$112 million of funding will be distributed between 17 waterpower technology projects over 5 years by the US government’s Water Power Technologies Office. Funding aims to provide a diverse option of wave technologies for future use in American waters.