The EU has made significant progress in ensuring secure, affordable, and sustainable energy for its citizens. The EU has successfully weathered critical risks to its energy supply, regained control over the energy market and prices, and accelerated its transition towards climate neutrality. These achievements are outlined in the State of the Energy Union 2024 report, which assesses the EU’s progress in 2023-2024 towards the objectives of the Energy Union, the REPowerEU plan, and the clean energy transition. The EU has established a robust regulatory and financing framework to achieve its 2030 climate and energy goals, laying the foundation for renewed economic growth and competitiveness. For consumers, measures implemented at the EU level have resulted in a drastic decline in electricity and gas prices compared to their peak levels in 2022. Vulnerable consumers are also better protected from disconnection due to new energy market legislation. In terms of renewable energy, the EU has made significant strides. Renewable sources now account for half of the EU’s electricity generation, with wind power surpassing gas as the second largest source. Additionally, the EU has reduced greenhouse gas emissions by 32.5% since 1990, while its economy grew by 67% during the same period. The EU…
The Public Utilities Regulatory Commission (PURC) of Grenada is inviting expressions of interest (EOIs) for a renewable energy project at the island nation’s main international airport. The project aims to increase Grenada’s reliance on renewable energy and reduce its dependence on fossil fuels. PURC is seeking an independent power producer (IPP) to develop and operate either a 15.1MW standalone solar PV plant or a solar-plus-storage plant combining 15.1MW of solar PV and a 10.6MW/21.2MWh battery energy storage system (BESS). The project will be located at Maurice Bishop International Airport (MBIA) and will integrate into the existing grid operated by Grenada Electricity Services Limited (Grenlec). The project offers the opportunity for investors to contribute to Grenada’s sustainable energy goals and benefit from the potential for long-term revenue through a power purchase agreement (PPA) with Grenlec. The selected IPP will be responsible for the construction, operation, and maintenance of the plant for a period of 25 years. The solar PV plant will be distributed across three sites near MBIA, and the BESS will be located at a new substation to be constructed by Grenlec. Both options will include the provision of a power management system to ensure seamless integration and control…
Adani Green Energy Limited (AGEL) and TotalEnergies have announced a strategic joint venture (JV) to manage a portfolio of solar projects totaling 1,150 MW. The projects are located at the world’s largest renewable energy plant in Khavda, Gujarat. This partnership reinforces AGEL and TotalEnergies’ commitment to accelerating India’s transition to clean energy. AGEL will contribute its current assets to the new JV, while TotalEnergies will invest USD 444 million to expedite the development of these solar projects. The electricity generated from the 1,150 MW solar projects will be sold through Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI) and on the wholesale market. AGEL is developing the world’s largest renewable energy plant at Khavda, covering an area five times larger than Paris. With a cumulative capacity of 2,250 MW solar and wind energy already operational, the plant will supply affordable clean energy to over 16 million homes, create over 15,200 green jobs, and avoid about 58 million tons of CO2 emissions annually. The signing and completion of the transaction are subject to customary closing conditions including regulatory approvals.
Drees & Sommer SE, a leading consulting firm specializing in infrastructure, construction, and real estate, has been appointed to manage the large-scale hydrogen production project in Emden, Germany, being undertaken by EWE, the northern German energy supplier. Drees & Sommer will provide comprehensive project management services, including project steering, approval procedures, engineering management, and tendering support. The company brings extensive experience in managing complex infrastructure projects, particularly in the energy sector. The planned 320-megawatt electrolysis plant in Emden will produce up to 26,000 metric tonnes of green hydrogen per year, primarily for use in the steel industry. The project is part of EWE’s Clean Hydrogen Coastline (CHC) initiative, which aims to integrate green hydrogen production, transport, storage, and use. Drees & Sommer will provide comprehensive project management services, including project steering, approval procedures, engineering management, and tendering support. The company brings extensive experience in managing complex infrastructure projects, particularly in the energy sector. The planned 320-megawatt electrolysis plant in Emden will produce up to 26,000 metric tonnes of green hydrogen per year, primarily for use in the steel industry. The project is part of EWE’s Clean Hydrogen Coastline (CHC) initiative, which aims to integrate green hydrogen production, transport, storage,…
Atha Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce the successful completion of its 2024 Exploration Program at its 100%-owned Angilak Project in Nunavut. The Phase I diamond drilling program, conducted between June and August 2024, consisted of 25 drill holes totaling approximately 10,051 meters. Drilling targeted expansion of known mineralization at Lac 50 and exploration for new zones within the project area. Troy Boisjoli, CEO added: “We are extremely excited about the results from our work at the Angilak Project. The successful identification of uranium mineralization along strike at the deposit, combined with the confirmation of uranium mineralization across multiple proximal parallel trends, underscores the immense potential of this project. These results not only extend the footprint of known mineralization but also illuminate new opportunities for significant resource growth. We believe this progress marks a pivotal moment for ATHA as we execute an aggressive growth strategy at a time when the uranium industry is facing a potential unprecedented structural supply deficit. This project continues to show potential to unlock the uranium endowment in Nunavut which could become one of the most significant emerging uranium districts in recent history.” Cliff Revering, VP Exploration added: “The…
InCapture Pty Ltd today announced the award of Greenhouse Gas Assessment Permit G-15-AP, strategically located on Australia’s North West Shelf. This significant milestone marks a crucial step towards developing a carbon capture and storage (CCS) project in the region. The G-15-AP permit area spans over 6,500 square kilometers and is situated just 120 kilometers from the major industrial ports of Dampier and Port Hedland. This prime location offers potential for long-term, secure storage of greenhouse gas emissions from nearby industrial facilities. InCapture is aiming to launch a fully operational CCS project by the early 2030s, providing a critical solution for hard-to-abate industries and supporting Australia’s net-zero emissions targets. The project will also offer storage solutions to neighboring countries in South-East Asia, Korea, and Japan. InCapture is partnering with SK earthon Australia Pty Ltd and Carbon CQ Pty Ltd on the G-15-AP project. The consortium brings together expertise in CCS project development, engineering, and regulatory compliance. Julia Davies, General Manager of InCapture, emphasized the critical role of CCS in achieving sustainability goals: “CCS is essential for Australia and its neighbouring countries to meet their net-zero commitments. The recent award of greenhouse gas assessment permits by the Australian Commonwealth Government is a…
Korea Hydro & Nuclear Power (KHNP) has been selected as the preferred bidder for the construction of a new nuclear power plant in Czechia. This significant win marks KHNP’s entry into the European nuclear market. The Czech government estimates the total project cost at approximately 200 billion Czech Koruna for a single unit, and around 400 billion Czech Koruna for two units. Final contract negotiations between KHNP and the project owner are expected to conclude by March 2025. KHNP’s APR1000 reactor, certified to meet the highest European safety and environmental standards, will be the centerpiece of the project. The company is committed to maximizing local content and has already signed MoUs with over 76 Czech companies, including Doosan Škoda Power, ŠKODA JS, and Metrostav Diz. “The Czech government selected KHNP as the preferred bidder based on our internationally recognised capabilities in nuclear power plant construction. We are proud that KHNP has been able to become an important player in supporting to meet energy needs and reduce carbon emissions, extending beyond Korea,” stated Dr. Jooho Whang, CEO of KHNP. “A nuclear project means long-term cooperation for the next 100 years or so, from construction to operation. The construction of the APR1000…
SSE Renewables and Gilkes Energy have announced a joint venture to develop the Loch Fearna pumped storage hydro (PSH) project in Scotland’s Great Glen. The project, which could be one of the largest PSH schemes in the UK, will play a crucial role in supporting the UK’s transition to a net-zero energy system. Located near Invergarry, the Loch Fearna project will connect SSE Renewables’ existing Loch Quoich reservoir with a new upper reservoir at Loch Fearna. With a potential generating capacity of up to 1.8GW and a stored energy capacity of around 37GWh, the project will deliver essential long-duration electricity storage (LDES) to balance the grid during periods of low renewable generation. Gilkes Energy will lead the project’s development under a development services agreement with SSE Renewables. The joint venture partners have already secured a grid connection offer and are currently consulting with local communities on the project. A planning consent application is expected to be submitted to the Scottish Government in due course. Ross Turbet, Head of Investment Management for Hydro, SSE Renewables, said: “As the UK transitions to net zero, the development of additional pumped storage hydro projects will be crucial for energy security and for balancing an…
SEB, a Nordic financial services corporation, has announced a €125 million green loan to Aquila Clean Energy EMEA for the construction of the Akmenė Two wind farm in northern Lithuania. This marks one of SEB’s largest transactions in Lithuania to date and underscores the bank’s commitment to supporting renewable energy projects. The 99.2 MW Akmenė Two wind farm will feature 16 turbines and is scheduled to be commissioned in 2026. This project represents Aquila Clean Energy’s second wind farm in Lithuania, following the successful development of Akmenė One, which was also financed by SEB. “This is one of the bank’s most important transactions in Lithuania recently, and the financed wind park is currently the largest project of its kind here in terms of electricity generation,” says Tadas Jonušauskas, Head of Corporate Banking at SEB Lithuania. Lithuania produced around four terawatts (TWh) of electricity from renewable sources last year, accounting for 70 per cent of total production. More than half of this, around 2.5 TWh, came from wind energy. The amount of energy produced by wind power plants increased by 66.8 per cent last year compared to 2022. The increased production brought Lithuania closer to its goal of energy independence. According…
GKN Aerospace has launched H2FlyGHT, a groundbreaking £44 million project focused on developing a 2-megawatt (MW) cryogenic hydrogen-electric propulsion system for the next generation of sustainable aircraft. Building upon the success of the H2GEAR project, H2FlyGHT introduces advanced thermal management solutions to enhance efficiency and performance. The project aims to streamline the path to flight testing and certification by demonstrating an integrated propulsion system at the 2 MW scale, including fuel cell power generation, cryogenic power distribution, and advanced cryogenic drive systems. GKN Aerospace is collaborating with key industry and academic partners, including Parker Meggitt, the University of Manchester, and the University of Nottingham, to achieve the project’s ambitious goals. Together, they will focus on developing critical components such as thermal management systems, hyperconducting motor coils, and cryogenic inverter technology. Russ Dunn, CTO of GKN Aerospace, said: “The H2FlyGHT project marks a pivotal step in our quest to enable aviation’s route to netzero. Building on H2GEAR’s innovations, we are scaling up to 2 MW propulsion system demonstration to maximise the payload and range potential of zero emission flight. Collaborating with our partners, we aim to streamline the path to flight testing and certification, supporting the industry’s move to commercialise sustainable…
