The power industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
$500bn
Wells Fargo has announced plans to invest $500bn in sustainable financing by 2030 to support the transition to a low-carbon economy.
$4.5bn
LG Energy Solution has announced plans to invest more than $4.5bn (KRW5tn) by the end of 2025 to expand its battery production in the US.
15GW
Renewable energy company Scatec has announced an investment of $11.6bn (NOK100bn) to increase its renewable energy generation capacity by 2025. In the next four years, it aims to increase its portfolio to 15GW.
$1.35bn
India’s Adani Green Energy has raised a debt package of $1.35bn to finance its renewable asset portfolio. The agreement sets out a financing framework of agreed principles and procedures.
$40m
Hitachi Capital has announced a $40m green bond under Hitachi Capital UK’s EMTN programme.
Project updates
Spanish utility Acciona and Korea Zinc have agreed to jointly develop the 923MW MacIntyre wind farm in Queensland, Australia.
French industrial gas producer Air Liquide has signed a 100GWh power purchase agreement with Vattenfall in the Netherlands.
Renewable Power Capital has partnered with Spain-based photovoltaic developer Benbros Solar to develop 14 solar energy projects across Spain.
Luxembourg-based subsea engineering company Subsea 7 has entered a joint venture with Irish marine developer Simply Blue Energy to develop a floating wind farm.
Renewable energy developer Invenergy has secured construction financing for its 999MW Traverse Wind Energy Center in Oklahoma, US.
Further reading
Q&A: energy supply for small businesses with Tickd
As the world lurches towards an energy mix that is more reliant on renewable power than ever before, there are considerable uncertainties and insecurities in countries where decades-old energy supplies are being disrupted.
This was at its most extreme in Texas earlier this year, but the UK, too, has experienced significant energy disruption in recent years, with the price of energy notably volatile.
Aiming to address this uncertainty is Tickd, a company that looks to digitise the energy supply process for small businesses, bringing elements of automation and ease of access often seen for private customers to small-scale companies.
Read more: Power-Technology
