The power industry briefing
The latest news, trends and data you need to know about this month
News in Numbers
$505m
Swiss technology company ABB has agreed to sell its Power Conversion division to AcBel Polytech for a $505m cash consideration.
2.4GW
Spanish electricity utility Iberdrola is looking to sell some of its wind, solar and gas assets in Spain, totalling 2.4GW of power capacity.
2021
Lightsource BP will sell its solar PV cluster in Spain, which comprises five projects located in Aragón, and has been operational since 2021.
30%
The UAE plans to source 30% of its domestic power needs from renewable sources by 2030.
$259.6m
Power Capital Renewable Energy has secured $259.6m of financing to bring 1.2GW of solar capacity to operation by 2025.
Project updates
The Government of New South Wales (NSW), Australia, has shortlisted 16 projects in its first renewables tender auction. The projects have more than 4.3GW of combined power generation and long-duration storage capacity.
They were selected under the NSW Electricity Infrastructure Roadmap, which aims to build at least 12GW of renewable capacity and 2GW of duration storage in the state by 2030.
Swedish renewable project developer OX2 has started building the Tyrsky offshore wind farm in the Gulf of Bothnia near Finland.
The 1.4GW offshore project will be located south-west of Vaasa in the Finnish economic zone, around 30km north-west of Kaskinen. It will feature 100 wind turbines and have the capacity to generate 6TWh of renewable energy a year.
German independent power producer Encavis has signed a framework agreement with ilos New Energy Italy for a 300MW solar project pipeline in Italy.
The partnership gives Encavis access to ten late-stage solar park projects, whose capacities range from 20MW to 55MW. The solar projects are located in central and southern Italy, as well as Sardinia and Sicily.
Nordic wind power developer Eolus has formed a joint venture with German firm PNE to develop a 1GW offshore wind farm in the Baltic Sea.
The Kurzéme offshore wind facility is located off the west coast of Latvia and is expected to come online before 2030. Once operational, the project will have the capacity to generate 4.5TWh of renewable electricity a year.
Further reading
GreenGo Energy to develop €8bn green energy park in Denmark
Danish firm GreenGo Energy has partnered with Ringkøbing-Skjern Municipality for the development of a 4GW green energy park. Named Megaton, the project will be built at the future Stovstrup 400kV substation east of Tarm in Ringkøbing-Skjern municipality.
Its development will require a total investment of $8.7bn (€8bn). The Megaton energy park will cover 4,000ha of land and consist of onshore solar and wind projects, in addition to a 2GW offshore wind project that GreenGo plans to develop.
Clean energy generated by the renewable assets will be supplied to the energy park, which will have a 2GW electrolysis infrastructure. Megaton is expected to come online before 2030 and will have the capacity to produce one million tonnes of green fuel a year.
Read more: Power Technology