The power industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
€910m
The Indian Government has approved the revised cost estimate of the North Eastern Region Power System Improvement Project with an estimated cost of $910m (Rs67bn).
45GW
The Japanese Government is planning to quadruple its offshore wind generation capacity by 2040, to 45GW, as part of its efforts to meet its 2050 decarbonisation target.
$1.1bn
Enel Group’s Brazilian renewable subsidiary Enel Green Power is investing roughly $1.1bn into the construction of five new renewable facilities, including four wind farms and one solar plant, in north-eastern Brazil.
€1.5bn
Infrastructure investment management firm I Squared Capital has agreed to sell Grupo T-Solar to Cubico Sustainable Investments for a consideration of €1.5bn.
£3bn
Infrastructure investor Macquarie has confirmed £3bn of investment into environmentally friendly projects to UK ministers, as part of an agreement from 2017.
Project updates
German energy company RWE has signed an agreement to divest 51% stake in four onshore wind facilities in Texas, US, to Algonquin Power & Utilities’ subsidiary for $600m.
Vena Energy Australia has achieved financial close for the $120m Wandoan South battery energy storage system in the state of Queensland.
GE Renewable Energy has signed an agreement with BE Power to co-develop a 400MW Big-T (Cressbrook) pumped hydro storage project in Toowoomba, Australia.
Chinese solar photovoltaic manufacturer JA Solar has entered into a distribution partnership with India’s PV products distributor Redington.
Mitsubishi Power has won a contract from North American power producer Capital Power for the supply of two M501JAC gas turbines.
Further reading
Iran Says It Has Resumed Enriching Uranium To 20% Purity, Further Breaching Nuclear Pact
An Iranian Government spokesperson has announced that the country has resumed enriching uranium to 20% purity, further breaking the 2015 agreement between Iran, the P5+1 (the permanent members of the United Nations Security Council—the United States, the United Kingdom, Russia, France, and China—plus Germany), and the EU.
The agreement, known as the Joint Comprehensive Action Plan (JCAP), set out to govern and oversee Iran's nuclear facilities and development. Under President Donald Trump, the US unilaterally withdrew from the agreement in 2018 and Iran has since resumed enrichment. President-elect Biden has announced that he will look to rejoin the JCAP upon taking office.
Read more: Forbes
