<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>renewables Archives • The Electricity Hub</title> <atom:link href="https://theelectricityhub.com/tag/renewables/feed/" rel="self" type="application/rss+xml" /> <link>https://theelectricityhub.com/tag/renewables/</link> <description>Collating and Disseminating Credible Power Industry Data and Information</description> <lastBuildDate>Fri, 10 Jan 2025 10:36:58 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <image> <url>https://theelectricityhub.com/wp-content/uploads/2020/11/cropped-NEH-32x32.png</url> <title>renewables Archives • The Electricity Hub</title> <link>https://theelectricityhub.com/tag/renewables/</link> <width>32</width> <height>32</height> </image> <item> <title>First Bifacial Solar Panel Recycling Line Launched in the United States</title> <link>https://theelectricityhub.com/first-bifacial-solar-panel-recycling-line-launched-in-the-us/</link> <comments>https://theelectricityhub.com/first-bifacial-solar-panel-recycling-line-launched-in-the-us/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Fri, 10 Jan 2025 10:36:38 +0000</pubDate> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[clean material]]></category> <category><![CDATA[Green Energy]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[Solar Market]]></category> <category><![CDATA[SolarPanelRecycling.com]]></category> <category><![CDATA[Sustainability]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=98618</guid> <description><![CDATA[<p>The U.S. solar industry is experiencing rapid change due to technological advancements and economic pressures. SolarPanelRecycling.com (SPR), a leader in solar recycling, launched the nation’s first automated recycling line for… </p> <p>The post <a href="https://theelectricityhub.com/first-bifacial-solar-panel-recycling-line-launched-in-the-us/">First Bifacial Solar Panel Recycling Line Launched in the United States</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">SolarPanelRecycling.com (SPR) launches the first U.S. recycling line for bifacial solar panels, aiming for 99% material recovery.</li> <li class="">Bifacial panels will dominate 70% of solar installations by 2033, creating new waste management challenges.</li> <li class="">SPR’s innovation strengthens the U.S. solar sector’s global competitiveness while addressing critical sustainability needs.</li> </ul> <p class="">The U.S. solar industry is experiencing rapid change due to technological advancements and economic pressures. SolarPanelRecycling.com (<a href="https://energynews.pro/en/united-states-solarpanelrecycling-com-targets-99-recycling-for-bifacial-panels/">SPR</a>), a leader in solar recycling, launched the nation’s first automated recycling line for bifacial solar panel. This system recovers 99% of materials and addresses the growing waste problem in the fast-evolving solar market.</p> <p class="">Bifacial panels, designed to capture sunlight from both sides, will dominate the market, with projections showing they will account for 70% of installations by 2033, according to the International Energy Agency Photovoltaic Power Systems Program (IEA-PVPS). However, bifacial technology brings new challenges, especially with damaged modules from transport, installation, or extreme weather. Conventional recycling systems designed for older myofascial panels cannot process bifacial modules efficiently.</p> <p class="">SPR solves this issue with its new recycling line, which allows <a href="https://theelectricityhub.com/?s=clean+material">clean material</a> separation, boosting recovery value and efficiency. The company addresses a pressing need by maximising material recovery as manufacturers and developers seek cost-effective, sustainable solutions amidst rising global competition.</p> <p class="">This recycling line launch reflects a broader industry trend to adapt infrastructure to the latest market demands. As solar technology advances, efficient waste management becomes critical for growth. SPR strengthens the U.S. position in the global solar sector, keeping pace with similar efforts in Europe and Asia. Large-scale solar waste processing will also influence international energy policies.</p> <p class="">SPR’s move also signals a shift in the economic model of solar recycling. Companies now focus on high-value processes to meet financial and industrial demands from major clients. As bifacial panel recycling grows from a niche service to a mainstream offering, it will reshape the solar value chain, affecting manufacturers and project developers.</p> <p class="">SPR’s new technology boosts sustainability efforts and gives the U.S. a competitive edge in the global solar industry. Recycling panels at scale offers a strategic advantage as the U.S. continues expanding its <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> capacity.</p> <p class="">By innovating in solar recycling, SPR meets the industry’s evolving demands. Although recycling bifacial panels remains a specialised service, it could soon become essential in global solar waste management. SPR drives economic and environmental change, helping shape the future of solar recycling.</p> <p class="">SPR’s role in technological innovation and <a href="https://theelectricityhub.com/?s=sustainability">sustainability</a> grows as the solar industry evolves. This new recycling line sets a new standard for managing solar waste and recovering valuable materials, pushing the solar market toward a cleaner and more efficient future.</p> <p>The post <a href="https://theelectricityhub.com/first-bifacial-solar-panel-recycling-line-launched-in-the-us/">First Bifacial Solar Panel Recycling Line Launched in the United States</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/first-bifacial-solar-panel-recycling-line-launched-in-the-us/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Raptor Maps Secures $35M to Elevate Solar Park Performance</title> <link>https://theelectricityhub.com/raptor-maps-secures-35m-to-elevate-solar-park-performance/</link> <comments>https://theelectricityhub.com/raptor-maps-secures-35m-to-elevate-solar-park-performance/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Fri, 13 Dec 2024 08:28:32 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Raptor Maps]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[Solar Park]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=97764</guid> <description><![CDATA[<p>Raptor Maps, a solar software company, raised $35 million in Series C funding led by Maverix Private Equity. Investors such as MKB, Blue Bear Capital, Congruent Ventures, Buoyant Ventures, and… </p> <p>The post <a href="https://theelectricityhub.com/raptor-maps-secures-35m-to-elevate-solar-park-performance/">Raptor Maps Secures $35M to Elevate Solar Park Performance</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Raptor Maps raised $35 million in Series C funding, led by Maverix Private Equity, to enhance its solar park management software.</li> <li class="">The company plans to expand its machine learning analytics and strengthen technical teams to address solar asset underperformance.</li> <li class="">Raptor Maps’ solutions aim to boost solar park efficiency and maximise financial returns for asset owners using data-driven tools and robotics.</li> </ul> <p class="">Raptor Maps, a solar software company, raised $35 million in Series C funding led by <a href="https://energynews.pro/en/raptor-maps-secures-35-million-to-optimize-solar-asset-management/">Maverix Private Equity</a>. Investors such as MKB, Blue Bear Capital, Congruent Ventures, Buoyant Ventures, and Y Combinator also participated.</p> <p class="">The company plans to use the funds to enhance its software products and solve solar asset underperformance. Since its founding, Raptor Maps has focused on digitising and optimising solar parks across North America and globally.</p> <p class="">One of the company’s key products, Raptor Solar Sentry, uses analytics and robotics to boost solar park efficiency. This technology helps asset owners close the gap between projected and actual returns, a recurring issue in the <a href="https://theelectricityhub.com/?s=carbon+footprint">solar industry</a>.</p> <p class="">Nikhil Vadhavkar, CEO and co-founder of Raptor Maps, emphasised how the new funding will allow them to advance solar management tools. “This investment will strengthen our ability to improve solar park operations and increase returns for asset owners,” Vadhavkar stated.</p> <p class="">Mohit Talwar, a partner at Maverix Private Equity, underscored the importance of this investment in the solar industry. He praised Raptor Maps for streamlining operations and maximising the value of solar assets.</p> <p class="">Raptor Maps will use the capital to expand its machine learning-based analytics. The company also plans to strengthen its technical and operational teams to help solar park owners reduce operational expenses (OpEx) and boost financial returns.</p> <p class="">Raptor Maps aims to equip solar park investors and managers with precise tools to improve asset performance. Their focus aligns with a global trend toward data-driven solutions for increasing <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> asset efficiency and profitability.</p> <p class="">With this funding round, Raptor Maps takes a major step toward meeting the growing demand for higher solar investment returns. The company addresses some of the industry’s most persistent challenges by integrating advanced analytics with on-site robotics.</p> <p class="">The solar sector continues to expand rapidly, but many assets fail to meet projected returns. Raptor Maps tackles this performance gap, helping asset owners maximise their investments.</p> <p class="">Raptor Maps is leading the push to digitise <a href="https://theelectricityhub.com/?s=solar+park">solar park</a> operations, allowing managers to oversee vast portfolios more accurately. The company’s technology enables real-time monitoring, predictive maintenance, and optimized performance, which are key to ensuring solar park success.</p> <p class="">As the renewable energy market evolves, Raptor Maps focuses on analytics-driven solutions that reflect a broader shift toward more sophisticated asset management tools. The rise of solar installations requires better performance monitoring and optimisation strategies.</p> <p class="">With this fresh capital, Raptor Maps aims to solidify its position as a leader in solar park management technology. The company plans to improve its existing tools while developing new solutions to meet the evolving needs of the solar industry.</p> <p class="">This funding allows Raptor Maps to continue innovating in the solar sector, helping asset owners improve operational efficiency and maximise returns. The investment reflects the growing trend of leveraging advanced technology to enhance renewable energy profitability.</p> <p>The post <a href="https://theelectricityhub.com/raptor-maps-secures-35m-to-elevate-solar-park-performance/">Raptor Maps Secures $35M to Elevate Solar Park Performance</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/raptor-maps-secures-35m-to-elevate-solar-park-performance/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Citicore, Trina Solar Ink 2 GW Solar Deal</title> <link>https://theelectricityhub.com/citicore-trina-solar-ink-2-gw-solar-deal/</link> <comments>https://theelectricityhub.com/citicore-trina-solar-ink-2-gw-solar-deal/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Thu, 14 Nov 2024 07:15:05 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Citicore]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[Solar Project]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=96373</guid> <description><![CDATA[<p>Citicore Renewable Energy Corporation (CREC), a top renewable energy developer in the Philippines, signed a 2 GW solar module supply deal with Trina Solar. Trina Solar, a global leader in… </p> <p>The post <a href="https://theelectricityhub.com/citicore-trina-solar-ink-2-gw-solar-deal/">Citicore, Trina Solar Ink 2 GW Solar Deal</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Citicore Renewable Energy Corporation signed a 2 GW solar module supply deal with Trinasolar for future solar projects in the Philippines.</li> <li class="">The agreement supports Citicore’s goal of reaching 5 GW renewable capacity within five years, contributing to the Philippine government’s Green Energy Auction Program.</li> <li class="">Trina Solar will provide its Vertex N 720W modules, which feature advanced i-TOPCon technology for improved efficiency and lower energy costs.</li> </ul> <p class="">Citicore Renewable Energy Corporation (<a href="https://energynews.pro/en/citicore-signs-a-2-gw-solar-module-supply-agreement-with-trinasolar-in-the-philippines/">CREC</a>), a top renewable energy developer in the Philippines, signed a 2 GW solar module supply deal with Trina Solar. Trina Solar, a global leader in photovoltaic solutions and <a href="https://theelectricityhub.com/?s=energy+storage">energy storage</a>, will provide the modules for CREC’s future solar projects. The companies finalised this agreement during a ceremony in Manila, marking their most significant contract.</p> <p class="">In upcoming solar projects, CREC plans to use Trinasolar’s Vertex N 720W (NEG21C.20) solar modules. These projects, including the Green Energy Auction Program, support the Philippine government’s <a href="https://theelectricityhub.com/?s=renewable+energy+goals">renewable energy goals</a>.</p> <p class="">CREC sets an ambitious target of reaching 5 GW renewable energy capacity within five years. CEO Oliver Tan confirmed that the first gigawatt is already underway. The new 2 GW deal pushes CREC closer to its goal. CREC has now contracted 3 GW with Trinasolar, strengthening their ongoing partnership.</p> <p class="">This collaboration highlights CREC’s commitment to driving the energy transition in the Philippines. CREC’s “Green First World” vision focuses on sustainable, emission-free energy, aligning with national efforts to reduce the country’s <a href="https://theelectricityhub.com/?s=carbon+footprint">carbon footprint</a> and increase <a href="https://theelectricityhub.com/?s=renewable+energy+production">renewable energy production</a>.</p> <p class="">For Trinasolar, the agreement represents its largest contract in the Philippines. Helena Li, Executive President of Trina Solar, emphasised the trust between both companies and their shared goal of advancing sustainable energy in the Philippines. Trina Solar will supply its advanced Vertex N 720W modules using i-TOPCon cell technology with highly efficient n-type cells. These modules boost energy production and lower the Levelised Cost of Energy (LCOE), a crucial factor for large-scale solar projects.</p> <p class="">Several top executives from both companies attended the signing ceremony, including Alreetz Santander, President of Citicore Construction, and Todd Li, President of Trinasolar Asia Pacific. Their presence underscored the deal’s significance for CREC and the country’s renewable energy sector.</p> <p class="">Citicore continues to focus on growing its renewable energy capacity through innovative technologies and strategic partnerships. This latest agreement with Trinasolar will help CREC meet the increasing energy demands in the Philippines. The partnership aims to establish new benchmarks for sustainable energy development in the region.</p> <p class="">By adding 2 GW from Trinasolar to its portfolio, CREC strengthens its position as a critical player in the Philippines’ renewable energy market. The company remains committed to achieving its 5 GW goal while accelerating the country’s shift to <a href="https://theelectricityhub.com/?s=cleaner+energy">cleaner energy</a> and supporting sustainable growth.</p> <p class="">Both CREC and Trinasolar will continue working toward expanding renewable energy solutions, pushing the Philippines closer to a greener and more <a href="https://theelectricityhub.com/?s=sustainable+energy+future">sustainable energy future</a>. </p> <p>The post <a href="https://theelectricityhub.com/citicore-trina-solar-ink-2-gw-solar-deal/">Citicore, Trina Solar Ink 2 GW Solar Deal</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/citicore-trina-solar-ink-2-gw-solar-deal/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Akastor ASA Secures 75% Stake in AKOFS Offshore for $22.5M</title> <link>https://theelectricityhub.com/akastor-asa-secures-75-stake-in-akofs-offshore-for-22-5m/</link> <comments>https://theelectricityhub.com/akastor-asa-secures-75-stake-in-akofs-offshore-for-22-5m/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Fri, 08 Nov 2024 07:22:02 +0000</pubDate> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Akastor ASA]]></category> <category><![CDATA[offshore energy projects]]></category> <category><![CDATA[renewables]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=96052</guid> <description><![CDATA[<p>Akastor ASA has acquired Mitsui & Co., Ltd.’s shares in AKOFS Offshore AS. This $22.5 million deal boosts Akastor’s ownership to 75%, while Mitsui O.S.K. Lines, Ltd. (MOL) retains 25%.… </p> <p>The post <a href="https://theelectricityhub.com/akastor-asa-secures-75-stake-in-akofs-offshore-for-22-5m/">Akastor ASA Secures 75% Stake in AKOFS Offshore for $22.5M</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Akastor ASA acquires Mitsui’s 25% stake in AKOFS Offshore for $22.5 million, raising its ownership to 75%.</li> <li class="">Akastor will make an initial payment of $15 million, with two $3.75 million instalments due in June and December 2025.</li> <li class="">The deal strengthens Akastor’s position in the growing subsea intervention market. The acquisition is expected to close in Q1 2025.</li> </ul> <p class="">Akastor ASA has acquired Mitsui & Co., Ltd.’s shares in <a href="https://energynews.pro/en/akastor-strengthens-its-stake-in-akofs-offshore-by-acquiring-mitsuis-shares/">AKOFS Offshore AS</a>. This $22.5 million deal boosts Akastor’s ownership to 75%, while Mitsui O.S.K. Lines, Ltd. (MOL) retains 25%.</p> <p class="">Akastor will pay $15 million upfront, followed by two instalments of $3.75 million in June and December 2025. Pending regulatory approval, the transaction will close in the first quarter of 2025.</p> <p class="">AKOFS Offshore focuses on subsea intervention and installation services. By increasing its stake, Akastor strengthens its position in the growing subsea market, which has seen rising demand, particularly in subsea intervention. Once finalized, Akastor will continue to report AKOFS Offshore as a joint venture using the equity method.</p> <p class="">Akastor’s CEO, Karl Erik Kjelstad, emphasised the deal’s strategic timing. “The subsea market remains strong, and this is the perfect moment to expand our involvement in AKOFS Offshore,” he said. Kjelstad also appreciated Mitsui’s partnership since 2018 and expressed enthusiasm for continuing work with MOL.</p> <p class="">Following the acquisition, Akastor and MOL will renegotiate the shareholders’ agreement. They aim to preserve most of the existing structure while adjusting for the updated ownership. Their goal is to align both parties on AKOFS Offshore’s growth strategy.</p> <p class="">Arctic Securities handles Akastor’s financial advisory needs, while BA-HR law firm manages the legal aspects. Their expertise ensures compliance with the subsea industry’s intricate economic and legal requirements.</p> <p class="">This acquisition allows Akastor to gain more control over AKOFS Offshore’s operations. With a 75% stake, Akastor can better guide the company to capitalise on the growing demand for subsea services, which is crucial to offshore energy projects. As deepwater projects increase, Akastor expects to benefit from the heightened demand.</p> <p class="">The deal marks the end of Mitsui’s five-year partnership with AKOFS Offshore. Mitsui joined AKOFS in 2018, helping it enhance its subsea intervention capabilities. MOL remains committed to being a partner in the subsea sector.</p> <p class="">Akastor’s move comes at a time of strong market conditions. The subsea services industry continues to experience significant growth, driven by the rising need for <a href="https://theelectricityhub.com/?s=offshore+energy+projects">offshore energy projects</a>. With its expertise, AKOFS Offshore stands to benefit from this trend, and Akastor’s expanded stake enables it to steer the company through this phase.</p> <p class="">Akastor will focus on smoothly integrating its new ownership stake as the transaction proceeds. The company also plans to work closely with MOL to ensure a unified approach to AKOFS Offshore’s future. Akastor positions itself to seize growth opportunities in the subsea services market by boosting its stake.</p> <p>The post <a href="https://theelectricityhub.com/akastor-asa-secures-75-stake-in-akofs-offshore-for-22-5m/">Akastor ASA Secures 75% Stake in AKOFS Offshore for $22.5M</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/akastor-asa-secures-75-stake-in-akofs-offshore-for-22-5m/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Cordelia Power Sparks Growth with $1.3 Billion Energy Boost</title> <link>https://theelectricityhub.com/cordelia-power-sparks-growth-with-1-3-billion-energy-boost/</link> <comments>https://theelectricityhub.com/cordelia-power-sparks-growth-with-1-3-billion-energy-boost/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Mon, 21 Oct 2024 06:51:57 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Cordelia Power]]></category> <category><![CDATA[Energy transition]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[Wind Farm]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=95322</guid> <description><![CDATA[<p>Cordelia Power announced the launch of four renewable energy projects and commissioned a 165 MW wind facility, reinforcing its presence in the US energy market. The company secured $1.3 billion… </p> <p>The post <a href="https://theelectricityhub.com/cordelia-power-sparks-growth-with-1-3-billion-energy-boost/">Cordelia Power Sparks Growth with $1.3 Billion Energy Boost</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Cordelia Power launched four renewable energy projects and commissioned a 165 MW wind facility with $1.3 billion in financing.</li> <li class="">The company’s projects span multiple states, including wind, solar, and energy storage initiatives expected to be operational by mid-2025.</li> <li class="">Cordelia Power filed for over 6,000 MW of wind and 2,500 MW of storage projects, aiming to significantly expand in US power markets.</li> </ul> <p class="">Cordelia Power announced the launch of four <a href="https://theelectricityhub.com/?s=renewable+energy+projects">renewable energy projects</a> and commissioned a 165 MW wind facility, reinforcing its presence in the US energy market. The company secured $1.3 billion in financing to ensure these projects progress within planned timelines.</p> <p class="">The new projects span multiple states. Cordelia Power will develop Arkansas’s 135 MW Crossover wind project to harness local wind resources. <a href="https://energynews.pro/en/cordelio-power-advances-four-projects-into-construction-and-one-into-operations/#google_vignette">Missouri</a> will see the construction of Winfield, a 150 MW solar project, as part of the company’s solar energy expansion.</p> <p class="">In Arizona, Cordelia Power teamed up with BrightNight to co-develop the 300 MW Box Canyon solar facility, with BrightNight owning 50% of the project. This partnership will combine expertise to optimise solar output. Meanwhile, the company will implement the McHenry project in Illinois, a 20 MW / 40 MWh battery energy storage system, emphasising its focus on advanced technology.</p> <p class="">Cordelia Power brought the Moraine Sands project, a 165 MW <a href="https://theelectricityhub.com/?s=wind+farm">wind farm</a> in Mason County, Illinois, into commercial operation. This achievement demonstrates the company’s ability to execute large-scale renewable energy projects. It expects all new construction projects to be fully operational by mid-2025, contingent on long-term power purchase agreements (PPAs).</p> <p class="">Investors showed strong confidence in Cordelia Power’s strategy by providing $1.3 billion in funding. The company engaged leading contractors like Mortenson, Blattner, Qcells, and Pepper Energy to deliver high-quality and timely project execution.</p> <p class="">Looking ahead, Cordelia Power filed interconnection requests this year for over 6,000 MW of wind projects and 2,500 MW of storage projects across the MISO and Pacific Northwest power markets. The company’s expansion plan signals its ambition to contribute to the renewable energy transition and create business opportunities in local communities.</p> <p class="">By moving forward with these projects, Cordelia Power continues strengthening its role in the renewable energy sector, driving sustainable development and advancing the <a href="https://theelectricityhub.com/?s=energy+transition">energy transition</a> across the US.</p> <p>The post <a href="https://theelectricityhub.com/cordelia-power-sparks-growth-with-1-3-billion-energy-boost/">Cordelia Power Sparks Growth with $1.3 Billion Energy Boost</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/cordelia-power-sparks-growth-with-1-3-billion-energy-boost/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Baltic Power Wind Farm: A New Era of Renewable Energy in Poland</title> <link>https://theelectricityhub.com/baltic-power-wind-farm-a-new-era-of-renewable-energy-in-poland/</link> <comments>https://theelectricityhub.com/baltic-power-wind-farm-a-new-era-of-renewable-energy-in-poland/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Sat, 12 Oct 2024 11:25:50 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Baltic power]]></category> <category><![CDATA[Onshore]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[Wind Farm]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=95058</guid> <description><![CDATA[<p>The Baltic Power wind farm achieved a key milestone by completing its first directional drill under the coastline in the Lubiatowo area. This operation connects the offshore site to the… </p> <p>The post <a href="https://theelectricityhub.com/baltic-power-wind-farm-a-new-era-of-renewable-energy-in-poland/">Baltic Power Wind Farm: A New Era of Renewable Energy in Poland</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">The Baltic Power wind farm has completed its first directional drill under the coastline in Lubiatowo, connecting the offshore site to the onshore substation. </li> <li class="">The project, utilising Horizontal Directional Drilling (HDD) technology, will generate over 8,000 m³ of excavated material suitable for beach restoration. </li> <li class="">Once operational in 2026, Baltic Power will become Poland’s first offshore wind farm, supplying 3% of the country’s energy needs and reducing CO2 emissions by approximately 2.8 million tonnes annually. </li> </ul> <p class="">The Baltic Power wind farm achieved a key milestone by completing its first directional drill under the coastline in the <a href="https://energynews.pro/en/baltic-power-wind-farm-completes-first-onshore-connection/">Lubiatowo area</a>. This operation connects the offshore site to the onshore substation, enhancing Poland’s renewable energy landscape.</p> <p class="">The initial drill forms part of four planned directional drills that pass through the coastline, beach, and seabed. Workers completed this segment without impacting ecologically sensitive areas. The 1.4 km tunnel will house power transmission cables, vital for linking the Baltic Power offshore wind farm to its <a href="https://theelectricityhub.com/?s=onshore+infrastructure">onshore infrastructure</a>. The team employed Horizontal Directional Drilling (HDD) technology, marking its first large-scale use in Poland.</p> <p class="">The completed section consists of four underground corridors for 30 cm diameter cables. Part of the drilling took place <a href="https://theelectricityhub.com/?s=offshore">offshore</a>, using divers and a jack-up rig to finish the underwater section. The project will generate over 8,000 m³ of excavated material. Studies by Baltic Power confirmed that the sand remains clean and suits beach restoration, aiding efforts to repair winter storm damage.</p> <p class="">Jarosław Broda, a Baltic Power Management Board member, stated, “Progress on Baltic Power, our region’s largest renewable energy project, stays on schedule and advances well.” He added that the first drill has been completed, and work is ongoing to connect submarine cables to the offshore substations. This initiative remains unprecedented in Poland and differs from other European offshore wind projects.</p> <p class="">Jens Poulsen, also a management board member, discussed the engineering challenges. He explained, “In Europe, shoreline crossing drills usually come shorter, and drill diameters shrink. We drill nearly 1.5 kilometres beneath the dunes, beach, and seabed while minimising environmental disruption.”</p> <p class="">The team transports heavy equipment mainly at night to lessen inconvenience for residents and tourists. Vehicles travel at 10 km/h under escort to minimise disturbances. Local authorities agreed to keep the popular beach access path near the worksite open for tourists and cyclists.</p> <p class="">Construction also progresses at the onshore substation about 8 km away in Osieki Lęborskie. This facility will receive energy from the Baltic Power <a href="https://theelectricityhub.com/?s=wind+farm">wind farm</a> and integrate it into the National Power Grid. The power line linking to the substation will also undergo underground installation. The onshore cable route will minimise environmental impact, avoiding areas of high ecological value. The onshore substation has reached over 40% completion, with full completion expected in the fourth quarter of 2025.</p> <p class="">Baltic Power aims to become one of the first projects globally to install 15 MW wind turbines. The project will also represent the first use of a significant portion of turbine towers made from low-carbon steel. Once completed in 2026, Baltic Power will become the first Polish offshore wind farm operating in the Baltic Sea. The project expects to supply 3% of Poland’s energy needs while reducing <a href="https://theelectricityhub.com/?s=CO2+emissions">CO2 emissions</a> by approximately 2.8 million tonnes annually.</p> <p class="">The Baltic Power wind farm represents a significant advancement in Poland’s renewable energy sector, combining innovative technology with environmental stewardship. Its successful progress marks a promising step toward a <a href="https://theelectricityhub.com/?s=sustainable+energy">sustainable energy</a> future for the region.</p> <p>The post <a href="https://theelectricityhub.com/baltic-power-wind-farm-a-new-era-of-renewable-energy-in-poland/">Baltic Power Wind Farm: A New Era of Renewable Energy in Poland</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/baltic-power-wind-farm-a-new-era-of-renewable-energy-in-poland/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Masdar Accelerates European Renewable Energy Expansion</title> <link>https://theelectricityhub.com/masdar-accelerates-european-renewable-energy-expansion/</link> <comments>https://theelectricityhub.com/masdar-accelerates-european-renewable-energy-expansion/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Tue, 01 Oct 2024 10:34:00 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Energy transition]]></category> <category><![CDATA[Masdar]]></category> <category><![CDATA[offshore energy]]></category> <category><![CDATA[renewable energu]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[solar Capacity]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=94451</guid> <description><![CDATA[<p>Masdar, a key renewable energy company, increases its footprint in Europe. Owned by ADNOC, Mubadala Investment Company, and TAQA, Masdar recently acquired the Spanish firm Saeta Yield from Brookfield Renewable… </p> <p>The post <a href="https://theelectricityhub.com/masdar-accelerates-european-renewable-energy-expansion/">Masdar Accelerates European Renewable Energy Expansion</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li>Masdar acquired Spanish firm Saeta Yield for $1.4 billion, gaining 745 MW of operational assets and a 1.6 GW development pipeline by 2030.</li> <li>The company secured a 49.99% stake in Endesa’s 2 GW solar capacity portfolio, which includes plans for 500 MW of battery energy storage to enhance grid flexibility.</li> <li>Masdar raised $1 billion through green bond issuances in September 2024, attracting strong investor interest amid its ongoing projects and growth in Europe’s renewable energy sector.</li> </ul> <p>Masdar, a key renewable energy company, increases its footprint in Europe. Owned by <a href="https://energynews.pro/en/masdar-strengthens-its-position-in-iberia-with-major-renewable-energy-acquisitions/">ADNOC</a>, Mubadala Investment Company, and TAQA, Masdar recently acquired the Spanish firm Saeta Yield from Brookfield Renewable for $1.4 billion. This deal includes 745 megawatts (MW) of operational wind and solar assets in Spain and Portugal and a 1.6 gigawatt (GW) development pipeline set for completion by 2030.</p> <p>In addition to this acquisition, Masdar secured a 49.99% stake in a 2 GW <a href="https://theelectricityhub.com/?s=solar+capacity">solar capacity</a> portfolio controlled by Endesa, a subsidiary of Italy’s Enel. Valued at €817 million, this investment also covers the development of 500 MW of battery energy storage systems. These systems aim to enhance grid flexibility in the Iberian electricity market.</p> <p>Masdar’s strategy focuses on becoming a significant player in Europe’s <a href="https://theelectricityhub.com/?s=energy+transition">energy transition</a>. The company targets established projects and seeks partnerships with industry leaders like Iberdrola, which fosters the development of more solar and wind farms. Masdar enjoys solid financial support from Emirati stakeholders, allowing it to invest in mature and new projects.</p> <p>Local players face rising financing costs and are more willing to divest minority stakes in their renewable portfolios. This trend enables institutional investors like Masdar to acquire high-yield assets while supporting Europe’s <a href="https://theelectricityhub.com/?s=decarbonisation+goals">decarbonisation goals</a>. Notably, these investments do not significantly burden Masdar’s balance sheet.</p> <p>Masdar’s ambitions reach beyond the Iberian Peninsula. The company agreed with GEK TERNA in Greece to acquire 67% of TERNA ENERGY SA’s shares. This renewable energy developer boasts a 6 GW portfolio across Europe. This acquisition aligns with Masdar’s strategy to diversify its geographic presence and reduce risks associated with regulatory changes in specific markets.</p> <p>Masdar actively executes large-scale projects, such as the Almenara solar park, which has a capacity of 1.2 GW, and the Baltic Eagle <a href="https://theelectricityhub.com/?s=offshore+wind+farm">offshore wind farm</a>, which will provide 476 MW in Germany. However, the company encounters challenges, including rising interest rates and supply chain pressures, which could delay some planned developments.</p> <p>In Spain, Masdar leverages local partnerships to expedite capacity deployment. Its collaboration with Endesa includes a Memorandum of Understanding (MoU) to develop additional projects. This agreement could raise the total capacity in Iberia to over 5 GW in the coming years. The company also pursues vertical integration by developing <a href="https://theelectricityhub.com/?s=battery+storage+solutions">battery storage solutions</a>, enhancing the appeal of its projects to local and European regulators.</p> <p>Masdar relies on diversified financing strategies, including recent green bond issuances that raised $1 billion in September 2024. This approach demonstrates Masdar’s ability to mobilise capital while maintaining strict financial discipline. The strong demand for these bonds, with an order book peaking at $4.6 billion, highlights investor interest in high-quality renewable assets amid the ongoing global energy transition.</p> <p>In summary, Masdar’s strategic acquisitions and partnerships position it as a significant player in Europe’s renewable energy landscape. With ongoing projects and diversified financing, the company stands well-equipped to navigate challenges and capitalise on growth opportunities in the <a href="https://theelectricityhub.com/?s=energy+sector">energy sector</a>.</p> <p>The post <a href="https://theelectricityhub.com/masdar-accelerates-european-renewable-energy-expansion/">Masdar Accelerates European Renewable Energy Expansion</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/masdar-accelerates-european-renewable-energy-expansion/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>SSE Renewables and Equinor Push Forward on Dogger Bank D</title> <link>https://theelectricityhub.com/sse-renewables-and-equinor-push-forward-on-dogger-bank-d/</link> <comments>https://theelectricityhub.com/sse-renewables-and-equinor-push-forward-on-dogger-bank-d/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Mon, 01 Jul 2024 09:05:15 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[future energy]]></category> <category><![CDATA[Norway]]></category> <category><![CDATA[Offshore Wind]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[United Kingdom]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=89253</guid> <description><![CDATA[<p>SSE Renewables and Norway’s Equinor are advancing their Dogger Bank D project, the fourth phase of what aims to become the world’s largest offshore wind complex. They submitted a detailed… </p> <p>The post <a href="https://theelectricityhub.com/sse-renewables-and-equinor-push-forward-on-dogger-bank-d/">SSE Renewables and Equinor Push Forward on Dogger Bank D</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">SSE Renewables and Equinor submit a scoping report for Dogger Bank D, marking the fourth phase of the world’s largest offshore wind farm.</li> <li class="">Dogger Bank D will add up to 2 GW of capacity and connect to the new Birkhill Wood substation, 210 km off the northeast coast of England.</li> <li class="">Further public consultations for Dogger Bank D will occur in autumn, with ongoing collaboration involving the Crown Estate.</li> </ul> <p class=""><a href="https://renewablesnow.com/news/sse-equinor-file-scoping-report-for-dogger-bank-d-offshore-project-861930/">SSE Renewables</a> and Norway’s Equinor are advancing their Dogger Bank D project, the fourth phase of what aims to become the world’s largest <a href="https://theelectricityhub.com/?s=offshore+wind">offshore wind</a> complex. They submitted a detailed scoping report for this phase to the UK’s Planning Inspectorate, including a request for an Environmental Impact Assessment (EIA) scoping opinion. </p> <p class="">This opinion will determine the environmental topics for evaluation, ensuring comprehensive analysis and compliance. Dogger Bank D will connect to a new 400-kV substation at Birkhill Wood in the East Riding of Yorkshire, adding up to 2 GW to the Dogger Bank complex’s overall capacity. </p> <p class="">This phase expands the project site, positioned about 210 km off the northeast coast of England, furthering the development of the offshore wind complex. SSE Renewables and Equinor own and operate Dogger Bank D through a 50/50 joint venture. </p> <p class="">They are collaborating with the Crown Estate, which manages the seabed in England, Wales, and Northern Ireland, to guide the project through its successive stages, which include technical and regulatory preparations. </p> <p class="">In the autumn, Dogger Bank D will enter a new phase of public consultations, allowing stakeholders and the public to offer input and feedback on the project’s progression. Upon full commissioning, the Dogger Bank complex will reach a total capacity of 3.6 GW. </p> <p class="">This expansive project will significantly contribute to <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> targets and the UK’s energy strategy. Construction activities on Dogger Bank phase A, B, and C are ongoing. </p> <p class="">These earlier phases are paving the way for the development of Dogger Bank D, which will further enhance the offshore wind farm’s overall capacity and efficiency. SSE Renewables and Equinor’s commitment to advancing large-scale renewable energy solutions drives their ongoing efforts to construct and expand the Dogger Bank complex. </p> <p class="">Their work reflects broader industry trends towards increasing offshore wind capacity to meet <a href="https://theelectricityhub.com/?s=future+energy">future energy</a> demands sustainably.</p> <p>The post <a href="https://theelectricityhub.com/sse-renewables-and-equinor-push-forward-on-dogger-bank-d/">SSE Renewables and Equinor Push Forward on Dogger Bank D</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/sse-renewables-and-equinor-push-forward-on-dogger-bank-d/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Renewables Power 30 per cent of Global Electricity in 2023</title> <link>https://theelectricityhub.com/renewables-power-30-per-cent-of-global-electricity-in-2023/</link> <comments>https://theelectricityhub.com/renewables-power-30-per-cent-of-global-electricity-in-2023/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Thu, 09 May 2024 07:52:05 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Climate Change]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Global Electricity]]></category> <category><![CDATA[global fossil]]></category> <category><![CDATA[power sector]]></category> <category><![CDATA[renewables]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=87539</guid> <description><![CDATA[<p>A recent Ember report reveals that renewables supplied over 30 per cent of global electricity in 2023, up from 19 per cent in 2000. Solar and wind soared to 13.4… </p> <p>The post <a href="https://theelectricityhub.com/renewables-power-30-per-cent-of-global-electricity-in-2023/">Renewables Power 30 per cent of Global Electricity in 2023</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Renewables supplied over 30 per cent of global electricity in 2023, up from 19 per cent in 2000.</li> <li class="">Solar and wind power accounted for a record 13.4 per cent of global electricity in 2023, up from 0.2 per cent in 2000.</li> </ul> <p class="">A recent Ember report reveals that renewables supplied over 30 per cent of <a href="https://renewablesnow.com/news/solar-and-wind-drive-renewables-past-30-of-global-power-ember-857094/">global </a>electricity in 2023, up from 19 per cent in 2000. Solar and wind soared to 13.4 per cent in 2023 from just 0.2 per cent in 2000. </p> <p class="">Low-carbon sources, including nuclear, accounted for nearly 40 per cent of global electricity. Power generation’s CO2 intensity hit a new low, but due to the decline in hydropower, coal use increased global power sector emissions by 1 per cent.</p> <p class="">Global electricity demand increased by 2.2 per cent in 2023, totalling 627 TWh. Projections for 2024 anticipate a demand growth of 968 TWh, while clean generation is expected to reach 1,300 TWh. This will result in a 2 per cent decline in <a href="https://theelectricityhub.com/?s=global+fossil">global fossil</a> generation, equivalent to 333 TWh.</p> <p class="">Dave Jones, Global Insights Programme Director at Ember, declared, <em>“The renewables future has arrived. Solar is accelerating faster than expected.”</em> According to Jones, the year 2023 was a pivotal moment, potentially marking peak emissions in the power sector—a significant turning point in energy history. However, the pace of emission reductions relies on continuing the renewables revolution.</p> <p>The post <a href="https://theelectricityhub.com/renewables-power-30-per-cent-of-global-electricity-in-2023/">Renewables Power 30 per cent of Global Electricity in 2023</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/renewables-power-30-per-cent-of-global-electricity-in-2023/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Daystar Power and RMI Unveil Solar Business Model Targeting $6.5 Billion Investments for Nigerian Businesses</title> <link>https://theelectricityhub.com/daystar-power-rmi-unveil-solar-model-for-ci-customers/</link> <comments>https://theelectricityhub.com/daystar-power-rmi-unveil-solar-model-for-ci-customers/#respond</comments> <dc:creator><![CDATA[Omono Okonkwo]]></dc:creator> <pubDate>Tue, 12 Mar 2024 15:04:07 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Distribution]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Press Release]]></category> <category><![CDATA[Prospects & Challenge]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Watt Page]]></category> <category><![CDATA[West Africa]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[Daystar Power]]></category> <category><![CDATA[Nigeria]]></category> <category><![CDATA[renewables]]></category> <category><![CDATA[RMI]]></category> <category><![CDATA[Solar]]></category> <category><![CDATA[Solar Energy]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=85930</guid> <description><![CDATA[<p>In a March 12 press release, Daystar Power and Rocky Mountain Institute (RMI) released a U.S. Trade and Development Agency (USTDA)-funded feasibility study titled, “Scaling Utility-Enabled Distributed Energy Resources for Nigerian… </p> <p>The post <a href="https://theelectricityhub.com/daystar-power-rmi-unveil-solar-model-for-ci-customers/">Daystar Power and RMI Unveil Solar Business Model Targeting $6.5 Billion Investments for Nigerian Businesses</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Daystar Power and RMI have unveiled a groundbreaking business model aiming to unlock 3.3 GW of solar capacity and attract $6.5 billion in investments, offering substantial cost savings for 170,000 Nigerian corporations by transitioning from diesel-fired generators to utility-enabled solar systems with backup battery storage.</li> <li class="">Based on a tripartite agreement, the model highlights benefits for businesses and electricity distribution companies, addressing challenges in unreliable grid services and rising diesel prices while aiming to deepen Nigeria’s solar industry and promote clean energy implementation.</li> </ul> <p class="">In a March 12 press release, Daystar Power and Rocky Mountain Institute (RMI) released a U.S. Trade and Development Agency (USTDA)-funded feasibility study titled, <em>“Scaling Utility-Enabled Distributed Energy Resources for Nigerian Commercial & Industrial (C&I) Customers”</em>. </p> <p class="">The report introduces a groundbreaking business model designed for grid-connected hybrid solar power systems, with projections indicating the potential to unlock 3.3GW of solar capacity and attract $6.5 billion in investments. This study targets 170,000 corporations and industrial manufacturers in Nigeria, offering them substantial cost savings by transitioning from diesel-fired generators to utility-enabled solar systems with backup battery storage.</p> <p class="">This research emphasizes the great benefits of the new model, not just for businesses using electricity but also for electricity distribution companies (DisCos). <a href="https://www.daystar-power.com/news-post/new-solar-grid-hybrid-power-system-to-unlock-3-3gw-solar-potential-propelling-nigerian-businesses-towards-6-5-billion-investment-boom">Businesses</a> can reduce energy expenses when they adopt solar systems with utility support. At the same time, DisCos can boost its earnings by improving grid usage and connecting new customers to the grid. </p> <p class="">Many commercial and industrial (C&I) customers grapple with unreliable grid services, often experiencing blackouts resulting from transmission and distribution network failures. In light of these challenges, a significant number of customers rely on diesel-fired generators as both their primary and backup power sources, incurring energy costs that are three times higher than standard grid tariffs.</p> <p class=""><strong>The reason behind the business model</strong></p> <p class="">Over the past two years, diesel prices in Nigeria have witnessed a substantial increase, escalating from 260 Naira per litre in 2021 to over 800 Naira per litre in Lagos and 850 Naira per litre in Abuja as of the study conducted in 2023. </p> <p class="">In an effort to address these issues, Daystar, through a tripartite agreement, will facilitate the financing of upfront grid infrastructure upgrades by deducting payments from Distribution Companies (DisCos).</p> <p class=""><em>“While Nigeria’s solar industry is taking off, it’s still relatively in its early days, and innovative studies like this are key to deepening the market and adding more value to the business community. We can provide even more affordable and reliable power to Nigerian businesses if we team up with distribution companies in close partnerships to solve challenges and eliminate uncertainties in the power value chain,” </em>said Victor Ezenwoko, Daystar Power’s country Head of Nigeria and Ghana. </p> <p class=""><em>”RMI is very proud to have de-risked a pipeline of projects at 20+ C&I customer sites and facilitated the contract signing of the first project in Nigeria. The business model exemplifies that unlocking sustainable grids and scaling distributed energy systems can go hand in hand and create win-win-win scenarios for customers, developers, and DisCos. It’s time for radical clean energy implementation, and we hope the project will lead to scaling distributed energy resources (DERs) in Nigeria to help improve reliability and reduce reliance on expensive, polluting fuels,” </em>said Suleiman Babamanu, RMI, Nigeria Program Director.</p> <p class=""><strong>How it works</strong></p> <p class="">The business model is based on a tripartite agreement between the customer, Daystar, and DisCo. Daystar installs and operates a fully-financed hybrid solar system for Nigerian businesses to provide power during peak hours (9 a.m. to 3 p.m.). Meanwhile, the DisCos will extend hours of grid power to supply electricity to customers in the evening, night, and early morning hours (3 p.m. to 9 a.m.). Backup batteries and generators mitigate against any grid outages and outperform generator-only backup systems in cost savings and reliability.</p> <p class=""><strong>A historical view</strong></p> <p class="">In 2023, Daystar and RMI collaborated on Nigeria’s inaugural feasibility study to create personalized hybrid solar power systems linked to the national grid. The study involved 20 commercial and industrial (C&I) customers in Abuja and Lagos in collaboration with Abuja Electricity Distribution Company (AEDC), Eko Electricity Distribution Company (EKEDC), and Ikeja Electric (IE). </p> <p class="">Results showed that 17 out of 20 customers reduced energy costs, with an average savings of 26%. The project added 27 MW in new solar capacity, offsetting approximately 25,000 metric tons of CO2 emissions. The model also led to a remarkable 1,000% increase in DisCos’ profitability.</p> <p class="">Access the complete Scaling Utility-Enabled Distributed Energy Resources for Nigerian Commercial & Industrial (C&I) Customers study <a href="https://www.dropbox.com/scl/fi/kndzyx780lsjrm8kp1ijj/Daystar-RMI-Scaling-Utility-Enabled-Distributed-Energy-Resources-for-Nigerian-Final.pdf?rlkey=k3c4fiof46qt4a6y1p3m1qee7&dl=0" target="_blank" rel="noreferrer noopener">here</a>.</p> <p>The post <a href="https://theelectricityhub.com/daystar-power-rmi-unveil-solar-model-for-ci-customers/">Daystar Power and RMI Unveil Solar Business Model Targeting $6.5 Billion Investments for Nigerian Businesses</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/daystar-power-rmi-unveil-solar-model-for-ci-customers/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel> </rss>