Renewables Financial News

Another day, another battery deal. Street Talk can reveal Amp Energy, a Canadian renewable energy infrastructure player backed by global investment firm The Carlyle Group, is in the market searching for a buyer for its portfolio of local renewable generation and storage assets.

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Andrew Forrest’s Squadron Energy will spend as much as $20 billion by 2030 to build out its renewable projects, CEO Jason Willoughby said, illustrating the scale of the company’s ambitions.

energy storage is essential to enable the renewables growth Prime Minister Narendra Modi has promised, but so far incentives have been lackluster, according to the head of California-based Energy Vault Holdings Inc. The promising renewables market in India could be stifled by the high cost of power storage, which will become an essential component of the transition away from fossil fuels, Robert Piconi, chief executive officer of the company, said in a interview. Renewable electricity available at any time of the day and night “is sort of a holy grail,” Piconi said.

R K Singh on Monday said India will achieve its 500 GW renewable energy target before the 2030 deadline. Addressing FICCI's India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now. India has 424 GW of power generation capacity which includes around 180 GW from non-fossil fuels and another 88 GW is in the works, the minister said. The country has a target of 500 GW of renewable energy capacity by 2030. «We will achieve 500 GW of renewable energy (RE) well before 2030,» he said. Singh also said India's energy transition programme is at the top in the world.

Countries that don’t emulate the US and provide financial incentives to kick-start renewable energy projects risk missing out on billions of dollars of investment, the global boss of UK-listed engineering group John Wood has warned.

Melbourne-headquartered renewables player Tetris Energy is looking to offload 100 per cent of its 3.4 gigawatts early-stage development platform, telling potential buyers its platform is the kind that would rarely come up for sale in future after the recent year’s deal-making frenzy.

The clean energy arm of Malaysia’s national oil and gas company Petronas intends to use acquisitions, joint ventures and organic growth to build a portfolio of solar, wind and battery storage projects totalling between 5 gigawatts and 8 gigawatts by 2030.

RNEW’s board revealed it had recently approached another investment trust with a merger proposition, but this had been unsuccessful.

renewable energy capacity by 2030 though also offered support to technology that can sustain the use of fossil fuels, easing concerns from Russia and Saudi Arabia that had previously stalled a deal. Members will make a commitment to “pursue and encourage” efforts to meet the target to increase clean energy generation, according to people familiar with the negotiations. The bloc will also call for a similar impetus in the deployment of abatement technologies like carbon capture that can reduce emissions from the use of gas, coal and oil, said some of the people, who asked not to be named as the details aren’t yet public. Even so, the outcome offers some new momentum in the energy transition after global concerns over supply security and costs had begun to erode progress on a shift away from fossil fuels.

London | The need to build huge amounts of extra electricity transmission capacity worldwide is threatening to become a serious bottleneck in many countries’ push towards renewable energy, consultancy firm BCG has warned.

Companies that make up the S&P 500 produce just 3.4% of their revenue from clean-energy sources, which is roughly half what companies on the Shanghai Composite Index earn, according to BloombergNEF. With corporations struggling to make the transition to net-zero emissions, analysts at BNEF looked under the hood of more than 8,000 companies to determine how much of their revenue is attributable to clean energy. “Shifting business models toward greener activities is about more than being virtuous for the sake of the planet,” says BNEF’s Michael Daly. “There’s a huge financial opportunity for companies that help drive the energy transition.”Chinese companies such as solar leaders LONGi Green Energy Technology Co.

The Sunshine State has sprouted another renewables deal. Street Talk understands Energy Development Corporation has been running a sale process for its Bundaberg-based 207-megawatt project Bucca, telling investors to expect nearly $1.2 billion in earnings over a 30-year life.

fuel price shock of 2022 could have been far more severe, potentially overwhelming the ability of many governments to mitigate it with public funds. IRENA’s new report confirms the critical role that cost-competitive renewables play in addressing today’s energy and climate crises by accelerating the transition in line with the 1.5°C warming limit.

renewable energy in India is poised to witness an impressive surge of approximately 35% over the current and upcoming fiscal years, amounting to an estimated ₹13 lakh crore, rating firm Crisil said in a report. This growth trajectory is primarily attributed to a robust execution pace, bolstered by a favourable policy environment, healthy leverage, and heightened investor interest.

rating company Crisil. Road project building is likely to rise to as much as 13,000 kilometres a year, from about 10,000 kilometres, led by the Hybrid Annuity Model (HAM), said Crisil. HAM was implemented in 2016 which reduced the risk of completion of a road project to encourage companies to bid for it. «Investor interest has been encouraging, with Rs 75,000-80,000 crore raised through equity and asset monetisation in the past two fiscals in both sectors,'' said Manish Gupta, senior director and deputy chief ratings officer Crisil. »Continued focus on asset monetisation and equity raising, along with healthy cash flows will keep the capital structure balanced in both sectors." Infrastructure building in India has turned easier with companies managing to find investors to buy into InvITs.

energy system as well as in renewable energy sources to ensure an orderly transition, BP CEO Bernard Looney has said. “We must make sure that the energy transition is both rapid and orderly,” he told the B20 summit. “It needs to be rapid because every year since Paris (climate agreement), the emissions have risen in the world with the exception of the pandemic,” Looney said, adding that if the transition is not orderly, it would “impact the pace of the transition”. Looney cited last year’s natural gas market shock when prices rose 7-fold, forcing people to spend a higher share of their disposable income on energy.

New Delhi: It is not true that India is not reducing coal-based power generation capacity in the energy mix, a senor government official said, adding that the country is targeting over 64 per cent of non-fossil fuel-based capacity by 2030. India has set the target of having 500GW of renewable energy by 2030.

Australia is set to fall well short of its 2030 target for 82 per cent renewable energy, with extra measures needed to move it past 64 per cent, according to research firm Rystad Energy, which expects Origin’s Eraring coal power station to have to run for several years longer to prevent spiking prices.

By Isla Binnie and Andres Gonzalez

Ambitious pan-Asian renewable energy developer Carbon Resilience is seeking to capitalise on the rush to secure early-stage renewable development assets, kicking off a sales process for its 14-gigawatt development portfolio in Queensland.