Here are some noteworthy cleantech announcements of the day from around the world:
Adani Group and South Korean steel major POSCO will explore business cooperation opportunities, including establishing a green, environment-friendly integrated steel mill at Mundra. The investment is estimated to be up to $5 billion. The non-binding memorandum of understanding signed between POSCO and Adani intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements. POSCO and Adani intend to utilize renewable energy resources and green hydrogen in line with their environmental, social, and governance (ESG) commitments to sustainability and energy efficiency.
UAE-based Al Nowais Investments said it would invest $1 billion in two renewable energy projects in Egypt via its energy company AMEA Power. The first project consists of a solar plant in Southern Egypt, and the second consists of a wind farm on the Red Sea. The projects have a capacity of 500 MW each and are expected to be commissioned within three years. The company is in discussions with the Egyptian government regarding investments to establish desalination projects. Al Nowais is also arranging a consortium, including German, Japanese and Italian companies, to produce green ammonia that could be used as a clean fuel source.
Automaker TVS Motor Company announced a strategic partnership with Swiggy to test the implementation of TVS’s electric 2-wheeler Swiggy’s for food delivery and other on-demand services. The two companies are exploring the co-creation of sustainable and comprehensive solutions for Swiggy’s delivery partners. This will include working on customized packages like a need-specific product, flexible financing options and, connected services. TVS said the pilot would play a vital role in adopting EVs in food delivery and on-demand delivery services. Swiggy has been pioneering the need for greater EV adoption, with a commitment to make deliveries spanning 8,00,000 kilometers per day through EVs by 2025.
Pan-African infrastructure investment platform Africa50 signed a joint development agreement with Power Grid Corporation of India Limited (POWERGRID) to develop the Kenya Transmission Project on a public-private partnership (PPP) basis. POWERGRID will provide technical and operational know-how to the project. Africa50 will bring its project development and finance expertise and act as a bridge between the Kenyan government and private investors. Once completed, the project will be the first independent power transmission in Kenya and set a reference point in Africa as the first financing of transmission lines on a PPP basis. This project will also improve the supply and reliability of power transmission in Western Kenya.
GE Renewable Energy received an order from Continuum Trinethra Renewables to supply, install and commission 37 units of its 2.7-132 onshore wind turbines for the 99.9 MW Rajkot wind farm. The project will leverage GE’s significant local footprint in India with product design primarily at GE’s Technology Center in Bengaluru, blades manufactured in GE’s facility in Vadodara, and assembly at the GE Multi-modal Manufacturing Facility in Pune. The Rajkot wind farm will power various industries and commercial establishments in Gujrat. Last year, GE and Continuum signed an agreement to supply turbines to the 148.5 MW Morjar, Bhuj wind farm in Gujarat, India.
In joint venture partnership with renewable project developer DP Energy, EDF Renewables is expected to generate up to 1 GW of low carbon green energy in the Celtic Sea. Work includes identifying a refined area of search and detailed constraint studies for the project’s proposed location. The project is likely to span English and Welsh waters. The floating offshore wind project called Gwynt Glas will provide power for approximately 927,400 homes.