Daily News Wrap-Up_ ADB Approves $600 Million Loan to Indonesia for Renewables

Here are some noteworthy cleantech announcements of the day from around the world:

Royal DSM announced the launch of the all-purpose Endurance Backsheet D15. The newly launched Endurance Backsheet protects a wide range of solar modules at an ideal performance-cost ratio. The backsheet is fluorine-free, recyclable, and has a 30% lower carbon footprint than traditional equivalents.

Canadian Solar announced that it signed a power purchase agreement with BTG Pactual. The company was also awarded two solar projects in a private auction by Furnas Centrais Eletricas (Furnas). For the 12-year PPA with BTG, the company will supply solar energy from a 170 MW cluster of projects located in Minas Gerais, Brazil. Besides that, Furnas will purchase two Canadian Solar projects through a 15-year PPA. Canadian Solar will develop both solar projects with a total capacity of 692 MW. The 260 MW solar project will be located in the state of Ceara, Brazil. Another solar project with 432 MW of capacity will be located in Piaui, Brazil.

The Asian Development Bank (ADB) has approved a $600 million loan to help the State Electricity Corporation (PLN), Indonesia’s state-owned power company, expand electricity access and promote renewable energy in eastern Indonesia. The program also includes two grants, at $3 million each, from the Japan Fund for Poverty Reduction and the Asia Clean Energy. The second phase of the Sustainable Energy Access in Eastern-Indonesia Electricity Grid Development Program supports PLN’s efforts to expand electricity access and improve service reliability in nine provinces in the outer regions of Kalimantan, Maluku, and Papua in eastern Indonesia.

RWE, a global renewable energy company, has signed an agreement with Greencoat to sell a 49% stake in the U.K. offshore wind farm Humber Gateway for a total cash consideration payable at completion, being £648 million (~$ 863.62 million). The disposal is part of RWE’s capital rotating program, and the proceeds will be utilized to finance further growth in the renewable energy business. With a 51% share in the project, RWE will remain the majority shareholder in the project, and the wind farm will continue to be operated by RWE.

International Finance Corporation (IFC) and the Agricultural Bank of Egypt (ABE) have joined hands to help Egyptian farmers access financing to purchase solar irrigation systems. Through this partnership, IFC will help ABE build capacity and design new financial products to enable Egyptian farmers, most of whom lack direct access to grid electricity, purchase and install solar irrigation pumps. Using solar power for water pumping could save farmers an estimated 14 billion Egyptian pounds (~$ 875 million) annually in diesel fuel costs while reducing greenhouse gas emissions.

Savion LLC, a U.S.-based solar projects developer, said that Dominion Energy Virginia had signed a power purchase agreement to receive 75 MW of renewable solar power with Wythe County solar project. The project is located in Wythe  County in southwest Virginia, United States. The project is expected to begin construction in mid-2021, with commercial operation targeted to commence by the end of 2022.

SMA has closed a contract with Sterling and Wilson for the 162 MW Columboola Solar Facility, located in Queensland, Australia. The company will provide the SMA solution comprising 79 central inverters integrated into 39 medium voltage power stations and an SMA Power Facility Controller to control the solar facility’s electricity flows. The company will begin the delivery of SMA inverters in April 2021. The project is due to start generating electricity in August 2021. The 162 MW project is expected to create 400 jobs and can power up to 100,000 homes.

Orsted has signed a 15-year trading agreement with Dogger Bank wind farm under which the company will be responsible for trading and balancing of 40% of the power generated from the first two phases of the 3.6 GW wind farm. Orsted will trade and balance 940 MW of renewable energy from the 2.4 GW of installed capacity at Dogger Bank Wind Farm A and B on the power market on a day-ahead basis and will handle the intra-day fluctuations in volumes and prices, balancing the power into the grid.

Here is our previous daily news wrap-up.