Daily News Wrap-Up_ CERC and FERC Sign MoU to Work Together in the Electricity Sector

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

The Union Cabinet has given its approval to the Central Electricity Regulatory Commission’s proposal for entering into a Memorandum of Understanding between Central Electricity Regulatory Commission (CERC), India and Federal Energy Regulatory Commission (FERC), United States of America for exchange of information and experiences in areas of mutual interest to both in the electricity sectors. The MoU is expected to improve the regulatory and policy framework for developing an efficient wholesale power market and enhancing grid reliability.

Vena Energy announced the ground-breaking of the Amateras Shiroishi Solar Project. With an installed capacity of 162 MW, the Amateras Shiroishi Solar Project will be one of the largest renewable energy projects in northern Japan. Vena Energy acquired Amateras Solar GK, the developer of the Amateras Shiroishi Solar Project, from X-ELIO, a worldwide leader in photovoltaic energy development, further expanding Vena Energy’s construction portfolio to 17 projects totaling 604 MW across Japan.

Azelio won the first commercial order for its long-duration energy storage from ALEC Energy. The storage unit will be part of a system in the fourth phase of one of the world’s largest solar parks, the Mohammed Bin Rashid Al Maktoum Solar Complex in Dubai. The MBR Solar Complex is spread over a total area of 77 square kilometers in Dubai. Noor Energy 1, a company owned by Dubai Electricity & Water Authority (DEWA), ACWA Power and Silk Road Fund, is currently developing 950 MW of solar energy technology (phase IV) in the solar park. By 2030, the capacity in the MBR Solar Complex is planned to amount to 5,000 MW.


ZeroAvia focused on hydrogen-electric aviation solutions, announced $21.4 million in new funding in a Series A round. Breakthrough Energy Ventures and Ecosystem Integrity Fund led the raise, with follow-on investors Amazon Climate Pledge FundHorizons Ventures, Shell Ventures, and Summa Equity. The company also established a partnership with British Airways and received approval for new UK government funding through the ATI Programme to deliver an additional $16.3 million of non-dilutive funding breakthrough 19-seat hydrogen-electric powered aircraft that is market-ready by 2023. The new announcement brings the total new funding to $37.7 million and the total funding since inception to $49.7 million.

GE Renewable Energy and BE Power have signed an agreement to co-develop the 400 MW Big-T (Cressbrook) pumped hydro storage project in Toowoomba, Australia. Under the agreement, GE Renewable Energy’s Hydro Solutions business will work alongside BE Power and their partners to optimize and finalize the design and help the project secure financing and reach commercial operations. When generating, the project will provide power equivalent to the demand of roughly 200,000 typical Queensland households; when pumping, it will provide long-duration, high capacity storage to absorb excess wind and solar output.

According to a recent report by the U.S. Energy Information Administration (EIA), in 2019, the average monthly electricity bill for residential customers in the United States was 1.8% lower than it had been in 2018, down from $118 to $115 per month. Although the average U.S. residential electricity price rose from 12.87 cents/kWh in 2018 to 13.01 cents/kWh in 2019, less-than-average monthly electricity consumption per customer resulted in a lower average bill in 2019. The EIA calculates an average monthly bill by dividing annual residential revenues by the number of customer accounts and 12 months.

Here is our previous day’s news wrap-up.