Daily News Wrap-Up: German Energy Company RWE to Invest €50 Billion in Renewables by 2030
Architecture school in Andhra Pradesh unveils 120 kW rooftop solar project
November 18, 2021
Here are some noteworthy cleantech announcements of the day from around the world:
German energy company RWE plans to spend €50 billion ($57.22 billion) by the end of the decade to double its net green energy generation capacity to 50 GW. Under the ‘Growing Green’ strategy, RWE aims to add an average of 2.5 GW of renewable energy annually, focusing on Europe, North America, and Asia-Pacific. Until now, the target for annual capacity additions was 1.5 GW. The expansion drive will require €5 billion (~$5.66 billion) in annual investments in offshore and onshore wind, solar, batteries, flexible generation, and hydrogen. RWE’s onshore wind and solar capacity is projected to grow to 20 GW by 2030 from 7 GW, and the focus will be on Europe and North America. Solar plays a leading role in the strategy, with the installed capacity to grow to 8 GW from 1 GW. By the end of the decade, the company aims to triple its offshore wind capacity to 8 GW from 2.4 GW in Europe, North America, and Asia and reach 2 GW of electrolyzer capacity for green hydrogen production.
The School of Planning and Architecture (SPA), Vijayawada, Andhra Pradesh, inaugurated a 120 kW rooftop project developed by Amp Energy. The project has been developed under the rooftop program by the Solar Energy Corporation of India (SECI) for government entities. SPA and Amp Energy India have signed a power purchase agreement to procure solar power for 25 years. This solar plant will generate about 168,000 units per year, catering to around 50% of the school’s energy consumption. The project will help SPA save 18% to 20% on their electricity bill every year. The project will help mitigate about 600 tons of CO2 per annum.
Fortescue Future Industries (FFI) announced it has secured planning approval for its recently-unveiled plan to build a manufacturing hub with an up to 2 GW electrolyzer factory in Queensland, Australia. The first global green energy center will involve the production of wind turbines, long-range electric cabling, solar photovoltaic cells, electrolyzers, and related infrastructure. The ambitious project will be realized in six stages at an overall cost exceeding A$1 billion (~$730 million). FFI will make an initial investment of up to A$114 million (~$83.04 million) in the electrolyzer factory. It will be installed on land developed by the Queensland government at Aldoga within the Gladstone State Development Area. The first electrolyzers will be produced in early 2023.
Greenbriar Capital will build 90 MW of solar parks in Alberta to provide West Lake Energy Corp as part of a broader project framework for 400 MW of capacity. The companies have signed an agreement to build, own and operate the photovoltaic parks, starting with a 30-MW plant. West Lake will procure the electricity from the first 30 MW portion with the option to buy the output of the project’s second stage that will add the remaining 60 MW. The company estimates the capital expenditure needed for the 90 MW initiative will stand between C$105 million (~$83.70 million) and C$120 million (~$95.46 million). Construction firm Nu-E Corp has been hired to build the plants.