Here are some noteworthy cleantech announcements of the day from around the world:
Solar developer Lightsource bp has secured its first projects in Poland through a 757 MW co-development deal. The portfolio of nine projects in the regions of Zachodnio-Pomorskie, Lubuskie, Dolnoslaskie and Wielkopolskie. The solar company said it has closely evaluated the portfolio, providing valuable insight into the potential of the projects and the Polish solar market. Lightsource bp plans to sell the power on the open market and said it is seeking large corporations to contract via long-term power purchase agreements. These projects will also participate in future rounds of Poland’s renewable energy auctions. The portfolio of nine projects in the regions of Zachodnio-pomorskie, Lubuskie, Dolnośląskie, and Wielkopolskie will be developed with an experienced, local renewable energy firm.
Energy storage and clean fuel company ITM Power has secured £250 million (~$345.54 million) through an accelerated bookbuild. The company intends to scale up its electrolyzer manufacturing capacity to 5 GW by 2024. The company closed an oversubscribed placing of about 57.5 million new shares via an accelerated bookbuild for £4 (~$5.53) apiece. The total gross proceeds from the Capital Raise will be approximately £250 million (~$345.54 million). The new shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing issued Ordinary Shares. The new shares represent approximately 11.4% of the company’s existing ordinary share capital before the capital raise.
Global solar technology company LONGi has announced an ambitious pledge to convert its Baoshan production base in Yunnan Province into a net-zero plant by 2023. In 2020, LONGi joined RE100, EV100, EP100, and Scientific Carbon Target (SBTi). The announcement was made at the UN Biodiversity Conference (COP15) in Kunming, China, and delivery on the pledge will see the beginning of “Net-zero LONGi” and a test field for the company’s “Solar for Solar” sustainable development concept. Yunnan is the province with the most abundant green energy in China. Installed capacity accounts for 85%, with power generation from green energy reaching 90%, laying a solid foundation for building a net-zero plant.
Electric utility company EDP to invest up to £13 billion (~$15.16 billion) in the UK’s energy transition with plans by 2030. Around £660 million (~$769.41) will be invested by entering the UK onshore market via a 544 MW of onshore wind and solar energy portfolio. Investment of £2.65 billion (~$3.09 billion) secured in the offshore projects of Ocean Winds’ assets of Moray East and Moray West and plans for an additional investment of £2.2 billion (~$2.56 billion) in Moray West over the next 3 to 4 years. Minimum target of 3.9 GW in the Scotwind leasing round, equal to a capex of up to £10 billion (~$11.66 billion).
Arjun Joshi is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. More articles from Arjun Joshi.