Here are some noteworthy cleantech announcement of the day from around the world:
Trafigura Group has formed a new company to invest in a series of solar, wind, and power storage projects globally. The new company, Nala Renewables, has plans to develop a renewable energy portfolio with a total capacity of around 2 GW of operating or under construction projects within the next five years. The new company is a Trafigura Group’s joint venture with IFM Investors.
UPC Renewables said that it had appointed the lead contractor for the 400 MW first stage of the New England solar and battery project. The construction of the first stage of the solar project is expected to begin in 2021. The New England project is being developed by UPC/AC Renewables Australia near Uralla in the new New England region of NSW. The 400 MW first stage of the project with a 33/330 kV substation will be installed by Elecnor. The new company will build and operate renewable energy projects in Europe, Asia, and certain emerging markets.
MetLife Corporation has committed to reducing its location-based greenhouse gas emission by 30% from 2019 levels by 2030. The company also has plans to originate $20 billion in new MetLife Investment Management-managed green investments and allocate $5 million to develop products and partnerships that drive climate solutions. The company has also committed to planting 5 million trees to maintain carbon neutrality annually across its global offices, fleet, and business travel. In addition, the company pledged to mobilize 100 of its suppliers to set their own greenhouse gas emissions reduction target by 2025.
The Asian Development Bank (ADB) has approved a $200 million policy-based loan to enhance Uzbekistan’s power sector by improving its financial sustainability and ensuring adequate investment in critical infrastructure. ADB’s program supports the power sector reforms intending to increase private sector participation in power generation to at least 15% in capacity terms and improving revenue collection by 99% by 2023. The initiatives will help reboot the economy and bring new job opportunities as the country recovers from the COVID-19 pandemic. The program was jointly developed with the Agence Française de Developpement, which will provide co-financing of a €150 million (~$ 169 million) loan.
Tamil Nadu Transmission Corporation Limited (TANTRANSCO) has appointed Enzen to provide artificial intelligence-driven smart grid solutions for renewable energy projects in Tamil Nadu. Enzen, in partnership with Smarter Grid Solutions, will provide real-time autonomous renewable energy generation control that will maximize the potential of wind and solar energy resources available in Tamil Nadu.
The World Bank has approved $450 million in financing to support Pakistan’s transition to renewable energy resources that reduce its reliance on fossil fuel imports and lower costs of electricity production. The Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Project will help shift the national energy mix to clean domestic resources by investing in renewable energy generation, including hydropower and solar in Khyber Pakhtunkhwa province. The project will provide affordable low-carbon electricity and will support the economic development of those communities near the hydropower and solar projects.
ReneSola Power and Vodasun have entered into a strategic partnership agreement to co-develop and market ready-to-build ground-mounted solar projects in Germany. As a part of the agreement, both companies will create a 50-50 joint venture company with a starting project portfolio of 50 to 100 MW. The joint venture intends to develop these projects and develop an additional 50 to 100 MW of new projects annually.
Aramco and the Institute of Energy Economics, Japan, in partnership with SABIC, have successfully demonstrated the production and shipment of blue ammonia from Saudi Arabia to Japan with support from the Japan Ministry of Economy, Trade, and Industry. The company already dispatched 40 tons of blue ammonia to Japan for use in zero-carbon power generation. The Saudi-Japan blue ammonia supply network demonstration spanned the full value chain, including converting hydrocarbons to hydrogen and then to ammonia, and the capture of associated carbon dioxide emissions.
The Association of Renewable Energy Agencies for States has invited proposals for innovationve decentralized renewable energy (DRE) solutions for rural livelihood applications from innovators, technology developers, manufacturers that have developed innovative DRE solutions for different rural livelihood applications. The last day for submission of proposals is October 19, 2020. The proposal should include a brief technical description of the DRE solution, company details, costing, among other criteria.
Tenaga Nasional Berhad, through its renewable energy retail arm GSPARX Sdn Bhd, has signed an agreement with Malaysia Airlines Berhad (MAB) to install solar panels on four MAB’s buildings at Kuala Lumpur International Airport. Under the solar supply agreement, MAB is expected to save almost 15 million Malaysian Ringgit (~$ 3.59 million) in electricity bills throughout a 21-year period. The green energy generated from the project is expected to offset around 56,638 metric tons of emissions until 2050.
ArcVera Renewables has announced its plans to enter into India’s renewable energy market. The company assembled a team of international experts comprising atmospheric scientists, engineers, and data analysts to deliver technical expertise to project developers, lenders, and investors in India, Southeast Asia, and Pacific Rim countries. The company’s services cover the full project life cycle, including finance-grade resource assessments, project design, technology assessments, financing, construction, operations, and repowering.
Here is our previous daily news wrap-up.
Image credit: hpgruesen / CC0
Harsh is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.