Project Finance Brief: Duke Energy Subsidiary Acquires 100 MW Mississippi Solar Project

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

The Western Railways of India announced that it installed 6.6 MW of solar power projects across 97 railway stations and 3.92 MW of solar power projects at 46 railway office buildings. The installations were done under the Energy Saving and Environment Conservation initiative. The projects generated 7.55 GWh of green energy through the financial year (FY) 2021-22, resulting in savings of ₹30 million (~$367,490) on energy bills. The cumulative savings for FY 2022-23 were recorded at ₹21.5 million (~$263,370), including the savings of ₹3.02 million (~$36,994) in October 2022 alone. In Mumbai Central Division of Western Railway, where 3.62 GWh was generated in the year 2021 -22, it resulted in savings of ₹14.9 million (~$182,518), and in the current year, 2.53 GWh were generated up to October 2022, resulting in savings of ₹11.1 million (~$135,970).

TotalEnergies ENEOS and Yanmar Engine Manufacturing India (YEMI), the Indian subsidiary of Yanmar Group, a Japanese diesel engine manufacturer, announced the completion of a 1 MW rooftop solar photovoltaic project in Chennai, Tamil Nadu. This system will power about 30% of its industrial engine production facility with green power in India. The project, comprising 2,200 modules, is expected to generate approximately 1.5 GWh of renewable electricity annually and help the company reduce its carbon footprint by about 1,200 tons of CO2 emissions. Under the agreement, TotalEnergies ENEOS financed and installed the project and will also operate the project, while YEMI does not incur any upfront costs and pays only for the electricity generated.

The Biden-Harris administration, through the U.S. Department of Energy, announced $74 million in funding from President Biden’s Infrastructure Law for ten projects to advance technologies and processes for electric vehicle (EV) battery recycling and reuse. Projects funded by the announcement will lead to second-use scale-up demonstrations that integrate end-of-life EV batteries into secondary applications. This would include stationary energy storage systems and projects focusing on advanced materials separation, scale-up, and reintegration of lithium-ion battery materials. The latest round of funding supports the recycling and reuse segment of the domestic battery supply chain, which will help accelerate battery production in America, mitigate battery supply chain disruptions and create good-paying jobs. The department projects the demand for critical EV battery materials such as lithium and graphite to increase by as much as 4,000% in the coming decades.


The Brisbane Airport Corporate (BAC) and Stanwell Corporation, a state-owned energy company, signed an agreement to power all of BAC’s operations with 100% renewable energy. Stanwell will supply up to 185 GWh of renewable energy each year to enable all of BAC’s operations to run on energy that is linked to Stanwell’s renewable energy projects, from the runway lights to the terminals, travellators, escalators, retail shops, administration, IT and electric vehicles refuellers. The partnership with Brisbane Airport Corporation will be linked to renewable energy from the Clarke Creek Wind Farm and Blue Grass Solar projects. In another agreement, Stanwell agreed to power Anglo American’s steelmaking coal business in Australia with 100% renewable energy by 2025 as a part of a ten-year deal. The clean energy would power five steelmaking coal operations across Central Queensland’s Bowen Basin and power all electrical equipment at their mines in Moranbah, Middlemount, and Moura, including draglines, longwall equipment, conveyors, coal preparation facilities, lighting and ventilation and cooling infrastructure, water treatment plant and administration facilities. The partnership with Anglo American Steelmaking Coal will also be linked to renewable energy from the Clarke Creek Wind Farm and Blue Grass Solar projects.