Daily News Wrap-Up REC India Commits ₹10 Billion for Renewable Projects in MP

Listen to this article

Here are some noteworthy cleantech developments from around the world:

REC India, a central public sector undertaking under the Ministry of Power, signed a memorandum of understanding with Rewa Ultra Mega Solar (RUMSL) to commit to funding ₹10 billion (~$122.6 million) for the development of renewable energy parks and projects, and the associated infrastructure including power evacuation. REC also partnered with the World Bank for a program under which the former committed ₹50 billion (~$613 million) to the state’s distribution companies to carry out reforms.

The New York State Office of Renewable Energy (ORES) issued three siting permits totaling approximately 309 MW of renewable energy capacity to deliver sufficient clean energy to power over 69,000 households in New York for at least two decades. Coupled with the eight previously permitted facilities, the latest siting permits mark the approval of 11 projects, totaling around 1.8 GW of capacity since 2021. The State has approved 20 new renewable energy projects since 2021.

UK-based measurable.energy said it has raised £4.5 million in a series A funding round to further its growth and to eliminate energy waste along with carbon dioxide emissions. The company targets using the funds to remove over 1 million tons of CO2 emissions worldwide until 2033, equal to taking 130,000 cars off the streets for a year. UK-based venture capital fund, Clean Growth Fund led the round, along with existing investor Bonheur ASA, Vectr7 Investment Partners LLP, RO Capital Partners, and MMC Ventures. The company will use the funds for increasing production and sales across the UK and globally. It also plans to enter the residential market.

Southern Current, an energyRE company, signed a power purchase agreement with Dominion Energy South Carolina (DESC) for the Lone Star Solar Plant based in Calhoun County of South Carolina. Once the plant is operational by 2024, the plant will have 107.8 MW of renewable capacity. The project will deploy a 108 MWh battery energy storage system in the facility spread across 572 acres, making Lone Star Solar one of the largest battery storage systems in the region and the largest battery on the DESC network.

India-based EKI Energy, a global developer, and supplier of carbon credits, collaborated with DNV Supply Chain & Product Assurance, a Norway-based independent assurance, and risk management provider, to foster a climate transition ecosystem with innovation and digitalization. EKI will extend advisory services to DNV’s customers and help them achieve carbon neutrality and net zero targets in addition to ESG and sustainability assurance services.

Sydney-based Provaris Energy inked a memorandum of understanding with Norwegian Hydrogen which develops hubs for hydrogen production across the Nordic region, to collaborate on the development of green hydrogen value chain projects. The two companies will use their respective expertise to conduct the technical and economic review for the production and supply of compressed gaseous green H2 to cover the large-scale production and export of hydrogen to key European ports. The pact will create a framework for the firms to jointly undertake concept design aimed at reviewing identified sites and selecting a preferred location for domestic and export volumes of H2.