NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022

NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022

The U.S.-based energy company NextEra Energy reported a net income of $1.52 billion for the fourth quarter (Q4) of 2022, up by 26.41% year-over-year (YoY), driven primarily due to successful ...
Researchers Improve Perovskite Solar Cell's Resistance to Degradation

Researchers Improve Perovskite Solar Cell’s Resistance to Degradation

Researchers at the École Polytechnique fédérale de Lausanne (EPFL) and Sungkyunkwan University in South Korea have identified the cause behind the degradation of perovskite solar cells and developed a technique ...
/ / Solar, Technology
JSW Energy’s Q3 Profit Dips 45% YoY to ₹1.8 Billion

JSW Energy’s Q3 Profit Dips 45% YoY to ₹1.8 Billion

JSW Energy, an independent power producer, posted a 45% year-over-year (YoY) drop in its profit at ₹1.8 billion (~$22.2 million) for the third quarter (Q3) of the financial year 2023, ...
/ / Finance and M&A, Other
OPEC Fund Mobilizes $1 Billion with Sustainable Development Goal Bond

OPEC Fund Mobilizes $1 Billion with Sustainable Development Goal Bond

The OPEC Fund for International Development, a multilateral development finance institution headquartered in Austria, has raised $1 billion in its first-ever benchmark bond issue in global capital markets. The OPEC ...
/ / Other, Renewable Energy
German Chancellor Reaffirms Commitment to Achieve Net Zero by 2045

German Chancellor Reaffirms Commitment to Achieve Net Zero by 2045

Germany’s renewable shift is well on track despite setbacks and has accelerated post the Russian invasion of Ukraine, Chancellor Olaf Scholz said while addressing a session at the 53rd World ...
Cubico Sustainable Investments Acquires 1 GW Solar Project in Brazil

Cubico Sustainable Investments Acquires 1 GW Solar Project in Brazil

Renewable energy company Cubico Sustainable Investments said it has acquired Project Sobral — a 1 GW solar photovoltaic (PV) project in Brazil -- from ZEG Energias Renováveis (ZEG). It is ...
/ / Finance and M&A, Solar
Loom Solar Raises $2 Million from US-Based Asset Manager

Loom Solar Raises $2 Million from US-Based Asset Manager

Haryana-based solar technology startup Loom Solar raised $2 million in funding from the U.S.-based asset manager Social Investment Managers and Advisors (SIMA Funds) to support its growth strategy for solar ...
/ / Finance and M&A, Solar
Daily News Wrap-Up: Amp Energy Signs PPA for 200 MW Hybrid Project with SECI

Daily News Wrap-Up: Amp Energy Signs PPA for 200 MW Hybrid Project with SECI

Here are some noteworthy cleantech developments from around the world Amp Energy India has signed a power purchase agreement (PPA) for a 200 MW wind-solar hybrid project with Solar Energy ...
Norfund to Invest $60 Million in Indian Waste-to-Energy Company SAEL

Norfund to Invest $60 Million in Indian Waste-to-Energy Company SAEL

Norway’s development finance institution Norfund said it will invest about NOK 600 million (~$60.5 million) in the Indian solar and agricultural waste-to-energy company SAEL. The investment will help SAEL support ...
/ / Other, Renewable Energy
Daily News Wrap-Up REC India Commits ₹10 Billion for Renewable Projects in MP

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

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 ...
/ / Other, Renewable Energy
Power Ministry Mulling Shorter PPA Tenure to Help DISCOMs and Power Markets

Power Ministry Mulls Shorter PPA Tenure to Help DISCOMs and Power Markets

The Ministry of Power is considering cutting the tenure of prospective long-term power purchase agreements (PPAs) to 12-15 years from the extant 25 years to provide more flexibility to the ...
/ / Grid, Market & Policy
Here is How Much Businesses are Saving from Installing Solar (1)

Here is How Much Businesses are Saving from Installing Solar

The benefits to businesses from adopting solar are so overwhelming that it defies logic for any entity to be in doubt about it. The saving alone can be as high ...
/ / C&I, Mercom Research Focus, Solar
Significant Developments in India’s Energy Storage Sector in 2022

Significant Developments in India’s Energy Storage Sector in 2022

India’s energy storage sector witnessed significant developments in 2022, which included the government issuing guidelines for the use of batteries as part of the generation, transmission, and distribution assets, the ...
Panel Wants Dedicated Agencies in States to Enforce Efficient Energy Use

Panel Wants Dedicated Agencies in States to Enforce Efficient Energy Use

A parliamentary committee has asked the Ministry of Power (MoP) to ensure that all states set up standalone State Designated Agencies (SDA) to facilitate and enforce the efficient use of ...
/ / Energy Efficiency, Other
Energy Firm Vattenfall to Build a 1.3 GW Offshore Wind Farm in Finland

Energy Firm Vattenfall to Build a 1.3 GW Offshore Wind Farm in Finland

Europe-based energy company Vattenfall has entered a joint venture agreement with Metsähallitus, an enterprise managing land, and water areas, to build and operate Finland’s first major offshore wind farm off ...
/ / Other, Wind
Australia to Provide $118 Million for Battery Projects Across the Country

Australia to Provide $118 Million for Battery Projects Across the Country

The Australian Renewable Energy Agency (ARENA) announced A$176 million (~$118 million) in conditional funding to support eight grid-scale battery projects across the country. With a total project value of A$2.7 ...
PIF Buys Stake in Germany-based Offshore Wind Developer with 7 GW Portfolio

PIF Buys Stake in Germany-based Offshore Wind Developer with 7 GW Portfolio

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), alongside independent infrastructure investment fund Global Infrastructure Partners (GIP), acquired up to 9.5% equity stake in Germany-based offshore wind developer ...
/ / Finance and M&A, Wind
Renewable Capacity Growth Set to Double in Next Five Years: IEA

Renewable Capacity Growth Set to Double in Next Five Years: IEA

The International Energy Agency (IEA) has said the global energy crisis is accelerating the installation of renewable power, with the total capacity growth set to almost double in the coming ...
HealthCare Global Enterprises Installs 2.25 MW Solar Project to Save Energy Costs

HealthCare Global Enterprises Installs 2.25 MW Solar Project to Save Energy Costs

Healthcare Global Enterprises Limited (HCG), which runs cancer care centers among other health facilities, has installed a 2.25 MW solar power project in Jagaluru village in the Davanagere district of ...
/ / Other, Renewable Energy
Energy Consumption from Rooftop Solar Systems to Grow Nine Times by 2031-32: CEA

Energy Consumption from Rooftop Solar Systems to Grow Nine Times by 2031-32: CEA

Energy consumption from rooftop solar installations is estimated to reach 55.8 billion units (BU) by the year 2031-32, a nine-fold jump from 6 BU in 2021-22, the latest Electric Power ...
/ / Markets & Policy, Solar
Iron Flow Battery Maker ESS Tech Cuts Loss by 38% YoY

Iron Flow Battery Maker ESS Tech Cuts Loss by 38% YoY

U.S.-based manufacturer of long-duration iron-flow batteries ESS Tech recorded a loss of $31.6 million in Q3 2022, a 38% year-over-year (YoY) improvement compared to a loss of $51.33 million in ...
Amidst Rise in Renewables, CEA Suggests Ways to Maintain Adequate Generation Capacity

Amidst Rise in Renewables, CEA Suggests Ways to Maintain Adequate Generation Capacity

The Central Electricity Authority (CEA) has prepared a draft resource adequacy plan to maintain adequate generation capacity to meet future energy demands. The document says that it had become imperative ...
/ / Other, Renewable Energy
Daily News Wrap-Up: P&G to Procure Power From ENGIE’s 200 MW Solar Project

Daily News Wrap-Up: P&G to Procure Power From ENGIE’s 200 MW Solar Project

Here are some noteworthy cleantech announcements of the day from around the world: Procter and Gamble (P&G) and ENGIE North America inked a 200 MW power purchase agreement from ENGIE's Sun Valley ...
/ / Other, Renewable Energy
Syngene to Procure Power from O2 Power’s Wind Project in Karnataka

Syngene to Procure Power from O2 Power’s Wind Project in Karnataka

Syngene International, an integrated research, development, and manufacturing services company, has entered into an agreement with O2 Power to procure power from the 100 MW wind project in Karnataka through ...
/ / Other, Wind
Nanoparticles Increase Light Scattering, Boost Solar Cell Performance Research

Nanoparticles Increase Light Scattering, Boost Solar Cell Performance: Research

A team of scientists from Pennsylvania State University (Penn State) has found that nanoparticles boost the efficiency of solar cells not because of the up-conversion but due to enhanced light ...
/ / Solar, Technology