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SECI Floats Tender to Procure 1.2 GW Round-the-Clock Renewable Power

Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-energy-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>OX2, a solar and energy storage project developer, reached an agreement to </strong><a href="https://mercomcapital.com/ox2-sells-42-5-mw-energy-storage-project-in-sweden/" target="_blank" rel="noopener"><strong>sell</strong></a><strong> the 42.5 MW/ 42.5 MWh Bredhälla energy storage</strong> project in Sweden to Flower, an energy technology and energy storage solutions provider. OX2 started construction of the project in late 2022, which is located in the municipality of Uppvidinge in southern Sweden. The facility consists of batteries utilizing lithium-ion technology.</p>
<p><strong>Ib vogt, a developer of solar and storage projects, has </strong><a href="https://mercomcapital.com/ib-vogt-secured-funding-for-95-mw-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €60 million (~$65.1 million) in project funding to build and operate a 95.18 MW solar project in Spain.</strong> Banco Santander, a Madrid-based multinational financial services company, provided the funding. Clifford Chance, a London-based multinational law firm, advised Ib vogt on the project financing. The company will use the funds to construct, operate, and maintain the solar project, which will be built in the Segovia province in the Castile and Leon region of Spain.</p>
<p><strong>RWE, a German power generation company, and PPC, a Greece-based utility company, have signed </strong><a href="https://mercomcapital.com/rwe-and-ppc-closed-funding-for-730-mwp-solar-project-portfolio/" target="_blank" rel="noopener"><strong>loan</strong></a><strong> agreements </strong>with Alpha Bank, Eurobank, and National Bank of Greece for the construction of a portfolio of solar projects with a total capacity of 730 MWp (691 MWac) in Amyntaio, Western Macedonia, with contribution from Recovery and Resilience Fund. The projects will be developed by METON Energy, a joint venture of RWE Renewables Europe &amp; Australia (51%) and PPC Renewables (49%), subsidiaries of RWE and PPC, respectively.</p>
<p><strong>DWS, an asset manager, has <a href="https://www.x-elio.com/dws-acquires-a-portfolio-of-147-mw-in-solar-assets-from-x-elio-in-spain/" target="_blank" rel="noopener">announced</a> the acquisition of three solar projects in Spain totaling 147 MW from X-ELIO, a company specializing in developing, constructing, financing</strong>, and operating solar projects. The three projects are located in Medina de las Torres, Badajoz, and started operations in mid-2023. The three plants will generate an average estimated supply of renewable energy to the equivalent of 91,800 households per year.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-pivot-energy-secures-tax-equity-investment/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: OX2 Sells 42.5 MWh Energy Storage Project in Sweden


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					</table><p><a href="https://www.rwe.com/en/" target="_blank" rel="noopener">RWE</a>, a Germany-based power producer, has acquired the remaining 49% stake in Nordseecluster, a 1.6 GW cluster of offshore wind farms from <a href="https://www.northlandpower.com/en/index.aspx" target="_blank" rel="noopener">Northland Power</a>, for approximately €35 million (~$37.5 million).</p>
<p>Canada-based Northland Power is a renewable energy project developer with ownership or economic interest in 2.6 GW operating capacity.</p>
<p>The Nordseecluster offshore wind farm is located north of the island of Juist in the German North Sea and was a joint venture by RWE and Northland before the transaction. The total gross capacity comprises 1,560 MW of offshore wind projects, including Nordsee Two, Nordsee Three, Delta Nordsee, and Godewind.</p>
<p>With the acquisition, RWE has become the sole owner of the Nordseecluster, which is set to become Germany&#8217;s first gigawatt-scale offshore wind cluster.</p>
<p>The Nordseecluster will be developed in two phases, Nordseecluster A and B.</p>
<p>Currently, in the permit application phase, Nordseecluster A consists of two wind farms, N-3.8 and N-3.7, with a combined capacity of 660 MW.</p>
<p>Offshore works for Nordseecluster A are scheduled to commence in 2025, with commercial operations anticipated to begin in early 2027.</p>
<p>Nordseecluster B, the second phase, will encompass two additional wind farms, N-3.6 and N-3.5, adding a further 900 MW of capacity starting in 2029.</p>
<p>Once operational in 2027 and 2029, the Nordseecluster is expected to generate approximately 6 TWh of green electricity annually.</p>
<p>RWE has already selected preferred suppliers for the main components of all four sites to maximize efficiency and harness the benefits of scale. Vestas, a wind turbine manufacturer, will deliver 104 offshore wind turbines with a capacity of 15 MW each.</p>
<p>The company envisions the Nordseecluster as a cornerstone in its strategy to leverage synergies and achieve substantial economies of scale in offshore wind farms&#8217; development, construction, and operation.</p>
<p>Sven Utermöhlen, CEO of RWE Offshore Wind, said, &#8220;Becoming the sole owner of the Nordseecluster aligns with our ambition to further grow our position as a global leader in offshore wind.&#8221;</p>
<p>Utermöhlen highlighted the significant size and scale that the Nordseecluster would provide, emphasizing RWE&#8217;s commitment to supporting Germany&#8217;s decarbonization drive.</p>
<p>The Nordseecluster will be close to the existing 332 MW Nordsee One wind farm, which RWE will continue to operate jointly with Northland Power.</p>
<p>Northland Power&#8217;s priority is to develop and achieve financial close for two significant offshore wind projects in 2023, the 1 GW Hai Long project in Taiwan and the 1.2 GW Baltic Power project in Poland. The company&#8217;s pipeline includes 19 GW of offshore and onshore renewable projects in Canada, the US, Europe, Asia, and Latin America.</p>
<p>RWE plans to participate in the <a href="https://www.mercomindia.com/germany-invites-bids-offshore-wind" target="_blank" rel="noopener">upcoming</a> German offshore wind auctions later this year to expand its presence further in the country.</p>
<p>In October last year, RWE <a href="https://www.mercomindia.com/rwe-acquires-con-edison-clean-energy" target="_blank" rel="noopener">signed</a> a purchase agreement with Con Edison to acquire all shares in Con Edison Clean Energy Businesses for a purchase price based on an enterprise value of $6.8 billion.</p>


RWE Secures Full Ownership of 1.6 GW Offshore Wind Projects in Germany


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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-rwe-acquires-con-edison-clean-energy/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Moxion Power, a manufacturer of mobile energy storage technology, announced </strong><a href="https://mercomcapital.com/mobile-energy-storage-moxion-power-series-b-funding/" target="_blank" rel="noopener"><strong>securing</strong></a><strong> $100 million in Series B funding</strong>, led by Tamarack Global, with participation from existing investor Energy Impact Partners. The company plans to use the funding to scale production at its first two domestic manufacturing facilities to meet the increasing demand for its mobile energy storage product lineup.</p>
<p><strong>RWE, a renewable energy company, </strong><a href="https://mercomcapital.com/rwe-acquires-con-edison-clean-energy-businesses-for-6-8-billion/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a purchase agreement with Con Edison, a renewable energy project developer, to acquire all shares in its subsidiary Con Edison Clean Energy Businesses. </strong>The transaction is valued at $6.8 billion. According to RWE, the acquisition almost doubles its operating assets in the U.S to about 7.2 GW.</p>
<p><strong>Brookfield Renewable, an owner, operator, and developer of renewable power has agreed to </strong><a href="https://mercomcapital.com/brookfield-acquires-scout-clean-energy-and-standard-solar/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> Scout Clean Energy</strong>, a renewable energy developer, for $1 billion with the potential to invest an additional $350 million to support the business development activities. The company also announced closing its acquisition of Standard Solar, a solar energy company specializing in developing and financing solar electric systems, for $540 million.</p>
<p><strong>Loop Global, an electric vehicle charging infrastructure company, <a href="https://mercomcapital.com/ev-charging-provider-loop-global-raises-series-a-funding/" target="_blank" rel="noopener">announced</a></strong><strong> the completion of a $40 million Series A-1 funding round</strong> led by Fifth Wall Climate and Agility Ventures. It also raised an additional $20 million from Keystone National Group, bringing the total to $60 million. Loop will use the funds to expand its U.S operations by continuing to provide support to all 50 U.S states and expanding beyond the 15+ countries the company already supports.</p>
<p><strong>Multiply Group, an Abu Dhabi-based holding company, has </strong><a href="http://wam.ae/en/details/1395303089141" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> 80% of International Energy Holding (IEH).</strong> International Energy Holding recently acquired a 50% stake in Kalyon Enerji Yatrimlari, a clean and renewable energy company based in Turkey. Under IEH, Multiply Group aims to continue expanding its utilities and energy investments globally. Kalyon Enerji’s assets include the PV power plant project with an installed capacity of 1,348 MWp in Konya’s Karapinar region. When the project is completed in 2023, this facility alone will meet the annual electrical energy needs of approximately 2 million people.</p>
<p><strong>Greece-based battery manufacturer Sunlight Group has </strong><a href="https://www.energy-storage.news/greek-battery-company-sunlight-group-gets-e140-million-loan-for-battery-manufacturing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a €140 million (~$136 million) loan for its manufacturing and R&amp;D investments.</strong> The €140 million syndicated bond loan is made up of €87.5 million (~$86.4 million) in Recovery and Resilience Facility funds, the EU-wide program to mitigate the negative effects of the Covid pandemic, and €52.5 million (~$51.8) from Piraeus Bank and Eurobank.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s funding <a href="https://mercomindia.com/funding-and-ma-roundup-ev-charging-company-connected-kerb-secures-110-million/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Energy Storage Firm Moxion Secures $100 Million to Scale Production


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Hero MotoCorp and Hindustan Petroleum Corporation (HPCL) </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/9f5cbf14-f2c7-45e6-b9f2-8149e2a16b7f.pdf" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a collaboration to establish charging infrastructure for electric vehicles (EVs) in the country.</strong> As a part of the initiative, the companies will set up charging infrastructure for two-wheeler EVs across the country. The two companies will first establish charging infrastructure at HPCL’s existing network of nationwide energy stations, with the likelihood of broadening the collaboration for supplementary business opportunities. In the first phase, charging stations will be set up in select cities, which will then be expanded to other key markets to establish a high-density EV charging station network across the country. Hero MotoCorp will lead the infrastructure development for the charging network. Each charging station will feature multiple smart and fast chargers, including DC and AC chargers, that will be available to all two-wheeled EVs.</p>
<p><strong>The Union Cabinet has </strong><a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1861129" target="_blank" rel="noopener"><strong>approved</strong></a><strong> modifications in the program for developing semiconductors and display manufacturing </strong><strong> in India.</strong> Under the modified program, uniform fiscal support of 50% of project cost will be provided across all technology nodes for setting up semiconductor fabs. Given the niche technology and nature of compound semiconductors and advanced packaging, the modified program will also provide fiscal support of 50% of capital expenditure to set up compound semiconductors/silicon photonics/sensors / discrete semiconductors fabs and Assembly Testing Mark Pack (ATMP)/ Outsourced Semiconductor Assembly and Test (OSAT). The modified program is expected to expedite semiconductor and display manufacturing investments in India.</p>
<p><strong>Energy Vault Holdings, a grid-scale energy storage solutions company, </strong><a href="https://www.businesswire.com/news/home/20220915005772/en/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> a mandate of an initial 2 GWh gravity energy storage project and the deployment of Energy Vault’s Energy Resiliency Centers</strong> at the zero carbon industrial parks in China that will deploy Energy Vault’s EVx gravity energy storage technology. In partnership with Atlas Renewable, EIPC (a policy-oriented supporting organization (NGO) of the Investment Association of China), in conjunction with China Tianying and selected provincial and local governments, will develop five national zero carbon industrial parks, some of which will be built in previously underserved economic regions throughout China. The parks will utilize Energy Vault’s gravity energy storage technology and its Energy Management Software platform to support China’s mandated climate change and environmental policy: Carbon Peak in 2030 and Carbon Neutrality in 2060 – commonly referred to as “30-60.”</p>
<p><strong>RWE, a German multinational energy company, and Latvenergo, a state-owned electric utility company in Latvia, </strong><a href="https://www.rwe.com/presse/rwe-renewables/2022-09-16-rwe-und-latvenergo-bndeln-ihre-krfte-fr-offshore-wind-in-lettland" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a framework agreement to work together on the development, construction, </strong>and operation of offshore wind farms off the Latvian coast. The equal partners combine their experience in the development, efficient implementation, and safe operation of offshore wind farms with extensive knowledge of the Latvian energy market and the power supply in the Baltic States.</p>
<p><strong>Iberdrola </strong><a href="https://www.iberdrola.com/press-room/news/detail/iberdrola_environmental_impact_permit_photovoltaic_cedillo" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it had obtained the Environmental Impact Statement for the construction of a new 375 MW photovoltaic project in the town of Cedillo in Cáceres.</strong> The new plant will have sufficient capacity to supply 178,000 homes with clean energy, more than the population of a city like Badajoz, and will prevent the emission of 77,000 tonnes of CO2 per year. The installation will have more than 576,000 bifacial photovoltaic modules that allow for higher production, as it has two light-sensitive surfaces. In this way, it will be able to produce more than 582,400 MWh of indigenous green energy per year which would have required more than 97 million cubic metres of gas to be generated by a combined cycle.</p>


Daily News Wrap-Up: Hero MotoCorp Partners with HPCL to Deploy EV Charging Stations Across India


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					</table><p>German sustainable energy company <a href="https://www.rwe.com/en/the-group/countries-and-locations" target="_blank" rel="noopener">RWE</a> and offshore solar energy developer <a href="https://solarduck.tech/" target="_blank" rel="noopener">SolarDuck</a> inked a collaboration agreement to develop the use of floating solar parks in the sea and integrate it into an offshore wind farm to create a multi-source renewable energy project.</p>
<p>RWE selected SolarDuck as an exclusive provider for offshore floating solar technology with integrated storage in its bid for the Dutch tender for offshore wind farm Hollandse Kust West (HKW VII) for system integration.</p>
<p>A winning bid will realize the integration of an offshore floating solar plant at a pre-commercial scale with 5 MW combined with innovative energy storage solutions into the offshore wind farm.</p>
<p>The offshore floating solar technology developed by SolarDuck is developed with weather-resistant offshore solar technology and provides an answer to increasing land scarcity for renewable energy generation. Integrating offshore floating solar into an offshore wind farm would be a more efficient use of ocean space for energy generation (using the space between the wind turbines).</p>
<p>The floating solar technology is equipped to float several meters above the water, following the waves like a carpet, keeping critical electrical components dry, clean, and stable, and securing the integrity of the semi-submersible structures while enabling safe operations and minimal maintenance.</p>
<p>The region around the North Sea is considered one of the most challenging offshore environments. The deployment of offshore solar farms demands technologies that resist rough offshore conditions, including high waves, strong winds, and corrosive conditions.</p>
<p>The unique and triangular design of the offshore solar platform designed by SolarDuck has received the world´s first certification for offshore floating solar by the French company Bureau Veritas.</p>
<p>To accelerate the development of the technology, RWE plans to invest in SolarDuck’s full-scale offshore project ‘Merganser,’ with a nameplate capacity of 0.5 MWp.  Merganser is expected to be installed off the coast of Ostend in the Belgian North Sea and will be SolarDuck’s first offshore pilot project.</p>
<p>Merganser will provide RWE and SolarDuck with credible first-hand learnings that would support the faster commercialization of the technology from the next financial year.</p>
<p>In June this year, RWE <a href="https://mercomindia.com/daily-news-wrap-up-sun-mobility-deploy-battery-swapping-maharashtra/" target="_blank" rel="noopener">signed</a> a memorandum of understanding with steel producer ArcelorMittal to develop, build, and operate offshore wind farms and hydrogen facilities in Germany. The facilities would supply clean energy and green hydrogen needed to produce low-emission steel in the country.</p>
<p>According to a recently <a href="https://mercomindia.com/2021-was-the-best-year-for-offshore-wind-installations-globally-gwec/" target="_blank" rel="noopener">released</a> Global Offshore Wind report by the Global Wind Energy Council (GWEC), 2021 was one of the best years ever for the global offshore wind industry, which added 21.1 GW of new capacity connected to the grid.</p>


RWE & SolarDuck to Integrate Floating Solar With a Wind Farm in The North Sea


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>The Karnataka Electricity Regulatory Commission (</strong><a href="https://kerc.karnataka.gov.in/english" target="_blank" rel="noopener"><strong>KERC</strong></a><strong>) recently accepted the petition by Chowdeshwari Solar Energy for the delay in commissioning a 1 MW solar power project</strong> in Chikkaballapura District up to June 22, 2017. The commission also ruled that the petitioner was entitled to the tariff of ₹8.40 (~$0.11)/kWh as per the power purchase agreement. KERC also directed BESCOM to pay the difference in tariff paid per unit from the date of the plant’s commissioning along with the late payment surcharge in terms of the power purchase agreement within two months. BESCOM was also directed not to levy any liquidated charges during this period, and if already charged, they must be refunded.</p>
<p><strong>Sony Group Corporation and Honda Motor </strong><a href="https://global.honda/newsroom/news/2022/c220616eng.html?from=newsrelease_area" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a joint venture agreement to establish a new company to engage in the sale of high-value-added electric vehicles (EVs)</strong> and provide services for mobility. The new company will aim to bring together Honda’s environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology, and after-sales service management experience with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network, and entertainment technologies, to realize a new generation of mobility and services for mobility. Sony and Honda plan to establish the new company within 2022, sell EVs, and provide mobility services in 2025.</p>
<p><strong>Photon Energy, a European solar energy developer, </strong><a href="https://www.photonenergy.com/en/photon-energy-group/news/photon-energy-breaks-ground-on-first-of-32-mwp-solar-projects-in-romania-to-be-built-this-year.html" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has broken ground on the construction of its very first Romanian solar photovoltaic power plant with a generation capacity of 5.7 MW.</strong> The project has high-efficiency bifacial solar modules mounted on single-axis trackers and is expected to deliver around 8.7 GWh of renewable energy annually to the grid of Enel E-Distributie Banat, which will be sold on the energy market on a merchant basis. This will be done without support or a power purchase agreement with an energy off-taker. The new power plant is scheduled to commence operations in the fourth quarter of 2023. The solar power plant is located near Șiria in Romania’s Arad County and will extend over 9.3 hectares of greenfield land and be equipped with approximately 10,600 solar panels. The power plant will be owned and operated by Siria Solar S.R.L., a special purpose company wholly owned by Photon Energy Group.</p>
<p><strong>RWE and Commerzbank </strong><a href="https://www.rwe.com/en/press/rwe-ag/2022-06-20-german-offshore-electricity-for-medium-sized-industrial-companies" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a memorandum of understanding (MoU) to create a ‘Green Mittelstand Fund’ to provide medium-sized industrial companies in Germany access to green electricity</strong> generated by offshore wind plants. The new fund will offer these companies, for the first time, the opportunity to secure green electricity through long-term power purchase agreements. The wind farm is to have an installed capacity of around 1 GW. The companies would have to apply for a seabed for the wind farm within the framework of future tenders under the German Wind Energy at Sea Act&#8217;s planned amendment. These auctions are expected to take place in 2023. RWE plans to hold 51% of the shares in the wind farm, and the remaining 49% are to be offered to the interested medium-sized companies by Commerzbank via the ‘Green Mittelstand Fund.’ RWE will develop, build, and operate the wind farm. The company will commit to making the power generated there available to medium-sized companies. Commerzbank, on its part, plans to make green electricity directly available to its customers from medium-sized companies.</p>
<p><strong>The International Renewable Energy Agency (IRENA) and the OPEC Fund for International Development (OPEC Fund) </strong><a href="https://irena.org/newsroom/pressreleases/2022/Jun/IRENA-and-OPEC-Fund-Join-Forces-to-Unlock-Investment-in-Energy-Transition" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a memorandum of understanding </strong>to ramp up efforts to advance renewable energy investment and enable access to sustainable finance in emerging and developing economies. They have agreed to mobilize finance, unlock investment, and support project development on the ground. At a practical level, both sides will collaborate to provide technical assistance and capacity building to project developers, creating a pipeline of bankable projects ready to be financed. They will also work to attract potential investors. The parties will also explore cooperation under the IRENA-managed Energy Transition Accelerator Financing Platform, the Climate Investment Platform, and OPEC Fund initiatives such as the planned Energy Access and Transition Trust Fund. They will also closely collaborate at U.N. Climate Conferences COP27 in Egypt in November 2022 and COP28 in the United Arab Emirates in November 2023.</p>


Daily News Wrap-Up: Regulator Allows ₹8.40/kWh Tariff for a Delayed Solar Project


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>NTPC </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/a02ebd33-777c-4160-a40d-9557af75bdbe.pdf" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the commissioning of the fourth part capacity of 47.52 MW out of the 296 MW Fatehgarh solar photovoltaic project at Jaisalmer, Rajasthan.</strong> NTPC’s standalone installed and commercial capacity now stands at 54.71 GW, and the group’s installed and commercial capacity stands at 69.08 GW.</p>
<p><a href="https://servotech.in/" target="_blank" rel="noopener"><strong>Servotech Power Systems</strong></a><strong> announced that it has developed and tested a solar performance monitoring and controlling device in association with the German Development Agency, Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (</strong><a href="https://www.giz.de/en/html/index.html" target="_blank" rel="noopener"><strong>GIZ</strong></a><strong>). </strong>The device, dubbed ‘ComPort,’ was tested with the portable solar system Photovoltaic Port at the EUREF Campus in Berlin, Germany. ComPort can be integrated into any domestic off-grid or hybrid solar system and turn it into a smart solar system. A portable solar system, the PV Port, has been erected at the same campus. IoT-enabled ComPort’s intelligent app helps identify defects, issue notifications, diagnose issues, and suggest O&amp;M tasks. Additionally, any anomalies or underperformance are recognized proactively with constant monitoring. ComPort considerably helps to lower the chances of a system malfunctioning.</p>
<p><a href="https://www.ptcindia.com/" target="_blank" rel="noopener"><strong>PTC India</strong></a><strong> and </strong><a href="https://greenstat-india.com/" target="_blank" rel="noopener"><strong>Greenstat Hydrogen India</strong></a><strong>, a subsidiary of Norwegian Energy Company Greenstat, entered a memorandum of understanding for the “Joint Development of Green Hydrogen Solutions for Indian power market beneficiaries.”</strong>  PTC and Greenstat will jointly work towards developing reen Hydrogen projects in India. The areas of development will include feasibility studies and/or project management services for green hydrogen solutions to potential beneficiaries in India. Both PTC and Greenstat Hydrogen India will also identify opportunities for developing a Centre of Excellence to facilitate green hydrogen production in India.</p>
<p><strong>Vattenfall, a European energy company, </strong><a href="https://group.vattenfall.com/press-and-media/pressreleases/2022/vattenfall-invests-in-two-offshore-wind-projects-outside-gothenburg" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it is buying the majority share in two offshore wind projects off the coast of Gothenburg from wind power company Zephyr.</strong> Once fully developed, the projects are expected to generate 10.5 TWh of fossil-free electricity annually. The two wind projects, Vidar and Poseidon, are located off the Swedish west coast, north of Gothenburg. After the acquisition, Vattenfall’s ownership will amount to 85%. Together with Zephyr, the early-stage projects will be further developed, and the necessary permits for the establishment will be applied. Vidar and Poseidon, primarily consisting of floating wind turbines, are expected to have a combined capacity of 2.8 GW and an annual production of 10.5 TWh.</p>
<p><strong>C-Zero Inc., a U.S.-based clean energy company, </strong><a href="https://www.czero.energy/post/c-zero-closes-34-million-financing-round-led-by-sk-gas-to-build-natural-gas-decarbonization-pilot" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closure of a $34 million financing round led by SK Gas, a subsidiary of South Korean conglomerate the SK Group.</strong> Two other new investors joined SK Gas &#8211; Engie New Ventures and Trafigura, a physical commodities trading company &#8211; in addition to participation from all existing investors, including Breakthrough Energy Ventures, Eni Next, Mitsubishi Heavy Industries, and AP Ventures. The funding will be used to build C-Zero’s first pilot plant, which is expected to be online in the first quarter of 2023.  The plant would produce up to 400 kgs of hydrogen per day from natural gas with no CO2 emissions.</p>


Daily News Wrap-Up: NTPC Commissions 47.52 MW Solar Power Project in Rajasthan


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>JinkoSolar </strong><a href="https://www.jinkosolar.com/en/site/newsdetail/1736" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a distribution agreement with Aldo Solar, a Brazil-based distributed solar energy company, to distribute 600 MW N-type Tiger Neo modules.</strong> The new panels are expected to be available at Aldo Solar for pre-sale starting in July. The agreement with Aldo Solar makes Brazil the first market in Latin America to make JinkoSolar &#8216;s new N-type modules available. At the end of last year, the companies announced the signing of the largest distribution agreement for Distributed Generation, signed by Jinko Solar outside China.</p>
<p><strong>Garanti BBVA, a Turkish financial services company, </strong><a href="https://www.bbva.com/en/sustainability/garanti-bbva-to-finance-turkiyes-largest-ever-rooftop-solar-power-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it would finance Turkey’s largest-ever rooftop solar power project with a loan of 400 million Turkish lira (~$23.09 million).</strong> The new solar power plant, based on state-of-the-art technology and comprising an area of 632,000 sq. meters, is said to be the country&#8217;s largest solar project so far, with a price tag of $71 million and an annual forecast output of 250 million kWh. The new power plant will prevent 117 million kg of carbon emissions, supporting the world&#8217;s cleanest steel production facility and boosting Türkiye&#8217;s journey toward net-zero carbon emissions.</p>
<p><strong>Arbor Renewable Gas, a Houston-based renewable gasoline and green hydrogen company </strong><a href="https://gov.louisiana.gov/index.cfm/newsroom/detail/3718" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it is evaluating West Baton Rouge Parish for a planned $800 million manufacturing and distribution facility employing carbon capture and sequestration emissions-reduction technology.</strong> Operating as Magnolia Renewable Fuels, the facility is expected to produce renewable gasoline from wood waste biomass sourced from Louisiana and Mississippi timber operations. The project would create 32 new direct jobs with average annual salaries of $99,000, plus benefits. The company estimates the development of the facility would generate up to 880 construction jobs at peak construction. The company plans to locate its greenfield facility at the Port Allen Rail Terminal, offering railroad and highway accessibility and proximity to timber operations. Magnolia will source southern yellow pine pre-commercial thinnings, a byproduct of routine forest management operations.</p>
<p><strong>Osaka Gas Australia, a wholly-owned subsidiary of Osaka Gas, </strong><a href="https://www.osakagas.co.jp/en/whatsnew/__icsFiles/afieldfile/2022/06/17/220617_1.pdf" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a non-binding memorandum of understanding with AGL Energy, the Australia-based integrated energy provider,</strong> to join AGL and its partners in feasibility studies into the development of green energy hubs in South Australia (SA) and New South Wales (NSW). The feasibility studies will explore potential opportunities to establish green hydrogen production facilities at AGL’s existing power generation sites located at Torrens Island, SA – Torrens Island Project and Hunter Valley, NSW – Hunter Valley Project and provide green hydrogen to the users in SA and NSW, as well as to broader export markets.</p>


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