Australian energy retailer SmartestEnergy has signed a long-term power purchase agreement (PPA) with renewable energy project owner Octopus Group to offtake 25% generation from a solar farm.
Greek transmission system operator Independent Power Transmission Operator (IPTO) has signed a long-term loan agreement with the European Investment Bank (EIB) to finance a power connector between mainland Greece and outlying islands.
Renewable energy, such as wind and solar, is expected to dominate power generation out to 2050 thanks to the continuing cost competitiveness and the adoption of these sources into the power systems. However, significant acceleration in financing and building new capacity remains the challenge to continue the growth, according to the latest edition of bp’s Energy Outlook.
Australia and Germany have collaborated to boost research into green hydrogen production with a A$110 million (US$77.8 million) investment in four projects.
Investment in the global energy transition totaled US$1.1 trillion in 2022 according to analyst firm BloombergNEF, reaching parity with investment in fossil fuels for the first time ever.
Norwegian distributed solar marketplace Otovo has secured €120 million (US$130 million) in debt and equity financing to expand its residential solar portfolio across Europe.
Lawmakers from both sides of the US House of Representatives have issued a resolution to repeal President Joe Biden’s waiver on solar import tariffs from Southeast Asia.
