Power Plants

Corporate power purchase agreements (PPAs) have hit record levels in the Asia Pacific region as fuel prices rise and the cost of renewables falls, according to Wood Mackenzie principal analyst, Kyeongho Lee.

Iberdrola targets to invest US$17 billion in renewables in the next three years and reach 52GW of renewables capacity installed.

Renewables developer ACEN Australia is poised to commence construction on its 400MW Stubbo solar project after having executed key contracts and reached a final investment decision, continuing its recent expansion in Australia’s renewables market.

Norwegian renewables developer Hydro Rein and German investment company Commerz Real have agreed to acquire 362MW of solar PV projects in Denmark.

Array Technologies, the US solar tracker manufacturer, will supply tracking technology for a 750MWdc PV project in Ohio.

Inverter manufacturer SolarEdge has posted record revenue and inverter shipment for Q3 due to its “strong momentum” in the European market.

PV developer Primergy has submitted an initial permitting application to La Plata County, Colorado, for its proposed 155MWac Hesperus Solar project, which will be co-located with 155MW of battery energy storage.

Energy technology company AES Corporation has signed 1.6GW of renewable PPAs during Q3 2022, bringing the total to 3.2GW this year.

The World Bank has approved funding for a US$497 million renewable energy project in South Africa that will see 150MW of solar and 70MW of wind capacity installed in place of the coal-fired Komati power plant.

Renewables asset owner Brookfield Renewable is planning to commission at least 10GW of clean energy projects in the next three years, leveraging its newly acquired US solar businesses.