Major Power Developments – June 2021

Globaldata’s Major Power Developments – June 2021 report focuses on the major power deals, major developments of wind, solar, hydro, nuclear, and thermal industry among others.

Competition over the use of clean energy and deployment of energy storage continued in the global economy. Some important Development is at the forefront of solar energy. LS Power acquired 25 US solar power plants from Public Service Enterprise Group (PSEG).  ReneSola Power won 33 MW solar power projects at a power auction in Poland. Lightsource BP has begun commercial operation of its flagship 247 MWp solar project, Vendimia, in Zaragoza, Spain. ACCIONA has begun construction of the first solar PV farm in the United States. UGE International has signed nine new commercial solar power generation projects in the Philippines. In the nuclear sector, the Nawah Energy Company has signed maintenance and engineering Service contract with Framatome.

Some major power deals include:

• Enefit Green to invest $71.4 million in Sila II wind project in Lithuania: Enefit Green AS, a energy company and a subsidiary of Eesti Energia Aktsiaselts, agreed to invest EUR60 million ($71.4 million) in the construction and development of Sila II wind power project located in Lithuania
• Enlight Renewable Energy to acquire 90% stake in Clenera: Enlight Renewable Energy LTD., a renewables IPP and developer, through its wholly-owned US subsidiary, has entered into a definitive agreement to acquire 90% stake in Clenera, LLC, solar and storage developer, from Jason Ellsworth and Adam Pishl, for purchase consideration amounting to $389.7 million, at an enterprise value of around $433 million
• Copenhagen Infrastructure Partners and Greengate Power to invest $566.3 million in Travers Solar project in Canada: Copenhagen Infrastructure Partners K/S (CIP), and Greengate Power Corporation, have agreed to invest CAD700 million ($566.3 million) in the construction and development of Travers solar power project situated in Vulcan County, Alberta, Canada
• Starwood Energy acquires Coram wind in Tehachapi: Starwood Energy Group Global LLC has closed the acquisition of Coram Wind, a 102 MW wind farm situated in Tehachapi, Calif., from Consolidated Edison Development Inc
• Arcadis Ost I offshore wind farm to obtain $680m loan: The European Investment Bank (EIB) along with 9 other financial institutions have agreed to offer a €570m ($680m) loan to energy company Parkwind for its Arcadis Ost I offshore wind farm
• Adani Power Limited set to acquire Essar Power’s 1200 MW Mahan thermal power project for INR 3000 Crore in Madhya Pradesh
• One of Europe's largest BESS will be built in Olkiluoto

Download our report for more insights on power developments in June 2021.