Summary of daily news: ENGIE will develop a 2 GW renewable energy portfolio in Chile


Here are some remarkable clean tech announcements of the day:

The global energy player ENGIE develop a renewable energy portfolio of 2 GW in Chile. It includes an additional 1 GW of capacity since the last announcement in 2019. The program is part of the company’s transformation plan to end its coal-fired power generation activities in the country by 2025. The program is part of the company’s transformation plan to end its coal-fired power generation activities in the country by 2025. The plan involves an investment of 1.5 billion euros (~ US $ 1.82). billion), allowing the company to reduce CO2 80% of emissions from its energy production activities in Chile by 2026. This initiative is part of the company’s ambition to achieve carbon neutrality by 2050 at the latest.

The Central Electricity Authority has cleared JSW Energy to ride up its Karcham Wangtoo hydroelectric project from 1000 MW at 1091 MW. This capacity increase was achieved by 9% to 1,091 MW without any additional investment. The recovery will be gradual, ie from 1,000 MW to 1,045 MW in the first phase for two monsoon seasons in 2021 and 2022 and 1,091 MW thereafter.

RattanIndia Enterprises has incursion in the electric vehicle segment by acquiring a substantial strategic stake in electric two-wheeler manufacturer Revolt Intellicorp. As part of the deal, RattanIndia Enterprises will have a 50% presence on the board of directors of Revolt Intellicorp, and Rajiv Rattan will be chairman of the board of directors of Revolt. The deal happens to be RattanIndia Enterprises’ first investment in a new era manufacturing business, the company said in an BSE filing.

The European Bank for Reconstruction and Development (EBRD) has invested a € 67 million (~ $ 81.23 million) note as part of an eight-year first of € 600 million (~ $ 727.42 million) green bond issue by VGP NV. The EBRD’s investment will support the development of sustainable semi-industrial and logistics parks in Hungary, Latvia, Romania and the Slovak Republic. The planned new logistics parks will be at least BREEAM certified. The EBRD will further support VGP in exploring opportunities arising from the future deployment of renewable and low-carbon hydrogen and electric mobility technologies.

The European Investment Bank (EIB) and Caisse des Dépôts have in partnership to make available a new line of credit of 1 billion euros (~ $ 1.21 billion). The program makes European funding very accessible for local government investment projects of less than 25 million euros (~ $ 30.31 million). With this financing, the third of its kind, Caisse des Dépôts, through the lending division of the Banque des Territoires, can continue to provide the public sector with fixed-rate loans in addition to its traditional products and services. EIB funds will improve access to long-term finance for small-scale investments, in particular in energy efficiency measures for buildings, water supply and sewage systems, sustainable mobility and clean public transport.

Octopus Renewables a ad the acquisition of two power plants running on biomass in the United Kingdom. With a combined capacity of 85.7 MW, resulting from a joint venture between Copenhagen Infrastructure Partners and Burmeister & Wain Scandinavian Contractor, this is one of the largest transactions of its kind in the UK. Brigg (40.8 MW) and Snetterton (44.9 MW) are powered by a mixture of locally sourced biomass feedstocks. Octopus will manage both sites, adding to the five biomass plants it currently manages across the UK.

The supplier of energy storage solutions Hydrostor develop 1 GW of long-term energy storage in California. The initiative aims to drive the US state’s decarbonization and renewable energy goals. Spread between two sites, the projects represent a combined investment of over $ 1.5 billion. Project development work, including transmission interconnection, engineering and permitting activities, is ongoing. All projects will use the company’s advanced compressed air energy storage technology, which provides eight to 12 hours of energy storage.

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