Listen to this article
Here are some noteworthy cleantech announcements of the day from around the world:
Union Minister for Road Transport & Highways Nitin Gadkari launched Ashok Leyland Electric Double Decker Bus, Switch EiV 22 in Mumbai. Switch EiV 22 is an electric double-decker air-conditioned bus designed, developed, and manufactured in India. The Switch electric double-decker bus can ferry nearly twice the number of seated passengers as compared to a single-decker bus, with an 18% increase in kerb weight (without the passengers). Powering Switch EiV 22 is a 231 kWh capacity, 2-string, liquid-cooled, higher density NMC chemistry battery pack with a dual gun charging system. This enables the electric double decker to have a range of up to 250 km for intracity applications. Switch India has already secured an order of 200 electric double-decker buses in Mumbai.
ACWA Power signed three major clean energy agreements with the Uzbekistan government. The first involves a Heads of Terms agreement for developing a 1.5 GW wind farm in Karakalpakstan. The second is an Investment Cooperation Agreement to jointly develop gas-to-power, renewable energy, and green hydrogen projects in Uzbekistan. The third relates to charting a roadmap for investing in green hydrogen in Uzbekistan in collaboration with Air Products. The $2.4 billion wind project is expected to achieve a financial close by the end of 2023 and be fully commissioned by the first quarter of 2026. When complete, the facility is expected to power 1.65 million households and offset 2.4 million tons of carbon emissions annually. The initiation of new projects is a part of the Uzbek government’s long-term strategy to diversify the country’s energy mix, which targets 8 GW and 12 GW of solar and wind capacity by 2026 and 2030.s
The New York State Energy Research and Development Authority (NYSERDA) announced that up to $30 million in funding is being made available in the third round of the Future Grid Challenge for projects that identify solutions to the technical challenges of integrating renewable energy resources into the electric grid. Up to $3 million per project is available for single or team providers that propose to study, develop, or demonstrate innovative technologies that support modern transmission and distribution. These efforts support New York’s nation-leading Climate Leadership and Community Protection Act (Climate Act) goal to achieve 70% renewable electricity by 2030. NYSERDA is seeking proposals that support implementing advanced technologies that can play a vital role in ensuring the reliability of the transmission and distribution system, reducing cost, and allowing for faster integration of renewables
Axpo Holding AG successfully placed a sustainability-linked bond on the Swiss market for CHF500 million (~$523 million). The bond has been issued in two tranches. Tranche A in the amount of CHF300 million (~$314 million) has a maturity of 4 years and an interest rate of 2%; tranche B in the amount of CHF200 million (~$209 million) has a maturity of 6.5 years and an interest rate of 2.50%. As per the existing sustainability-linked framework, the financing costs are linked to the achievement of targets relating to the further expansion of the capacity of renewable energies. The proceeds will be used for general corporate purposes. This is Axpo Holding’s second sustainability-linked bond on the Swiss market.
American electric power company Duke Energy Florida announced two new lithium-ion battery sites in Alachua and Hamilton counties to enhance grid operations, increase efficiencies and improve overall reliability for surrounding communities. The recently completed Micanopy battery site in Alachua County is 8.25 MW and 15 miles southwest of Gainesville. The site provides a cost-effective solution for focused power quality and reliability for the town of Micanopy and nearby neighbors. Completed in April, the second site is 5.5 MW and is located 1.5 miles south of the Florida-Georgia border in the town of Jennings in Hamilton County. This site will continue to improve power reliability through energy storage as an alternative solution to installing new and more costly distribution equipment.