Daily News Wrap-Up: EDF Renewables to Supply 250 MW of Solar to Steel Producer Nucor
Malaysia’s Public Islamic Bank has launched a solar financing program for residential consumers
Here are some noteworthy cleantech announcements of the day from around the world:
EDF Renewables North America and Nucor Corporation have signed a 15-year virtual power purchase agreement (VPPA) for 250 MW of solar energy in Texas, United States. The project, selected by steel producer Nucor under a competitive request for proposal (RfP) process, is expected to start delivering clean electricity in the second quarter of 2023. The project will generate enough clean energy that can satisfy the electricity needs of nearly 50,000 households. The agreement marks the first solar power purchase agreement for Nucor and the largest of its kind for the steel industry.
Malaysia’s Public Islamic Bank Berhad (PIBB) has launched solar financing for residential consumers aimed exclusively for existing PIBB and Public Bank Berhad house financing customers, beginning from November 12, 2020, to December 31, 2021. The financing rate from the base rate (BR) plus 2% per annum (current BR is at 2.27% per annum) with tenure up to 10 years. The bank is also looking into offering this financing to the commercial sector in the near future.
Sarawak Energy and Petroliam Nasional Berhad have signed a Memorandum of Understanding (MoU) to collaborate and explore the commercial production of green hydrogen and its value supply chain in Asia. The MoU covers the possibility of utilizing Sarawak’s renewable hydropower in the electrolysis process to produce green hydrogen and generate renewable energy certificates to support the renewable energy market. Data sharing from this collaboration is expected to provide a measure and insights into the potential of a hydrogen supply chain in Asia.
Hydrogen Renewables Australia has agreed to partner with Copenhagen Infrastructure Partners on its 5 GW Murchison renewable hydrogen project located near Kalbarri in the mid-west of Western Australia. The project aims to export large-scale hydrogen to the Asian market – notably Japan and Korea. The project will be powered by combined wind and solar power generation and utilize desalinated water.
AGL, an Australia-based energy company, announced that it would develop a grid-scale battery in South Australia as part of plans to roll-out 850 MW of energy storage capacity across the National Energy Market by FY24. The battery system will be built in stages and located on the Torrens Island Power Station facility, with a capacity of up to 250 MW and a duration of up to four hours.
Here is our previous daily news wrap-up.
Harsh Shukla is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.