Daily News Wrap-Up: Fashion Retailer H&M Group Signs 90 MW Solar PPA
Over 740,000 EVs supported under the FAME II program
December 15, 2022
Here are some noteworthy cleantech announcements of the day from India and around the world
Swedish fashion retailer H&M Group signed a power purchase agreement (PPA) for a 90 MW solar park with Neoen, a renewable energy producer, and Alight, a Europe-based solar developer. Under the long-term agreement, the solar park, located in Hultsfred, Sweden, will provide the H&M Group with local renewable energy and guarantees of origin, putting the company one step closer to its goal to only source renewable electricity. This is the largest solar PPA contracted in Sweden to date. The project will be jointly developed and owned by Neoen, the majority shareholder, and Alight. It will be built using low-carbon photovoltaic panels to be installed around the runway of Hultsfred airport in the southeast of Sweden. Construction is planned for the second half of 2023, with commissioning to follow in 2025.
Under phase II of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) India program, 745,713 electric vehicles have been supported until December 7, 2022, by way of a demand incentive amounting to about ₹32 billion ($387.73 million), the government said. Additionally, the Ministry of Heavy Industries (MHI) has sanctioned 6,315 e-buses to over 65 cities for intracity and intercity operations across 26 states and union territories. The phase-II of the scheme was launched in 2019 with budgetary support of ₹100 billion ($1.2 billion) for five years. Under this program, incentives are provided to buyers of electric vehicles in the form of an upfront reduction in the purchase price.
RWE, one of the largest energy providers, announced plans for a new project combining solar, batteries, onshore wind, and sustainable farming in South Yorkshire and North Lincolnshire, UK. It has an agreement for a possible generation capacity of up to 600 MW, which could be operational by 2029. The project would be located next to RWE’s existing Tween Bridge onshore Wind Farm; therefore, no additional overhead power lines or other network infrastructure would be required. The Tween Bridge Solar Farm recently secured a capacity agreement with National Grid — a vital step in green energy development.
Chemical company INEOS Olefins & Polymers USA has announced a renewable power purchase agreement with NextEra Energy Resources for a 310 MW solar project in Texas. The solar farm will be constructed, owned, and operated by a subsidiary of NextEra Energy Resources. It will be located in Bosque County, Texas, and is expected to produce 730,000 MWh of clean energy annually, equivalent to over 68,000 homes’ annual electricity use. It is also expected to reduce greenhouse gas emissions by more than 320,000 tons annually. Construction on the INEOS Hickerson solar farm is expected to commence in the first quarter of 2024, with a planned commercial operation date by December 2025.