Daily News Wrap-Up: Hindustan Coca-Cola Commissions Seven New Renewable Projects

United States Agency for International Development to help expand rooftop solar energy generation in Vietnam

December 16, 2020


Here are some noteworthy cleantech announcements of the day from around the world:

Hindustan Coca-Cola Beverages (HCCB) announced the commissioning of seven additional renewable energy projects into service. Installed in different factories of the company, these projects are designed to source 23.5 million units of power by purchase power agreement through various state grids. Powered essentially by wind, solar, and biomass, renewable energy projects are likely to achieve a reduction of around 2 lakh tons of carbon emission every year. The total installed annual power generation from renewable energy sources in HCCB has now increased from about 70 million units in 2019 to 93 million units this year.

The Vice President of India, Shri M. Venkaiah Naidu, today appealed to the Finance Commissions and local bodies to encourage green buildings through various measures, including tax incentives. He also wanted all states to create online portals to provide single window clearance to green buildings. Quoting the World Green Building Council data, the Vice President said that buildings and construction accounted for 39% of energy-related CO2 emissions globally and called for accelerating the process of total de-carbonization of the built environment.

Delta, a global leader in power management solutionssaid it would be providing its high-efficiency PV string inverters M70A series to the solar company Anumar, an engineering, procurement, and construction (EPC) services provider, which is building the Solarpark Schornhof project, currently the largest ground-mounted solar park in Southern Germany. The M70A inverters’ compliance with the new VDE Technical Connection Rules for High-Voltage (VDE-AR-N 4120) was crucial in Anumar’s decision to select Delta for this project. The project aims to cut CO2 emissions by up to 77,000 tons per year with an output of 120 MWp. To date, approximately one-third of the circa 1,500 Delta M70A string PV inverters the project requires have been deployed at the solar park.

RWE, a renewable energy company, has signed an agreement with a subsidiary of Algonquin Power & Utilities Corp to sell a 51% stake in four RWE onshore wind facilities in Texas, accounting for a total pro-rata installed capacity of 439 MW. The total consideration corresponds to an enterprise value of around $600 million (for the 51% stake), which translates to an implied enterprise value multiple of $1.4 million/MW. Two projects are in operation, and two under construction. The disposal is part of RWE’s capital rotation program, and the proceeds will be used to finance further growth in the renewable energy business.

ING Australia today announced the financing of a major new battery energy storage system (BESS) for Vena Energy Australia in Queensland. The battery will store 150 MWh of energy, equivalent to powering up to 57,000 Australian homes. ING acted as the Technical Bank on the transaction. Once operational, the $120 million Wandoan South BESS will be Queensland’s biggest battery project and the second largest in Australia. The BESS will deliver services to AGL and will be built in the Western Downs region, an area with significant activity in greenfield renewable energy development.

Daimler Truck AG, IVECO, OMV, Shell, and the Volvo Group have committed to work together to help create the conditions for the mass-market roll-out of hydrogen trucks in Europe. The decade long scale-up is expected to begin with groups of customers willing to make an early commitment to hydrogen-based trucking. These fleets are expected to operate in regional clusters and along European high capacity corridors with good refueling station coverage. During the decade, these clusters can then be interconnected to build a truly pan-European network.

Here is our previous daily news wrap-up.