Daily News Wrap-Up: Sterling & Wilson Bags 300 MW of Solar Projects in Australia

IFC provides a loan worth $225 million to South Africa’s FirstRand Bank


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

Sterling and Wilson Solar Limited, a Shapoorji Pallonji Group company, has secured an order worth 300 million Australian dollars (~$218.38 million). The company bagged orders two large-scale solar projects in Australia from a global independent power producer, which will have an installed capacity of more than 300 MW. The EPC work for both projects is expected to begin immediately. The company also has three other projects with a total capacity of more than 800 MW under construction in the region.

Cuba’s 10 MW of solar photovoltaic project has received a capacity boost to 15 MW. The Abu Dhabi Fund for Development (ADFD) financed the project. The project would supply clean electricity for around 10,000 households in Cuba. The funding is a part of ADFD’s commitment of $350 million to support renewable energy uptake in developing countries. The project has been scaled up with the savings from the concessionary loan of $15 million provided by ADFD under the second cycle of the IRENA-ADFD project facility, and the government of Cuba financed the remaining share.

IFC, a member of the World Bank Group, has provided a loan worth $225 million to FirstRand Bank Limited to support energy-efficient and water-smart projects in South Africa. FMO, a Dutch development bank, provided $75 million as a part of the loan. The funding is part of IFC’s objective to develop South Africa’s climate finance market and to support its plan to shift towards a low-carbon economy.

Able Grid Energy Solution, a battery energy storage developer, MAP Energy, and Astral Electricity have announced the commencement of the 100 MW Chisholm grid battery energy storage system project located in Fort Worth, Texas. The project is expected to begin its commercial operation in mid-2021. Mortenson secured the contract of battery installation and balance of plant (BOP) for the Chisholm grid facility. The work has begun on site for the balance of plant and high voltage transmission components.

Here is our previous daily news wrap-up.