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Daily News Wrap-Up: India Adds 518 MW of Solar Open Access in Q1

India added 518 MW of solar open access in the first quarter (Q1) of the calendar year 2023, marking a remarkable increase of more than 68% compared to the 308 MW...

June 9, 2023

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Mercom India

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Daily Wrap-up
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Power Utility AES Corporation Acquires 2 GW Solar Plus Storage Project in US

The AES Corporation (AES), a U.S.-based utility and power generation company, has acquired ownership of the Bellefield solar-plus-storage project with a capacity of 2 GW...

June 8, 2023

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Gautamee Hazarika

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Energy Storage

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Markets & Policy

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Solar
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Demand for Clean Hydrogen in US to Grow to 50 MMT by 2050

The demand for clean hydrogen (H2) is set to grow by 10 million metric tons (MMT) annually by the end of the decade in the United States, while it will rise to 20 MMT...

June 7, 2023

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Gourav Mishra

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Markets & Policy

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Other Energy
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IEA Forecasts Global Renewable Capacity Additions to Soar by 107 GW in 2023

Global renewable capacity additions are set to soar by an unprecedented 107 GW to over 440 GW in 2023. This growth is driven by expanding policy support, concerns over...

June 6, 2023

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Arjun Joshi

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Markets & Policy

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Renewable Energy
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LG and Hyundai to Build $4.3 Billion Battery Cell Manufacturing Unit in US

LG Energy Solution (LGES) and Hyundai Motor Group have announced a joint venture to manufacture electric vehicle (EV) battery cells in the United States. The partnership...

May 29, 2023

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Gautamee Hazarika

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Energy Storage

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Market & Policy
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Ørsted Buys Eversource Offshore Wind Seabed Share for $625 Million

Denmark-based renewable energy developer Ørsted has inked a $625 million deal to buy out Eversource Energy’s 50% stake in a federal offshore wind lease area they...

May 29, 2023

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Arjun Joshi

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Finance and M&A

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Wind
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Chinese Low-Cost Solar Exports Challenge US, EU and India Reshoring Policies

China’s solar exports surged by 64% to $52 billion in 2022, on the back of low-cost supply and technological expertise, despite global trade tensions, according to a...

May 23, 2023

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Satish Shetty

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Manufacturing

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Markets & Policy

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Solar
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Solar Manufacturing Scaled Enough in 2022 to Meet 2030 Demand: IEA

The current global project pipeline for solar energy is capable of accommodating the deployment needs by 2030 if the utilization rates increase to 85% on average, under...

May 23, 2023

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Gourav Mishra

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Other

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Renewable Energy
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Residential Solar Firm Suntuity to Go Public Via $190 Million SPAC Deal

Suntuity Renewables, a U.S.-based residential solar company, has reached a $190 million business combination deal with Beard Energy Transition Acquisition Corp., a...

May 22, 2023

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Arjun Joshi

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Finance and M&A

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Solar
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US Announces $11 Billion Funding for Clean Energy in Rural Communities

The U.S. Department of Agriculture (USDA) announced nearly $11 billion in funding to help bring affordable renewable energy to rural communities nationwide. One of the...

May 17, 2023

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Arjun Joshi

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Markets & Policy

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Other
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Biden Vetoes Legislation to Block Solar Module Import Tariff Waivers

United States President Joe Biden has vetoed a resolution that would halt a Commerce Department rule temporarily suspending tariffs on solar modules imported from...

May 17, 2023

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Arjun Joshi

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Markets & Policy

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Solar
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Solar, Wind, BESS Projects Using Made-in-US Content Eligible for a 10% Bonus

Solar, wind, and battery energy storage systems (BESS) projects in the United States will be eligible for a bonus credit of 10% of the project cost if they meet domestic...

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US Coal Plants Capacity Could Fall by 88% by 2050 as Renewables Rise

The capacity of coal-fired power plants in the United States could reduce by ~88% from the 2022 levels by 2050, as environmental regulations raise costs and new plants...

May 12, 2023

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Arjun Joshi

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Other

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Other Energy
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Verizon Issues its Fifth $1 Billion Green Bond Tranche

Telecommunications company Verizon Communications has announced its fifth green bond offering for $1 billion, with the net proceeds directed toward renewable energy...

May 10, 2023

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Arjun Joshi

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Finance and M&A

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Renewable Energy
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NextEra to Sell its Natural Gas Assets to Focus Solely on Renewables

U.S.-based energy firm NextEra Energy announced that it would focus solely on growing its renewable energy portfolio and sell off its STX Midstream and Meade natural gas...

May 9, 2023

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Arjun Joshi

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Other

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Renewable Energy

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