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Shell has announced that it will be selling its assets at Bukom and Jurong Islands, as well as its interest in the energy and chemical plant in Singapore, to CAPGC, a joint venture company between Chandra Asri Capital and Glencore Asian Holdings. The sale is expected to be completed by the end of 2024. The financial details of the transaction have not been disclosed, but media reports estimate the sale to be around $1 billion. Shell remains committed to Singapore as an important regional hub for its marketing and trading businesses, and will continue to support the country's energy needs through LNG supply and trading. [Extracted from the article]

The European Union (EU) has given approval for Swedish state aid of €265 million ($283.5 million) to H2 Green Steel (H2GS) for the construction of a hydrogen-powered green steel plant in northern Sweden. The funding will be disbursed under Sweden's national recovery and resilience facility. H2GS has secured a €6.5 billion financing package for the Boden Green Steel Plant, which is expected to be operational by the end of 2025. The company has also entered into offtake agreements with various partners, including Rio Tinto, Vale, Cargill, Mercedes-Benz, and IKEA. [Extracted from the article]

OX2 and Varberg Energi have signed a Letter of Intent (LOI) to establish Power Purchase Agreements (PPAs) for domestic offshore wind and solar PV projects in Sweden. Varberg Energi plans to purchase electricity generated by OX2's Galene Offshore Wind Farm, which has received government consent and is projected to produce 1.7TWh per year. Additionally, Varberg Energi is seeking agreements for solar PV projects in Halland. The CEO of Varberg Energi highlights the company's flexibility and ability to deliver renewable energy, and emphasizes the importance of producing renewable energy in the same area where it is used. Varberg Energi is owned by Varberg municipality and is actively seeking CPPAs with businesses for wind power offtake. [Extracted from the article]

EverGen Infrastructure, a renewable energy producer, has signed a 20-year agreement with FortisBC Energy to supply renewable natural gas (RNG) in Canada. FortisBC will purchase RNG from EverGen to inject into its natural gas system. EverGen has also entered into a 10-year offtake contract with Irving Oil. The RNG will be produced at the Grow the Energy Circle (GrowTEC) facility on the Perry Family Farm in Alberta. FortisBC is expanding its methane capture infrastructure at the Delta landfill to produce RNG for the City of Vancouver. The project is expected to begin operations in late 2024. [Extracted from the article]

A consortium led by Equis Development has signed a 15-year offtake agreement for a 140MWh battery energy storage project in Jeju, South Korea. The project, which includes partners Korea East-West Power, Jeju Energy Corp, and LG Energy Solution, is set to be the largest of its kind on Jeju Island and the first under the newly created capacity market structure. Equis is also preparing for upcoming battery energy storage system auctions on mainland Korea. The company is backed by investments from the Abu Dhabi Investment Authority and Ontario Teacher's Pension Plan. [Extracted from the article]

German renewables developer PNE is launching a tender to secure long-term offtake agreements with industrial clients for 9 onshore wind and solar projects in Germany. The company is seeking price bids for the sale of 300GWh of renewable power per year from both existing and new construction projects. The wind farms and solar PV parks are expected to begin generating power in 2026. PNE is working with energy market consultancy Enervis to determine the terms and prices during the tender process, which is set to be completed by October 2024. PNE recently obtained state subsidies for the development of 26.4MW of onshore wind capacity and has several wind farms under construction and in permitting stages in Germany and France. [Extracted from the article]

Conifer Infrastructure Partners has led a $40 million Series B fundraise into M2X Energy, a Florida-based developer of low-carbon methanol production systems. The fundraise was supported by M2X's Series A investors, including Breakthrough Energy Ventures, Eni Next, SCG AddVentures, and Autodesk Foundation. The funds will be used to deploy M2X's first fleet of transportable products, which produce low-carbon methanol from stranded methane. M2X is sourcing biogas feedstocks from various sources and expects to begin production in early 2025. [Extracted from the article]

Microsoft has signed multiple long-term corporate power purchase agreements (CPPAs) with European Energy, a company backed by Mitsubishi Capital. These agreements are related to a portfolio of wind and solar assets in Denmark and Sweden, totaling 180.6MW. The CPPAs will deliver over 3.6TWh of renewable energy, supporting Microsoft's goal of becoming carbon negative by 2030. European Energy has developed the Nordic region's first utility-scale hybrid wind and solar project as part of this portfolio. Microsoft has also entered into other corporate offtake agreements for renewable energy with Repsol, Brookfield, and Lightsource bp. Mitsubishi Capital recently acquired a 20% stake in European Energy. [Extracted from the article]

Japanese corporate Itochu has made its first investment from its North America renewables-focused fund, Overland Capital Partners. The fund acquired a 50% equity interest in the 211MW Grandview Wind Farm in Texas from a subsidiary of BlackRock. The project is now jointly owned by the fund and a subsidiary of RWE Clean Energy, with RWE continuing as the operator and asset manager. Itochu has an investment target of $2 billion for the fund, with Tokyo Century, Sumitomo Mitsui Trust Bank, Fuyo General Lease, and Tokyu Land Corporation as investors. Itochu has also established a joint venture with Tokyo Century to fund and develop US solar projects. [Extracted from the article]

NextDecade has signed a 20-year sale and purchase agreement (SPA) with Aramco to supply LNG from Train 4 at the Rio Grande LNG Facility in Texas. The agreement is non-binding and Aramco will offtake 1.2mtpa of LNG indexed to Henry Hub on a free-on-board basis. NextDecade has also secured several other sale-purchase agreements with international energy companies. Construction on the Rio Grande project began in October 2023 and the first train is expected to be completed in 2027. Abu Dhabi National Oil Company (ADNOC) has acquired an 11.7% stake in phase 1 of the project and has the option for equity participation in future trains. [Extracted from the article]

SNCF Energie, the green energy supply arm of state-owned railway operator SNCF Voyageurs, has signed a 25-year offtake agreement with Neoen for a 139MW agrivoltaic project in central France. The project, called Le Couret Solar Park, will be one of the largest solar parks operating under a corporate power purchase agreement (PPA) with SNCF. The solar panels will be installed on a 150-hectare site that will also be used for sheep grazing. Construction is set to begin in 2026, with commissioning scheduled for 2028. [Extracted from the article]

Mercury NZ, a power generation utility based in Auckland, is expanding its Kaiwera Downs wind farm in New Zealand by 155MW, bringing the total capacity to 198MW. The project, with a budget of NZ$486 million ($381m), is expected to start construction this month and be completed by the end of 2026. Mercury has signed a 20-year offtake agreement for the project with New Zealand Aluminum Smelters. Additionally, Rio Tinto is in the process of acquiring Sumitomo Chemical Co's interest in NZAS, which will result in NZAS being 100% owned by Rio Tinto. [Extracted from the article]

Sembcorp Industries, a Singapore-based industrial and renewables developer, has signed an agreement to sell green ammonia produced in India to a Japanese consortium. The agreement, which was signed at the Indo-Pacific Economic Framework (IPEF) Clean Economy Investor Forum, builds on a previous memorandum of understanding (MoU) between Sembcorp and the consortium. Sembcorp Green Hydrogen, a subsidiary of Sembcorp Industries, will produce 200,000 metric tons per annum of green ammonia in India for use in Japan. The consortium is currently preparing to award the contract for the front-end engineering design (FEED) process. [Extracted from the article]

Leeward Renewable Energy (LRE) has signed a 15-year agreement with Pacific Gas & Electric Company for its Sierra Pinta Energy Storage Project in Arizona. The project, which is co-located with LRE's White Wing Ranch Solar project, will provide power to more than 90,000 homes for 4 hours during peak hours. Construction is expected to begin in September 2023, with the project coming online in early 2025. LRE owns and operates 32 renewable energy facilities across the United States. [Extracted from the article]

Equinor and Ørsted have finalized purchase and sale agreements with the New York State Energy Research and Development Authority (NYSERDA) for two offshore wind projects totaling 1.734GW. The Empire 1 project, with a capacity of 810MW, and the Sunrise Wind project, with a capacity of 924MW, were awarded conditional agreements earlier this year. The projects received indexed OREC strike prices for the duration of the 25-year contract. Both projects will invest in disadvantaged communities, support minority-owned businesses, and enhance the workforce. The approvals from the Bureau of Ocean Energy Management and the New York State Public Service Commission allow the developers to begin construction and plan for project financing. [Extracted from the article]

Investment firm Aethon Energy Management has agreed to acquire Tellurian's integrated upstream assets for $260 million. They have also signed a Heads of Agreement (HoA) to purchase 2 million tons per annum (mtpa) of LNG from Tellurian's Driftwood LNG plant. The targeted assets to be acquired are located in Louisiana Haynesville and Bossier shale basins, spread over 31,000 net acres, and capable of processing 100 million cubic feet per day (mmcf/d) in the gathering and treating systems. The transaction is expected to close in Q2 2024, and the proceeds will be used to reduce Tellurian's borrowings and for general corporate purposes. [Extracted from the article]

Microsoft has entered into a 15-year power purchase agreement with RWE to buy power from two onshore wind farms in Texas. The wind farms, Peyton Creek II and Lane City, have a combined capacity of 446MW. Construction of the projects is being carried out by Vestas North America, Wanzek Construction, and RES. Once completed, these projects will increase RWE's renewable energy portfolio in Texas to 4.8GW. RWE also recently announced the acquisition of a 599MW solar and battery storage portfolio from Galehead Development. [Extracted from the article]

Amazon has signed a power purchase agreement (PPA) to purchase all of the electricity generated by the 150MW Fox Squirrel solar phase 1 plant in Ohio. The plant, developed by EDF Renewables and owned in partnership with Enbridge, is the largest onshore renewable energy project developed by EDF Renewables North America. The PPA will not only power Amazon's operations but also provide carbon-free energy to the local communities. The project is expected to be completed by the end of 2024, with a total capacity of 577MW. [Extracted from the article]

US-based data centre provider Digital Realty has signed five long-term agreements to purchase wind and solar power for its operations in France and Spain. The agreements include three power purchase agreements (PPAs) with BRUC in Spain for PV parks in Cadiz and Zaragoza, and two wind PPAs with wpd in France for onshore wind farms in Bretagne and Hauts-de-France. Digital Realty will purchase a total of 347GWh per year, equivalent to the consumption of around 200,000 households. The company has been using 100% renewable energy for its European operations since 2020 and has 15 renewable energy PPAs worldwide. [Extracted from the article]

Iberdrola and Bayer have signed an 11-year power purchase agreement (PPA) for solar PV assets in Italy. Under the agreement, Bayer will procure 33GWh of green electricity, ensuring that its pharmaceutical plant in Milan operates entirely on renewable energy. This PPA is linked to Iberdrola's second solar plant in Italy, the Montefiascone Solar PV Plant. Iberdrola also has existing corporate offtake agreements with Bayer in Spain and Mexico, as well as other solar PPAs in Italy. The company aims to have an operational capacity of 400MW in Italy by 2025. [Extracted from the article]

Spanish utility Iberdrola has signed a contract with Havfram to install turbines for a 315MW offshore wind project in the German Baltic Sea. Havfram will transport and install 21 Siemens Gamesa turbines, each with a capacity of 15MW, at the Windanker Offshore Wind Farm. The project is scheduled to go live in late 2026. Iberdrola plans to contract out most of the wind farm's output through power purchase agreements on the German market. [Extracted from the article]

Abu Dhabi National Oil Company (ADNOC) has acquired an 11.7% stake in phase 1 of NextDecade's Rio Grande LNG project through an investment vehicle of Global Infrastructure Partners (GIP). NextDecade will retain its expected economic interest in phase 1 and its interest in the train 4 and 5 expansions. ADNOC has also secured a 20-year LNG offtake agreement for 1.9 million tons per annum from Rio Grande LNG train 4. The project financing for Rio Grande phase 1 is the largest greenfield energy project financing in US history, totaling $18.4 billion. [Extracted from the article]

South Korea is considering expanding regulations to legalize the development of offshore wind projects. The Ministry of Trade, Industry and Energy has announced plans to enact the Special Act Offshore Wind Power to legalize offshore wind farms. The country aims to supply renewable energy facilities with an average capacity of 6GW by 2030, including 46.5GW of solar and 14.3GW of offshore wind. The government plans to announce bid capacity, timing, and evaluation criteria for the next two years in July 2024. South Korea currently uses fixed-price auctions for offshore projects and has a long-term goal of transitioning to a fixed bidding method. [Extracted from the article]

China Petroleum and Chemical Corporation (Sinopec) is in talks with Pembina Pipeline to potentially acquire an equity stake and enter into an LNG offtake agreement for the Cedar LNG project in Canada. Sinopec is seeking to diversify its portfolio and is considering purchasing half of Cedar LNG's production. Cedar LNG, located in British Columbia, is a partnership between Pembina and the Haisla Nation to develop a floating LNG facility. The project has a capacity of 3.3 million tonnes per annum and aims to make a final investment decision by mid-2024. Pembina is also in negotiations with other customers to assign its capacity to a third party. [Extracted from the article]

Vitol, a global energy and commodities company, has signed an agreement with GeoPark, a Colombian oil company, for the purchase of a minimum of 20,000 barrels of oil per day. The oil will come from GeoPark's Llanos 34 Block, which is a significant contributor to Colombia's national oil output. As part of the agreement, GeoPark will receive immediate funding of up to $300 million from Vitol, with the option to increase it by another $200 million. The agreement will begin on July 1, 2024, and last for a minimum of 20 months, with the possibility of extension. [Extracted from the article]

Carey International Group (CIG) has hired Christopher Kane as its chief investment officer to oversee the growth of its US renewables and real estate portfolio. Kane will be responsible for making investment and capital decisions for CIG-owned subsidiaries, CIG Renewables and CIG Development, as well as managing commercial real estate and energy projects. He brings extensive experience in real estate investment and structuring transactions, as well as expertise in infrastructure and renewables. CIG Renewables currently has a portfolio of projects in the real estate and energy sectors, including a 3GW pipeline of grid-scale solar projects in the US. [Extracted from the article]

Atlantic, Gulf & Pacific Terminals and Logistics (AG&P LNG) is in the process of commissioning the Cai Mep LNG terminal in Vietnam. The terminal, which has a capacity of 3 million metric tons per annum (MTPA), is expected to begin commercial operations by September 2024. AG&P LNG partnered with Vietnamese firm Hai Linh to establish the SPV Vietfirst Gas and has signed a second definitive LNG offtake agreement for 1 MTPA. The terminal, which has a total storage capacity of 220,000 cubic meters of LNG, is connected to the Phu My industrial zone and the Phu My gas-fired power plant. AG&P LNG acquired a 49% stake in the terminal earlier this year and has executed additional letters of intent for downstream LNG distribution. AG&P LNG is a subsidiary of Nebula Energy, based in Florida. [Extracted from the article]

CapturePoint and Energy Transfer have signed a letter of intent to develop a carbon capture and storage project in Louisiana. The agreement includes a CO2 offtake agreement for Energy Transfer to supply CO2 from its natural gas facilities to CapturePoint's Central Louisiana Regional Carbon Storage Hub. The hub has the potential to permanently sequester 700 million tons of CO2 and will initially capture emissions from natural gas processing facilities and other industrial sources in the area. CapturePoint also recently sold 100% of the tax credits generated by CO2 capture at its facility in Kansas. [Extracted from the article]

Belgian mining company Umicore has signed a 10-year power purchase agreement (PPA) with Finnish utility Gasum to procure additional green electricity for its plant in Finland. Gasum will supply 35GWh of electricity per year to Umicore's site in Kokkola, generated by an onshore wind farm. This agreement is the second offtake agreement between Umicore and Gasum for the Kokkola plant, with the aim of achieving net-zero emissions by 2035. Umicore is actively involved in battery materials production and recycling, catalysis, and the supply of specialty materials for clean mobility. [Extracted from the article]

Alternus Clean Energy, a utility-scale independent power producer, is set to acquire over 80MW of operating solar projects in the US from C2 Energy Capital for $60 million. The portfolio consists of 33 projects across 8 states, all of which have offtake agreements with 16 counterparties, including Duke Energy, with an average remaining term of 12 years each. Alternus will finance the acquisition with $15 million and by assuming and restructuring project debt. In addition, Alternus recently entered a joint venture partnership with Acadia Energy to develop 200MW of microgrid projects in New York State, with Alternus holding a 51% majority stake. The company is also currently searching for a new CFO. [Extracted from the article]

German thermoplastic composites manufacturer Ensinger has signed a 10-year power purchase agreement (PPA) with RWE Supply & Trading. Under the agreement, Ensinger will procure approximately 30GWh per year from RWE's Kaskasi Offshore Wind Farm, located off the North Sea archipelago of Heligoland. This PPA will cover nearly half of Ensinger's energy needs in Germany. RWE commissioned the Kaskasi wind farm in late 2022, and it is capable of supplying electricity equivalent to the needs of 400,000 households. The Kaskasi wind farm is part of the RWE Heligoland cluster, which also includes Amrumbank West and Nordsee Ost. [Extracted from the article]

WEC Energy Group has acquired a 90% stake in the 300MW Delilah I Solar Energy Center from Invenergy for $459 million. The solar energy center is located in Texas and is expected to be operational by the end of June 2024. Delilah I is part of the larger Samson & Delilah solar portfolio, which includes multiple phases and is set to generate renewable energy under a long-term power purchase agreement. WEC Energy Group's investment in Delilah I is eligible for production tax credits, pending regulatory approval. WEC Energy Group has investments in 11 solar and wind projects with a total capacity of over 2GW. [Extracted from the article]

Procter & Gamble has entered into an agreement with Renewable Power Capital to purchase green electricity from a 140MW onshore wind project in northern Sweden. The 10-year power purchase agreement (PPA) will provide over 90% of the output from the Sörlidberget Wind Farm. This project is part of a larger portfolio of Swedish onshore wind projects acquired by Renewable Power Capital in 2022. The other three facilities in the portfolio are the Knäsjöberget Wind Farm, Vitberget Wind Farm, and Storhöjden Wind Farm. Nordex has been contracted to supply turbines for the wind park complex, with delivery and installation scheduled for spring 2025. The facilities are expected to begin operation between late 2025 and early 2026. Renewable Power Capital has now contracted out almost 100% of the production from the cluster, enabling the construction of the other assets. The company has also secured existing power purchase agreements with Ardagh and LyondellBasell for other wind farm projects in the portfolio. [Extracted from the article]

Deutsche Bahn (DB) has signed power purchase agreements (PPAs) with Statkraft to purchase approximately 500,000MWh of green power. Between 2024 and 2026, DB will receive around 147,000MWh from three German onshore wind farms located in Lower Saxony, Hesse, and Brandenburg. From 2027 to 2034, DB will procure green electricity from two Statkraft run-of-river hydropower plants in Lower Saxony, amounting to more than 350,000MW over an eight-year period. Previous agreements between Statkraft and DB include a 10-year cross-border PPA from 2023 and a one-year PPA in 2021. DB has also recently signed a five-year cross-border PPA with Uniper for power generated by hydropower plants in Sweden. [Extracted from the article]

Boeing has made its largest purchase of sustainable aviation fuel (SAF) from Neste, buying 9.4 million gallons for its ecoDemonstrator program and 2024 US commercial operational flights. This purchase comes as the demand for SAF increases, with other companies also entering the sector. Boeing's purchase consists of 30% SAF made from waste by-products and 70% conventional jet fuel. Additionally, Boeing will purchase the CO2 emissions reduction associated with 5.4 million gallons of blended SAF through an accounting process called book-and-claim. [Extracted from the article]

NextEra Energy has signed an agreement with Guzman Energy and Holy Cross Energy (HCE) for the Bronco Plains II wind project in Colorado. The 200MW wind farm, set to become operational in late 2023, will provide power to up to 40,000 households. The agreement will split the wind energy between HCE and Guzman Energy based on the time of year, with HCE receiving 150MW in the winter and 100MW in the summer, and Guzman Energy receiving 50MW in the winter and 100MW in the summer. The energy provided to HCE will contribute to their goal of achieving 100% clean energy by 2030. Guzman Energy has also recently signed power sales agreements with other utilities in Colorado. [Extracted from the article]

Reden Solar, backed by Macquarie, has signed a power purchase agreement with Italian IPP Renantis for a 90MW solar PV portfolio in Italy. The agreement covers the output of Reden's 11 solar PV parks, which will have a combined annual production of 130GWh. The plants are located in Northern, Central, and Southern Italy. Reden focuses on repurposing previously polluted sites and revitalizing abandoned areas to promote regional sustainability. The company also secured a €264 million green loan in March 2023 to support its 255MW solar PV portfolio in Italy. Reden Solar operates in several other countries, including Spain, Portugal, Greece, Germany, Mexico, Puerto Rico, and Chile. [Extracted from the article]

EnBW has signed a power purchase agreement (PPA) with Stahl-Holding-Saar (SHS) for the 960MW He Dreiht offshore wind farm in the German North Sea. Under the PPA, SHS will reserve 50MW per year for 15 years to decarbonize the operations of its subsidiaries Saarstahl and Dillinger. Construction on the wind farm is set to begin in May 2024, with commissioning expected by the end of 2025. EnBW has already secured PPAs for more than half of He Dreiht's capacity with other corporate offtakers. The project, which won the rights in Germany's first offshore tender in 2017, will be one of the largest renewable projects in Europe and will use 15MW turbines. [Extracted from the article]

Malaysia has launched the Energy Exchange Malaysia (ENEGEM) platform to export renewable energy to Singapore. The pilot project will initially export 100MW of energy through an auction process. Licensed electricity generators and retailers in the Singapore Electricity Market can participate in the auctions, with registration opening on April 16, 2024. Successful bidders will enter into a supply agreement with the Single Buyer, authorized by the Ministry of Energy Transition and Water Transformation (PETRA), to sell and purchase green energy. The transactions will adhere to the Guide for Cross-Border Electricity Sales issued by the Energy Commission. [Extracted from the article]

Distribution Logistics Infrastructure (DLI), a company owned by Infrastructure India (IIP), has received a loan recall notice from its lenders. If a satisfactory response is not received within two weeks, the lenders may initiate proceedings under the Insolvency and Bankruptcy Code of India. DLI had previously been given a grace period for debt servicing, which expired in February 2024. IIP attempted to sell DLI to Pristine Malwa Logistics Park, but the deal fell through. IIP is now in discussions with a third party for a proposed sale. IIP has invested £274.3 million in DLI, which is currently valued at £78.9 million. IIP plans to propose a managed wind-up at its upcoming AGM in May 2024. As of September 2023, IIP's investments were valued at £99.6 million, with net liabilities of £217.4 million. IIP extended the maturity of its credit facilities until May 15, 2024. [Extracted from the article]

Rhône Energies, a consortium of Entara and Trafigura Pte, is in exclusive negotiations to acquire the Fos-sur-Mer refinery and terminals in France from Esso. The refinery has a crude oil processing capacity of 140,000 barrels per day and benefits from direct access to a major port. The consortium plans to maintain the current workforce and enter a minimum 10-year exclusive crude oil supply and product offtake agreement with Trafigura. The proposed acquisition is subject to regulatory approvals and is expected to be completed by the end of 2024. Rhône Energies aims to improve the refinery's performance, invest in safety and sustainability, and enable the production of renewables. [Extracted from the article]

New Rise Renewables has opened a sustainable aviation fuel (SAF) facility in Nevada, which is expected to begin production in the summer of 2024. The facility will use sustainable vegetable oil feeds to produce renewable natural gas (RNG) for SAF production. XCF Global Capital, a global SAF producer, acquired New Rise Renewables in 2023 and plans to increase its production capacity to 150 million gallons per year by 2029. XCF also intends to become the only publicly listed SAF producer in the US through a SPAC deal with Focus Impact BH3 Acquisition Co. Other companies, such as Sumitomo and Aemetis, are also investing in SAF production facilities in Louisiana and California, respectively. [Extracted from the article]

Norwegian state-owned generator Statkraft has signed a virtual power purchase agreement (VPPA) with Spanish utility Iberdrola's US subsidiary Avangrid for the output of a 300MW onshore wind farm in Illinois. This marks the first agreement between Statkraft and Iberdrola in the US market. As part of the deal, Statkraft will purchase renewable energy certificates (RECs) tied to the output of Avangrid's Streator Cayuga Ridge South Wind Farm. This agreement is seen as a significant milestone for Statkraft's PPA business in the US market, and recent legislative changes in the US have increased the importance of PPAs in supporting the development of renewable energy assets. [Extracted from the article]

Downing Renewables & Infrastructure Trust (DORE) has secured a long-term corporate offtaker, Icelandic utility HS Orka, for a run-of-river hydro power plant in Iceland. The pay-as-produced power purchase agreement (PPA) is in effect until December 2032 and extends a previous agreement. Under the new contract, Orka will purchase the entire output of the Urðarfellsvirkjun plant, which generates 8GWh of electricity per year. DORE entered the Icelandic market in January 2024 with the acquisition of Urðarfellsvirkjun, aiming to diversify its portfolio and benefit from the country's inflation-linked take-or-pay offtake arrangements. [Extracted from the article]

Brazil's power sector regulator, Aneel, has received 95 expressions of interest for financing low-carbon hydrogen projects. This is the largest number of expressions of interest the regulator has received to date, and they came from various players in the electricity sector. Aneel's Strategic Call for Research, Development, and Innovation Projects aims to promote projects that explore the use of hydrogen in the electricity sector, with an emphasis on low-carbon sources. Brazil has recently seen activity in the green hydrogen sector, with Eletrobras and Paul Wurth signing an agreement to develop green hydrogen production in Rio de Janeiro. Hydrogen is important in Brazil for ammonia production and petroleum refining processes, and the country is a major importer of agricultural fertilizers. [Extracted from the article]

Mytilineos Energy & Metals, a Greek group, has entered into an agreement with Karatzis, a domestic netting packaging maker, to purchase 80% of the electricity generated from a 262MW solar PV portfolio in the Thessaly region of Greece. The deal involves the purchase of 210MW of power from 35 projects in Larissa prefecture, which are expected to be operational in Q3 2024. These projects will produce 380GWh annually, offsetting approximately 162,000 tonnes of carbon dioxide and providing electricity for around 97,000 households. The projects have been developed by Karatzis with an investment of €180 million, with €159.6 million provided through bank loans under the European Union's Recovery and Resilience Facility. Karatzis is partly financing the projects through a €125 million non-recourse loan from Eurobank. Construction of the facilities began in November 2023, and the EPC contract was awarded to Mytilineos M Renewables, a unit of the Mytilineos holding group. This is the second power purchase agreement (PPA) for Mytilineos in Greece, following a previous agreement with EDP Renewables for a 78MW portfolio of onshore wind farms. [Extracted from the article]

Fortescue Metals has missed its deadline for reaching the final investment decision (FID) on its Gibson Island green hydrogen plant in Queensland. This delay has also affected Genex Power's Bulli Creek Solar and Battery Project (BCP), as a condition precedent within the offtake agreement with Fortescue was not met. Despite the setback, Genex remains optimistic about the BCP and is actively engaged in discussions with external parties to secure additional solar offtake agreements. However, this situation highlights the challenges faced by renewable energy developers in navigating complex offtake agreements. [Extracted from the article]

EDP Renewables North America (EDPR NA) and Walmart have signed a 15-year power purchase agreement (PPA) for a portion of a 180MW solar project in Texas. Under the agreement, Walmart will purchase 162MW of power from the project, which is expected to provide electricity to over 27,000 homes annually. This is the latest PPA between the two companies, with a total procurement volume of 395MW. Walmart has a goal of achieving 10GW of new clean energy projects by 2030 and already has a portfolio of over 600 renewable projects worldwide. [Extracted from the article]

Marula Mining, an African battery metals mining company, has acquired a commercial interest in the Larisoro manganese mine in northern Kenya. The company has reached a binding terms sheet with Gems and Industrial Minerals (GIM), the owner of the mine, and plans to invest $1.5 million from its South African lithium mining operations to increase manganese ore production. Additionally, Marula will invest $1.75 million in an exploration program to assess and expand the mineral resources of the mine. Marula Mining has been expanding its presence in Africa, including a recent offtake agreement with Fujax UK. [Extracted from the article]

Danish renewables developer Better Energy has signed a 10-year power purchase agreement (PPA) with French DIY retailer Leroy Merlin in Poland. The agreement will provide Leroy Merlin with 14GWh of solar energy per year from the under-construction Chelmno solar park. Starting in January 2025, the PPA will cover 20% of Leroy Merlin Poland's energy consumption needs, reducing carbon dioxide emissions by 8,000 tonnes annually. This is Leroy Merlin Poland's first PPA and aligns with their strategy of social and environmental responsibility. Better Energy has over 60 PPAs to date and recently expanded its agreements with Statkraft for grid-connected solar PV parks in Poland. [Extracted from the article]