Today’s renewable energy news includes announcements from European Energy, World Bank, Grenergy, among others.
European Energy Secures Financing for 130-MW Solar and Battery Storage Project in Australia
European Energy has secured financing for the 130-MW Mokoan Solar Farm and Battery Energy Storage System (BESS) project in Victoria, Australia, marking a significant milestone in the company’s expansion in the Australian renewable energy market. The project combines large-scale solar generation with battery storage to deliver clean, reliable, and flexible electricity to the grid. The hybrid facility will integrate a 130-MW solar power plant with a utility-scale battery energy storage system, enabling excess renewable energy to be stored and dispatched during periods of high demand. This approach will enhance grid stability, improve energy reliability, and maximize the value of renewable energy generation while reducing dependence on fossil-fuel-based power sources. The financing package was arranged with support from leading financial institutions, reflecting strong investor confidence in Australia’s growing renewable energy sector and the increasing importance of solar-plus-storage projects in the country’s energy transition. Once operational, the Mokoan project will contribute to reducing carbon emissions, strengthening energy security, and supporting Victoria’s renewable energy targets. The development also highlights the growing role of battery storage in facilitating higher penetration of renewable energy while creating local employment and economic opportunities during construction and operation.
World Bank Approves Funding for 300-MW Pumped Storage Project in Morocco
The World Bank has approved USD 265 million in financing to support the development of the 300-MW Ifahsa Pumped Hydropower Storage Project in northern Morocco, one of the largest clean energy storage projects in Africa. Located near Chefchaouen, the project is designed to strengthen grid reliability and support Morocco’s rapidly growing renewable energy sector. The pumped-storage facility will store surplus electricity generated from solar and wind plants by pumping water to an upper reservoir during periods of high renewable generation. The stored water will then be released through turbines to generate electricity during peak demand periods, providing flexible and dispatchable clean energy. A key benefit of the project is its ability to enable the integration of at least 1 GW of additional solar and wind capacity into Morocco’s national grid while improving energy security and reducing dependence on fossil fuels. The project is expected to displace approximately 3 TWh of fossil-fuel-based electricity annually, avoiding around 1.7 million tonnes of CO₂ emissions each year. It is also projected to attract nearly USD 1 billion in private investment and create significant employment opportunities during construction and operation.
Grenergy Launches Auction for 1.5 TWh of Solar and Battery Storage Power in Chile
Spanish renewable energy company Grenergy has launched a reverse auction to sell 1.5 TWh of electricity annually from its solar and battery storage assets in Chile, targeting electricity retailers, generators, and large industrial consumers seeking long-term clean energy supply. The auction is being managed through Grenergy’s energy marketer, GR Power. The offering includes 960 GWh per year of nighttime electricity supplied from battery energy storage systems (BESS) and 540 GWh per year of solar photovoltaic generation. Electricity deliveries are scheduled to begin between the second and third quarters of 2028, providing buyers with access to both daytime solar power and dispatchable stored energy. The energy will come from Grenergy’s flagship Oasis de Atacama and Central Oasis solar-plus-storage portfolios in northern and central Chile. Participants can bid for volumes in 20-GWh increments and select contract durations ranging from six to fifteen years. Applications remain open until 22 July 2026. The auction reflects the growing role of battery storage in Chile’s power market, helping reduce renewable energy curtailment, improve grid flexibility, and support the country’s transition toward a more reliable and low-carbon electricity system. Chile’s renewable energy share recently reached 47.3 percent of electricity generation, highlighting strong demand for large-scale storage solutions.
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