Today’s renewable energy news includes announcements on Cubico, CFE, Georgia Power, OpenAI, Highway Holdings, among others.
Cubico, CFE Sign $1 bn Deal for 578 MW Solar Projects
Cubico Sustainable Investments has signed a joint venture agreement with Mexico’s Federal Electricity Commission (CFE) to develop 5 solar projects totalling 578 MWac. The partnership represents an investment of around USD 1 billion and marks a significant expansion of renewable energy infrastructure in Mexico. Under the agreement, Cubico and CFE will collaborate on developing the portfolio, combining private-sector renewable energy expertise with Mexico’s state-owned electricity utility. The 578-MWac portfolio is expected to increase clean electricity generation while supporting Mexico’s growing power requirements and energy-transition objectives. The agreement also demonstrates continued investment interest in the country’s utility-scale solar sector, with the 5 projects set to contribute new renewable capacity and strengthen Mexico’s long-term electricity supply infrastructure.
Georgia Power Signs 25-Year Deal to Supply 3,200 MW for OpenAI’s $20 Billion AI Data Center in Georgia
Georgia Power has signed a 25-year agreement to supply electricity to OpenAI’s new Project Camellia data center campus in Effingham County, Georgia, highlighting the rapidly rising energy demand from artificial intelligence infrastructure. The facility is expected to require approximately 3,200 MW of electricity, with power delivered in phases between 2028 and 2032. OpenAI will fund all infrastructure and electric service costs while committing up to 1,000 MW of flexible demand response to help maintain grid reliability during peak periods. The $20 billion project is expected to create thousands of jobs and generate billions of dollars in local investment while protecting existing customers from project-related infrastructure costs.
Highway Holdings Forms Majority-Owned Energy Storage Venture Targeting $198 Billion BESS Market
Highway Holdings has signed a letter of intent with Guangdong Huahu New Energy Technology to establish a majority-owned battery energy storage joint venture in Hong Kong. Highway Holdings will own 57 percent of the venture, while Huahu will hold 43 percent. Initial contributions are valued at US$3.5 million, including approximately US$2 million in cash from Highway Holdings and US$1.5 million in products and technology transfer from Huahu. The venture will receive exclusive SKD manufacturing, marketing and distribution rights for Germany, Italy, the United States and selected South American markets. The agreement also allows Huahu to receive up to 400,000 restricted Highway Holdings shares upon achieving milestones. The companies are targeting the global BESS market, projected to expand from US$89 billion to about US$198 billion over the next five years.
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