Today’s renewable energy news includes announcements on Oman Future Fund, Atlantic Energy, Terra-Gen, Lockhart Solar PV IV project, among others.
Oman Future Fund Unveils $1.744 Billion Investment Package Across 105 Projects
Future Fund Oman (FFO), backed by the Oman Investment Authority, has announced 105 strategic projects and investments worth $1.744 billion from its $5.2 billion fund to accelerate economic diversification under Oman Vision 2040. The investment package spans renewable energy, manufacturing, tourism, logistics, food security, mining, healthcare, technology and other priority sectors. Established in 2024 with capital of $5.2 billion, the fund aims to attract foreign investment, support private sector growth and create sustainable economic opportunities. The latest investment round highlights Oman’s continued focus on expanding non-oil industries through large-scale strategic funding initiatives.
Atlantic Energy Expands PJM Presence with Summer Energy Customer Acquisition
Atlantic Energy Group has completed the acquisition of a portfolio of commercial electricity customers from Summer Energy, strengthening its retail energy business across Illinois, Ohio and Pennsylvania. The transaction expands Atlantic Energy’s footprint within the PJM competitive electricity market and supports its long-term growth strategy. The acquired customer portfolio enhances the company’s commercial energy business while reinforcing its position in deregulated electricity markets. Atlantic Energy said the acquisition reflects its continued investment in expanding customer reach and delivering competitive energy solutions to businesses across key U.S. states. Financial terms of the transaction were not disclosed.
Terra-Gen Brings 80 MW Lockhart Solar PV IV Online, Expanding Renewable Energy Hub Beyond 530 MW
Terra-Gen has achieved commercial operations for its 80 MW Lockhart Solar PV IV project in San Bernardino County, California, expanding the total Lockhart Solar and Storage facility to more than 530 MW. The integrated complex now comprises 365 MW of solar generation and 173.7 MW of battery energy storage, supplying enough electricity to power approximately 40,000 homes and businesses annually under a long-term power purchase agreement. Construction created more than 220 jobs and completed over 122,000 work hours without a lost-time incident. Terra-Gen’s operating portfolio totals 4.2 GW of renewable generation and 5.6 GWh of energy storage, with more than 15 GW under development.
FranklinWH Selected for Two Texas Virtual Power Plant Programs
FranklinWH Energy Storage has been selected for two new Texas virtual power plant (VPP) programs launched by Austin Energy and Entergy Texas, enabling homeowners to earn incentives by supplying stored battery power during peak electricity demand. Austin Energy customers receive a $500 upfront incentive, average annual payments of more than $300, and $75 per kilowatt of average output delivered during demand response events. The pilot supports up to 1,500 systems and targets 78 MW of demand response capacity by 2027 and 270 MW by 2035. Entergy Texas customers can earn up to $325 annually while helping improve grid reliability and renewable energy integration.
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