Today’s renewable energy news includes announcements from TotalEnergies, Korean Power, Sonnen and Solrite, and others.
TotalEnergies Books $700 mn Impairment on Offshore Wind Portfolio
TotalEnergies has taken a $700 million impairment charge linked to parts of its offshore wind portfolio, reflecting revised project economics and market conditions. The write-down highlights ongoing cost pressures across the offshore wind sector, including higher financing costs, supply chain inflation, and evolving regulatory frameworks. Despite the hit, TotalEnergies reaffirmed its long-term commitment to renewable energy and offshore wind development, positioning the adjustment as a financial recalibration rather than a strategic retreat. The move underscores broader industry challenges as developers adapt to shifting market dynamics while advancing large-scale projects. For investors and stakeholders, the impairment signals the importance of disciplined capital allocation and risk management. Offshore wind remains central to global energy transition and decarbonisation strategies, despite near-term financial headwinds.
Korean Power Firm Takes Stake in 390-MW Sinan Ui Offshore Wind Project
A major Korean power company has acquired a stake in the 390-MW Sinan Ui offshore wind project, strengthening domestic investment in South Korea’s expanding offshore wind sector. The move underscores growing utility participation in large-scale renewable developments as the country accelerates its clean energy transition. The Sinan Ui project is part of South Korea’s broader push to build significant offshore wind capacity along its southwestern coast. The equity investment enhances project financing certainty and supports long-term development progress. For the power market, the project will contribute low-carbon electricity, improved energy security, and reduced reliance on fossil fuels. The transaction reflects rising confidence in Korea’s offshore wind pipeline and highlights strategic partnerships as key to delivering utility-scale renewable infrastructure.
Sonnen and Solrite Launch Battery-Only Virtual Power Plant in Texas
Sonnen and Solrite Energy have launched a battery-only virtual power plant (VPP) in Texas, enabling residential energy storage systems to provide grid services without paired solar installations. The initiative aggregates distributed home battery systems to deliver flexible capacity and support grid reliability during peak demand. The Texas VPP reflects growing demand for distributed energy resources (DERs) that enhance resilience and reduce strain on the power system. For homeowners, participation offers potential energy bill savings, backup power benefits, and grid service incentives. For utilities and grid operators, the programme provides fast-response capacity to stabilise supply in a high-demand market. The launch underscores the expanding role of battery storage and VPP platforms in advancing decentralised energy solutions and strengthening energy security in competitive electricity markets.
FAHEEMA P