The latest renewable energy news includes announcements on Alcazar Energy, Druk Green, EGAT International, and others.
New York Awards Nearly $13 Million to 15 Advanced Battery Storage Projects
The New York State Energy Research and Development Authority has awarded nearly $13 million to 15 advanced energy storage projects under its Power Generation and Storage Innovation programme. The programme supports product development and demonstration projects involving advanced battery technologies and long-duration electricity storage. Selected technologies include systems designed to discharge electricity for more than 10 hours at rated power. The funding covers 15 separate projects rather than a single utility-scale installation. The programme focuses on developing and demonstrating storage technologies, including alternatives to conventional lithium-ion battery systems.
Alcazar Energy Secures $436 Million Financing for Two 250 MW Wind Farms in Egypt
Alcazar Energy Partners has secured $436 million in debt financing for two wind farms at Ras Ghareb on Egypt’s Red Sea coast, with total project investment of $626 million. The Niat and Rasgha projects will each provide 250 MW, taking combined capacity to 500 MW. The European Bank for Reconstruction and Development, European Investment Bank and Germany’s DEG will each provide one-third of the financing. Siemens Gamesa will supply and maintain the turbines, while Orascom Construction will handle civil and electrical works. Egyptian Electricity Transmission Company will purchase electricity under 25-year agreements at approximately 3 cents per kWh. The projects are expected to generate more than 2.3 TWh annually and begin operating by the end of 2028.
Druk Green and EGAT International Explore Up to $2 Billion Renewable Energy Investment in Bhutan
Bhutan’s state-owned Druk Green Power Corporation and Thailand’s EGAT International signed an agreement to explore investments of up to $2 billion in hydropower and solar energy projects in Bhutan. The November 9 development establishes a framework for the two companies to assess renewable-energy investment opportunities. Druk Green is Bhutan’s principal state-owned electricity generation company, while EGAT International undertakes overseas electricity investments for Thailand’s power sector.
