The latest renewable energy news includes announcements on Cox, Deriva Energy, Hy24, EDF, Frontier Energy Storage project in Kay County, and others.
Cox Announces $2.9 Billion Investment in El Salvador, Including Solar and Battery Storage
Spanish energy and water infrastructure company Cox has signed four agreements with the government of El Salvador covering approximately $2.9 billion in planned investments. The renewable-energy component includes two solar photovoltaic plants with an initial combined capacity of 200 MW, expandable to 400 MW. Battery storage developments will initially provide 440–500 MWh, with potential expansion to 1,000 MWh. The wider programme also includes a $1.8 billion liquefied natural gas terminal and power plant and $600 million in water infrastructure. Cox will work with state-owned utility CEL on the solar projects. The company intends to arrange financing through international banks and development institutions. Implementation is planned over approximately three years.
Deriva Energy Secures $280 Million Financing for 302 MW Battery Storage Project in Oklahoma
US renewable-energy developer Deriva Energy has closed $280 million in financing for its 302 MW Frontier Energy Storage project in Kay County, Oklahoma. The battery facility is expected to become the largest installation within the Southwest Power Pool electricity market. Canadian Imperial Bank of Commerce and KeyBanc Capital Markets acted as coordinating lead arrangers and joint bookrunners, with CIBC also serving as administrative agent. Construction has commenced, and substantial completion is expected in late 2027. Oklahoma Gas & Electric will acquire the completed project under a build-transfer agreement. Deriva, backed by Brookfield, operates or is constructing approximately 7 GW of wind, solar and battery storage assets and maintains a multi-gigawatt development pipeline.
Hy24 Agrees to Acquire EDF’s Hynamics Hydrogen Business, Targeting Q1 2027 Closing
French hydrogen investment manager Hy24 has signed an agreement with EDF Pulse Ventures to acquire Hynamics, the low-carbon hydrogen development subsidiary of EDF. The transaction will be executed through Hy24’s Clean Hydrogen Infrastructure fund. Established in 2019, Hynamics develops and operates hydrogen production projects serving industrial customers and heavy transportation applications in France and the United Kingdom. Its technology portfolio includes water electrolysis systems using low-carbon electricity. Hy24 intends to expand Hynamics’ project development, financing and commercial operations across European markets. Completion is targeted for the first quarter of 2027, subject to regulatory approvals and customary conditions. The parties did not disclose transaction consideration, Hynamics’ revenue or the number of employees transferring.
