Today’s renewable energy news includes announcements from Mirova–Evecon, Axis, Contact Energy, and others.
Mirova–Evecon JV Secures Financing and FPPA for 55-MW Estonian BESS
A joint venture between Mirova and Evecon has signed a financing agreement and a financial power purchase agreement (FPPA) for a 55-MW battery energy storage system (BESS) in Estonia. The dual-structure deal enhances revenue visibility while securing capital to advance construction. The FPPA provides long-term income stability by hedging market exposure, strengthening the project’s bankability in a rapidly evolving Baltic power market. Once operational, the BESS will deliver grid balancing, frequency regulation, and renewable integration services, supporting Estonia’s energy security and decarbonisation objectives. The transaction underscores rising investor appetite for standalone storage assets in Northern Europe, where battery systems are playing a growing role in stabilising grids and enabling higher shares of wind and solar generation.
Axis Advances Plan for 5 GW of New Renewable Capacity in Odisha
Axis is progressing plans to develop 5 GW of new renewable energy capacity in Odisha, marking one of the larger proposed clean energy expansions in eastern India. The initiative is expected to include a mix of solar and wind projects, supporting the state’s industrial growth and rising electricity demand. The large-scale rollout aims to strengthen Odisha’s renewable portfolio while improving energy security, grid reliability, and emissions reduction. The development could also attract significant investment, create local employment, and boost associated transmission and infrastructure upgrades. The move aligns with India’s broader strategy to rapidly scale renewable capacity nationwide. By advancing multi-gigawatt projects, Axis is positioning itself as a key contributor to the country’s clean energy transition and long-term decarbonisation goals.
Contact Energy to Raise USD 317 mn in Equity to Fund Renewables Expansion
Contact Energy plans to raise USD 317 million through an equity round to accelerate its renewable energy expansion and strengthen its balance sheet. The capital injection will support development of new clean generation projects and help fund the company’s growing pipeline. The move reflects sustained investment momentum in low-carbon power assets, as utilities scale wind, solar, and flexible generation to meet decarbonisation targets. By reinforcing its financial position, Contact Energy aims to advance projects efficiently while maintaining long-term stability. The equity raise underscores strong investor appetite for renewable-focused utilities and positions Contact to expand its clean energy portfolio, enhance energy security, and contribute to a more resilient and sustainable power system.
FAHEEMA P
