Clean Energy Pipeline’s Post

Trinasolar’s International Systems Business Unit (ISBU) has entered into a 15-year PPA with EGO, an Italian energy management company owned by Shell. The agreement covers nine solar projects totalling 69 MWp, located across various regions in Italy. The Italian solar projects are currently under construction and are slated to come online in 2024/2025. “We are very pleased to partner with EGO and the Shell Group to deliver green energy to their Italian clients, and to contribute to Italian government 65% target of electricity generated from renewable sources by 2030,” said Dr. Linhui Sui, President of Trina Solar ISBU. Once online, the solar portfolio will generate 119 GWh per annum, providing enough electricity to power 7,000 average-sized households. Carlo Corallo, CEO of EGO, added: “EGO is well positioned to capture this opportunity due to our specialism of managing energy produced from distributed sources and our well-established network of small asset owners. “Our integration into Shell Energy Europe and its extensive trading capabilities have enabled EGO to capture an opportunity like this and deliver greater value over the longer term as solar generation grows across Italy.” Trina Solar ISBU was advised by Parola Associati on this transaction. #cleanenergy

The 450 MW Neart na Gaoithe (NnG) offshore wind farm, owed by EDF Renewables UK & Ireland and ESB, has started generating first power to the national grid from its site off the coast of Fife, Scotland. NnG will comprise 54 wind turbines, generating enough clean power for around 375,000 homes per annum while displacing around 400,000 tonnes of CO2 annually. NnG is expected to be completed by summer 2025, with turbine commissioning ongoing in the coming months. “This is great for the project and is a positive step in achieving the country’s net zero targets,” said Matthias Haag, NnG Project Director. “We have worked closely with the local communities and we thank them for their patience as we’ve progressed towards this milestone.” Ryanne Burges (Kennedy), Director of Offshore and Ireland at EDF Renewables, noted: “NnG is a pivotal project in the EDF Renewables UK and Ireland portfolio as we accelerate towards a net zero future. It will continue to bring significant benefits to local communities across the east coast of Scotland.” NnG has supported 24 community projects and collaborated with local businesses in Scotland, including Forth Ports at Dundee and Muir Construction Ltd. Paul Lennon, Head of Offshore Wind and Hydrogen at ESB, added: “NnG will contribute to a reduction in carbon emissions from UK electricity generation and help deliver on ESB’s net zero ambitions.” #cleanenergy

Sembcorp Green Infra Pvt. Ltd., part of Sembcorp Industries Ltd, has received a Letter of Award (LOA) from the Solar Energy Corporation of India Limited (SECI) for the development of a 150 MW Inter State Transmission System (ISTS) connected wind-solar hybrid power project. The awarded project forms part of a larger 600 MW bid issued by SECI and will operate on a build-own-operate model. Once a PPA is signed, the project’s power output will be sold to SECI under a 25-year term offtake agreement. Sembcorp said the project is expected to be operational within 24 months of signing the PPA, funded through a combination of internal resources and debt. "With this award, Sembcorp’s gross renewables portfolio in India stands at 4.9 GW,” Sembcorp said in a statement. “This brings Sembcorp’s gross renewables capacity globally to 14.6 GW, including a 49MW acquisition pending completion.” #cleanenergy

Dubai-based Alcazar Energy Partners has signed an agreement with RP Global to secure the development, construction, and operation rights for Project Celzijus 1, a 200 MW onshore wind project located east of Belgrade, Serbia. The agreement also includes a 768 MW pipeline of wind and solar projects in Serbia, with the acquisition expected to close by the end of the year. “We extend our deepest gratitude to the leadership teams at both RP Global and Alcazar Energy Partners for their dedication and vision in bringing this agreement to fruition,” said Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy Partners. “Serbia is an important market for the energy needs of not only the Western Balkans, but Central Europe too, and this project will provide valuable jobs and skills for the surrounding region.” The transaction represents a key milestone for Alcazar Energy Partners as it moves towards its goal of building $600 million in renewable energy assets in Serbia, with an overall target of $1.2 billion in assets. Once operational, the Serbian project pipeline is expected to generate over 1,700 GWh of renewable energy per annum. RP Global will oversee Project Celzijus 1, which involves a capital investment of approximately $300 million. gerhard matzinger, CEO of RP Global, noted: “By joining forces with Alcazar Energy Partners, we will ensure that Project Celzijus 1 reaches completion with the same rigour and efficiency that we bring to all our developments. “This agreement allows us to continue expanding our core projects while delivering clean energy to thousands of households. We are excited about what this partnership will achieve and look forward to working closely with Alcazar Energy Partner’s leadership and team to make it a success.” #cleanenergy

US renewables developer Redeux Energy Partners LLC has sold a hybrid solar and battery storage project in Kentucky to Scout Clean Energy, a portfolio company of Brookfield Asset Management. As a result of the acquisition, Scout will work to take the 200 MWdc solar and a 40 MW, four-hour battery storage system, through the later stages of development within MISO’s 2021 DPP interconnection cluster. “The ideation of this project was part of the inception of Redeux, and we couldn’t be more excited to now have Scout Clean Energy advance it through the later stages of development, financing and construction,” said Rob Masinter, CEO of Redeux Energy. The project will connect to a MISO transmission switchyard adjacent to a 400 MW coal-fired power plant in Ohio County, Western Kentucky. “Scout is excited to make this excellent addition to our growing development pipeline,” commented Michael Rucker, CEO and Founder of Scout Clean Energy. “Redeux Energy has thoughtfully developed this site to date, and we are looking forward to transforming this great foundation into a high-performing solar and battery storage project that will bring significant benefits to Ohio County.” Marathon Capital served as adviser for Redeux in this transaction, the second from an 11-project portfolio launched in late 2023. Redeux’s pipeline currently totals around 7 GW and 7 GWh of solar and storage capacity across the ERCOT, MISO, SERC, and WECC markets, with plans to bring another portfolio to market in Q1 2025. Sarah Nash, Director at Marathon Capital, noted: “It has been a privilege to support Redeux in advancing its strategic objectives as a leading developer in the utility-scale and energy storage markets. Scout is well-positioned to acquire this development project and deliver impactful results that benefit both the industry and the local community.” #cleanenergy

Swimsol GmbH, an Austria-based company specialising in floating solar photovoltaic (FPV) technology, has engaged CORIOLIS Green Investment Solutions GmbH as its exclusive lead adviser for a capital raising campaign. Swimsol launched a capital raising campaign to expand its renewable energy solutions worldwide. With over a decade of operational experience and several megawatt-scale FPV projects completed or underway, Swimsol aims to increase its market footprint, particularly in the nearshore sector, which is projected to reach gigawatt-scale by 2030. Wolfgang Putschek, co-Founder and CFO of Swimsol, commented: “Partnering with a dedicated investor will allow us to quickly scale up our proven technology and meet the increasing demand for clean, affordable energy in near-shore regions worldwide.” Swimsol’s focus is on delivering cost-efficient, sustainable energy solutions to new regions, building upon its presence in Chile, Indonesia, the Maldives, and more. With CORIOLIS in place as the exclusive lead adviser for the capital raising campaign, interested parties can contact Clemens Rezac at CORIOLIS via email at clemens.rezac@coriolis.at. #cleanenergy

Swedish company CorPower Ocean has secured €32 million in a Series B1 funding round. The funding round was led by NordicNinja VC, with notable participants including SEB Greentech, InnoEnergy, as well as Santander Asset Management, Iberis Capital, Cisco Investments, and existing shareholders. The announcement was made at EIT InnoEnergy’s Business Booster event in Barcelona. “Today’s announcement follows breakthrough results reported earlier this year from the firm’s ocean demonstration at the Aguçadoura site in northern Portugal, where the CorPower C4 became the first commercial scale wave device to successfully demonstrate the ability to survive the biggest Atlantic storms combined with a large power generation capacity with respect to the size and cost of equipment,” said CorPower Ocean co-Founder & CEO Patrik Möller. CorPower Ocean, founded in 2012, employs 85 people from 22 countries and operates in Sweden, Norway, Portugal, Scotland, and is expanding to the US West Coast. The company has now raised a total of €95 million in private and public funding. The new funding will be used to scale CorPower’s technology and operations. “The technical ability CorPower Ocean has demonstrated to survive the biggest Atlantic storms has been truly impressive,” noted NordicNinja VC’s Managing Partner, Marek Kiisa. “Wave power will finally meet the level of industrial expectations.” Markus Hökfelt, Investment Director SEB GreenTech VC, stated: “This truly is an amazing team of people encompassing world leading engineering skills, know-how, determination and drive, led by a CEO in Patrik Möller with the top qualities that we look for as investors. By providing the support and funding they need, CorPower Ocean will make wave power a reliable, cost competitive and scalable energy source.” #cleanenergy

Octopus Renewables Infrastructure Trust (ORIT) has closed the acquisition of a newly constructed 42 MW solar farm near Dublin, Ireland. The acquisition adds to the four operational solar farms ORIT acquired earlier this year, bringing the total capacity of the five-site complex to 241 MW. The solar complex is now the largest in Ireland and is expected to contribute approximately 2.5% towards Ireland’s national solar target of 8GW by 2030. Philip Austin MBE, Chairman of ORIT, stated: “We are delighted to have completed on the fifth solar site following its energisation, underscoring our continued commitment to increasing green electricity generation through renewable infrastructure projects. “This solar complex will play a crucial role in providing sustainable electricity to Ireland to help it meet its clean energy goals and represents a step forward in our mission to deliver long-term value for our shareholders and positive environmental impact.” The sites were developed and constructed by Statkraft Ireland Limited under ORIT’s supervision, and were acquired once fully operational. The total acquisition cost amounted to €198 million, with approximately €38 million allocated to this latest site. The acquisition was partially financed through a €104 million 20-year debt facility provided by AIB and La Banque Postale, including an additional drawdown of €23 million for the new site. The solar complex benefits from a 15-year PPA with Microsoft. With this acquisition, ORIT’s total operational renewable energy capacity now stands at 802 MW. #cleanenergy

M&G plc has announced its lead role in a Series C investment round for Submer, a Spanish start-up specialising in data centre immersion cooling technology. Founded in 2015, SuSubmer’s innovative ‘Smart Pods’ technology submerges server racks in thermally conductive dielectric fluid, enabling heat transfer, cooling, and recycling. Submer is currently at the scale-up stage and will use M&G’s investment to accelerate its global expansion, with immediate focus on key markets such as the US and Asia Pacific to support clients facing infrastructure demands and regulatory compliance. “As global demand for AI and data capacity soars, Submer’s technology is a critical counter to the intensive energy and water requirements of digital infrastructure,” noted Niranjan Sirdeshpande, Global Head of Catalyst Investment at M&G. “Widespread adoption of liquid cooling will attract further institutional investment for its cost savings, sustainability benefits, not to mention the positive real estate fundamentals for property investors. “Private capital has real potential to drive positive change and broaden the appeal for long term investors in this asset class and we’re excited to support Submer at this important time as they scale their capabilities globally.” Pol Valls Soler, Founder and CFO of Submer, commented: “We are grateful for the strong interest from investors and are thrilled to partner with M&G who very much align with our sustainability values. “With this strong backing we are well positioned to continue to lead the liquid immersion cooling market and meet the growing demands of hyperscale data centres, enabling us to scale faster with our customers, whilst remaining focused on driving growing and meaningful impact in our industry.” #cleanenergy

Wood is leading a Joint Industry Partnership (JIP) to develop industry guidelines for CO2 specifications aimed at accelerating Carbon Capture, Utilisation, and Storage (CCUS) projects. The global consulting and engineering firm’s guidelines focus on the impact of impurities in CO2 throughout the CCUS value chain. “We are proud to contribute to the industry by sharing these guidelines for setting CO2 specifications. CCUS will undoubtedly play a crucial role in reducing emissions from hard-to-abate sectors,” said Azad Hessamodini, Executive President for Consulting at Wood. “These guidelines will support the safe and effective design of projects while minimising operational risks. This collaborative effort made possible through invaluable input from our clients and research partners represents a significant step forward in developing CCUS practices knowledge across our industry.” The JIP includes a range of industry leaders such as aramco, Equinor, Fluxys, Gassco AS, Harbour Energy, Mitsubishi Heavy Industries, Net Zero Technology Centre, OMV, PETRONAS, Shell, and TotalEnergies. It also involves industry and research experts like DNV, Heriot-Watt University, IFE, NGI A/S, NPL Construction Co., and TÜV SÜD National Engineering Laboratory (NEL), with support from various licensors and equipment suppliers. The guidelines aim to establish a CO2 conditioning standard that addresses safety, environmental, technical, and operational requirements, thereby supporting the growth of the CCUS sector. #cleanenergy