November’s top news stories

5 December 2019 (Last Updated June 22nd, 2020 17:32)

ACWA Power and Gulf Investment Corporation to build and operate the 900MW project and SB Energy agreed to acquire five solar plants in the US. Power-Technology.com wraps up key headlines from November 2019.

November’s top news stories
ACWA Power to build the 900MW Mohammed bin Rashid Al Maktoum Solar Park. Credit: GCL System.

ACWA-led consortium to build 900MW solar project in Middle East

Dubai Electricity and Water Authority (DEWA) selected a consortium led by ACWA Power and Gulf Investment Corporation to build and operate the 900MW project at the Mohammed bin Rashid Al Maktoum Solar Park.

The consortium has been selected as the preferred bidder to build the fifth phase of the solar park using photovoltaic (PV) solar panels based on the independent power producer (IPP) model.

DEWA managing director and CEO Saeed Mohammed Al Tayer said: “We are striving to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a global hub for clean energy and green economy.”


SB Energy to acquire 1.7GW solar portfolio from Intersect Power

SoftBank Group subsidiary SB Energy agreed to acquire five solar plants in the US from utility-scale renewable energy developer Intersect Power. Financial details of the deal have not been disclosed by either company.

SB Energy CEO Raman Nanda said: “Intersect Power has created significant value by developing 1.7GW of large solar projects in a short period of time.

“We look forward to starting construction on the projects early next year and providing low-cost solar energy to our commercial partners. With this acquisition, SB Energy will have 7.2GW of solar and wind projects under long-term contract in the United States and India.”


Canadian Solar divests 49% stake in Mexican solar portfolio

Canadian Solar divested its 49% stake in three solar projects in Mexico to Korea Electric Power Corporation (KEPCO) and Sprott Korea. The projects have a combined capacity of 370MW.

KEPCO and Sprott acquired the stakes in Horus (119MW), Tastiota (125MW) and El Mayo (126MW) solar projects, which are located in the two Mexican states of Aguascalientes and Sonora.

Canadian Solar chairman and CEO Dr Shawn Qu said: “The investment by KEPCO and Sprott in our portfolio further illustrates the success of Canadian Solar in the Mexican solar energy market.”


Mitsubishi-led consortium to buy Eneco for €4.1bn

A consortium formed of Japanese companies Mitsubishi and Chubu Electric Power Company agreed to acquire Dutch energy company Eneco for €4.1bn, beating bids led by Shell and Rabobank respectively.

As part of the deal, Mitsubishi will take 80% ownership stake in the company, with Chubu taking the remaining 20%. The deal will be funded by both companies from existing cash resources.

Mitsubishi and Chubu cited Eneco’s long-term commitment to sustainable energy as the key reason for the transaction.


GE Power secures maintenance contract for power plant in Bangladesh

GE Power secured a five-year maintenance contract from the Bangladesh Power Development Board (BPDB).

The company will provide services and maintenance as the original equipment manufacturer (OEM) for a 225MW combined cycle gas-based power plant in Bhola district.

GE South Asia Gas Power Systems CEO Deepesh Nanda said: “Today, GE offers the largest power plant services portfolio in the industry globally, including the cross-fleet capabilities.”


CPPIB to acquire Pattern Energy in $6.1bn deal

Canada Pension Plan Investment Board (CPPIB) agreed to acquire US-based renewable energy company Pattern Energy Group in a deal valued at $6.1bn, including its net debt.

Under the deal, CPPIB will pay $26.75 per share to Pattern Energy shareholders.

Pattern Energy’s portfolio consists of 28 renewable energy projects with an operating capacity of 4.4GW in the US, Canada and Japan.


EBRD loan to improve electricity transmission network in Egypt

The European Bank for Reconstruction and Development (EBRD) agreed to provide a €182.9m loan to the Egyptian Electricity Transmission Company (EETC) to improve the country’s electricity transmission network.

With this new funding, EETC aims to develop a robust electricity grid across Egypt, which would see a reduction in transmission losses and result in saving 77,000t of carbon emissions annually.

EBRD’s funds will help EETC to integrate 1.3GW of new renewable energy into Egypt’s electricity system by establishing a connection from the new renewable energy plants using new or refurbished high-voltage substations.


Siemens Gamesa selects Infosys to overhaul IT infrastructure

Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) selected Indian IT major Infosys to support its digital transformation initiative.

Under the agreement, Infosys will offer a comprehensive IT infrastructure to SGRE, including a hybrid Cloud transformation, an intelligent service desk, as well as a software-defined network and digital workplace services.

Siemens Gamesa Renewable Energy chief information officer Alan Feeley said: “When considering our desired IT operating model, we were looking for a partner that brings a careful balance of innovation, operational excellence and sustainable commercial viability.


European Commission loan to support waste-to-energy plant in Bulgaria

The European Commission (EC) approved around €94m to support the construction and operation of a waste-to-energy cogeneration plant in Bulgaria.

Bulgaria informed the EC in October 2019 that it intends to build a high-efficient cogeneration plant in Sofia that will have the capacity to generate electricity as well as heat.

For producing electricity and heat, the plant will make use of fuel derived from unrecyclable municipal waste in line with EU State aid rules.


ABB to upgrade 1,240MW hydroelectric power plant in Brazil

ABB secured a $2.5m contract to upgrade Companhia Paranaense de Energia’s (Copel) 1,240MW Governador José Richa hydropower plant in Brazil.

The company will provide excitation systems and speed regulation for four generator units at the hydropower plant, which is located in the State of Paraná.

ABB’s Unitrol 6000 Static Excitation System (SES) is equipped with a controller. With modern hardware, the Unitrol 6000 control loop will be able to react faster to grid disturbances.