30 October 2023
30 October 2023
Mismanagement of the state’s power utility company has led to an energy crisis that requires external financing to solve.
The two companies have a combined pipeline of more than 37GW.
Just six of the EU 27 have yet to host corporate renewable PPAs, after Hungary, Lithuania, Slovenia and Portugal entered the market in 2023.
Sectors leading the way in the European PPA market are IT (with 2GW of procurement this year), heavy industry (1.8GW) and telecoms (650MW).
A wide variety of sectors are now investing in corporate renewable PPAs as more and more companies look to decarbonise.
The new solar plants will be built on rooftops and business sites to lower fossil fuel dependency.
CFM will allocate $55m towards acquiring a 32% stake in Release while Scatec will hold the remaining 68% stake.
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India derives most of its electricity from thermal power. Within thermal sources, India is majorly dependent on coal-based plants for power generation. The government has no immediate plans to phase-out coal power plants as coal is one of the cheapest sources of power generation in the country. The country also imports significant amounts of coal from Indonesia, Australia, and South Africa where the carbon quantity of coal is high. Coal is expected to remain the most dominant source of power generation in India until 2035.
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