Power Technology
Established in1999
Located inLondon, United Kingdom
News CoveragePOWERPLANT
10
PT Publishers' Articles
Filter by
View by
Power Technology
Eos And Frontier Sign Mou For 5Gwh Energy Storage FrameworkEos Energy Enterprises has signed a memorandum of understanding (MoU) with Frontier Power for a 5 gigawatt-hour (GWh) energy storage framework agreement.
The partnership marks Eos’ entry into the UK market, utilising its zinc-based long-duration energy storage systems.
The gold standard of business intelligence.
Find out more
The agreement aligns with Frontier’s plans to bid in the Office of Gas and Electricity Markets’ (Ofgem) new long-duration energy storage cap and floor scheme.
The collaboration between Eos and Frontier will extend beyond the UK, exploring opportunities in new international markets.
Frontier Power CEO Humza Malik stated: “This agreement reflects Frontier Power’s commitment to driving innovation in clean energy while fostering international collaboration.
“By working with Eos, we are advancing our portfolio of long-duration storage projects and strengthening trade relations between the US and UK. The prospect of local manufacturing in the UK could further boost economic growth and job creation.”
The partnership could also lead to local manufacturing in the UK, fostering domestic supply chains and job creation, contingent on significant project volumes materialising with Eos technology.
The UK’s cap and floor scheme, managed by Ofgem and the Department for Energy Security and Net Zero, aims to provide revenue certainty for innovative energy storage technologies.
It encourages investment in alternatives to lithium-ion, aligning with the UK’s goals of grid stability and increased renewable integration.
Eos’ eight-hour technology is well-suited for the scheme, supporting the UK’s broader objectives.
Eos CEO Joe Mastrangelo stated: “Our supply chain strategy was designed to be transportable. We can co-locate manufacturing capacity near customer demand and not only provide innovative energy storage, but sustainable jobs in regions that have demand for our technology. As that demand grows, both domestically and internationally, we’ll expand our manufacturing footprint, and we’re excited to partner with Frontier to execute on that vision in the UK market and beyond.”powerplant
Apr 16, 2025
Power Technology
Evrec’S Newfoundland Green Hydrogen Project Gains Eis GuidelinesThe green energy hub project in the Botwood area of the Canadian province of Newfoundland and Labrador has received environmental impact statement (EIS) guidelines from the province’s Department of Environment and Climate Change.
This marks a significant step for the project, which aims to harness renewable energy sources for sustainable hydrogen production.
The gold standard of business intelligence.
Find out more
The project, led by Abraxas Power and its subsidiary Exploits Valley Renewable Energy Corporation (EVREC), is set to revolutionise energy production in the province.
It is expected to contribute to Newfoundland and Labrador’s green energy transition, create economic benefits and position the province as a key player in the global hydrogen market.
EVREC has been granted access to more than 300km² of Crown lands for the development of the project.
The project will feature up to three gigawatts of onshore wind power, along with energy and molecular storage systems to support behind-the-meter production of green hydrogen and green ammonia.
It will generate 180,000 tonnes of green hydrogen and 1 million tonnes of green ammonia annually.
Abraxas Power chief operating officer Dean Comand stated: “The EIS is an essential part of our approach, and we are eager to maintain open, ongoing engagement with stakeholders and regulators while continuing to work on refining and advancing all aspects of the project.
“Newfoundland and Labrador is on the cutting edge of clean energy innovation, and this project represents an exciting opportunity for the province to contribute to global sustainability efforts.
“The EIS is an important step in the process and underscores our commitment to responsible development and to working alongside communities and stakeholders to ensure that the environmental impact is carefully considered at every stage of this transformative project.”
EVREC also plans to establish dedicated port infrastructure to export its products to global markets.
Pre-construction activities have significantly advanced, including engineering, wind resource measurement and environmental assessment processes.
These activities involve environmental data collection and public and stakeholder engagement, with the final project design subject to ongoing assessments.powerplant
Apr 16, 2025
Power Technology
European Commission Approves €400M For Renewable Hydrogen In SpainThe European Commission has approved a €400m ($452.6m) Spanish state aid scheme to support renewable hydrogen production through the European Hydrogen Bank’s auctions-as-a-service tool.
Under the auctions-as-a-service approach, member states can opt to utilise the EU-wide auction system provided by the Innovation Fund to distribute a specified portion of their national funding to renewable hydrogen production projects within their borders.
The gold standard of business intelligence.
Find out more
Spain aims to construct up to 345MW of electrolyser capacity, producing up to 221,000 tonnes of renewable hydrogen. This project is expected to avoid up to one million tonnes of CO₂ emissions.
The scheme supports Spain’s goal of installing 12GW of electrolyser capacity by 2030, contributing to the EU’s renewable energy directive targets.
The scheme aligns with the Clean Industrial Deal and REPowerEU Plan, aimed at decarbonising EU industries, reducing reliance on Russian fossil fuels and advancing the clean energy transition.
Spain will be awarded the aid through a competitive bidding process that concluded in the first quarter of 2025 and was overseen by the European Climate, Infrastructure and Environment Executive Agency (CINEA).
Companies planning new electrolysers in Spain can apply for support, which will be provided as a direct grant per kilogram of renewable hydrogen produced.
The aid will last for a maximum of ten years, requiring beneficiaries to comply with EU criteria for renewable fuels of non-biological origin (RFNBOs).
This involves contributing to the deployment or financing of additional renewable electricity required for hydrogen production.
The European Hydrogen Bank, run by the Innovation Fund, aims to facilitate EU-domestic production and imports of renewable hydrogen, targeting 20 million tonnes by 2030.
The hydrogen auctions are financed through EU emissions trading system revenues, supporting the transition to climate neutrality.powerplant
Apr 16, 2025
Power Technology
Manitoba Hydro To Redirect Power Exports For Canadian InfrastructureThe government of the Canadian province of Manitoba has directed Manitoba Hydro to redirect 500MW of expiring electricity export contracts to support infrastructure projects within Canada.
Premier Wab Kinew announced the initiative to bolster nation-building efforts, with a focus on projects such as the Kivalliq hydro-fibre link, which will receive 50MW of the redirected power.
The gold standard of business intelligence.
Find out more
The Kivalliq hydro-fibre link infrastructure project intends to provide power and telecommunications to northern communities.
The development aims to reduce reliance on diesel fuel and create economic opportunities by powering local mines.
Kinew stated: “Manitoba is a province of builders, and we are stepping up to help build our nation as we weather the economic uncertainty we are all facing right now.
“There is no better time to be partnering with other Canadian provinces and territories to build the infrastructure we need for a strong domestic economy.”
Premier Kinew emphasised the importance of collaboration with the northern territory of Nunavut, the Inuit-owned Nukik corporation and other partners to advance the project and stimulate economic and cultural growth.
Nukik CEO Anne-Raphaëlle Audouin stated: “This commitment by the province of Manitoba is true nation-building that makes Canada stronger.
“Working together, we can unlock sustainable economic development opportunities, build stronger communities and support Arctic sovereignty and security. We look forward to working in partnership to build a more connected Canada.”
In a related development, Canada has extended its target for achieving a net-zero electricity grid from 2035 to 2050.
This decision follows the release of its finalised Clean Electricity Regulations (CER) and was influenced by feedback from provinces and energy industry stakeholders.powerplant
Apr 15, 2025
Power Technology
Acen Australia Secures $473.5M For Renewables Portfolio ExpansionACEN Australia has secured $473.5m (A$750m) in portfolio debt financing to bolster its clean energy initiatives in Australia.
The financing supports the company’s ongoing and future renewable projects, highlighting ACEN Australia’s commitment as a long-term investor in the nation’s clean economy.
The gold standard of business intelligence.
Find out more
The funding will support the nearly finished 400MW Stubbo Solar project in New South Wales and follows the first power output from the 400MW Stage 1 of the New England solar project in 2023.
The deal was supported by a group of 11 lenders from Australia and overseas, broadening ACEN Australia’s network of finance partners and highlighting strong market trust in the company’s growth plans and proven performance.
ACEN Australia managing director David Pollington stated: “Our ability to attract top-tier financial partners re-inforces our position as a trusted, long-term developer, owner and operator of assets, and reflects growing investor appetite for high-quality, renewable infrastructure in Australia.”
The financing establishes a funding base for ACEN Australia’s diverse portfolio, which includes more than 1GW of renewable capacity in operation and under construction, with an additional 13GW in development across the national electricity market.
ACEN Australia chief financial and investments officer Phillip Mak stated: “This transaction strengthens our funding platform, accelerates our delivery pipeline and positions us as a capable partner backed by a stable and diverse capital base.”
The transaction involved a range of financial institutions: ANZ Banking Group, the Commonwealth Bank of Australia, CTBC Bank Co (Singapore branch), CTBC Bank (Philippines) and Cathay United Bank.
Other participants included Deutsche Bank (Sydney branch), DBS Bank (Australia branch) and Westpac Banking.
Macquarie Capital and Morgan Stanley acted as joint financial advisors for the transaction, with Allens serving as legal adviser for ACEN Australia and Herbert Smith Freehills advising the lenders.
ACEN is on track to achieve 100% renewable energy generation by 2025 and reach net-zero greenhouse gas emissions by 2050.powerplant
Apr 15, 2025
Power Technology
Arclight To Acquire Kleen Power From Osaka Gas And KyudenArcLight Capital Partners (ArcLight) has made a definitive purchase agreement with Osaka Gas USA and Kyuden International Americas to acquire their interests in Kleen Energy Systems, a 620MW natural gas-fired power generation asset in New England, US.
The acquisition aligns with ArcLight’s strategy to address increasing power demand driven by AI and electrification trends.
The gold standard of business intelligence.
Find out more
AI-driven data centre development and increased electrification, such as electric vehicle adoption, are driving the demand for sustainable and affordable power solutions.
ArcLight partner Angelo Acconcia stated: “ArcLight’s acquisition of Kleen Power leverages its deep investment expertise across over 50 power investments since 2001, along with its ability to acquire strategic power infrastructure assets and utilise ArcLight’s value added investment playbook and resources to enhance value and the ability to provide critical and reliable power.”
The transaction, expected to close in 2025, is subject to regulatory approvals.
ArcLight’s power management team, Alpha Generation Services, led by Curt Morgan, will manage Kleen Power.
ArcLight managing director Andrew Brannan stated: “Kleen is a high-quality combined cycle providing critical infrastructure and reliable energy supply as one of the most efficient natural gas-fired assets in the New England market, serving a real and growing market need.”
Legal counsel for ArcLight is Latham & Watkins, with MUFG as financial advisor.
Since 2001, ArcLight has managed more than 65GW of assets and 47,000 miles of electric and gas transmission infrastructure, with an enterprise value of $80bn.
Alpha Generation, a strategic partnership owned by an affiliate of ArcLight, recently announced its plans to provide an additional 450MW of electricity generation to four existing power plants located in the US states of Maryland, New Jersey and Ohio.
This move forms part of PJM’s reliability resource initiative, which seeks to tackle the rising demand for power driven by electrification and industrial needs.powerplant
Apr 15, 2025
Power Technology
Capital Power Acquires Two Us Natural Gas-Fired Power Plants For $2.2BnCapital Power has announced the strategic acquisition of two flexible generation assets in the US for $2.2bn: the 1,124MW Hummel station in Pennsylvania and the 1,023MW Rolling Hills plant in Ohio.
The transaction will close in the third quarter of 2025.
The gold standard of business intelligence.
Find out more
The move positions Capital Power among the top five North American independent power producers with more than 10GW of natural gas capacity.
The acquisition aligns with the company’s strategy to expand in the US and the PJM [Pennsylvania, New Jersey, Maryland] market.
Capital Power expects the acquisition to generate an average annual adjusted EBITDA (earnings before interest, taxation, depreciation and amortisation) of approximately $443m from 2026 to 2030.
To fund the acquisition, the company has launched a $500m common share offering, fully covering the equity funding requirement.
Additional funding will be sourced from cash reserves, debt financing and credit facilities.
A commitment letter dated 14 April 2025 with a Canadian chartered bank affiliate of TD Securities secures $2bn in senior unsecured term loans.
Capital Power also has access to $1bn under its existing revolving credit facilities, ensuring financial flexibility and maintaining its investment-grade credit rating.
Capital Power president and CEO Avik Dey stated: “Capital Power’s acquisition of Hummel and Rolling Hills expands our US generation fleet and advances our position as a leading North American power producer.
“With our expansion into the largest and most liquid power market in North America, we continue to deliver on our strategy. These plants will bolster our flexible generation portfolio and align with our commitment to provide reliable, affordable power solutions that support a balanced approach to energy expansion.
“As a leading operator in North America, our ability to integrate these assets, optimise performance and enhance returns through our robust trading platform underpins the long-term value we expect these acquisitions will provide for our shareholders.”
The company partnered with TD Securities and CIBC Capital Markets to issue 8,060,000 common shares at $43.45 per share, raising $350m.
An over-allotment option could increase proceeds to $403m and a private placement with the Alberta Investment Management Corporation will raise $150m.
The public offering and private placement are set to close around 22 April 2025.
The proceeds will fund the acquisition, with alternative plans for future growth opportunities if the acquisition does not complete.
The funding plan ensures Capital Power’s financial stability and supports its strategic growth initiatives.powerplant
Apr 15, 2025
Power Technology
Enbw Commissions Hydrogen-Ready Power Plant In Stuttgart, GermanyEnBW has commissioned a hydrogen-ready gas turbine power plant at Stuttgart-Münster, as part of the company’s commitment to decarbonisation and grid stability.
The plant serves as a model for future projects as southern Germany faces a growing need for flexible power solutions to balance renewable energy sources.
The gold standard of business intelligence.
Find out more
The opening marks a milestone amidst extensive policy discussions regarding the legal framework for financing the urgently required investment in dispatchable power plant capacity,
EnBW CEO Georg Stamatelopoulos stated: “The power plants needed for the energy transition cannot be financed by the market alone. This is why the German government needs to create a framework of regulatory incentives for more investment as part of its programme for the first 100 days in power.”
The Stuttgart-Münster site, traditionally focused on waste incineration, is undergoing significant changes.
The existing combined heat and power (CHP) plant comprises a hard coal-fired power plant, a waste incineration plant and three steam turbines.
The modernised site now features a new gas turbine plant with a gross electrical output of 114MW, including waste heat and hot water boilers.
The CHP plant caters to both base load and peak load supply, providing Stuttgart with 124MW of electrical energy and 370MW of thermal energy.
The existing coal-fired unit and fuel oil-fired gas turbines will be decommissioned by spring 2026, aligning with Stuttgart’s goal of achieving net zero by 2035.
The hydrogen-ready plant is crucial for expanding renewable energy, offering flexibility to quickly respond to grid fluctuations.
EnBW is also converting its coal-fired sites in Altbach/Deizisau and Heilbronn to hydrogen-ready gas-fired power plants.
This initiative is part of EnBW’s broader strategy to decarbonise its power plant portfolio, involving a total capacity of 1.5GW and an investment of €1.6bn ($1.8bn).
In 2024, EnBW also announced plans to equip its power plant site in Marack, Germany with a 100MW battery storage system.
The 100 megawatt hours battery facility will help stabilise the southern German electricity grid rather than supply power directly to households.powerplant
Apr 14, 2025
Power Technology
Eu To Add 89Gw Renewable Capacity In 2025 Despite Industry ChallengesThe European Union (EU) is on track to install a record 89GW of renewable energy capacity in 2025, including 70GW of solar and 19GW of wind power, as reported by Reuters, based on European Commission projections.
This expected growth surpasses 2024’s installations, which saw the addition of 65.5GW of new solar and 12.9GW of wind capacity.
The gold standard of business intelligence.
Find out more
The rapid deployment of renewable energy is crucial for the EU to achieve its climate objectives and reduce reliance on gas imports – in particular, to phase out Russian gas by 2027.
However, the renewable energy sector is encountering challenges, such as prolonged delays in obtaining permits.
Industry association SolarPower Europe has expressed concerns that recent cuts to government support, such as France’s decision to reduce feed-in-tariff support for rooftop solar panels, could impact growth projections.
SolarPower Europe CEO Walburga Hemetsberger stated: “Some big markets have taken significant steps back since the beginning of the year [2025]. It is looking less and less likely we’ll hit 70GW this year.”
2024’s growth in installations slowed to 4%, down from 50% growth in 2023.
To meet the EU’s 2030 environmental targets, 70GW of new solar capacity is needed annually.
Industry group WindEurope forecasted a 35% increase in new wind capacity in 2025, with an addition of 17.4GW.
However, wind power developer Ørsted has highlighted that the industry in Europe is facing increased costs and supply chain issues.
In February 2025, the European Commission announced plans to mobilise more than €100bn ($104.9bn) to boost EU-based clean manufacturing under its Clean Industrial Deal, aimed at speeding up decarbonisation.powerplant
Apr 11, 2025
Power Technology
Ai Will Increase Data Centre Electricity Demand And Transform Energy SectorAI is poised to drive a substantial increase in electricity demand from data centres, while revolutionising the energy sector globally up to the mid-2030s, according to a new report from the International Energy Agency (IEA).
Entitled Energy and AI, the report predicts electricity demand from AI-driven data centres to more than double to around 945 terawatt hours (TWh) by 2030.
The gold standard of business intelligence.
Find out more
Based on extensive consultation with policymakers, the tech sector and international experts, the report emphasises that AI will be the primary driver of this surge.
The report highlights the transformative potential of AI in the energy sector by creating considerable opportunities to reduce costs, improve competitiveness and lower emissions.
Data centres are anticipated to drive more than 20% of global growth in electricity demand in advanced economies.
To meet this demand, a diverse range of energy sources will be utilised, with renewables and natural gas leading due to their cost-effectiveness.
In the US, data centres are expected to account for almost half of electricity demand growth by 2030, exceeding that used for manufacturing energy-intensive goods.
IEA executive director Fatih Birol stated: “AI is one of the biggest stories in the energy world today – but until now, policy makers and markets lacked the tools to fully understand the wide-ranging impacts. Global electricity demand from data centres is set to more than double over the next five years, consuming as much electricity by 2030 as the whole of Japan does today.
“The effects will be particularly strong in some countries. For example, in the United States, data centres are on course to account for almost half of the growth in electricity demand; in Japan, more than half; and in Malaysia, as much as one-fifth.”
According to the report, AI could both exacerbate and mitigate energy security issues, with cyberattacks on energy utilities tripling since 2020 due to the use of AI. However, AI is also becoming a crucial tool for defending against such threats.
While emissions from data centres are expected to rise, they may be offset by AI-driven emissions reductions if the technology is widely adopted.
AI’s role in accelerating innovation in energy technologies, such as batteries and solar photovoltaic, was also noted in the report.
The report urges countries to invest in electricity generation and grids, improve data centre efficiency and foster dialogue between policymakers, the tech sector and the energy industry.
“AI is a tool, potentially an incredibly powerful one, but it is up to us – our societies, governments and companies – how we use it. The IEA will continue to provide the data, analysis and forums for dialogue to help policy makers and other stakeholders navigate the path ahead as the energy sector shapes the future of AI – and AI shapes the future of energy,” Birol stated.
The IEA plans to launch an Observatory on Energy, AI and Data Centres to track AI’s electricity needs and applications.
It recently released a report stating that global electricity demand is expected to increase by 4% annually until 2027.powerplant
Apr 11, 2025