Latest news with #energtransition
Zawya
02-07-2025
- Business
- Zawya
BII signs over $300 million in agreements to accelerate green growth and Egypt's energy transition
The projects will advance Egypt's ambition to generate 42% of its electricity from renewables by 2030. The Gulf of Suez Wind Farm and the Obelisk solar and battery storage project developed by Scatec will add over 2 GW of clean energy capacity to the national grid and avoid approximately 3.9 million metric tonnes of CO₂ emissions. New projects demonstrate BII's leading role in Egypt's energy transition through patient capital, which supports grid resilience, green jobs and unlocks replicable climate innovation. CAIRO: British International Investment (BII), the UK's development finance institution and impact investor, has signed over $300 million in agreements to support two pioneering renewable energy projects in Egypt – a new 1.1 GW Gulf of Suez Wind Farm and a 1.1 GW integrated solar and battery storage project with Scatec. The agreements reflect BII's investment plan to accelerate Egypt's energy transition and build climate-resilient infrastructure that stimulates growth in North African countries. The Gulf of Suez Wind Farm, a $1.2 billion project and Africa's largest onshore wind development, is expected to generate 4,500 GWh annually, helping to avoid 2.5 million metric tonnes of CO₂ emissions per year. BII's $190 million investment forms part of a broader $704 million in debt financing with a consortium of development finance institutions (DFIs) including the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), DEG – the German Development Finance Institution, the OPEC Fund for International Development, and the Arab Energy Fund. The project builds on Egypt's Nexus of Water, Food & Energy (NWFE) programme and will create over 10,000 power enabled jobs. BII has also signed an agreement to co-finance Egypt's first integrated solar photovoltaic (PV) and battery energy storage system (BESS), in partnership with Scatec, AfDB, and EBRD. The $479.1 million project – representing 80 per cent of the total capital cost – will deliver 1.1 GW of solar PV capacity and 200 MWh of battery storage. BII is providing a $100 million concessional loan and a $15 million grant to reduce the cost of the BESS component, making the project more viable, attracting private investment, and setting a model for future deals. With a portfolio size of over $708 million, Egypt is a critical partner for BII with the latest agreements reflecting an ongoing commitment to the region's climate agenda. The projects align with BII's North Africa climate strategy, which underscores the role of innovative and scalable renewable energy technologies that enhance climate resilience for future generations. In Morocco, BII backs green hydrogen projects, while in Tunisia, the DFI is identifying opportunities to scale climate-smart agriculture. These efforts collectively promote climate innovation, enabling the private sector's ability to produce, export and share clean energy. Iain Macaulay, Director and Head of Project Finance (Africa and Pakistan), BII, said: 'These landmark agreements in Egypt reflect the scale of BII's ambition to accelerate Africa's energy transition through transformative project finance. By backing pioneering renewable infrastructure at this magnitude, we're not only supporting climate resilience and energy security, but also demonstrating how concessional capital can unlock private investment and deliver impact at scale.' Sherine Shohdy, Head of Egypt Office and Coverage Director, BII, added: 'Our latest agreements reflect BII's long-term commitment to Egypt's clean energy transition and our confidence in the country's ability to lead on climate innovation in the region. Through our capital partnerships, we are proud to deliver new infrastructure that will provide affordable and reliable, low-carbon power and unlock thousands of green jobs. Our goal is to deliver impact at scale, supporting Egypt's renewable energy ambitions and the resilience of its wider economy.' About British International Investment British International Investment (BII) is the UK's development finance institution and a trusted investment partner to businesses in Africa, Asia, and the Caribbean. It invests to support the UK Government's Clean Green Initiative and to create productive, sustainable, and inclusive economies in eligible markets. Between 2022 and 2026, at least 30 per cent of BII's total new commitments by value will be in climate finance. The company has investments in over 1,470 businesses in emerging economies across 65 countries and total assets of £8.1 billion.
Yahoo
01-07-2025
- Business
- Yahoo
HyperStrong and Repono forge strategic collaboration to advance grid-scale battery energy storage projects in Europe
ZHUHAI, China, July 1, 2025 /PRNewswire/ -- HyperStrong, a global leading provider of battery energy storage system (BESS) solutions, and Repono AB, a European developer of large-scale energy storage projects, have formalised their strategic collaboration through a Partnering Agreement on 23 June, aimed at jointly advancing 1.4GWh grid-scale energy storage projects across Europe by 2027. The strategic partnership brings together complementary skills required for the rapid, large-scale deployment of electricity storage. Repono's project development expertise including site development, permitting, and grid interconnection, will be complemented by HyperStrong's full-scope system integration capabilities, including BESS solution delivery and associated lifecycle services. The collaboration reflects a shared commitment to accelerating the energy transition, while supporting Europe's ambition to scale local value chains and strengthen long-term industrial resilience. "We are excited to deepen our partnership with Repono to accelerate the deployment of safe, high-performance, and cost-effective energy storage infrastructure in Europe," said Mr. Pingyang Wang, Senior Vice President of HyperStrong International and President of EMEA Region. "This collaboration reflects our long-term commitment to the European market and our shared ambition to enable grid stability and energy transition in the region." Mr. Karim Nils Grueber, CEO of Repono, stated: "HyperStrong brings strong technical know-how and proven experience in delivering integrated BESS solutions which is complementary to Repono's extensive expertise in project development and more than 100,000 hours of BESS operations experience. We will lead with excellence in project design, permitting, and EPC coordination. Together, we aim to unlock the potential of grid-scale storage as a backbone for Europe's energy transition." Mr. Greger Landén, CTO of Repono, also expressed: "We have together with HyperStrong spent the last six months evaluating their technology and approach to the energy storage area. We have not only found a partner that is truly focused on performance and safety that aligns well with our values, but also a great team willing to discuss and develop our common approach in line with our needs for enabling the green transition in the European market." Under the agreement, both parties will engage in joint planning and project reviews, including technical and commercial alignment on identified pipeline projects. The agreement reflects a shared intent to leverage their complementary strengths for mutually beneficial success in future grid-scale projects. ENDS About HyperStrong Beijing HyperStrong Technology Co., Ltd. ("HyperStrong", is a global leading energy storage system (ESS) integrator and service provider. Founded in 2011, with more than 13 years of research and development, as well as experience garnered through more than 300 energy storage projects and more than 30GWh of deployment, HyperStrong offers a portfolio of ESS products and one-stop solutions for the full spectrum of utility-scale, commercial and industrial applications. Having built four smart manufacturing bases, three R&D centers, two testing labs and a global marketing center, HyperStrong empowers clients worldwide to achieve their energy transition and carbon neutrality goals. For more information about HyperStrong, visit: About Repono Repono AB is a Sweden-based energy infrastructure developer focusing on large-scale renewable and storage projects in the European market. Repono's expertise spans project origination, permitting, financing, and coordination of engineering, procurement, and construction (EPC) activities with a focus on leveraging from the operational and software experience within the company. For more information about Repono AB, visit: SOURCE Beijing HyperStrong Technology Co., Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
01-07-2025
- Business
- Associated Press
HyperStrong and Repono forge strategic collaboration to advance grid-scale battery energy storage projects in Europe
ZHUHAI, China, July 1, 2025 /PRNewswire/ -- HyperStrong, a global leading provider of battery energy storage system (BESS) solutions, and Repono AB, a European developer of large-scale energy storage projects, have formalised their strategic collaboration through a Partnering Agreement on 23 June, aimed at jointly advancing 1.4GWh grid-scale energy storage projects across Europe by 2027. The strategic partnership brings together complementary skills required for the rapid, large-scale deployment of electricity storage. Repono's project development expertise including site development, permitting, and grid interconnection, will be complemented by HyperStrong's full-scope system integration capabilities, including BESS solution delivery and associated lifecycle services. The collaboration reflects a shared commitment to accelerating the energy transition, while supporting Europe's ambition to scale local value chains and strengthen long-term industrial resilience. 'We are excited to deepen our partnership with Repono to accelerate the deployment of safe, high-performance, and cost-effective energy storage infrastructure in Europe,' said Mr. Pingyang Wang, Senior Vice President of HyperStrong International and President of EMEA Region. 'This collaboration reflects our long-term commitment to the European market and our shared ambition to enable grid stability and energy transition in the region.' Mr. Karim Nils Grueber, CEO of Repono, stated: 'HyperStrong brings strong technical know-how and proven experience in delivering integrated BESS solutions which is complementary to Repono's extensive expertise in project development and more than 100,000 hours of BESS operations experience. We will lead with excellence in project design, permitting, and EPC coordination. Together, we aim to unlock the potential of grid-scale storage as a backbone for Europe's energy transition.' Mr. Greger Landén, CTO of Repono, also expressed: 'We have together with HyperStrong spent the last six months evaluating their technology and approach to the energy storage area. We have not only found a partner that is truly focused on performance and safety that aligns well with our values, but also a great team willing to discuss and develop our common approach in line with our needs for enabling the green transition in the European market.' Under the agreement, both parties will engage in joint planning and project reviews, including technical and commercial alignment on identified pipeline projects. The agreement reflects a shared intent to leverage their complementary strengths for mutually beneficial success in future grid-scale projects. ENDS About HyperStrong Beijing HyperStrong Technology Co., Ltd. ('HyperStrong', is a global leading energy storage system (ESS) integrator and service provider. Founded in 2011, with more than 13 years of research and development, as well as experience garnered through more than 300 energy storage projects and more than 30GWh of deployment, HyperStrong offers a portfolio of ESS products and one-stop solutions for the full spectrum of utility-scale, commercial and industrial applications. Having built four smart manufacturing bases, three R&D centers, two testing labs and a global marketing center, HyperStrong empowers clients worldwide to achieve their energy transition and carbon neutrality goals. For more information about HyperStrong, visit: About Repono Repono AB is a Sweden-based energy infrastructure developer focusing on large-scale renewable and storage projects in the European market. Repono's expertise spans project origination, permitting, financing, and coordination of engineering, procurement, and construction (EPC) activities with a focus on leveraging from the operational and software experience within the company. For more information about Repono AB, visit: View original content to download multimedia: SOURCE Beijing HyperStrong Technology Co., Ltd.
Forbes
30-05-2025
- Business
- Forbes
Billionaire Sukanto Tanoto's RGE, TotalEnergies To Build Solar Project In Indonesia
Solar panel cell. getty Royal Golden Eagle (RGE)—controlled by Indonesian billionaire Sukanto Tanoto—and French energy giant TotalEnergies agreed to develop a solar power project in Indonesia. Under the deal that was announced this week, the two companies, through their 50:50 joint venture Singa Renewables, will develop, build, and operate a solar power plant with a battery energy storage system in Indonesia's Riau Province, south of Singapore. 'We are taking meaningful steps to advance regional connectivity and contribute to the acceleration of the energy transition in the region,' Imelda Tanoto, managing director of RGE, said in the statement. The project will be constructed in phases and will supply power for green industrial estates in Riau and also export the electricity to Singapore. The company, however, didn't disclose when the project will be completed. 'Our utility-scale project underscores TotalEnergies' commitment to supporting the region's energy transition efforts, while ensuring energy security,' Helle Kristoffersen, president for Asia of TotalEnergies said. Last September, Singa Renewables secured conditional approval from Singapore's Energy Market Authority to import one gigawatt of solar-generated electricity to the city state. With a real-time net worth of $3.4 billion, Tanoto is among the wealthiest in Indonesia. His privately held RGE is a diversified conglomerate with over $35 billion in assets across pulp and paper, palm oil, and energy industries, employing 80,000 people globally. Through his real estate arm Pacific Eagle Real Estate, he has expanded his property portfolio across China, Singapore and Europe.
Reuters
22-05-2025
- Business
- Reuters
Solar shines as Germany's top electricity source in April: Maguire
LITTLETON, Colorado, May 22 (Reuters) - Solar farms are set for a record stretch of power sector dominance in Germany after becoming the single largest generation source in the country at the earliest point of the year ever. Solar farms generated more power than all other generation sources in April, according to data compiled by LSEG, which was a month earlier than recorded in 2024 when solar farms became the country's primary power source from May through August. If solar plants remain the single largest power source through August, that would mean that Europe's largest economy would be primarily powered by solar farms for five straight months, with fossil fuels playing only a back-up role. And with Germany's total power needs set to slide in the summer as heating demand stops, the share of clean power in the generation mix could climb to record highs - furthering energy transition progress in the influential country. The roughly 11,920 gigawatt hours (GWh) of power generated by Germany's utility-scale solar farms was 31% larger than generated during the same month in 2024, and nearly 60% more than generated in April of 2023. Total generation from solar farms in April also exceeded the 10,600 GWh generated by Germany's coal plants and the 9,634 GWh generated by wind farms, LSEG data shows, and helped cement solar's status as a key power source during spring and summer. Key to solar's expansion has been a 90% rise in solar generation capacity since 2019, with roughly 90 gigawatts of utility-scale solar capacity in place in the country as of 2024, according to data from energy think tank Ember. The roughly 43 GW of solar capacity added since 2019 dwarfs the capacity increases of other power sources over the same period, and compares to 12 GW of wind power and around 5 GW of gas-fired power added during the 2019 to 2024 window. Germany's solar capacity increased by 20% just within 2024 alone, with 15 GW of new capacity put in place last year. That larger footprint in turn helped to boost solar's share of the generation mix to new heights, with the 32% share registered in April up sharply from the 23% share posted during the same month in 2024. Going forward, solar's share of the generation mix will likely continue to set new records in the coming months, with last year's record share of 35% - scored in July - a viable target as soon as next month. As solar farms only generate power during daylight, Germany's power firms must maintain other generation sources at the ready to balance system needs. So far in 2025, coal-fired power plants have been the country's main alternative to renewable supplies, with coal-fired power generation jumping by 44% during the first four months of 2025 from the same period in 2024. Gas-fired power generation also climbed sharply during January to April - by 26% from the year before - to make up for a steep shortfall in output from German wind farms, which was down by around 31% from January to April 2024. During the upcoming summer, coal and gas-fired plants will retain a key role in Germany's overall generation system, especially in the evenings once solar production slumps. However, rapid expansions in utility-scale battery systems will likely act as a cap on fossil fuel generation this summer even when solar production stops. Germany's utilities added just over 6 GWh of battery storage systems in each of the past two years, according to SolarPower Europe, a regional renewable energy association. That battery storage capacity base - the largest in Europe - will allow utilities to store surplus solar power when it is generated during the day, and then discharge it to customers during peak consumption periods in the evening. In turn, that extra power supply from battery systems will help limit the need for fossil fuel power output, and ensure that Germany's power system can make maximum use of the country's continually-growing solar resources. The opinions expressed here are those of the author, a columnist for Reuters.
