The values of the successful bids range from €6.93c/kWh to the maximum permissible value of €7.35c/kWh. The average price stood at €7.15c/kWh, compared to €7.33c/kWh in the previous round.

The five projects represent a total investment of SAR35bn (US$9.3bn) and align with Saudi Vision 2030 goals to achieve a balanced energy mix with 50% renewables and 50% gas.

The US$4bn Terra Solar project will also feature a 4.5 GWh battery energy storage system (BESS). The project is developed by Terra Solar, a subsidiary of Solar Philippines New Energy Corporation (SPNEC).

An electricity shortage is bearing down on the nation and there are no easy fixes. Trump has laid out an energy policy that would emphasize oil and gas drilling and environmental controls and curbs on the rate of wind generation deployment. None of that will get us through the impending crisis as the demand for more electricity is surging.

The UK awarded significantly more capacity in this CfD round than in the previous. In 2023, the UK awarded only 3.7 GW of renewable capacity, including 1.9 GW of solar capacity and 1.5 GW of onshore wind.

The first agreement was signed between Egypt’s Ministry of Electricity and a consortium of the UAE’s TAQA and France’s Voltalia for the development of a 3.2 GW renewable energy project, which will feature 2.1 GW of solar and 1.1 GW of wind capacity. The project would be located around 130 kilometers south-east of Cairo, near the 545 MW Zarafana wind project, and could be commissioned by 2028.

As renewable energy sources like solar and wind become more widespread, their inherent unpredictability introduces new challenges. Unlike traditional fossil fuel power plants, renewable generation is intermittent, making it harder to forecast production and balance the grid.

Ammonia, which consists of nitrogen and hydrogen, boasts a high energy density, making it a practical medium for hydrogen storage and transport.

Solar and wind generation facilities are approximately the same capital cost per unit of rated capacity as fossil fueled generation facilities. However, the renewable generators have a capacity factor approximately one third the capacity factor of the fossil generation facilities.

Electricity being the key driver for rapid economic growth and poverty alleviation sets the target of providing access to all households.

The world’s biggest polluter can cut its carbon dioxide emissions by at least 30% by 2035 by continuing trends in the power sector and extending efforts in other industries

The Saudi Power Procurement Company (SPPC) has launched a tender to procure 4.5 GW of solar and wind energy projects across Saudi Arabia.

India plans to connect 35 GW of solar and wind energy capacity to its grid during the fiscal year 2024-2025,

The independent DEFRs do not require the availability of surplus renewable electricity. In fact, the independent DEFRs would not require the existence of intermittent renewable generation to support a reliable grid. They effectively render the renewable generators redundant; and, redundancy is expensive.

When you shackle the most cost effective and scalable source of energy, fossil fuels, and you subsidize unreliable solar and wind, that wouldn’t otherwise be competitive, energy necessarily becomes more expensive, less reliable and less secure. So again, it’s very simple.