Renewable Energy Projects

The company plans to participate in the upcoming floating wind lease sale in the Celtic Sea, under which 4 GW of capacity is scheduled to be tendered in mid-2023. The Crown Estate has narrowed the "areas of search" and plans to first tender "early scale" leases.

The purchase price comprises $213mn in equity and the assumption of $180mn in net debt. AES will partially fund the acquisition via a private capital increase through the issue of common shares, which is expected to raise a maximum of $216mn. AES’ existing controlling shareholders have committed to subscribe to a minimum of $100mn of shares

The projects include two 100 MW power plants that are set to begin construction soon. The construction timetable is 14 months, with the projects expected to be operational by the end of 2023. SOLA Group also formed a joint venture with Wilson Bayley Holmes-Ovcon (WBHO) for the asset design and construction.

In light of the recent sale of a 12.5% stake in the 1.2 GW Hornsea One offshore wind project in the UK, the Enerdatics research team has analyzed the growth in the project's enterprise value (EV) since Orsted consolidated its position in the asset in 2015.

The company acquired the stake from private equity investor GULF ENERGY for $314mn. The deal mark's Keppel Corporation Limited's and KIT's entry into the offshore wind generation segment, and is in line with Keppel's strategy to pivot from offshore oil and gas operations.

Under a 12-year PPA, Google will offtake more than 5 TWh of green energy from a 100 MW share of the 882 MW Moray West offshore wind project in the UK. The project has secured a 15-year CFD from the UK government for the delivery of 294 MW at a fixed price of 37.35£/MWh.

The 12-year, virtual PPA covers electricity and the associated RECs from a 115MW share of the project. Power will be off-taken by Campbell Soup Co, helping the company reduce its Scope 2 GHG emissions and progress on its 2030 target.

The tech giant has signed a PPA contract with Indonesia’s state-owned electric utility PLN to procure power from four solar projects located in Bali and Java Island. Amazon’s AWS division launched its first cloud region in Indonesia in 2021.