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Siemens Gamesa's €4.3bn loss in 2023 has propelled parent company Siemens Energy to a €2.8bn loss in the 12 months that ended on 30th September.

Siemens Energy revealed the scale of its difficulties in its 2023 financial report today. It said its wind business Siemens Gamesa "remains a major challenge" due to "an unexpected, serious setback" caused by revelations about its turbine quality. Siemens Gamesa has made a €4.3bn loss on revenue of €9.1bn in 2023.

However, the company added that it was making progress to remedy problems with turbine quality, and said sales of its 5.X platform are "still suspended".

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Norwegian utility Hydro Energi is seeking compensation over claims it has not received enough power from the 653MW Markbygden Ett wind farm in Sweden.

The company signed a power purchase agreement in 2017 to buy 1.65TWh annually from the Markbygden Ett wind farm in Pitea, northern Sweden. However, it is now seeking compensation of around €12m over production levels it said have been "significantly lower-than-expected".

Markbygden Ett is owned by China General Nuclear Power Group Europe Energy and BNR Infrastructure, which is owned by GE Capital and Silk Road Fund China.

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German utility RWE has teamed up with Hyundai Engineering & Construction to co-develop offshore wind and green hydrogen projects in South Korea.

The companies also said they would jointly explore offshore wind and green hydrogen opportunities globally. They added that partnership would draw on both companies' experience in hydrogen production projects.

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US-headquartered Arevon Energy has closed a $529 million financing for the Vikings solar-plus-storage project in California with a combination of debt financing and tax credit transfer. 

Arevon secured a commitment with J.P. Morgan to purchase $191 million of investment tax credits and production tax credits, “among the nation’s first transactions announced to date that leverage the Inflation Reduction Act’s transferability provision”, a statement said. The additional $338 million debt facility was financed with MUFG, BNP Paribas, Sumitomo Mitsui Banking Corporation, and First Citizens Bank, who acted as coordinating lead arrangers. National Bank of Canada also participated as a lender.

Located in Imperial County, California, the Vikings power plant features a configuration of 157 MWDC of solar coupled with 150 MW/600 MWh of battery energy storage. Vikings is contracted to provide resource adequacy and renewable energy to San Diego Community Power.

PV modules for the project were supplied by First Solar, along with solar trackers provided by Nextracker. Tesla is supplying the facility’s utility-scale batteries, which will power up to 50,000 homes. Construction of the facility is “well underway”, with commercial operations scheduled for the third quarter of 2024, according to a statement. San Diego-headquartered SOLV Energy is handling construction activities.

“Vikings has been a landmark project from its inception. It is one of the nation’s first solar peaker plants, and today it is one of the first utility-scale solar-plus-storage ITC and PTC transferability transactions to close since the Inflation Reduction Act passed in August 2022,” said Kevin Smith, Arevon’s CEO. “Vikings is an important project in our portfolio, representing Arevon’s ongoing commitment to powering the clean energy transition with renewable energy while using energy storage to enable solar to meet peak electricity demand and increase grid resilience.”

Stoel Rives represented Arevon as legal counsel,  Milbank LLP served as transfer counsel, and Winston & Strawn LLP served as lender counsel.

Germany-headquartered energy storage project developer Kyon Energy has received approval for a large-scale battery storage project in Alfeld (Leine), Lower Saxony. 

The facility will have a storage capacity of 137.5MW and a storage capacity of 275MWh, making it the “largest approved storage project in Europe to date”, a Kyon Energy statement said. 

Construction of the facility is scheduled to start next year, with commissioning to follow by the end of 2025.

The capacity of the project is sufficient to supply one million households with electricity for one hour. 

Florian Antwerpen, managing director of Kyon Energy, said: "It is essential for the success of the energy transition in Germany to massively expand storage capacities. Battery storage systems are indispensable for the integration of renewable energies into our electricity grids and the security of supply in Germany. The approval of the project in Alfeld is a decisive step towards a sustainable and independent energy future.”

Vattenfall Vindkraft has picked Vestas to supply 12 5.6MW turbines for the 67MW Velinga wind project in Sweden's Tidaholm municipality.

Vestas is set to begin delivering the turbines in the second quarter of 2025, which commissioning due by the end of 2025.

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Corio Generation, SK Ecoplant and TotalEnergies have picked Vestas turbines for the 504MW Gray Whale 3 project in South Korea.

The companies have chosen Vestas machines through their joint venture company BadaEnergy, which has also picked Hyundai Heavy Industries as engineering, procurement and construction (EPC) contractor for the scheme. Gray Whale 3 is part of the 1.5GW Gray Whale complex.

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Finnish independent power producer Ilmatar has secured a €500m debt package to support its expansion in the Nordics renewables market.

The funding was led by Copenhagen Infrastructure Partners through its Green Credit Fund 1, with participation from investors including Kommunal Landspensjonskasse and P Capital Partners. The package includes a day one tranche of €325m and an uncommitted increase option of €175m.

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Ørsted's chief financial officer and chief operating officer have left with immediate effect as the utility struggles in a "challenging and volatile business environment".

The Danish utility has announced that CFO Daniel Lerup and COO Richard Hunter have left the company, and that replacements are due to be appointed in early 2024. Rasmus Errboe will serve as interim CFO while Olivia Breese acts as interim CEO of Europe, and board member Andrew Brown is interim COO.

Mads Nipper, group president and chief executive officer at Ørsted, said: “Ørsted, along with the rest of the industry, is experiencing a challenging and volatile business environment. Therefore, the Board of Directors and I have agreed with our current CFO and COO that we need new and different capabilities to lead the Finance and EPC & Operations functions to strengthen Ørsted’s journey into the future."

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Australian energy storage developer Green Gravity and Complexul Energetic Valea Jiului S.A. (CEVJ) have executed a cooperation framework agreement to explore the application of Green Gravity’s  energy storage technology in 17 mine shafts at the four mining operations in the Valea Jiului in Romania. 

The agreement outlines the scope and objectives of a joint study to “assess the technical, economic and environmental aspects of converting CEVJ's existing coal mines into energy storage facilities”, a statement said.

The study will also evaluate the potential benefits and challenges of integrating an energy storage system with the existing power grid and renewable energy sources. 

Mark Swinnerton, CEO of Green Gravity, said: "We are delighted to collaborate with CEVJ on this innovative project, which has the potential to transform Romania's coal sector into a renewable energy storage hub, creating jobs, growth and innovation. Our technology offers a unique solution to store excess renewable energy using gravity, which can help balance the power grid and support the EU's climate goals. Successfully implementing gravitational energy storage in the Valea Jiului will provide a leading example for successful transition of a coal mining region. This project has global implications for climate, jobs and investment.” 

Eusebiu Durbaca, managing director of CEVJ, said: "We are pleased to partner with Green Gravity, a world-class company in the field of clean energy. This project is part of our strategy to diversify our energy portfolio and explore new opportunities for value creation from our coal assets. We believe that gravitational energy storage is an innovative approach to energy transition, and we are committed to contributing to Romania's and Europe's energy transition and green recovery."

Stationary battery manufacturer Hithium has entered into a cooperation agreement with energy storage project developer Perfect Power LLC, which operates primarily in Texas and California. 

Under the terms of the deal, Hithium will supply 1GWh of battery products.

Focusing on Texas, which has the second most installed solar capacity of any US state, Perfect Power is “concentrating on sustainable, reliable and renewable clean power generation and energy storage,” a statement said.

Anthony Maselli, Perfect Power CEO, commented, "Battery performance and durability are crucial for us, with our focus on facilitating a more flexible grid and reliable clean energy for the neighborhoods and regions our projects serve. Having a supplier like Hithium gives both our investors and our end-consumers’ confidence that they can depend on our projects."

Hithium chairman Jeff Wu added: "Cooperating with Perfect Power is an exciting step for us in the US, allowing us to support projects in two of the country’s largest energy markets, California and Texas. Through this collaborative endeavour, we aim to further the penetration and deployment of advanced energy storage products into the NetZero transition in the US."

Long-duration energy storage (LDES) can abate up to 65 per cent of industrial emissions “using currently existing technologies”, according to a new report from the LDES Council and management consultancy Roland Berger. 

Industrial carbon dioxide emissions account for around one quarter of greenhouse gasses emitted annually worldwide. “Growing by more than two percent annually, these industrial emissions are increasing the difficulty of achieving global net-zero emissions targets,” the LDES Council and Roland Berger said in a statement.

The four categories of LDES technology – electrochemical, thermal, mechanical, and chemical – are “viable, cost-effective, and readily applicable options now for industrial decarbonization when paired with renewable energy,” the report - entitled ‘The Driving to Net Zero Industry Through Long Duration Energy Storage’ concluded.

By storing energy during the lowest cost times or during periods when production is higher than consumption, long-duration energy storage provides reliable power for off-grid applications and reliable heat and power for grid connected industrial applications, according to the LDES Council and Roland Berger.

Major industrial players are investing in these technologies, with Microsoft, Tata Steel and BHP already embarking on projects to demonstrate the ability of LDES technologies to decarbonize their operations. In off-grid facilities, LDES can replace expensive diesel fuel with more affordable renewable electricity, providing round-the-clock power for industrial customers.  Providing energy storage beyond ten hours can enable remote mines, data centres, and other off-grid industrial operations to run on 24-7 carbon-free power. 

LDES also supports decarbonising high-temperature industrial manufacturing, which currently relies on burning fossil fuels to produce heat. This demand for industrial heat is expected to grow by 34 per cent between 2019 and 2040, with low and medium-temperature heat the fastest-growing segments.         

LDES can reduce these emissions at food processing and chemical facilities with heat requirements below 500°C. The food and chemicals industries alone account for over 20 per cent of industrial emissions. Meeting their needs with thermal energy storage solutions powered by electricity from the grid will have a sizable impact on global emissions. 

To meet these targets, new policy mechanisms may be necessary to bridge current cost gaps. Long-term market signals, secure revenue mechanisms, and technology support will accelerate industrial decarbonisation. 

Julia Souder, CEO of the LDES Council, said: “Decarbonizing industry is one of the largest challenges we face on our journey to achieve net zero. This report finds that there is no time to waste and no reason to delay action. LDES and renewables can be crucial in cost-effectively reducing emissions across key industrial sectors in the short, medium, and long term. Some of the world’s biggest companies are adopting long duration energy storage technologies to support industrial processes. However, we require policy-makers to create the right market mechanisms and provide effective support to supercharge the success of these solutions.” 

Siemens Gamesa has scrapped plans to build a $200m factory in US state Virginia to produce blades for offshore wind turbines.

The company said it had ended the plan because "development milestones... could not be met". The facility was planned at the Port of Virginia in Portsmouth.

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Ørsted has exited a partnership with Fred Olsen Seawind and Hafslund that is set to bid in Norway's upcoming offshore wind tenders.

Fred Olsen Seawind's parent company Bonheur announced the change today, but said the remaining partners would continue to explore bids in the upcoming Utsira Nord tender and other offshore wind tenders in Norway.

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• Portuguese police have raided 42 properties including the PM's official residence
• They are looking at alleged corruption in four projects, including a hydrogen hub
• Prime Minister Antonio Costa resigned but said he has a "clear conscience"

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Green hydrogen firms will only be able to realise the full potential of the technology with support from politicians. However, sometimes that support goes too far. That is the accusation at the heart of a green hydrogen scandal that is rocking Portugal.

On Tuesday 7th November, Portuguese police raided 17 homes, including the prime minister’s official residence São Bento Palace, and 25 other properties, including the government ministries in charge of infrastructure, environment and climate action.

The police were seeking evidence of corruption in recent green hydrogen and lithium exploration deals, including allegations that politicians gave preferential treatment to Portuguese firms where they would personally benefit. The Attorney General’s Office in Portugal published further details of the probe in this statement last Tuesday.

The probe relates to four projects: a green hydrogen production hub in Sines; a pair of lithium exploration schemes; and the Start Campus data centre development. But it now threatens the reputation of the green hydrogen industry in Portugal; upcoming tenders for green hydrogen and offshore wind; and the future of the government. On Tuesday afternoon, António Costa resigned as Portugal’s prime minister because he said his role was incompatible with the probe, but said he has a “clear conscience”.

Seven defendants

The police has named seven people as defendants in these investigations. 

Five of have been detained: Vítor Escária, the head of the Prime Minister’s office; Diogo Lacerda Machado, a businessman who is also reportedly a close friend of Costa; Nuno Mascarenhas, the mayor of Sines; and Start Campus administrators Afonso Salema and Rui Oliveira Neves. 

In addition, Infrastructure Minister João Galamba and Nuno Lacasta, chairman of the board of directors of the Portuguese Environment Agency, are named as defendants.

Key to the investigation is the claim by newspaper Correio de Manhã that São Bento Palace was used for meetings where politicians lobbied for preferential treatment by favoured firms. The green hydrogen project under investigation is the H2Sines plant, where the H2Sines consortium was set up in 2019 including high-profile players such as EDP, Engie, Gap and Vestas. EDP and Galp exited the group in 2021 to form the GreenH2Alantic consortium, but work continues on H2Sines, where a first shipment of liquefied hydrogen is sue to be supplied to Dutch port Rotterdam in 2028.

The other three projects under investigation include two lithium exploration projects in Romano and Barroso; and the Start Campus data centre project in Sines, where it is alleged that the project was only designated as a project of national interest – and therefore secure public funds – because of the involvement of Lacerda Machedo.

The prosecutor says its investigation involves “alleged malfeasance, corruption of elected officials, and influence peddling” in awarding the concessions. In response, Costa has said he has a “clear conscience” about the allegations, and he was “not conscious of having done any illegal act or even any reprehensible act”. 

However, this is the latest in a series of corruption scandals since he became prime minister in 2015. The political turmoil caused by these investigations and Costa’s exit must also cast doubt over planned green hydrogen and offshore wind tenders.

What happens next

It is natural for national governments to seek to promote their own companies in their tender processes. It is normal to see more French companies in winning tender bids in France, for example. Arguably, it also helps the renewables sector if governments can show that economic benefits of projects are being returned to local companies.

But this scandal in Portugal shows why it is important for politicians at both national and local levels to be fair and transparent in how they support projects. Renewables and power-to-X projects are now larger and more important than ever, which brings with a high level of scrutiny – and reputational damage for all if corruption is alleged.

This is not even the first corruption probe related to renewables in Portugal. Top EDP executives were implicated in an investigation in 2020 over accusations that former economy minister Manuel Pinho had received favours from them between 2005 and 2009. EDP has consistently denied the allegations, which it argued are “without any grounding in facts”, but these negative claims cast a long shadow. The court case about these claims was only able to, belatedly, start last month.

Therefore, the challenge for green hydrogen in Portugal is twofold. First, questions related to the H2Sines complex are, at best, a distraction for the developers; and, at worst, raise questions about whether support for projects have been awarded fairly. 

And second, the collapse of the government into a morass of corruption allegations can only cast doubt over whether announced tenders will happen on schedule. This includes a tender announced in October for developers keen to inject hydrogen into the gas grid, and the country’s first offshore wind tender, where developers are set to submit initial expressions of interest by 14th November.

Costa may be gone, but his government remains – at least for now.

• Australian battery funding programme was ten-times oversubscribed
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• Demand due to country having world’s most volatile electricity market, as studies prove
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• Market is responding to demand, with recent announcements from Octopus, Fluence and Hydrostor
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• However, limited ‘commercially mature’ options for long-duration storage

Australia is a nation that is desperate to install more energy storage capacity. A stark reminder of the country’s dire need for more such assets came last week with an announcement from the Australian Renewable Energy Agency (ARENA) that provided an update on round one of the Community Batteries Funding Program. To provide some context, back in April this year, ARENA opened the first round of the scheme, with the stated aims of lowering energy bills, cutting emissions and reducing pressure on the electricity grid through the development of community battery projects.

The response to the call for funding applications was overwhelming, with ARENA describing the demand as unprecedented. In total, ARENA received 140 eligible applications across all states and territories, with a total grant request of $1.3 billion. It represented more than ten times the $120 million funding available in the first round. In response, ARENA has shortlisted 31 applications to be invited to submit full applications. The agency stated that shortlisted applicants must install a minimum of five community batteries, between 50 kW and 5 MW in size each, and be connected to the distribution network. ARENA hopes that the first battery storage projects will act as knowledge banks that other developers of future projects – across the entire country – can draw upon.

What’s driving the demand for storage?

It’s unsurprising that communities across Australia are anxious to quickly install storage facilities in their local area when you consider that recent research showed that Australia’s electricity market is the most volatile in the world. Research conducted by Rystad Energy concluded that the country’s power market was suffering from unexpected losses of supply from unplanned coal generation outages and transmission line problems caused by natural disasters, with the result being huge price fluctuations. Indeed, the study said that Australia’s National Electricity Market (NEM) – which interconnects power markets in Queensland, New South Wales, Victoria, Tasmania and South Australia – is experiencing the most fluctuations in daily prices of any system worldwide (see chart below).

In conducting the research, Rystad analysed public price data from 39 electricity markets globally and discovered that Australia’s NEM is the most volatile with “domestic price spreads for Queensland and South Australia seeing the widest spreads of all markets”. The key metric used to measure volatility is the average one-hour intraday spread for a year of data, that is, the difference between the highest and lowest price during a given hour. Other markets that experience high volatility are Japan and the Philippines, as well as the US states of California and Texas, but none are quite as volatile as the Australian market.

Public opposition to transmission upgrades

Causes of volatility include transmission line problems caused by natural disasters such as cyclonic winds or bushfires, phenomena that have become more devastating and frequent in recent years. If that wasn’t problematic enough, plans to build more transmission lines in Australia are being opposed by protest groups – the proposed Western Renewables Link (WRL), a 190-kilometre project managed by transmission company AusNet Services, which will run from western Victoria into Melbourne, is one such plan that is facing particularly vociferous opposition. 

Given the fluctuations in prices, Australia is in need of additional storage capacity - a total of 46 GW/640 GWh of pumped hydro and utility-scale battery storage capacity will be needed to balance the market by 2050, a significant increase from the current 2.8 GW of capacity.

Opportunity for developers to tackle storage shortage

With electricity prices fluctuating so violently – a scenario which, as Rystad Energy highlighted, is unsettling for retailers who lack proper hedging strategies and for consumers who have to bear the brunt of the associated costs – developers are responding to the demand for investment in storage. Last month, Octopus Investments Australia acquired the 1GW Blackstone battery energy storage system in Queensland, which is expected to have an $800 million enterprise value when operational – the project, located 30 kilometres from Brisbane, is being developed by Firm Power. Meanwhile, in September, it emerged that energy storage provider Fluence Energy had been selected by Tilt Renewables to deliver the 100 MW / 200 MWh Latrobe Valley battery energy storage system (BESS) located south of Morwell in Victoria, Australia. Under the terms of the deal, the Latrobe Valley BESS will be developed by Tilt Renewables and will be built, serviced, and maintained by Fluence under a 20-year long-term service agreement. It represented Tilt Renewables’ first battery energy storage system in Australia and demonstrated how the considerable potential of the country’s storage sector is attracting new market entrants.‍

Hydrostor signs Silver City deal

Elsewhere last month, long duration energy storage developer Hydrostor and mining project developer Perilya entered into a binding agreement to leverage the existing mining assets at Perilya’s Potosi Mine in Broken Hill, Australia to support the construction of the Silver City Energy Storage (SCES) project. The project - which has been selected by Transgrid as the preferred provider of backup power for Broken Hill and the Far West region of New South Wales – is supported by the New South Wales Government under the Emerging Energy Program and by the Federal Government via a grant from the Australian Renewable Energy Agency (ARENA). Also last month, the Australian federal government granted approval for Edify Energy’s Smoky Creek Solar Power Station, a solar and storage project located in Central Queensland - 75 kilometres south of Rockhampton and 40 kilometres north of Biloela – which, once complete, could generate up to 1,200 GWh of renewable energy per year. Meanwhile, Edify Energy and infrastructure investor Sosteneo also completed the AS$400m project financing for the 185MW / 370MWh Koorangie battery storage system that will be built in the Murray River region, near Kerang, Victoria.

Few ‘commercially mature’ options for longer duration storage

With Australia looking to rapidly build out its storage capacity given the volatility of electricity prices in the country, we can expect investment to flood into the sector in the coming years. However, there are significant barriers to deployment that mean Australia may not deploy the storage it badly needs fast enough. The Australian Energy Council has said there are limited commercially mature options for storage of varying durations, which is what is needed to deal with changes in supply and demand. It has also highlighted how, with regard to more remote communities, there will be a need for storage that can “maintain power quality and deliver reliable energy for days or weeks”. Addressing these challenges will be imperative if storage is to successfully tackle the problem of Australia’s fluctuating electricity prices.

Solar developer Emeren Group has sold a portfolio of five battery energy storage systems (BESS) - with a total capacity of nearly 3.8GWh - in Italy to Matrix Renewables.

The five projects feature standalone storage systems, with a cumulative capacity of 3,787 MWh, are located in the Italian southern region of Apulia. Ready-to-build status is expected to be achieved by late 2024.

Yumin Liu, CEO of Emeren Group, said: "We are extremely proud of this transaction, which is also evidence of Emeren's unwavering commitment and our ability to deliver on our growth promises. We are not only reinforcing our leadership in the European storage pipeline development, but we are also setting new industry benchmarks, particularly in Italy. We are also extremely glad that the partnership with Matrix is flourishing, bringing mutual success and expansion opportunities to both entities in this rapidly evolving sector."

Chris Matthews, MD for Europe at Matrix Renewables, added: "Our partnership with Emeren underscores our commitment to driving renewable energy expansion and sustainability in the vibrant Italian market. The acquisition of the 410 MW BESS portfolio significantly advances our mission to reshape the energy landscape and fortify the resilience of the power grid."

Utility-scale energy storage developer Aypa Power has successfully closed a $550 million portfolio debt and tax equity financing.

First Citizens Bank & Trust Company, Nomura Securities International, Inc., National Bank of Canada and MUFG Bank, LTD. served as lenders, with US Bancorp Impact Finance serving as the portfolio's tax equity investor.

The portfolio financing supports both the Cald project, a 100 MW / 400 MWh standalone battery storage project in urban Los Angeles, California - which secured a long-term tolling agreement with San Diego Gas & Electric - and the Borden County project, a 150 MW / 300 MWh battery storage project in Texas. 

Both projects are under construction and set to commence commercial operations in 2024.

Marc Atlas, chief financial officer at Aypa Power, said: "Our financial partners are confident in Aypa Power's ability to deliver impactful energy solutions benefitting both the grid and Aypa's customers. We look forward to working with the investor community to bring more standalone battery and hybrid systems online, as customer demand continues to grow across North America."

Louise Pesce, managing director of project finance at MUFG, added:, "MUFG is proud to have partnered with Aypa Power, as well as our fellow lead lenders in Nomura, First Citizens Bank and National Bank of Canada, to lead the financing for these two standalone battery storage projects, which will be essential components in enhancing the reliability and effectiveness of renewable energy systems in California and Texas."

Adam Altenhofen, US Bancorp Impact Finance senior vice president, said: “Our financing helps facilitate the energy transition and it's exciting to consider the potential impact of these projects in California and Texas."

Siemens has secured a provisional deal with the German government for billions of euros in project-related guarantees for Siemens Energy.

Reuters has said the guarantees, which are reportedly worth around €15bn, would support Siemens to supply technology including wind turbines. The agreement needs to be formally drawn up and approved by Siemens Energy shareholders.

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Developer Deep Wind Offshore and green fuels firm Hy2gen have agreed to co-develop projects that use offshore wind to power green hydrogen production.

Deep Wind is developing offshore wind projects in Norway, Sweden and South Korea, while Hy2gen operates green hydrogen facilities in Europe and North America.

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The US Department of Energy (DOE) has confirmed that Generac Power Systems, Sunnova Energy Corporation, Sunrun will be among the solar companies and nonprofits that have been selected to install rooftop solar and battery storage systems for vulnerable households in Puerto Rico with an initial $440 million tranche of funding.

The solar and storage systems will be financed via the Puerto Rico Energy Resilience Fund (PR-ERF). 

The first tranche of funding will help lower energy bills for up to 40,000 single-family households in Puerto Rico, the DOE said.

The funding will also “support thousands of local clean energy jobs, help achieve President Biden’s goal of lowering energy costs for all Americans, as well as help Puerto Rico achieve its goal of 100% renewable energy by 2050,” according to the DOE.

DOE anticipates the first installations will begin in Spring 2024.

“With this announcement, we take a critical step forward in our efforts to ensure that all Puerto Rico residents have reliable electricity, especially the most vulnerable families and communities for whom a lack of power can be life or death,” said US Secretary of Energy Jennifer M. Granholm. “Plain and simple, this investment will save lives, all while providing local, good-paying jobs and advancing Puerto Rico’s clean energy transition.”

Eligible beneficiaries of the systems to be installed will include very low-income, single-family households that are either:

• Located in areas that have a high percentage of very low-income households and experience frequent and prolonged power outages; or
  
  
• Include a resident with an energy-dependent disability, such as an electric wheelchair user or individual who uses at-home dialysis machines.

DOE selected three solar companies with an existing workforce in Puerto Rico as well as five qualified nonprofits and cooperatives across the region to begin award negotiations for a total of $440 million to deploy residential solar systems to vulnerable Puerto Rican households.

The following companies will enter the negotiations and may be awarded $400 million in total: Generac Power Systems, Sunnova Energy Corporation, and Sunrun.

The following nonprofits and cooperatives in Puerto Rico will also enter award negotiations and may be awarded $40 million in total: Barrio Eléctrico; Comunidad Solar Toro Negro, Inc.; Environmental Defense Fund; Let's Share the Sun Foundation; and Solar United Neighbors, Inc. 

CATL and Quinbrook have signed a global framework agreement for stationary storage with the aim of deploying more than 10GWh of CATL's storage systems over the next five years.

The long-term partnership covers the design, optimisation, and supply of CATL storage systems to Quinbrook’s large scale renewables infrastructure projects and those of its portfolio companies operating in the US, UK, and Australia. 

Quinbrook and CATL are currently jointly assessing the first 1GWh of projects in Australia and the UK.

“The partnership will help position Quinbrook to address the rapidly growing demand it sees for mega-scale renewable energy supply projects that are teamed with large-scale energy storage solutions that meet the most stringent safety and reliability standards,” a statement said.

CATL will initially supply Quinbrook with its outdoor container solution called ‘EnerC Plus’, which can “adapt and respond to extreme weather events and harsh local conditions”, the statement added. EnerC Plus also features CATL's latest liquid-cooling solution, which, the company says, “further improves safety and reliability for successful grid interface and compliant operations”.

Brian Restall, Quinbrook's managing director for Australia and the co-chair of Quinbrook's global procurement committee, said: "Quinbrook has a long history of working closely with CATL for our innovative stationary storage projects. We are impressed by the quality of CATL's technology that consistently tops DNV's annual Battery Scorecard report, their robust product supply chains and the company's commitment to investing in research and development to maintain their cutting edge technical advantage. We look forward to continuing our working partnership and assessing the viability of CATL's ultra long duration storage solutions as well."    

Tan Libin, vice president of CATL, said: "We are excited to strengthen partnership with Quinbrook, which is experienced in leading investments and initiatives that support a stable transition to a decarbonised power system. Together with Quinbrook, we look forward to implementing more large-scale battery energy storage projects globally with our innovative solutions, so as to help address climate change and move towards a clean and sustainable future."

Growth markets specialist Denham Capital has concluded the sale of Brazilian platform Rio Energy to Norwegian giant Equinor.

Denham Sustainable Infrastructure has agreed to sell Rio to Equinor, but will continue to manage around 1GW of Rio's assets in Brazil via its new development and operating arm Pontal Energy.

These 1GW assets include three operational onshore wind projects totalling 500MW; a 200MW wind farm that is currently under construction; and 300MW of development-stage onshore wind and solar schemes.

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Lhyfe has won a deal to supply green and low-carbon hydrogen for a network of filling stations run by HYmpulsion in France's Auvergne-Rhône-Alpes region.

HYmpulsion was formed in 2018 by Banque des Territoires, Crédit Agricole, Engie and Michelin to support the use of green hydrogen vehicles in the region's Zero Emission Valley project. The ten-year deal is for up to 1.6 tonnes of green and low-carbon hydrogen a day from 2025 from a production site in Le Cheylas, Isère.

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