The decision of the Italian energy firm to acquire a 2.8 GW-plus solar pipeline in Spain and France has come on the same day it was announced Eni would assume 1 GW of solar capacity in Spain from another business. The value of neither deal, nor the form of finance involved, has been revealed.
Independent asset manager Azora is selling the renewable energy portfolio, which includes five large solar PV parks totaling 1 GW in advanced stages of development, located in Andalusia, Castilla-La Mancha, Castilla y León, Catalonia, Galicia, and La Rioja, to Eni.
Italian energy company Eni is partnering with local companies in Algeria and Egypt to explore the possibility of producing green and blue hydrogen in the North African countries. The United Arab Emirates is also collaborating with Japanese partners to develop the country’s hydrogen sector, while in New York, hydrogen has arrived in Long Island.
Private sector fossil fuel spending on exploration is drying up just as modest rises in clean energy investments are being observed. With stock market investors increasingly embracing renewables, the IEA has observed positive signals in its latest energy investment report, but warned we are still doing far too little to keep global heating at bay.
Cassa Depositi e Prestiti Equity and the Italian energy giant have created a joint venture that will invest around €800 million in renewables in their homeland by 2025. The two companies are planning to build large scale plants with the option of utilizing properties owned by the Italian government.
The two Italian energy giants have joined forces to bring online 20 MW of hydrogen capacity between 2022 and 2023. Two 10 MW pilot electrolyzers will be built at unspecified Eni refineries.
Plans to issue a request for proposals related to the contracts to develop twin 500-600 MW solar plants in the sultanate by the end of this month appear to have slipped but the head of awarding utility the Oman Power and Water Procurement Company has reportedly stated the process is in train.
The tariff is around $0.0021 lower than the $0.0156/kWh French oil giant Total and Japanese conglomerate Marubeni Corp offered in Qatar’s 800 MW tender in late January. French energy company EDF and Chinese solar company JinkoPower reportedly submitted the record bid in the UAE exercise.
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