Finance

In a trend that is probably not unfamiliar to others generating electricity, the Tennessee Valley Authority reported that sales of electricity in fiscal year 2020 were about 5% lower compared to 2019, “due to overall milder weather and impacts of the COVID-19 pandemic.” TVA reported $10.2 billion in total operating revenues on more than 151...
Finance

Hydropower projects around the world could soon be independently rated and certified for their sustainability performance, following a public consultation open to all stakeholders. The International Hydropower Association (IHA), on behalf of a multi-stakeholder coalition of industry, civil society, governments and financial institutions, has published a consultation paper on the development of a global sustainability...
Finance

Spanish multinational energy company Iberdrola has announced a €75 billion ($89.1 billion) economic recovery plan to be implemented over the next five years. The investment plan will help the utility to accelerate its energy transition whilst boosting jobs in countries the group operates. The plan will enable Iberdrola to double its renewable energy capacity. The...
Research and Development

“Renewables appear to be immune to Covid-19,” said Fatih Birol of the International Energy Agency this morning, as he revealed that clean energy had defied the pandemic downturn that has hit all other areas of the power sector. Speaking at a press conference for the launch of the IEA’s latest report into renewables, executive director...
Finance

Innergex Renewable Energy Inc. and the Pituvik Landholding Corporation announce the closing of a $92.8 million non-recourse construction and term project financing with The Manufacturers Life Insurance Company for the construction of the 7.5-MW Innavik small hydro project. Innavik is a run-of-river hydroelectric facility on the Inukjuak River near Inukjuak, Nunavik, in northern Quebec. The...
Finance

Honduran state power company ENEE’s plan to overhaul the 300-MW Francisco Morazan (also called El Cajon) complex, the country’s largest power plant, has received a boost after the IDB approved US$18 million for the US$36.8 million project, according to BNamericas Francisco Morazán is on the Comayagua River in Cortés department, about 230 km from the capital...
Small Hydro

The World Bank has increased funding for the Haiti: Renewable Energy for All Project by approving an additional $6.9 million for the initiative. The bank’s International Development Association (IDA) will provide up to $4 million of the additional financing as a grant, and $2.9 million will be provided by the Energy Sector Management Assistance Programme...
Finance

The Climate Endowment Group and eHydro500 have created the Climate Endowment Hydropower Fund (CEHF), an institutional investment fund focused on investing in midsized hydropower plants across Europe. The Climate Endowment Group is a climate-focused investment company employing the multi-asset class endowment style pioneered by Yale and Harvard universities. eHydro500 is an interdisciplinary team of hydropower...
Finance

Renewable energies, particularly hydro, are powering a growing share of Bitcoin and other proof-of-work mined cryptoassets. The ‘3rd Global Cryptoasset Benchmarking Study’ shows that the share of renewables in the total energy consumption of proof-of-work miners globally has reached 39%. This compares with the 28% share recorded in the 2nd benchmarking study in 2018 and...