Vestas set to supply turbines for German wind project: Danish wind turbine manufacturing firm Vestas was appointed as preferred wind turbine supplier for the 1.6 GW Nordseecluster wind project in Germany, the company noted in a press release. The project is a joint venture between German energy company RWE and Canadian electricity generation firm Northland Power.

QIA partially owns RWE: Qatar’s sovereign wealth fund — Qatar Investment Authority (QIA) — invested EUR 2.4 bn in major German utilities provider RWE Last October in a debt-to-equity swap that will eventually see QIA own 9.09% of RWE. RWE anticipates the transaction can be completed in 1H 2023.

Part of Vestas’ rapid global expansion: The company signed a conditional agreement to launch wind energy projects generating 1.3 GW of power in Brazil, according to a company statement. The price tag and timeframe of the project have not been disclosed yet.

EIB, EU Commission earmark EUR 4 bn to support clean energy transition: The European Investment Bank (EIB) and the European Commission signed off on a finance package of loans and trust fund contributions totalling EUR 4 bn to support clean energy and sustainable transport projects for member countries of the African, Caribbean and Pacific (ACP) Group of States, according to a statement. The EIB and European Commission will disburse concessionary loans totalling EUR 3.5 bn and a EUR 500 mn trust fund contribution to its ACP Trust Fund until 2027 under the newly approved finance package. The concessional loans will go towards supporting green and digital transitions in the partner countries and the trust fund contribution will support high impact projects such as off-grid renewable energy power plants.

Indonesia officially broke ground on a USD 2.6 bn hydropower facility yesterday, Reuters reports. The 1.375 GW Mentarang Induk plant will be connected to an industrial park including facilities for EV and battery manufacturing, as well as aluminum and petrochemicals, the newswire quotes Indonesian President Joko Widodo as saying. Construction of the plant, which is being developed by a joint venture between PT Adaro Energy Indonesia, PT Kayan Patria Pratama Group, and Malaysia’s Sarawak Energy Corp, is expected to wrap in seven years, Widodo added.

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