DOE announces goal to cut costs of long-duration energy storage by 90%

U.S. Secretary of Energy Jennifer M. Granholm today announced the U.S. Department of Energy’s (DOE) goal to reduce the cost of grid-scale, long-duration energy storage (of which pumped storage hydro is the largest source) by 90% within the decade. The second target within DOE’s Energy Earthshot Initiative, “Long Duration Storage Shot” sets goals to accelerate […]

Parkwind secures funding for 257-MW Arcadis Ost 1 floating wind farm

Belgium-based Parkwind has secured funding from multiple financial institutions to implement its first renewable energy project outside the country. The company will use a €150 million (US$177.8 million) loan from the European Investment Bank (EIB) to construct its $675.9 million Arcadis Ost 1 wind farm. Other financial institutions supporting the German wind farm include KBC, […]

NHPC signs MOU for implementation of 130.1-MW Dagmara hydroelectric project

NHPC Limited and Bihar State Power Holding Company (BSHPC) have signed a memorandum of understanding (MOU) for implementation of the 130.1-MW Dagmara hydroelectric project in the Supaul district, Bihar State, India. The MOU was signed and exchanged by the signatories in the august presence of Shri R.K. Singh, Hon’ble Minister of State (Independent Charge) Power […]