Latest news with #ContourGlobal
Time of India
2 days ago
- Business
- Time of India
KKR-backed ContourGlobal acquires energy storage projects in Italy
Milan: ContourGlobal has acquired battery energy storage systems in Italy with a combined power capacity of around 1.6 gigawatt and storage durations of up to eight hours, the energy company owned by U.S. investment firm KKR said on Thursday. Why It's Important The battery projects, once fully developed, will position ContourGlobal for the first Italian auction, scheduled for September, in which the country will buy storage capacity to enhance use of renewable energy. Context Europe's battery storage capacity is expected to grow around five-fold by 2030, bringing with it increasing returns for energy majors, project developers and traders, as the cost of new projects falls.
Reuters
2 days ago
- Business
- Reuters
KKR-backed ContourGlobal acquires energy storage projects in Italy
MILAN, July 3 (Reuters) - ContourGlobal has acquired battery energy storage systems in Italy with a combined power capacity of around 1.6 gigawatt and storage durations of up to eight hours, the energy company owned by U.S. investment firm KKR (KKR.N), opens new tab said on Thursday. The battery projects, once fully developed, will position ContourGlobal for the first Italian auction, scheduled for September, in which the country will buy storage capacity to enhance use of renewable energy. Europe's battery storage capacity is expected to grow around five-fold by 2030, bringing with it increasing returns for energy majors, project developers and traders, as the cost of new projects falls.
The Guardian
19-03-2025
- General
- The Guardian
Troubled waters: life on the edge of Africa's Lake Kivu
One of the African great lakes, Kivu contains 300 km³ (2.6 gigatonnes) of CO2 and about 60 km³ of dissolved methane, which represents nearly 5% of global greenhouse gas emissions. A 'limnic eruption' could release these suffocating gases and kill many of the two million people living along its shores John, who has a crew of nine, leads three boats out on to the lake to fish every evening at dusk. The lake is 2,700 km2 'Ten years ago, we used to catch 300 kilos [of fish] a night; today, it's barely half that. I've heard about methane and know the dangers, but what worries me most is the disappearance of sambaza,' says John, left, with his daughter and one of his employees. Photograph: Paloma Laudet/Item The sambaza is a species of small sardine-like fish endemic to Lake Kivu. Often dried or smoked, it is an important food source for the communities living along the lake's shores. Amid the growing pressures of the climate crisis and pollution, the Rwandan government introduced 'biological breaks' in 2020 to allow the recovery of fish stocks in Lake Kivu To motivate himself before heading out to fish, Froduard sings: 'It's dark, so do your job and we'll catch plenty of fish. No worries today, we'll make a great catch. Keep at it, because you need money and a beautiful wife. Don't worry, life is too short. Do your job and enjoy your money' Dieumerci, right, a fisher on Gahiga Island, repairs his nets. Lake Kivu has about 25 islands Alphonse, a fisher who lives on one of the islands, washes himself in the lake A group of young Rwandans jump into Lake Kivu from 'the Peace Island'. They were all born after the genocide in 1994 in which more than half a million people were killed in a planned, state-sponsored attack on the country's Tutsi minority The hot springs of Nyamyumba, in the Rubavu district of Rwanda, are known for their thermal and mineral properties. Lake Kivu is in a particularly active seismic zone, and is dominated by Mount Nyiragongo, one of the most active volcanoes in Africa In 2015, Rwanda initiated a project to extract methane gas from Lake Kivu to convert it into energy. Two companies, KivuWatt and Shema Power, pictured, are involved in transforming methane into energy to provide electricity to the region The KivuWatt platform, owned by the US company ContourGlobal, extracts and converts methane from Lake Kivu into a renewable energy source: 30% of Rwanda's energy comes from the lake A park bordering the lake at twilight in Gisenyi, Rwanda's second-largest city Although the lake helps provide energy to nearby schools and towns, many of the villagers don't have electricity in their homes. Thérèse has no electricity in her small house on the main road connecting Kibuye and Rusizi, although the area has street lights. 'In the evening at home, I use my phone for light, which I then recharge at a neighbour's house,' she says Workers load a boat with bags of sand taken from a river in Gishyita 'I would like to understand where the fish have gone,' says Claude, a sambaza fisher on Lake Kivu in Mugonero, Rwanda. Claude earns about 500 Rwandan francs a day (about 30p), just enough to maintain his poorly kept boat and meet his needs. Like 52% of Rwandans, he lives below the poverty line (less than one dollar a day) During the day, the sambaza stay in the deep waters, but at night they are attracted by the moonlight and come to the surface. On moonless nights, 'we trick them, and those are our best days', say Froduard and Emmy Alphonse, a fisher, with his wife and daughter Adrien was a fisher on the island of Nkombo for three years. 'I had to stop because being a fisherman is very hard, there are no fish left. I prefer to grind manioc now' Young Rwandans swim near a pier in Gisenyi. In the distance is the city of Goma in the DRC A high-tension power line on a hill overlooking Lake Kivu in the Karongi district, Rwanda A traditional house on the shores of Lake Kivu in Rwanda, with an electricity pylon looming over it
Yahoo
27-01-2025
- Business
- Yahoo
ContourGlobal acquires 446MWp solar PV portfolio in US
British power generation company ContourGlobal has acquired a 446MWp solar photovoltaic (PV) portfolio in the US, expanding its renewable energy footprint. The portfolio, acquired from Qcells, includes two solar PV plants in Colorado and Virginia, boosting ContourGlobal's planned US solar PV and BESS capacity to nearly 1.5GW. This adds to over 1GW of recently acquired projects in South Carolina and Arizona, currently in late development. The Colorado assets, totalling 324MWp, are already under construction, while the Virginia project, with a capacity of 122MWp, is slated to begin construction in 2026. This acquisition extends ContourGlobal's renewable operations within the Western Electricity Coordinating Council (WECC) and Pennsylvania-New Jersey–Maryland (PJM) interconnection markets. This expansion offers regional diversification and tapping into areas with increasing demand for electricity, alongside thermal capacity retirements and carbon emission reduction targets. The Colorado projects will supply electricity to Platte River Power Authority under a long-term power purchase agreement (PPA). The first phase, a 185MWp plant, is expected to commence operations in the first half of 2025, with a 22-year PPA in place. The second phase will add 139MWp of capacity by 2026. The Virginia project, expected to start operations in 2027, will benefit from a 20-year PPA with an investment-grade investor-owned utility. These plants are projected to produce over 845GWh annually, enough to power approximately 80,000 American households each year. ContourGlobal CEO Antonio Cammisecra said: 'This transaction allows us to maintain momentum in our U.S. renewable growth, nearing 1.2GW of solar PV capacity complemented with additional 0.3 GW of BESS capacity, in construction or late development. 'It also meaningfully accelerates the start of our commercial operations to the first half of this year. We are proud of this milestone and delighted that our partnership with Qcells will also enable us to integrate their US-produced solar technology into these acquired projects.' Qcells will oversee the construction of the projects, which will utilise solar panels manufactured at their facilities in Georgia. Qcells has one of the largest solar panel production capacities in the western hemisphere, which is expected to increase to 8.4GW, the company says. CRC-IB served as the exclusive buy-side advisor to ContourGlobal, while Marathon Capital was the exclusive financial advisor to Qcells for this deal. Qcells GES president IP Kimsaid: 'We are proud to support ContourGlobal's US expansion. This transaction showcases Qcells' differentiated capabilities as a 'total energy solutions provider' to bring projects from development into operations. We are excited to explore other opportunities where Qcells' full suite of capabilities can deliver value to partners like ContourGlobal.' "ContourGlobal acquires 446MWp solar PV portfolio in US" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
