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Auckland-based venture capital firm Pacific Channel has launched a new US$36m (NZD40m) fund, Fund V, aimed at providing seed capital to advance the development of seven large-scale renewable energy generation and storage projects to shovel-ready status, with an additional 18 projects in the pipeline, as part of a broader pipeline exceeding 10 GW of capacity across the country.
Pacific Channel said Fund V will support the development of a national portfolio of wind, solar, and storage projects led by renewable energy developer Kākāriki, a joint venture formed by operators including Australia’s Energy Estate, UK-based Regener8 Power, and New Zealand companies Elemental Group and Tāmata Hauhā. The initial phase of the Kākāriki portfolio includes 4 GW of solar and wind generation and 2.3 GW of battery energy storage capacity, with land access, planning, and grid connection activities already underway.
New Zealand targets a 90% share of renewables in its electricity mix by 2025 and a 50% share in final energy consumption by 2035, aiming for carbon neutrality by 2050. Renewables accounted for 86% of the country’s power mix in 2023.
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Us Grid Interconnection Agreements Hit Record 75 Gw In 2024 Amid Federal ReformsThe United States recorded its highest-ever volume of grid interconnection agreements in 2024, with capacity surging 33% year-on-year to 75 gigawatts (GW), according to a new report by Wood Mackenzie. The milestone follows the introduction of Federal Energy Regulatory Commission (FERC) Order No. 2023 and other regional reforms designed to accelerate the processing of interconnection requests.
The report, Tracking the Progress of US Grid Interconnection, highlights that the reforms have begun to ease longstanding bottlenecks by reducing speculative projects and clearing queue backlogs. “We saw a record year in 2024, with 75 GW of secured capacity. 2025 is maintaining this momentum, as major grid operators have already secured 36 GW through July 2025, positioning the year to match 2024’s record,” said Kaitlin Fung, research analyst for North America Utility-Scale Solar at Wood Mackenzie.
Alongside the surge in agreements, the industry saw 9% fewer new project entries and a 51% increase in withdrawals of non-viable projects since 2022, signaling a more efficient and realistic interconnection pipeline.
Solar and Storage Dominate AgreementsSolar and storage projects accounted for 75% of all interconnection agreements in 2024, securing 58 GW. Solar alone has made up half of all signed interconnection agreements since 2019—a trend that continues this year.
Natural gas has also seen renewed activity, with 121 GW of interconnection requests submitted since 2022. Applications in 2025 have already surpassed annual records, but successful agreements have dropped 25% since 2022, particularly in PJM, MISO, and ERCOT.
Regional Disparities PersistThe report notes that performance varies widely across grid operators. ERCOT leads in both success rates and processing speed, thanks to its “connect-and-manage” approach. ISO New England (ISONE) follows in success rates but suffers the longest processing times due to its delayed shift to cluster-based reviews. Meanwhile, CAISO ranks third but has one of the lowest success rates, largely due to a flood of speculative projects.
“While we’re seeing positive momentum, significant challenges remain,” Fung added. “Natural gas projects are entering queues at record levels but securing fewer agreements, and regional disparities in processing highlight the ongoing need for reform.”
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01 September 20252 min readUs Grid Interconnection Agreements Hit Record 75 Gw In 2024 Amid Federal Reforms
Solar Quarter
01 September 2025
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Australia Floats Tenders For 1.6 Gw Renewable ProjectsThe Australian government has launched two new tenders under the Capacity Investment Scheme (CIS) to support renewable energy and firming projects in Western Australia. The tenders are expected to attract about $4 billion in private investment for the wholesale electricity market covering the state’s south-west region, including Perth. The tenders will add 1.6 GW of renewable generation along with 2.4 GWh of dispatchable storage. This will supply power to over 900,000 households annually and meet the peak demand of 550,000 households for four hours.
The tenders will contribute to Western Australia’s CIS allocation target of at least 2.3 GW of renewable generation and 4.4 GWh of dispatchable capacity. The bidders have ten weeks to submit bids under a streamlined process, with assessments based on deliverability, cost-effectiveness, grid reliability, engagement with First Nations communities, and binding commitments to deliver shared benefits. The deadline for bid submission is November 7, 2025.
Furthermore, the tenders are part of Australia’s broader plan to achieve 82 per cent renewables by 2030, with 40 GW of new renewable capacity supported by storage, transmission, and gas. Previous CIS rounds have finalised 19 agreements amounting to a capacity of 5.85 GW nationwide, with announced projects committing about $15 billion towards local employment, expenditure, and community and First Nations benefits.
Reglobal Org
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01 September 20252 min readAustralia Floats Tenders For 1.6 Gw Renewable Projects
Reglobal Org
01 September 2025
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South African Regulator Registers Almost 2 Gw Of Projects From April To JuneThe National Energy Regulator of South Africa (NESRA) registered 111 generation facilities with a total capacity of 1,916 MW between April and June this year, the first quarter of South Africa’s latest financial year.
NESRA says the new facilities, which have an estimated investment value of ZAR 51.91 billion ($2.95 billion), were processed within an average turnaround time of 11 working days. During the first quarter of the prior financial year, which registered 104 projects, the average process time was 15 days.
The regulator’s latest update adds that solar projects emerged as the predominant technology chosen, “underscoring South Africa’s abundant sunlight resources, which are ideal for both small-scale and large-scale energy generation”.
Gauteng, Western Cape and KwaZulu-Natal were the three provinces with the largest number of registered facilities, with 31, 21 and 14. The Western Cape had the largest capacity of new projects, reaching 740.63 MW, followed by the Northern Cape (506.55 MW) and Free State (301.53 MW).
Since the inception of NESRA’s registration regime in 2018, the regulator has registered 2,056 generation facilities with a total capacity reaching 12,757 MW and a total investment cost of ZAR 293 billion.
In July, the South African government approved an additional six solar projects totalling 1,290 MW of new capacity under the country’s seventh renewables procurement round.
South Africa deployed 1.1 GW of solar in 2024, following a record year for solar additions in 2023. It is now working towards deploying at least 3 GW of new renewables annually, increasing to 5 GW by 2030.
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01 September 20252 min readSouth African Regulator Registers Almost 2 Gw Of Projects From April To June
PV Magazine
01 September 2025
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Siemens Gamesa Inks Agreement For 1.5 Gw Offshore Wind ProjectLuxcara has signed a capacity reservation agreement with Siemens Gamesa for the Waterekke offshore wind project in the German North Sea. The 1.5 GW offshore wind project will deploy 97 turbines of 15.5 MW each, to be supplied by Siemens Gamesa. The project is reportedly scheduled for commissioning by 2029.
In June 2025, Luxcara acquired a 520 MW battery energy storage project in Waltrop, North Rhine-Westphalia, Germany, on an unused site that was formerly designated to develop a coal-fired power plant.
Luxcara, founded in 2009, is a German independent asset manager focused on clean energy infrastructure. The company has a portfolio of around 6 GW of renewable projects spread over 12 countries, with an investment volume of more than €7.5 billion.
Renewable Watch
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29 August 20251 min readSiemens Gamesa Inks Agreement For 1.5 Gw Offshore Wind Project
Renewable Watch
29 August 2025
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Venture Capital Fund In New Zealand Aims To Develop Over 10 Gw Of RenewablesAuckland-based venture capital firm Pacific Channel has launched a new US$36m (NZD40m) fund, Fund V, aimed at providing seed capital to advance the development of seven large-scale renewable energy generation and storage projects to shovel-ready status, with an additional 18 projects in the pipeline, as part of a broader pipeline exceeding 10 GW of capacity across the country.
Pacific Channel said Fund V will support the development of a national portfolio of wind, solar, and storage projects led by renewable energy developer Kākāriki, a joint venture formed by operators including Australia’s Energy Estate, UK-based Regener8 Power, and New Zealand companies Elemental Group and Tāmata Hauhā. The initial phase of the Kākāriki portfolio includes 4 GW of solar and wind generation and 2.3 GW of battery energy storage capacity, with land access, planning, and grid connection activities already underway.
New Zealand targets a 90% share of renewables in its electricity mix by 2025 and a 50% share in final energy consumption by 2035, aiming for carbon neutrality by 2050. Renewables accounted for 86% of the country’s power mix in 2023.
ENER Data
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29 August 20251 min readVenture Capital Fund In New Zealand Aims To Develop Over 10 Gw Of Renewables
ENER Data
29 August 2025
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The Us Seeks To End Approval For 2 Gw Maryland Offshore Wind ProjectThe U S administration intends to withdraw federal approval for US Wind’s 2 GW offshore wind project off the coast of Maryland, according to a filing submitted to the U.S. District Court in Delaware. In the filing, Department of Justice attorneys asked the court to pause a lawsuit challenging the Interior Department's prior approval of the project. They stated that the agency plans to vacate its approval of the construction and operations plan by September 12.
US Wind is jointly owned by funds managed by Apollo Global Management, a U.S. investment firm, and Renexia SpA, a subsidiary of Italy’s Toto Holding SpA. Construction was originally slated to begin in 2026, following federal approval granted in September 2024 by the Biden administration.
Earlier in August 2025, the U.S. Department of the Interior also ordered Ørsted to suspend all work on its 704 MW Revolution Wind project off the coast of Rhode Island, which is currently 80% complete. The project remains on hold pending a regulatory review by the Bureau of Ocean Energy Management (BOEM).
ENER Data
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29 August 20251 min readThe Us Seeks To End Approval For 2 Gw Maryland Offshore Wind Project
ENER Data
29 August 2025
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Boviet Solar Marks Progress On 3.0 Gw Pv Cell Factory With Exterior Work Finished In Greenville, North CarolinaBoviet Solar Technology Co. Ltd., a leading solar energy technology company specializing in monocrystalline PV cells and its premium Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules, has announced the successful completion of exterior construction on its new 3.0-GW PV cell manufacturing facility in Greenville, Pitt County, North Carolina. The milestone, which includes the completion of exterior walls and roofing, marks significant progress in Boviet Solar’s U.S. manufacturing expansion and commitment to strengthening domestic solar production.
Construction of the Greenville facility began in January 2025, and the exterior build-out has now been completed on schedule. This factory represents Phase II of Boviet Solar’s North American manufacturing strategy and is designed to produce high-efficiency N-Type PV cells. Once operational, the facility will have an annual production capacity of 3.0-GW, an increase from the previously announced 2.0-GW capacity. It will complement the adjacent 2.0-GW PV module factory, which started mass production in Q1 2025.
Marco Marquez, General Manager of Boviet Solar’s Greenville factory, stated, “Completing the exterior walls and roof of our PV Cell factory is an important milestone that keeps us firmly on track toward our operational goals. With Phase I already producing U.S.-made PV modules and Phase II moving forward as planned, we are building not just factories, but long-term opportunities for the local community, our employees, and the clean energy future of the United States.”
Sienna Cen, President of Boviet Solar USA, mentioned, “The Greenville manufacturing hub is central to Boviet Solar’s U.S. growth strategy. By investing in both PV cell and module production in North Carolina, we are strengthening supply chain resilience, delivering reliable Made-in-USA solar products, and creating lasting economic impact for the region. This milestone reflects the hard work and dedication of our teams and partners, and we are excited about the progress ahead.”
The Greenville PV module factory, part of Phase I, began production in April 2025 and manufactures Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules. With the addition of the new cell plant, Boviet Solar will create a fully integrated U.S. manufacturing hub, capable of producing both PV cells and modules domestically. This development is expected to strengthen the U.S. solar supply chain while delivering high-performance, Made-in-USA products to customers.
The PV cell facility is scheduled for completion and mass production in the second half of 2026. It will create more than 900 skilled local jobs and provide a reliable supply of advanced PV cells for both U.S. and international markets. With this milestone, Boviet Solar reinforces its position as a trusted long-term partner in the global solar industry, supporting domestic manufacturing growth and contributing to the clean energy transition.
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28 August 20253 min readBoviet Solar Marks Progress On 3.0 Gw Pv Cell Factory With Exterior Work Finished In Greenville, North Carolina
Solar Quarter
28 August 2025
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Middle East And Sub-Saharan Africa Target 62 Gw Solar Manufacturing By 2030 – ReportThe solar industry in the Middle East and Sub-Saharan Africa is showing strong potential to emerge as a global supply chain hub, and recent developments suggest that the region could become a key replacement for Southeast Asia in solar manufacturing. According to Sinovoltaics’ latest report, the focus is on building full vertical integration by setting up manufacturing capacities across modules, cells, wafers, ingots, and polysilicon. This is being driven by both government support and local content requirements, as countries in the region seek to reduce dependence on foreign suppliers while creating jobs and strengthening their clean energy transition. The region’s geographic proximity to Europe and Sub-Saharan Africa provides it with an additional advantage by making it possible to serve both local and neighboring markets.
The report points out that many economies, including those in the Middle East and Africa, have learned lessons from challenges faced in Europe, India, and North America, which do not yet have sufficient polysilicon, wafer, or cell manufacturing capacity. By building capabilities now, these regions are setting themselves up as potential exporters of solar modules and related materials. For example, depending on tariff structures in the United States, the Middle East and Africa could even become a viable export partner if U.S. tariffs remain favorable. However, challenges remain, particularly in the form of grid infrastructure limitations and possible supply chain disruptions. Despite this, the overall ambition is significant, with projections indicating that by 2030 the region could achieve 62.12 GW of solar module manufacturing, 52.55 GW of cell production, 45 GW of polysilicon capacity, and 290,000 tons of metallurgical-grade silicon.
The growth of solar manufacturing capacity in the region is largely backed by Chinese investments and technology, which continues to play a central role in global solar supply chains. While much of the ownership and financing may be international, the benefits for local economies are clear. The creation of large-scale manufacturing hubs will generate employment opportunities and stimulate related industries. In addition, the long-term environmental benefit of reducing reliance on fossil fuels aligns with both global sustainability goals and the urgent need for cleaner energy transitions across these regions.
The report also highlights that the solar supply chain maps produced by Sinovoltaics are updated regularly to capture new factories, expansions, and investments across the regions. These maps provide stakeholders with an updated view of the manufacturing ecosystem and help track the rapid progress being made. The insights are aimed at helping procurement teams, investors, and project developers understand where future supplies will come from and how to structure their strategies in line with emerging trends.
In conclusion, the Middle East and Sub-Saharan Africa are positioning themselves as serious contenders in the solar manufacturing sector. The planned capacity by 2030 reflects an ambitious roadmap, and while challenges exist, the direction is clear: these regions are moving toward becoming global players in solar supply. By focusing on integration across the entire value chain and capitalizing on geographic and strategic advantages, they are setting the foundation for a sustainable and resilient energy future. This will not only support local demand but also enhance their standing in the global clean energy market.
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28 August 20253 min readMiddle East And Sub-Saharan Africa Target 62 Gw Solar Manufacturing By 2030 – Report
Solar Quarter
28 August 2025
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Mitsubishi Withdraws From 1.8 Gw Of Japanese Offshore Wind ProjectsJapan's Mitsubishi Corporation has announced its withdrawal from three Japanese offshore wind power projects, citing significant changes in the global business environment, including tighter supply chains, rising inflation, and volatile interest rates. A Mitsubishi-led consortium won the first state auctions for these three wind parks, located in Chiba and Akita prefectures, in 2021. The projects had a combined projected capacity of 1.8 GW and were expected to start operations between 2028 and 2030.
The Japanese Ministry of Economy, Trade and Industry (METI) has not yet responded to requests for comment on whether the vacated sites will be re-auctioned. Meanwhile, Japan’s Industry and Land ministries have proposed extending offshore wind project leases from 30 to 40 years to help developers better manage rising construction costs and complete their projects. This proposal was submitted to a joint expert panel of METI and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT).
Denmark’s Ørsted exited the Japanese market in 2024 as part of a global restructuring, while the UK’s Shell has recently reduced its offshore wind team in Japan amid a broader scale-back of its low-carbon operations.
Japan aims to expand its offshore wind capacity to 10 GW by 2030 and 45 GW by 2040, up from just 0.3 GW at the end of 2024.
ENER Data
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28 August 20252 min readMitsubishi Withdraws From 1.8 Gw Of Japanese Offshore Wind Projects
ENER Data
28 August 2025
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Planning Application Filed For 1 Gw Ayre Offshore Wind Project (Scotland)Thistle Wind Partners (TWP) has submitted a planning application to Scotland’s Highland Council for the onshore infrastructure required for its 1 GW Ayre floating wind park, located off the coasts of Caithness and Orkney (Scotland). TWP — a consortium comprising France’s Qair and Belgium-based DEME and Aspiravi — had already submitted the offshore scoping report to Scotland’s Marine Directorate in July 2024. In addition to Ayre, the consortium is also developing the 1 GW Bowdun fixed-bottom wind park, located off the coast of Aberdeenshire (Scotland).
The onshore planning submission follows an extensive site selection process that took into account environmental constraints, public consultations, and engagement with local communities and stakeholders in Caithness (Scotland). The Ayre project secured a seabed lease through the ScotWind leasing round in 2022. The Highland Council’s public consultation on the onshore plans will run from 29 August to 28 September. The Ayre project is expected to be operational by 2033, following an estimated three-year construction phase.
In parallel, in June 2025, the Scottish Government launched a public consultation to raise the country’s offshore wind target to 40 GW by 2040, up from the current target of 8–11 GW by 2030. It projects a potential capacity of 40 GW by 2035, reaffirming its commitment to achieving net-zero emissions by 2045.
ENER Data
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28 August 20252 min readPlanning Application Filed For 1 Gw Ayre Offshore Wind Project (Scotland)
ENER Data
28 August 2025
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3.5 Gw Of Offshore Wind In New England Could Offset Natural Gas Price Spikes: ReportThe report examines the “potential regional market and Massachusetts ratepayer impacts” if 3.5 GW of offshore wind had been generating power between Dec. 2024 and Feb. 2025.
“Even using the most conservative assumptions about cleared offers in Forward Capacity Auction 15 … clearing additional qualified capacity from OSW would have reduced FCA15 costs by at least $128 million, with 83% ($106 million) allocable to Massachusetts load zones,” the report said.
Daymark Energy Advisors found that “injecting near-zero marginal cost offshore wind into the energy market would have reduced ISO-NE Locational Marginal Prices by 11% ($12.60/MWh), reducing wholesale load costs across New England by roughly $400 million. Roughly $129 million of the regional savings would have been allocable to [Massachusetts electric distribution companies].”
Last winter was the “first since 2014 to see below-normal temperatures over the course of an entire season,” ISO-NE said in an April release, and natural gas prices rose in accordance with demand.
President Donald Trump and New England leaders like Connecticut Gov. Ned Lamont, D, and New Hampshire Gov. Kelly Ayotte, R, have suggested the region build a new natural gas pipeline to curb the high cost of energy.
“They have no way of getting [the natural gas] there because it’s been held up by New York,” Trump said in March.
Ayotte has shown reticence about offshore wind development, and signed a bill earlier this month that eliminated language requiring the state’s Office of Energy Innovation to support offshore wind development. Lamont has also shown hesitance about offshore wind, with Connecticut opting not to procure any new offshore wind projects during a 2024 joint solicitation between Massachusetts, Rhode Island and Connecticut.
However, Lamont told CNBC on Tuesday that the Trump administration’s decision to halt work on the 700-MW Revolution Wind project under construction offshore Rhode Island and Connecticut was “sudden, erratic and insane” and said he will try to strike a deal with the administration to keep the project going.
Interior Secretary Doug Burgum said in May that New York Governor Kathy Hochul had indicated “her willingness to move forward on critical pipeline capacity” for natural gas, after Hochul negotiated with the Trump administration to lift a stop work order on the 810-MW Empire Wind 1 project offshore New York.
Daymark’s report noted that the deployment of emission-free offshore wind “would have offset natural gas, oil and coal-fired generation, reducing fossil fuel burned by 34 million MMBtu over the 3-month period.”
This would result in greenhouse gas emissions savings of 1.8 million tons, “equivalent to removing almost 400,000 passenger cars from the road for a year,” the report said.
Utiltiy Dive Generation
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28 August 20253 min read3.5 Gw Of Offshore Wind In New England Could Offset Natural Gas Price Spikes: Report
Utiltiy Dive Generation
28 August 2025
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Boviet Solar Completes Exterior Construction Of 3.0-Gw Pv Cell Factory In North CarolinaConstruction of the facility began in January 2025, and the exterior build-out has now been finished on schedule. The new factory represents Phase II of Boviet Solar’s North American manufacturing strategy and will focus on producing high-efficiency N-Type PV cells to support the growing demand for locally manufactured solar products.
Once fully operational, the Greenville PV cell facility will deliver an annual production capacity of 3.0-GW of solar cells—more than the 2.0-GW capacity announced earlier this year—complementing Boviet Solar’s adjacent 2.0-GW PV module factory, which successfully commenced mass production in Q1 2025.
The Greenville PV module factory (Phase I) produces top-performing Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules and began factory production in April 2025. Together, these two facilities will create a fully integrated U.S. manufacturing hub, capable of producing both PV cells and modules domestically, strengthening America’s solar supply chain while providing customers with top-performing, Made-in-USA solar products.
“Completing the exterior walls and roof of our PV Cell factory is an important milestone that keeps us firmly on track toward our operational goals,” said Marco Marguez, General Manager of Boviet Solar’s Greenville factory.
“With Phase I already producing U.S.-made PV modules and Phase II moving forward as planned, we are building not just factories, but long-term opportunities for the local community, our employees, and the clean energy future of the United States.”
“The Greenville manufacturing hub is central to Boviet Solar’s U.S. growth strategy,” added Sienna Cen, President of Boviet Solar USA. “By investing in both PV cell and module production in North Carolina, we are strengthening supply chain resilience, delivering reliable Made-in-USA solar products, and creating lasting economic impact for the region. This milestone reflects the hard work and dedication of our teams and partners, and we are excited about the progress ahead.”
The PV cell facility is expected to be completed and begin mass production in the second half of 2026, creating more than 900 skilled local jobs and providing a reliable supply of high-performance PV cells for both U.S. and global markets.
With this milestone, Boviet Solar reaffirms its role as a reliable, trusted, and long-term partner in the global solar industry, dedicated to delivering top-performing products, supporting domestic manufacturing, and driving the clean energy transition.
Renewable Energy Magazine
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28 August 20252 min readBoviet Solar Completes Exterior Construction Of 3.0-Gw Pv Cell Factory In North Carolina
Renewable Energy Magazine
28 August 2025
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