World news |
Wave project off the coast of County Clare, Ireland, is being developed by the state-owned energy supplier ESB. This pre-commercial phase will deploy CorPower Ocean WECs as part of a CorPack cluster and has secured €39.4 million in EU Innovation Fund co-funding.
Austria
EIB supports Ebensee expansion The European Investment Bank (EIB) is providing a €320 million loan for the construction of the Ebensee pumped storage power plant in Upper Austria. Energie AG plans to invest over €600 million in hydropower expansion, supported by a €400 million financing package approved by the EIB. The Ebensee facility will function as a “green
battery,” balancing fluctuations in wind and solar power generation while ensuring a stable energy supply. Financing agreements for the project were signed at EIB headquarters in Luxembourg. This investment is the largest in Energie AG
Oberösterreich’s history and marks a significant step in Upper Austria’s energy transition. An additional €80 million in EIB financing has been preliminarily approved for the Traunfall run-of- river hydropower plant, which will replace three aging plants. Final financing contracts for the Traunfall project are expected in 2025, pending Supervisory Board approval. “Rapidly expanding renewable energy is crucial for decarbonising the economy. The hydropower plants by Energie AG Oberösterreich are another important step on the road to a climate-neutral energy supply, and will help reduce Europe’s dependence on oil and gas imports,” said EIB Vice-President Thomas Östros. “Our strategy at Energie AG Oberösterreich has set a course for maximum carbon reduction throughout the entire company. All told, we will be investing €4 billion by 2035 to expand renewable energy and grids. We are also making major investments in green hydrogen production,” said Leonhard Schitter, Chair and CEO of Energie AG Oberösterreich. “In the coming decades, the energy
sector... will be influenced by high investment requirements for the process of transformation needed to develop a sustainable energy system. A key success factor in this process will be providing for future financing requirements early, with optimal borrowing and framework conditions. With the EIB, we are delighted to have a strong partner on board for this challenge,” said Andreas Kolar, CFO of Energie AG Oberösterreich. The project aligns with REPowerEU, the
European Union’s plan to reduce fossil fuel dependence. Under this initiative, the EIB can finance a larger share of project costs than the usual 30-50%. It also supports Austria’s National Energy and Climate Plan, which aims to transition all electricity generation to renewable sources by 2030.
6 | May 2025 |
www.waterpowermagazine.com South Africa
Serengeti Energy’s Boston project on track for 2025 completion Serengeti Energy’s 5MW Boston Hydro project in South Africa remains on schedule for completion in the third quarter of 2025. The project, the company’s fourth hydropower plant in the country, secured financing from Investec in December 2024, reinforcing its commercial viability.
Construction has benefited from a six- month shutdown of the Lesotho Highland Water Scheme, allowing in-river work to be completed in dry conditions before water flows resume in April 2025. The weir has reached crest level, and tailrace construction is nearing completion following the installation of an 8-ton maintenance gate. Key infrastructure components, including the
intake radial gate, emergency gate, and active spillway gates, have been installed. Stage one of hydro-turbine installation is set to begin, with a 45-ton turbine being lowered into position using a 400-ton crane. Once aligned and cast in place, the turbine is expected to operate for over 60 years. The next phase involves installing the generator, transformers, and control equipment in preparation for wet commissioning. Serengeti Energy’s in-house engineering, procurement, construction, and management (EPCM) team will oversee the coordination of contractors, suppliers, and consultants to ensure smooth integration of all components. Boston Hydro is Serengeti Energy’s latest
hydropower project and will serve as its flagship facility. The company has applied lessons from previous projects to improve plant availability, reduce maintenance needs, and minimize long- term performance risks.
Brazil
ENGIE acquires two hydro plants ENGIE Brasil Energia has signed an agreement to acquire two hydropower plants, adding 612MW to its energy portfolio. The Santo Antônio do Jari hydropower pPlant, located in Amapá and Pará, and the Cachoeira Caldeirão hydropower plant, in Amapá, were purchased for approximately R$2.9 billion, which includes R$2.3 billion in equity and R$671 million in net debt. Both plants operate under long-term contracts in the regulated energy market. “The acquisition of these two assets is fully aligned with our strategic focus on strengthening our position in the electricity sector, increasing the weight of hydropower plants in our generator park and extending the average term of concessions with fully contracted long-term capacity in the regulated market environment,” said ENGIE Brasil Energia’s CEO, Eduardo Sattamini. With this acquisition, ENGIE’s generation portfolio now includes 115 plants with a total installed capacity of 11.3GW. This includes 11 hydroelectric plants, with the remainder
consisting of biomass, small hydroelectric plants (SHPs), wind, and solar energy sources. “The business will create shareholder value by allowing the Company to allocate capital to assets that are already operational and have secured long-term revenue flows, with a good balance between risks and returns, and where we will also be able to apply all our recognized expertise in operating hydropower plants,” added Chief Financial and Investor Relations Officer, Eduardo Takamori. The Santo Antônio do Jari Hydropower Plant is
located on the Jari River between Laranjal do Jari (Amapá) and Almeirim (Pará). It has an installed capacity of 393MW and a commercial capacity of 211MW average. The plant began operations in 2014, with a concession lasting until October 2045. Its energy output is fully contracted under two agreements: 190MW average from the 11th New Energy Auction in 2010 at R$230.42/MWh (adjusted to October 2024 prices) and 20.9 MW average from the 15th New Energy Auction in 2012 at R$161.43/MWh. The Cachoeira Caldeirão Hydropower Plant is
located on the Araguari River in Ferreira Gomes (Amapá). It has an installed capacity of 219MW and a commercial capacity of 123MW average. Operations began in 2016, with a concession running until August 2048. The plant’s 130MW average output was contracted at the 15th New Energy Auction in 2012 at R$187.63/MWh (baseline October 2024).
Nepal
First concreting completed for Tanahu main dam The first block of concrete for the main dam of the Tanahu hydropowerproject was poured on March 20, 2025, at 4:00 p.m. (Nepali time). The concreting, carried out at block 6 at an elevation of 283m, marks a significant milestone in the project’s construction. The initial concrete block stands 1m high and has a total volume of 300m3. Representatives
from Tanahu Hydropower Limited (THL), project consultants Tractebel Engineering GmbH, and the Song Da-Kalika General Contractor Joint Venture supervised the process. Engineers from Power Engineering Consulting Joint Stock Company 1 (PECC1), the project’s design consultant, were present to ensure quality and adherence to construction standards. PECC1 engineers are stationed on-site, working closely with the project owner, supervision consultants, and contractors to maintain construction progress and quality. The company aims to support the timely completion of the project, which is expected to provide a stable and sustainable power supply for Nepal. The Tanahu hydropower project is a key infrastructure initiative with an installed capacity of 140MW. It is designed to address Nepal’s peak electricity demand during dry winter months while operating as a load plant during other seasons. By offering a renewable energy alternative to fossil fuel-based power
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