Invenergy enters the Spanish offshore wind market with a planned 552 MW floating wind farm. Iberdrola considers selling US renewable assets to fund its Avangrid acquisition. Tata Power secures a major loan to finance clean energy projects in India, while National Grid divests US assets to focus on UK decarbonization.

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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum, and this is your NewsFlash. NewsFlash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at intelstor.com.

Invenergy has announced its entry into the spanish offshore wind market with the proposed oh boy floating wind farm the planned capacity 552 megawatt site Is will be the furthest site away from the shoreline of spain if approved it will power over 600 thousand Spanish households. Wow, Phil the construction of the offshore floating wind farm is estimated to take between eight and ten years with Invenergy prioritizing local hiring and procurement through the project's development.

So this is a really neat project by Invenergy, Phil.

Philip Totaro: Yeah, it's interesting too, because the Spanish are trying to get an offshore market going. There's, something like 40 plus gigawatts of projects that have been kind of tentatively proposed for different tenders that they're supposed to have in Spain, but they haven't actually gotten a framework in place for how any kind of You know, subsidies are going to work.

And I think power offtake may also still be a bit of a challenge there as far as the infrastructure needed to be able to support this much capacity. But the fact that, I mean, this is, and we've talked before about the fact that Invenergy is not exactly a U. S. company. They're, it's Canadian majority owned company as far as their, their parent investor, but let's say they're, the first occasion where I can recall a North American based company anyway, is venturing off into the European offshore wind market.

So this is pretty interesting and, and an exciting play for them.

Joel Saxum: One of the nice things here is that, that northwest corner of Spain. Good deep water port as well. So, the area's gonna be primed and ready for it. There's some demand locally there. They're ready and willing to go here. 552 megawatts for a floating offshore wind farm. That's again, I think last week we talked about the largest one we've heard of. This is now the largest one I've heard of. And the facilities are there, ready to go. Keyside to put these things out.

So, 8 to 10 years, I think we'll see a big floating wind farm there.

Allen Hall: Spanish utility company Iberdrola is considering selling a 50 percent stake in a portfolio of U. S. renewable energy assets, which includes 400 megawatts of solar plants and 300 megawatts of onshore wind. For an estimated 1. 6 to 1. 8 billion us dollars.

The company is working with the bank of America on the potential sale and plans to formally launch the process in July with the aim of completing the transaction by the end of the year. This move comes as part of a broader review of Iberdrola's strategy in the U S following its recent agreement to fully acquire its subsidiary of on grid for 2.

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