Renewable Energy Weekly — 2026-06-10
Gamuda's major solar and wind projects in Tasmania secured Australian government backing this week, while Mitsubishi HC Capital and Brookfield launched a 570-MW Europe-focused renewables joint venture targeting 400 million euros in acquisitions. Global battery storage hit record 108 GW in 2025, and India's wind capacity surged 58.5% year-over-year in May.
Renewable Energy Weekly — 2026-06-10
Top Stories
Gamuda Secures 15-Year Revenue Guarantee for Tasmania Clean Energy Projects
- What happened: Malaysia's Gamuda Berhad's Weasel Solar Farm and Cellars Hill Wind Farm projects in Tasmania were selected under Australia's Capacity Investment Scheme, providing a government-backed revenue safety net for up to 15 years. The projects reduce investment risk significantly.
- Why it matters: This scheme demonstrates how government backing can accelerate renewable energy deployment. The revenue guarantee provides long-term certainty, making large-scale solar and wind infrastructure more attractive to international developers.
- Scale: Major projects selected under Australian government support program
Mitsubishi and Brookfield Launch €400M Europe Renewables Partnership
- What happened: Mitsubishi HC Capital and Brookfield announced a 50-50 joint venture targeting the acquisition of solar and onshore wind assets across six European countries. The partnership is expected to launch by August 2026 with approximately 400 million euros in committed capital.
- Why it matters: This deal signals strong international appetite for European renewable assets and demonstrates consolidation among major investment firms. The 570-MW capacity target shows continued momentum in diversified clean energy portfolios.
- Scale: 570 MW of solar and wind capacity across six European countries; €400 million acquisition fund
Foxconn and Brookfield Partner on 1 GW Vietnam Clean Energy Initiative
- What happened: Foxconn announced a major renewable energy collaboration with Brookfield to develop up to 1 GW of solar, wind, and energy storage capacity in Vietnam. The partnership supports Foxconn's manufacturing sustainability goals and corporate decarbonization targets.
- Why it matters: This project demonstrates how manufacturing giants are driving renewable energy demand in Southeast Asia. The 1-GW target represents significant infrastructure investment and shows how corporate sustainability commitments translate to real project development.
- Scale: Up to 1 GW of solar, wind, and battery storage capacity in Vietnam
Project Tracker
| Project | Type | Capacity | Location | Status | Source |
|---|---|---|---|---|---|
| Adani Green Energy Khavda | Solar | 50 MW | Rajasthan, India | Operational (June 1, 2026) | |
| US Q1 2026 Combined Capacity | Solar/Wind/Storage | 6.4 GW | United States | Under Construction | Link |
| Tumbleweed Long-Duration Storage | Battery Storage | 8-hour duration | Kern County, California | Operational | Link |
Policy & Regulation
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United States: A federal court vacated IRS Notice 2025-42 on June 6, 2026, restoring the 5% safe harbor for wind and solar projects, providing critical tax credit certainty for renewable developers ahead of the July 4 construction deadline for full tax credit eligibility.
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European Union: The EU unveiled a battery independence strategy targeting €27 billion in spending, including €1.8 billion in financing, to fast-track permits and reduce dependence on Chinese battery imports through Made in Europe content rules.
Investment & Finance
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Mitsubishi HC Capital & Brookfield: €400 million committed to European solar and wind asset acquisitions across six countries in a new 50-50 joint venture launching August 2026.
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Foxconn & Brookfield Partnership: Multi-gigawatt clean energy collaboration in Vietnam combining solar, wind, and storage to support manufacturing decarbonization.
Technology Spotlight
Hybrid Solar-Storage Surging for Data Center Power: Deployment of hybrid solar-plus-battery systems is accelerating across the United States as developers capitalize on fast construction timelines and steep cost declines. Battery storage costs have fallen 93% since 2010, while firm solar-plus-storage systems now cost $54–$82/MWh at high-quality sites—a dramatic drop from above $100/MWh in 2020. This trend reflects the economics of powering hyperscale data centers, which are increasingly turning to fast-deployed clean energy rather than waiting for traditional gas plants.
What to Watch Next Week
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July 4 Tax Credit Deadline: U.S. renewable projects must begin construction by July 4, 2026, to qualify for full Investment Tax Credit (ITC) and Production Tax Credit (PTC) benefits under Section 45Y and 48E. Expect major permitting updates as developers finalize timelines.
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Ireland Hydrogen Storage Call: Submissions for Ireland's underground hydrogen storage development close July 17, 2026. Watch for announcements on selected storage sites and commercial timelines for green hydrogen infrastructure.
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EU Battery Manufacturing Permits: Fast-track permitting for European battery factories under the new €1.8B financing initiative should yield first approvals. Monitor for Made in Europe battery plant announcements competing with Asian imports.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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