Outlook strengthens for wind and solar

1. UK
Floating Offshore Wind Farm Aspen
US$4.6bn
Cerulean Winds

This 1,008MW floating offshore wind farm will sit 100km off the coast of Aberdeen. Offshore consent applications, including the environmental impact assessment, have been submitted. Approval expected in 2026, followed by a Contract for Difference Auction Round 8 application and final investment decision.

2. Kazakhstan
Onshore Wind Farm
Mirny
US$1.9bn
Total Eren

A 1GW onshore wind farm with 200 turbines is set for development in Moyinkum, Kazakhstan, paired with a 300MW/600MWh energy storage facility. Construction will begin in Q1 2026, supporting large-scale renewable energy generation and strengthening regional grid stability.

3. Qatar
Dukhan Solar Power
Plant
US$1.2bn
QatarEnergy

Samsung C&T Corporation has won a US$1.2bn engineering, procurement and construction contract to develop a 2GW solar project for completion in 2030. With solar tracking and advanced inverters for desert resilience, it will supply clean energy to 750,000 households. Samsung will oversee design to construction.

4. Saudi Arabia
Bilghah Onshore Wind Farm – NREP 7
US$1bn
Saudi Power Procurement Company

The development of a 1.3GW onshore wind farm. Saudi Power Procurement Company issued a request for qualification for Round 7 of Saudi Arabia’s National Renewable Energy Program, totalling 5.3GW. The round includes four solar PV projects (3.1GW) and two wind projects (2.2GW).

5. South Korea
Floating Offshore Wind Farm Munmubaram 1
US$2.25bn
Hexicon

Hexicon has signed a Letter of Intent with Ulsan Metropolitan City to advance the floating offshore wind industry and promote regional economic development. Ulsan will create a supportive environment for investment and project implementation, while MunmuBaram will invest in the 750MW project under development.

6. UAE
Al Azeezah Solar
PV Plant
US$4bn
Masdar

Masdar’s 5.2GW Solar PV project, combined with 19GWh battery energy storage, will deliver up to 1GW of continuous baseload power. Also known as the Round The Clock project, Masdar has shifted from its original plan of producing 350,000 tonnes of green ammonia annually to supplying power to data centres instead.

7. Chile
HNH Wind Farm
Phase 1
US$2bn
HNH Energy

The 1.4GW wind farm under development in Chile’s southerly Magallanes region will feature 194 turbines, each with 7.2MW capacity. On completion, it will be used to power a 1GW electrolyser, which will enable the production of approximately 800,000 tonnes of green ammonia per year.

8. Libya
Eastern Libya
Solar Project
US$2bn
General Electric Company of Libya

A 1.5 GW solar power plant is set for development in eastern Libya. The project is part of the country’s US$10bn solar energy programme, which targets 4GW solar power capacity by 2035. EDF and PowerChina will collaborate to deliver the project, boosting Libya’s renewable energy expansion.

9. Australia
Upper Calliope
Solar Farm
US$1.3bn
European Energy A/S

Under development, the 1.3GW solar photovoltaic power project near Gladstone will supply renewable energy to three production facilities: Boyne aluminium smelter, Yarwun alumina refinery and Queensland alumina refinery, supporting decarbonisation and sustainable energy use in Queensland’s heavy industry sector.

10. Morocco
NOOR Midelt 2 – Hybrid PV and CSP Solar Power Plants
US$800m
ACWA Power

With a capacity of 400MW, the project will include concentrated solar power, photovoltaic technology and energy storage. ACWA Power will be developing the Noor Midelt II and III hybrid projects under a build-own-operate model, with a 30-year power purchase agreement signed with the Moroccan Agency for Sustainable Energy.

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