TimeWave Weekly Report on Electricity Industry - May 27th to June 2nd

June 3, 2026
Latest company news about TimeWave Weekly Report on Electricity Industry - May 27th to June 2nd

1. China's Shangyi Pumped Storage Power Station Connects First 1,400 MW Turbine to Grid

The Shangyi Pumped Storage Power Station in Zhangjiakou, Hebei Province, connected its first of four turbine units to the grid in late May 2026. With a total investment of CNY 9.56 billion (approximately USD 1.3 billion), the 1,400 MW facility features a rated head of 449 meters and is expected to generate roughly 1.4 billion kWh annually. The remaining three units are scheduled to be fully operational by September 2026. Located in China's largest non-hydro renewable energy base — where over 42 GW of wind and solar account for 88% of total installed capacity — the station will provide critical peak-shaving and grid stabilization services for the Beijing-Tianjin-Hebei region, including the Xiong'an New Area.

 

2. SGCC Energizes 500 kV Banan–Xinyu Project, Advances Two More Across Three Provinces

State Grid Corporation of China (SGCC) has energized the CNY 1.338 billion Banan–Xinyu 500 kV transmission and transformation project in Chongqing on May 17, 2026, marking the first 500 kV project to enter operation in the municipality during China's 15th Five-Year Plan period (2026–2030). SGCC is also advancing two additional 500 kV projects: the Ziyang II project in Sichuan Province has secured regulatory approval, while the Xuchang South project in Henan Province has completed its final acceptance inspection. These grid expansion projects aim to strengthen regional grid reliability and support rising electricity demand across central and western China.

 

3. Kehua-Delivered 180 MW / 360 MWh Standalone Storage Project Grid-Connected in India

A 180 MW / 360 MWh standalone battery energy storage project delivered by China-based Kehua has been successfully grid-connected in India. The project represents one of the largest operational standalone BESS installations in the Indian market and provides critical grid support services, including peak load management and frequency regulation, as India rapidly scales up its energy storage infrastructure to integrate growing renewable capacity.

 

4. Two Australian Pumped Hydro Projects Totaling 2.15 GW Enter Federal Approval Process

Two pumped hydro energy storage (PHES) projects have been submitted for approval under Australia's Environment Protection and Biodiversity Conservation (EPBC) Act. Hydro Tasmania's Cethana project in northwest Tasmania will provide 750 MW / 15 GWh with approximately 20 hours of storage duration, featuring an underground power station with four reversible pump-turbine units. Sunshine Hydro's Djandori project in Queensland will deliver 1,400 MW via six 233 MW reversible units, with upper and lower reservoirs totaling 51 gigalitres of storage capacity. Together these projects add 2,150 MW to Australia's expanding pumped hydro pipeline, following the recent commissioning of the Kidston project.

 

5. ContourGlobal Inaugurates 231 MW Solar + 200 MW / 1,300 MWh BESS Hybrid Plant in Chile

ContourGlobal has officially inaugurated the Víctor Jara hybrid power plant in Chile's Tarapacá Region, combining 231 MW of solar PV with a 200 MW / 1,300 MWh battery energy storage system (BESS). The BESS can deliver energy for 6.5 continuous hours after sunset, reportedly making it the longest-duration operational utility-scale BESS installation in Latin America. The plant will supply stable, clean electricity to mining operations in northern Chile, demonstrating the growing role of solar-plus-storage hybrids in decarbonizing energy-intensive industries.

 

6. Vesper Energy Secures USD 236 Million for 201 MW Texas Solar PV Plant

US independent power producer Vesper Energy has secured USD 236 million in debt financing to support the development of a 201 MW solar PV project in Texas. The project will add significant clean generation capacity to the ERCOT grid, which has experienced rapid load growth driven by data centers, electrification, and population increase. The financing underscores continued strong investor appetite for utility-scale solar assets in the United States.

 

7. Sunsure Energy Commissions 105 MWp Solar Plant in Uttar Pradesh, India

Indian independent power producer Sunsure Energy has commissioned a 105 MWp solar PV plant in the Mahoba district of Uttar Pradesh. The project is the first to be commissioned under India's Green Energy Corridor Phase II initiative, which aims to build out interstate transmission infrastructure to support large-scale renewable energy integration. The plant represents a significant milestone in India's efforts to expand solar capacity in its northern states.

 

8. EDF Signs 30-Year PPA with LADWP for 400 MW Utah Solar 1 Energy Project

EDF Renewables North America has signed a 30-year power purchase agreement (PPA) with the Los Angeles Department of Water and Power (LADWP) for the 400 MW Utah Solar 1 Energy project. The long-term offtake agreement will supply clean electricity to the city of Los Angeles and represents one of the largest solar PPAs in the western United States. The project will contribute to California's goal of achieving 100% clean energy by 2045.

 

9. PNM Files Resource Plan for 240 MW Solar + 610 MW Storage in New Mexico

New Mexico utility PNM has filed an integrated resource plan with the state's Public Regulation Commission seeking approval for 1.69 GW of new generation and energy storage capacity, including 240 MW of solar PV and 610 MW of battery storage. The plan is designed to meet growing electricity demand across New Mexico while supporting the state's clean energy transition targets.

 

10. India Installs 2.7 GW of Rooftop PV in Q1 2026, Driven by PM Surya Ghar Program

India installed 2.7 GW of rooftop solar capacity in the first quarter of 2026, driven primarily by residential installations under the government's PM Surya Ghar (Free Rooftop Solar) program. The subsidy scheme provides financial incentives for households to install rooftop solar systems, significantly accelerating deployment in the residential segment. India's total rooftop solar capacity continues to grow rapidly as the country pursues its target of 500 GW of non-fossil fuel capacity by 2030.

 

11. Türkiye Adds 1.97 GW of Solar in January–April 2026, on Track to Overtake Hydropower

Türkiye added 1.97 GW of solar capacity in the first four months of 2026, bringing cumulative solar capacity to approximately 26.8 GW by the end of April. Solar now accounts for 21.3% of the country's electricity mix and has surpassed natural gas as the second-largest generation source. Minister of Energy and Natural Resources Alparslan Bayraktar stated that solar is on track to overtake hydropower (32.3 GW) as the leading electricity source by the end of 2026, which would require at least 7.5 GW of total solar additions for the year.

 

12. France's Cumulative Solar Capacity Reaches 33 GW, Adding 1,495 MW in Q1 2026

France added 1,495 MW of new solar PV capacity in the first quarter of 2026, bringing the country's cumulative installed solar capacity to 33 GW. While Q1 2026 additions were slightly lower than the same period in 2025, the French solar market continues to expand steadily as the country works toward its EU renewable energy targets. France remains one of Europe's largest solar markets alongside Germany and Spain.

 

13. Australian Utility-Scale Solar and Wind Generation Rises 10% Year-on-Year in May 2026

According to Rystad Energy, Australia's utility-scale solar PV and wind assets generated a combined 4.6 TWh in May 2026, up 10% from 4.2 TWh recorded in May 2025. The increase reflects the continued expansion of large-scale renewable energy projects across Australia's National Electricity Market, supported by federal and state-level renewable energy targets and the retirement of aging coal-fired power stations.

 

14. South Africa Exceeds One Year Without Loadshedding, Rooftop Solar a Major Factor

South African utility Eskom has surpassed one full year without implementing loadshedding (planned blackouts), a milestone attributed to the mass build-out of rooftop solar, reduced electricity demand, and rising tariffs. Businesses and households across South Africa have installed significant volumes of rooftop PV in response to grid instability, collectively adding enough distributed generation to materially ease pressure on the national grid.

 

15. Svea Solar Utility Raises EUR 185 Million for 220 MW Swedish Solar-Plus-Storage Pipeline

Swedish developer Svea Solar Utility has secured EUR 185 million (approximately USD 215 million) in financing to support the development of what is set to become Sweden's largest solar PV project — a 220 MW pipeline combining solar generation with battery energy storage. The financing marks a significant milestone for the Nordic solar market, which has historically lagged behind other European regions in utility-scale solar deployment but is now attracting increasing investor interest.

 

16. Akaysha Energy's 415 MW / 1,660 MWh Orana BESS Achieves Full Output in Australia

Akaysha Energy's Orana battery energy storage system (BESS), with a capacity of 415 MW / 1,660 MWh, has reached full output and is now listed as an operating asset within Australia's National Electricity Market (NEM). The large-scale BESS is one of the largest operational battery storage projects in Australia and will play a key role in providing frequency control, grid stability, and energy arbitrage services as the country accelerates its transition to renewable energy.