CleanTech Report July 28th 2020 |
NORTH AMERICAStandard Solar Gets $105 Million For U.S. Solar Projects Standard Solar announced recently that it closed a tax equity commitment for up to $105 million to fund distributed generation (DG) solar projects. These projects will be in the five U.S. states (Arizona, California, Massachusetts, New York, Rhode Island). The financing was secured through tax equity commitments from Fifth Third Bank, National Association, and IBERIABANK. There are a total of nine projects in the portfolio and they are a mix of community solar and traditional DG projects. New York Launches Largest Renewable Solicitation In US History The solicitation calls for up to 4,000 megawatts of renewable capacity, all with the direct objective of combating climate change. Of these 4,000 MW, the solicitation calls for up to 2,500 megawatts of offshore wind projects, as well as over 1,500 megawatts of land based large-scale renewable energy projects. That 1,500 MW solicitation, issued specifically by the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority (NYPA), is the nation’s largest coordinated solicitation for land based large-scale renewable energy projects by a U.S. state. The U.S. Installed More Microgrids In 2019 Than Ever Before In Wood Mackenzie’s newest report, US microgrid forecast H1 2020: Coronavirus delays projects and impacts origination, the organization shares that 546 microgrids were installed in the United States during 2019, more than any other year. Even more impressively, 67% of those nearly 550 microgrids were installed by just three organizations: PowerSecure, Enchanted Rock and The American Red Cross, with The Red Cross being the only group among the big three to integrate energy storage into their projects, pairing them with solar at non-residential locations. |
LATIN AMERICABrazil Based Fintech Solfácil Secures $4 Million In Capital To Help Finance Installation Of Solar Panels Brazil-based Solfácil, a Fintech firm focused on helping with financing the installation of solar panels in homes, is reportedly looking to expand its operations after acquiring additional funding. OLADE And IRENA Partner To Drive Green Recovery In Latin America The International Renewable Energy Agency (IRENA) and the Latin American Energy Organisation (OLADE) have expanded their partnership to boost renewable energy adoption, thereby accelerating economic recovery against COVID-19. OLADE and IRENA will promote renewable energy investment and financing, as well as energy integration in the region. Up to $45 billion is required per year between now and mid-century – an increase of more than 10% over current plans and policies, according to IRENA. Repsol Forges 2.6 GW Chilean Ties Spanish energy company Repsol is to take a 50% stake in a portfolio of renewable energy projects in Chile totalling over 2600MW. The deal will see Repsol form a 50:50 joint venture with Grupo Ibereolica Renovables, through an increase of capital of €168M to be disbursed by Repsol through 2023. Repsol also has the option to take control of the venture from 2025. |
EUROPEEnergy Subsidy Program Of €850 Million The “Energy Savings at Home” subsidy program (known in Greek as “Exoikonomisi Kat’ Oikon”) has been renamed “Energy Savings and Automation for Smart Homes” and begins this fall with an initial budget of 850 million euros and an extended selection of energy efficiency solutions. This program is the first in a government-funded initiative incentivizing energy efficient solutions, which also allows for the direct channelling of a €27 billion funding package recently secured by the government. Ball Signs Agreement To Strengthen 100% European Renewable Energy Goals Ball Corporation, a provider of metal packaging for beverages, foods and household products, has announced that it will sign two virtual power purchase agreements (VPPAs), in a bid to achieve and maintain 100% renewable energy in Europe. The wind energy projects – one for the Corral Nuevo project with wpd and another for the Brattmyrliden project with Falck Renewables – will generate nearly 308,000 megawatt hours (MWh) of renewable electricity in Europe each year. Long-Term Decarbonization Goals Are Powering Energy M&A Renewable energy-themed deals have defied a free-falling oil price and M&A market as traditional utilities and investors adjust their sights on the longer term. The oil price collapse in the first quarter precipitated by the coronavirus pandemic should have put M&A in the electrical power generation and transmission industry on hold, as wholesale energy prices came under pressure. That has not been the case. On the contrary, there was US$38.7 billion worth of deal activity in the first six months of 2020, a 7% rise on the same period last year. |
ASIAIndia Set To Propose World Solar Bank & Mobilize $50 Billion In Solar Funding The MNRE may propose that the World Solar Bank disburse $50 billion over the first ten years. The bank will require $10 billion in equity capital and $2 billion in paid-up capital. Upon receiving the first $6 billion of this funding the bank will be able to start its operations. Azure Power Secures Letter of Award for 2 GW Greenshoe Option Azure Power, a leading solar power producer in India, announced that it has received the letter of award (LOA) for a 2 GW interstate transmission (ISTS) solar power project with Solar Energy Corporation of India (SECI) pursuant to the exercise of a greenshoe option as part of an earlier 2 GW win with SECI. Under this greenshoe LOA, Azure will supply power for 25 years at a tariff of INR 2.92 (~US 3.9 cents) per kWh. The project also comes with a 500 MW cell and module manufacturing capacity requirement and Azure Power intends to partner with a domestic manufacturer for this requirement. Indian State Of Rajasthan Announces 1 GW Solar Power Tender The Indian state of Rajasthan is set to develop 1,070 megawatts of solar parks to increase its share of renewable in overall energy mix. The Solar Energy Corporation of India (SECI) has invited bids for grid-connected solar photovoltaic (PV) power projects to be set up in the state. |
MENAOman Issues RFP To Bidders For 1 GW Renewable Energy Project Oman Power and Water Procurement Company (OPWP) has announced that request for proposals has been issued to all prequalified bidders to participate in a competitive tender for two co-located Independent Power Projects (IPP) coming up in the sultanate. Nine leading energy project developer/developer consortiums are in the race for the ‘Manah Solar I and ‘Manah Solar II IPPs which will offer an aggregate capacity of 1GW, effectively making the combined scheme the largest renewable energy venture of its kind when it comes into operation during the summer of 2023, said a statement from OPWP. Siemens Deploys Its First Microgrid In The Middle East At Sultan Qaboos University In Oman Siemens will provide equipment and software for a microgrid at Sultan Qaboos University (SQU) that will improve power supply reliability and lower costs by combining electricity from solar, wind and battery storage. The microgrid at SQU is the first deployment of the technology for Siemens in the Middle East, and is the company’s first contribution in a new cooperation agreement with the university. Trina Solar Unveils Vertex 600W Series Module And Expects Mass Production Of 550W Series Later In Year Trina Solar Co., Ltd (‘Trina Solar” or the “Company”) has announced the launch of two next-generation Vertex series modules with power output of up to 600W. The company expects to realize the mass production of a 550W series in the final quarter of this year. Several representatives of upper, middle and lower streams of the industrial value chain of the 600W+ Photovoltaic Open Innovation Ecological Alliance, representing manufacturers of silicon, wafers, cells, modules, trackers, inverters, materials and equipment, took part in a launch event and witnessed the new next-generation Vertex series modules. |
AFRICAFlexible Energy Systems For Africa Accelerated By Crises Responding to the department of mineral resources and energy’s first budget speech since the merger of the two departments, Standard Bank Group says the COVID-19 crisis highlights that Africa needs to develop flexible energy systems. The Bank sees renewables and decentralised technologies play a far larger role in creating these new approaches to the delivery of electricity. Another Solar Module Factory In North Africa Teriak Industrial Group, a private Egyptian company that specializes in the production of automotive components, owns and operates the new 100 MW manufacturing facility. Spain’s Mondragon Assembly supplied the production line. Africa’s Distributed Energy Resources Dominated By Overseas Players A briefing released by Oil Change International details how the growth of distributed renewable energy in Africa has so far failed to include locally-owned companies and initiatives. The Distributed Funds for Distributed Renewable Energy briefing by the advocacy organisation highlights the need for public finance institutions to prioritise local ownership of off-grid and mini-grid renewable energy initiatives. |
AUSTRALIAAustralia’s Renewables Pipeline Continues To Grow At Record Speed Led By Solar PV The Australian renewables sector was not immune to a host of challenges that marked the first half of the year, but the pipeline of renewable energy projects in the country reached new heights. While new construction dipped to a four-year low and financial close remained out of reach for a great number of projects, the second half of the year is looking more positive, according to Norwegian consultancy Rystad Energy. Australian University Builds $89M Solar Farm To Become 100% Renewable Australia’s University of Queensland (UQ) has built a US$89m (A$125m) 64MW solar farm in Warwick so it can run on nothing but renewable energy The solar farm complements the seven megawatts produced at UQ campuses in Gatton and St. Lucia. Warwick Solar Farm’s yearly 160GWh output could power 25,000 households. ARENA Funds Study To Tackle Unstable Grids In Australia The Australian Renewable Energy Agency (ARENA) has issued AUS$495,680 in funding to ensure optimal management of unstable and weak grid networks in Australia. The funding will be leveraged by the Grid Innovation Hub at Monash University to explore how to manage unstable and weak parts of the electricity grid. The study will look at issues such as the integration of distributed renewable energy technologies like solar, wind and battery projects into weaker parts of the National Electricity Market (NEM). |
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