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Finance

Romanian plastics manufacturer secures financing for 4.56 MW of PV

TeraPlast SA has secured financing for 4.56 MW of solar, with approximately one-quarter of the project’s total value obtained through non-refundable financing from the Romanian government’s National Recovery and Resilience Plan. The project, which will include a 920 kW storage facility, is set to be completed in June.

Algeria’s Sonelgaz awards 3 GW of solar projects

Representatives of Algerian state-owned utility Sonelgaz have signed contracts with local and foreign companies for the construction of 20 solar projects from two tenders.

Bulgaria launches renewables-plus-storage tenders

Bulgarian businesses can apply for funding under two new tenders that aim to facilitate 1,425 MW of renewable energy generation capacity coupled with 350 MW of energy storage. Funding support is only offered for the storage component.

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Brite Energy Partners, LG Innotek sign 84.7 MW deal in South Korea

LG Innotek will secure electricity and supply renewable energy certificates (REC) under a 20-year fixed-price agreement, procuring 100 GWh of renewable energy per year.

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Decarbonizing aviation attracts venture capital

Since 2016, some $2.4 billion worth of venture capital flowed to companies developing electric aviation and other air travel decarbonization technologies with a strong start in investment volume in 2024, according to Dealroom.co, a Dutch data and intelligence firm.

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KKR set to potentially acquire Encavis

Encavis operates 2.2 GW of wind and PV assets across 12 European countries.

BlackRock invests $200 million in Enviria

BlackRock has invested €183 million ($200.2 million) in Enviria, a Germany-based company that specializes in deploying C&I PV systems, with a project portfolio currently totaling 2.3 GW.

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Zimbabwe approves 116 MW of PV projects

The government of Zimbabwe has approved a $45 million fund for renewable energy projects. The announcement coincides with the licensing of 10 independent power producers to generate 271 MW of renewable energy, including 116 MW of solar.

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Sosteneo to buy 49% of Enel’s battery business

Generali Investments’ Sosteneo unit will acquire 49% of the share capital in Enel Libra Flexsys, a company fully owned by Italian utility Enel, which operates a 1.7 GW portfolio of battery energy storage systems (BESS).

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Utility-scale PV cheapest power source in Asia Pacific, says WoodMac

Wood Mackenzie says the levelized cost of electricity (LCOE) in the Asia-Pacific region hit an all-time low in 2023, as utility-scale PV beat coal to become the cheapest power source. It predicts a further drop in costs for new-build solar projects, driven by falling module prices and oversupply from China.

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