Solar intensifies in India
The levelized cost of solar power in India will be around 10% cheaper than coal by 2020, with PV penetration rates set to reach around 5.7%, according to a report by KPMG India.
Speaking at last weeks G20 summit in Antalya, Turkey, Indian Prime Minister Narendra Modi reiterated his desire to see more than $100 billion invested in his Global Solar Alliance. The newly formed organization of the worlds sun-rich nations aims to transform their energy infrastructures to ones rooted in solar power.
Indias solar rollout continues to attract major global players. Trina Solar has signed a memorandum of understanding with the Andhra Pradesh government for a $518 million 2 GW solar cell and module manufacturing facility.
Brazil approves 1.5 GW of green energy projects
In Brazil, the government has granted contracts for the construction of 53 new solar and wind farms, including development of 930 MW of PV capacity and almost 550 MW of wind as part of a $1.7 billion push to upgrade the nations energy system over the next few years.
On the other side of the Atlantic, a number of solar projects are taking shape across Africa, including Sterling and Wilsons aim to install 500 MW of PV over the next three years and a $100 million investment for renewables deployment in Rwanda and Uganda.
In Italy, utility group Enel is looking to buy back the 30% in renewable developer Enel Green Power (EGP) that it does not already own. The buyback is a key part of Enel’s efforts to increase its renewable energy activities, but the move has angered some EGP shareholders.
Battery prices on the decline
The cost of grid-connected battery storage in Australia looks set to fall significantly by 2020, according to a new report.
On a global scale, increased renewable energy generation is pushing down costs for lithium-ion (Li-ion) batteries, according to another report by Lazard. Li-ion prices could drop by as much as 50% by 2020.
Climate financing hits $391 billion?
Climate financing reached $391 billion last year. While private investment comprised the lions share driven by renewable energy deployment, and solar PV in particular public financing notably increased. Despite the rise, the investment gap between what is required and what is being delivered is said to be growing.
Over on pv magazine Latin America, the big news story of the week was Brazils third national solar tender, which awarded 33 PV projects with a total capacity of 1,115.889 MW. In Honduras, 389 MW of solar installations have gone online so far this year. They include a 100 MW solar farm and a 61 MW plant, both located in the south of the country. Spains Ingeteam supplied its PV inverters to the recently-inaugurated PV solar plant in Moquegua, Peru. The plant, recently inaugurated by Peruvian President Ollanta Humala, covers 134 hectares and represents an investment of more than 35 million.