In the first 2018 round for solar rebates, funds were allocated in just nine minutes. More than two thirds of the selected projects included a storage solution.
The Danish energy group made the announcement in its latest financial results, where it stressed how its strategic transformation to a green energy company is progressing.
The Norwegian polysilicon producer saw its stake in the joint venture (JV) with Chinese silicon material manufacturer, NSF reduced, after the latter agreed to provide all of REC Silicon’s outstanding capital contribution for the project.
The scheme is being implemented with the support of the West African Economic and Monetary Union (UEMOA), the International Renewable Energy Agency (IRENA) and the German development agency, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).
The project will consist of a 13 MW solar facility, three 2 MW diesel power generators, and a 5 MWh storage system.
The 25 MW project is being financially supported by the European Union and the AFD with €60 million.
The scheme, which was not included in the Renewable Electricity Support Scheme (RESS) unveiled by the Irish government in September, will initially be targeted at residential self-consumption.
The Chilean government said that existing coal power plants will be gradually closed, although by 2030, the fossil fuel is still expected to account for 25% of thermoelectric power production. Renewables, however, are forecast to cover the remaining 75%.
The Talasol project, which the Israeli solar company acquired in May, plans to sell power to the Spanish spot market starting from 2020. The financial hedge will cover the supply of between 3,500 GWh and 3,700 GWh for a 10-year period.
The portfolio consists of 12 solar plants to be developed under Chile’s PMGD Program for distributed generation.
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