The European Investment Bank and Greece this week signed a first-of-its-kind agreement to jointly manage €5 billion of investment concerned with the EU member state’s post-Covid recovery plan. The strategy has a key focus on green energy.
The Greek government has published its plan for a post-Covid economic recovery. The strategy aims to mobilize at least €10 billion towards the green energy sector, with the prospect of further EU loans on top.
The three Mediterranean countries of Greece, Cyprus and Israel signed this week an agreement to develop a subsea cable that links their electricity grids. Upon completion, the so-called EuroAsia Interconnector will be the world’s longest subsea power cable and could boost solar PV development in all three countries substantially.
Forecasts for the levelized cost of electricity (LCOE) of solar PV were hotly contested over the past decade, with one trend predominating: All but the most optimistic outlooks were wrong. pv magazine has gathered data to showcase the recent evolution of solar PV energy costs, and the results are stark. Within just a few years, initial projections become outdated, which means that forecasts of solar PV prices are more art than science.
The inauguration of Joe Biden as the 46th President of the United States has brought hope the country will play a central role in the world’s energy transition and combating climate change. However, rather than teaching other countries lessons, the U.S. will need to catch up with the rest of the world, and it needs to do so quickly – the world won’t wait for the U.S.
The national energy regulator has announced the country will host its third joint solar-wind tender and the energy ministry separately confirmed the procurement timetable will continue until 2024, auctioning an additional 2.1 GW of solar and wind power capacity via another six auctions.
The EU Directive on Waste Electrical and Electronic Equipment remains the primary legislation setting the requirements for the recycling of photovoltaic panels in Europe. pv magazine examines whether the policy is in need of a drastic update, and what it can be done to improve the sustainability of the PV sector through recycling.
The EU Council has rejected a Covid-inspired European Commission proposal for a €40 billion warchest to help coal-dependent regions shift to renewables, with the heads of member states instead allocating €17.5 billion. Despite the final figure being €10 billion higher than that suggested by the commission before coronavirus battered Europe, questions have been asked about how useful the program will be.
As a business prospect, producing hydrogen via sustainable means remains in its infancy. However, analysts appear increasingly certain that we are seeing the dawn of a vital new industry. In Europe, some countries (such as Germany and Portugal) have already adopted national strategies for the production and use of the fuel. And in July, the European Union also published a comprehensive hydrogen strategy as a central part of a climate-neutral Europe.
The price tariff agreed by German company ABO Wind for a 10 MW solar project in Igoumenitsa came in a tender which allocated only 142 MW of generation capacity, well short of the hoped-for 482 MW. It is hoped a slimline licensing process, to be applied in the next procurement round, will address the problem.
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