The development lender will supply three-quarters of the funds as Hellenic Petroleum aims to raise €100 million for a reported 18 solar sites in the nation’s coal heartland.
With a previous 50-50 split between equity and debt investment funding for the off-grid market lurching to 84% borrowing, and commentators stating most of this year’s backing was agreed before the onset of Covid-19, fears are mounting about the prospects for the sector.
Canadian Solar has agreed to invest $1.5 billion in a 10 GW solar cell and module factory in eastern China. GCL New Energy, meanwhile, has revealed the terms of a plan to sell a solar project portfolio to state-owned Huaneng.
Chinese solar project developer GCL has added 109 MW of generation capacity to the proposed sale to the state-owned buyer – and would receive US$81 million less financial benefits in return.
With the SolarPower Summit 2020 taking place this week, organizer SolarPower Europe has assessed the plans drawn up by member states would mean the bloc sourcing 33.1-33.7% of its energy from clean power by the end of the decade, with the help of 19 GW of new solar per year.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
Oil and metals trader will join forces with Australian investment group IFM to launch the new entity, which will develop solar, wind and energy storage projects – some of them supplying clean energy to Trafigura operations – as well as making acquisitions.
The Caucasian nation could use its hydropower resources to generate the sustainable fuel for transport in its gas pipeline network. An agreement to cost the development of such an industry formed part of a deal which will see the EBRD lend the Georgian Oil and Gas Corporation €217 million to help it through a Covid-19-related cash crisis.
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