Finance

The chairman of the European Energy Research Alliance says the EU must bring national research centers together in a continent-wide effort before it is too late, and the COP24 meeting needs to send out a positive message to the world.

A scenario in which no additional oil, coal or nuclear capacity is built and renewables grow at a pace of 3-4%, would see solar comprise 69% of the global electricity system by 2050. According to an EU thinktank, such an effort would boost European manufacturing, creating jobs and prosperity.

At the weekend’s G20 summit, a framework agreement for the project expansion was signed by project initiator Jemse SE and Chinese partners Power China and Shanghai Electric. The plant expansion will include the deployment of storage capacity. The project is one of two PV plants, totaling 400 MW, selected in round one of the RenovAr program for large-scale solar and renewable energies.

French developer Voltalia has secured an $18.1 million loan for its 50 MW Kopere solar project. The plant will sell power to utility KPLC under a 20-year PPA. The country’s Rural Electrification Authority is also tendering 1.1 MW of solar plants associated with minigrids in off-grid regions.

The outlook for sales and operating result has once again been lowered by the inverter maker. EBITDA is now expected to show a mid-to-high double-digit loss.

Lithium-ion prices are jolting upwards, it’s time to take a second generation storage solution seriously. Craig Irwin of ROTH Capital Partners says his company has been a long-term skeptic on both the lithium-ion battery cost curves shared by major OEMs and price forecasts presented by industry consultants.

Carbon Tracker has released a report claiming it is cheaper, in many markets, to construct new renewable generation assets instead of running legacy coal-fired power plants. Billions could be saved for customers, while profits in the two-digit billion-dollar range look set to be lost by the coal industry.

With a new decree, the Indonesian Ministry of Energy and Mineral Resources has enabled the owners of residential, commercial and industrial rooftop PV systems to sell excess power to the grid. The government hopes the new provisions will result in around 1 GW of deployed PV capacity over the next three years. Doubts, however, have been raised about the attractiveness of the scheme.

The French industrial equipment manufacturer expects to almost double turnover in solar by 2023. The company supplies materials for ingot production as well as providing electrical protection solutions such as fuses, fuse holders, heatsinks, wire management, disconnect switches, laminated busbars and surge protective devices.

The latest acquisition means the solar energy investment company has expanded its portfolio to 869 MW across 54 installations. The company says the increased diversification of its portfolio will improve operational efficiencies.