Masdar acquires 70% stake in Terna Energy
Abu Dhabi-based Masdar has taken a majority stake in Greek renewable energy company Terna Energy, with plans to launch an all-cash mandatory tender offer to acquire the outstanding shares.
Jordan’s solar panel, water heater subsidy scheme backed by banks
Cairo Amman Bank and Jordan Islamic Bank have signed joint cooperation agreements with Jordan’s Ministry of Energy and Mineral Resources to support the 2024/2025 phase of the country’s subsidy scheme for residential solar panels and solar water heaters. The scheme covers 30% of the cost of installations.
Germany commits €24 billion to build national hydrogen network
KfW Development Bank has offered €24 billion ($25.2 billion) grant to bridge the gap between network operators’ high investment costs and the initially low revenues from network charges.
LCOE not correct optimization parameter of PV plants, say researchers
New research from Italy shows the importance of considering power plant dispatchability in PV project planning. The scientists claim assessing a project’s levelized cost of energy could be misleading, especially with variable and sometimes negative electricity prices.
Funding secured for 237.6 MW merchant solar plant in Bulgaria
Up to €103 million ($107.2 million), from the European Bank for Reconstruction and Development and Raiffeisen Bank International, will support the development of a fully-merchant, 237.6 MW solar project in southeastern Bulgaria.
The Hydrogen Stream: EU offers financial support for renewable H2 auction
The European Commission, Austria, Lithuania, and Spain have announced new financial support measures for renewable hydrogen development as the European Union prepares for the second European Hydrogen Bank auction.
ADB to provide $160 million to finance 760 MW of solar in Azerbaijan
The Asian Development Bank (ADB) has agreed on a $160 million financing package for two solar projects in southeastern Azerbaijan, totaling 760 MW. Abu Dhabi-based Masdar is co-developing the project with a subsidiary of State Oil Company of Azerbaijan (Socar).
Irish utility Bord Gáis acquires solar installer Swyft
Bord Gáis has purchased County Cork, Ireland-based Swyft Energy for an undisclosed sum to help it meet its target of 10,000 solar PV installations over the next five years.
SMA reports weak financials, lowers 2024 outlook
German inverter maker SMA says it has recorded €1.06 billion ($1.12 billion) of revenue for the first nine months of 2024.
German financial regulator to audit Baywa’s 2023 annual report
The German Financial Supervisory Authority (BaFin) has announced an audit of BayWa AG’s 2023 annual report, citing specific evidence of potential accounting inaccuracies. For the first nine months of this year, BayWa’s records indicate €16 billion ($16.9 billion) in sales and a €77.6 million loss in earnings before interest and taxes (EBIT).
