Europe moves further towards large-scale battery cell production
More than a dozen European ministers of economic affairs have released a statement setting out the next steps to turn Europe into an industrial hub for large-scale cell production. The role of SMEs and competition was highlighted as ministers said European cells should provide innovation in terms of raw material use and sustainability, hinting at a pivot away from lithium-ion.
UK export payments won’t end – but they will get much smaller
The government has finally announced the results of its consultation on ending FIT export payments. With the vast majority of respondents against the proposal… it has responded by going ahead anyway.
Wacker Chemie reaches agreement with Yingli over poly supply deals
If the German polysilicon manufacturer is the ‘Supplier A’ referred to in the Chinese panel maker’s annual report, Wacker has negotiated a near $33 million settlement from arbitration. As part of the settlement, Wacker will continue to supply its counterpart with poly up to 2028.
More private PPAs signed in Italy
U.K. renewable investment firm Octopus has signed another private PPA in Italy, this time with EGO Group for 63 MW of unsubsidized solar PV projects. Meanwhile, Canadian Solar Inc. has signed a 10-year PPA with TrailStone GmbH for the energy generated from a 17 MW project in Sicily.
Scatec Solar reaches financial close on 47 MW Ukranian solar project
Scatec Solar ASA, in partnership with the Rengy Development Group, has closed financing on its 47 MW solar PV project in the Mykolaiv region of Ukraine.
Zola receives $32.5 million for expansion in Tanzania
Zola Electric has received financial backing worth $32.5 million from social investment firm Symbiotics and the Dutch development bank FMO. The lending facility will be used to grow Zola’s operations in Tanzania over the following five years.
EBRD unveils new energy strategy without coal or oil, looks to mobilize €1 billion in private sector capital
The European Bank for Reconstruction and Development yesterday unveiled its new energy sector strategy, which aims to ramp up renewables investment, while moving away from coal and oil. Gas will still remain a focus, however. It has also announced this week, plans for a €250 million green bond framework, through which it hopes to double the issuance of green/sustainability bonds in its active regions; and mobilize €1 billion in private sector investment over the next three years.
Swiss fintech startup builds platform for post-tariff renewable energy markets
As renewable energy subsidies slowly evaporate, managing risks and securing revenue streams is becoming increasingly complex for investors. Pexapark is looking to address this helping companies transact PPAs and manage energy sales.
Mercedes, Shell announce seperate private PPA agreements
Mercedes Benz has announced plans for all of its German factories to be supplied with CO2 free energy by 2022. Meanwhile, Renewables investment firm Octopus Energy has signed a five-year PPA with Shell Energy Europe to provide the global energy giant with power from several unsubsidized PV projects it is constructing in Italy.
ADB invests $155 million in Thai green bonds
The bank continues its involvement in Thailands largest IPP B.Grimm, which is set to grow its renewable energy portfolio. According to ADB, the green bond proceeds will go to nine operational solar PV plants with a cumulative rating of 67.7 MW, and 30.8 MW that are currently still under construction.
