Solar could have reduced UK gas reliance, says Carbon Brief
Carbon Brief has estimated that the United Kingdom would have needed to import 20 TWh less natural gas this year if successive Conservative governments had not wound down the rewards for generating solar electricity.
Equity investment to back 150 MW of commercial solar in Africa
Norwegian developer Empower New Energy has secured $74 million of mostly public funds from investors and will top it up to build a $100 million, three-year cash pile.
EU member states could use emergency energy measures to penalize solar
SolarPower Europe has called on EU nations to apply a blanket €0.18 ($0.18)/kWh cap on the revenue generated by low-margin power plants, even though Brussels has given member states the freedom to apply different rates to different types of power plants.
RWE to acquire Con Edison’s clean energy business
RWE has agreed to buy Con Edison’s renewables business for $6.8 billion. The combined portfolio almost doubles RWE’s operating assets in the United States to 7.2 GW, making it the fourth-largest renewables company and the second-largest US solar operator.
Engie, CBEA to build $60 million of minigrid projects in Nigeria
CrossBoundary EnergyAccess Nigeria has committed to invest $60 million in minigrid projects developed by Engie, in the largest such transaction in Africa. The projects will connect more than 150,000 people to electricity for the first time.
How the EU Commission envisages gas price caps and profit absorption on the electricity market
European Union energy ministers will meet in a special session in Brussels on Friday to discuss deep cuts to the gas and electricity markets. A non-public paper obtained by pv magazine shows the Commission’s proposal, which includes a triad of reduced prices, consumption reduction, and solidarity-based distribution of energy within the EU.
Brookfield Renewable acquires Standard Solar, Scout Clean Energy
Brookfield Renewable is set to invest up to $2 billion in Standard Solar and Scout Clean Energy, bringing its development portfolio to 60 GW.
Blackstone Capital move for mounting system company under scrutiny
The European Commission’s merger and acquisitions body is running the rule over a plan by New York-based Blackstone Capital to take joint ownership of expansionary Esdec Solar, alongside private equity group Rivean.
Solar energy tax credits are a boon to blockchain technology solutions
The Inflation Reduction Act (IRA), signed into law by US President Joe Biden, represents the single largest investment in clean energy, GHG emissions reduction, and climate resilience in the country’s history by providing around US$370 billion for green energy tax credits and other incentives to spur large-scale development of solar energy technologies to electrify the US’s digitization.
AfDB announces cheap loans to back off-grid solar in Africa
The African Development Bank has announced that European and US donors will provide $20 million of concessional loans to support pay-as-you-go solar companies in sub-Saharan Africa.
