Markets

The twice-postponed $230 million investment which will see Chinese state-owned Beijing Energy acquire a 32% stake in Hong Kong-listed developer Panda Green has finally gone through. The developer now has five months to drum up enough to pay off two more of its other three state-owned backers.

Renewable energy developers and investors have told Australian industry body the Smart Energy Council ‘they’re done. The sovereign risk in Australia is too great,’ according to the organization’s government relations manager, Wayne Smith. With prospects, employment and energy prices in jeopardy, the trade organization has vowed to petition policymakers for a bankable plan.

The government is planning to introduce a procurement regime this year which the Institute for Energy Economics and Financial Analysis says could drive the price of clean electricity as low as PHP3/kWh. It is thought projects which missed the feed-in tariff scheme deadline will be eligible to compete in the auctions.

Days after announcing a deal to supply electricity from 326 MW of solar generation capacity, Spanish energy company Iberdrola has secured another long-term power supply contract.

State-owned China Energy Engineering Corp Ltd said the PV capacity will be developed in two phases in a deal worth $500 million.

MIT scientists have taken a deep dive into solar technology markets in search of an economically sustainable path to commercialization for perovskites. The group estimates $1 billion of capital expenditure would be required to achieve the economies of scale necessary to compete with rival solar module technologies. However, several alternative suggestions for scaling up with lower investment costs were also considered.

Dubai-based Enerwhere has built an 80 kW floating array at a resort island in Abu Dhabi. The installation features bespoke modules from GCL and Sungrow inverters. The developer told pv magazine the business case was based on the fact the cost of diesel generator operation in such locations can run to $0.25/kWh.

The 5 MW Uliastai solar-plus-storage project will be located in the city of the same name in the western part of the country, around 1,100km from Ulaanbaatar. The facility is part of a plan to deploy 40 MW of solar and wind generation linked to energy storage in the nation’s western and Altai-Uliastai regions.

Solar has a small but increasingly important role to play in the Nordic energy transition. And while there is still a gap in PV cost-competitiveness across some markets, interest in solar facades, BIPV solutions and C&I applications is growing.

Greece has announced plans to install two PV projects at mining sites. The facilities are part of the national utility’s new strategy and in line with the country’s efforts to phase out coal.