A worsening price shock, felt to different degrees across Europe, has now seen renewable power purchase agreement tariffs climb for three consecutive quarters. Despite that, however, developers and energy buyers are still signing contracts, with non-standard agreements on the rise, according to renewable transaction infrastructure provider LevelTen Energy.
The Italian energy major this morning announced it had acquired German-owned clean power developer Solar Konzept Greece.
Figures released by Eurostat this week indicated the monumental task facing the renewables industry as Europe attempts to replace a power source which generated a quarter of the bloc’s electricity in 2020.
Right before the holiday season, the European Commission unveiled the latest installment of its “Fit for 55” legislative package – plans that aim to put the continent on track to reducing emissions by 55% by 2030. These additional proposals include the Hydrogen and Decarbonised Gas Package, as well as a revision to the Energy Performance of Buildings Directive (EPBDII).
The 11 planned off-grid networks will offer clean power to around 20,000 people for €0.28/kWh, according to one of the EU bodies which is backing the project.
State-owned power generation company China Huadian Corporation has begun work on a 3.3GW solar site in Sichuan province. The project is one of nine renewable energy plants listed in China’s latest national five-year plan.
Wood Mackenzie has predicted solar equipment cost increases will ease back after last year saw the average cost of solar electricity rise for the first time in the Asia-Pacific region.
While the chief executive of Ukraine’s biggest private energy company scrupulously mentioned the role renewables could play in counteracting the Nord Stream 2 gas pipeline, he called for his country’s gas market to be liberalized just as the European Commission appears set to rubber stamp gas as ‘sustainable.’
A 70MW solar plant at Pabna has today been rubber-stamped, together with a 50MW site in the Mymensingh district proposed by Total Eren alongside Norwegian and local development partners.
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