The European Investment Bank and Greece this week signed a first-of-its-kind agreement to jointly manage €5 billion of investment concerned with the EU member state’s post-Covid recovery plan. The strategy has a key focus on green energy.
Instead of splurging €11 billion of EU cash on uneconomic new generation capacity, the Italian authorities–and electricity bill payers–would be better served investing in a mix of current clean power technologies which would include almost 17 GW more solar capacity.
West Africa hogged more than twice as much investment as the east in a year which saw stock market backing plunge an ‘alarming’ 46%, leaving donor grant funding and debt to pick up the slack during a Covid-hit year, according to off-grid industry body GOGLA.
An ‘explosive’, ‘booming’ global solar market in the second half of a Covid-hit 2020 saw the previous glass manufacturing overcapacity reversed, as float and auto glass producers bent all their efforts on making material for PV modules.
The renewable energy unit of the Total group expects to energize two solar parks next year.
Saudi power company ACWA Power today revealed it has signed a 25-year power purchase agreement with the Egyptian Electricity Transmission Company and said development was on track for generation to start before October next year.
Monocrystalline module manufacturer Longi is venturing into new territory but missed out to its rival on two big panel orders from a state-owned power company.