The scale of fossil fuel deals signed between African governments and U.K. oil and gas interests reportedly amounted to more than 11 times the volume of renewable energy commitments as Britain scrambles for post-Brexit financial opportunities.
Solar deployment continued to pick up in the Middle East and North Africa in 2019, the Middle East Solar Industry Association has said in its annual report.
By this time next year we may be able to wave goodbye to that old chestnut about renewables endangering security of supply. Elsewhere, the price of lithium – and the products it goes into – could go either way after tanking this year.
The European Bank for Reconstruction and Development is offering the funds to Egypt’s transmission system operator to strengthen the country’s grid to host more renewable energy in anticipation of rising power demand over the coming decade.
The French energy group has injected an unspecified sum into KarmSolar, which has a 165 MW solar project portfolio in Egypt. The developer specializes in power purchase agreements and solar distribution contracts with large commercial, agricultural and industrial clients.
Saudi energy giant ACWA Power won the tender for the project in August thanks to a lowest final electricity price offer of $0.02752/kWh. Construction of the facility, which will use bifacial panels, is expected to be complete by April 2021.
With power production up 133% year-on-year, revenues and EBITDA also rose significantly.
Although the Wiki-solar website ranking only gives a snapshot of PV project engineering, procurement and construction contracts outside China, it is nevertheless a useful indicator of the changing shape of the global solar market.
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