The French energy giant will build the facility near Iquitos, the largest metropolis in the Peruvian Amazon.
The sheer volume of new power lines which will be required to accommodate the rising tide of solar installations ensures copper has been included by the International Energy Agency on its list of minerals which must keep flowing if the energy transition is to stay on course. And it’s not production that’s the potential bottleneck.
The latest set of clean energy statistics compiled by the International Renewable Energy Agency signal a changing of the guard when it comes to clean power, with legacy hydropower facilities overtaken by new intermittent renewables.
The levelized cost of energy generated by large scale solar plants is around $0.068/kWh, compared to $0.378 ten years ago and the price fell 13.1% between 2018 and last year alone, according to figures released by the International Renewable Energy Agency.
Grenergy was this week due to ship 400,000 face masks to Latin America as European developers today voiced a fear project finance will become increasingly difficult to find as the coronavirus lockdown continues.
At the ongoing COP25 summit in Madrid, the French energy group announced the closure of nearly 1 GW of coal assets in Chile and Peru between 2019 and 2024. It also secured a PPA for an 18 MW solar park that will come online in southern France in June 2021.
The latest study published by the International Renewable Energy Agency says the average solar electricity cost of $0.085/kWh produced by projects commissioned last year is set to fall to $0.048 next year, and $0.02-0.08 by 2030.
With clean energy being generated at lower and lower prices around the world, solar power is playing a leading role in bringing the curtain down on coal, and will help the decarbonization of transport and space heating too.
The Spanish developer has acquired the Tacna Solar and Panamericana Solar projects which it developed and built for X-Elio in 2012.
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