Electricity

The Anglo-American company is the latest utility to enter the utility-scale solar and wind development space by closing on its acquisition of Geronimo Energy.

ACWA Power has an installed capacity of more than 1 GW of PV projects across MENA, Southern Africa, and Southeast Asia, and was awarded the landmark Sakaka Project – Saudi Arabia’s first utility scale PV project – which it began to construct in November 2018. pv magazine caught up with Paddy Padmanathan, CEO of the Saudi-based energy giant to discuss the Middle East’s growing solar markets.

From scorching Seville to rainy Rostock, investors claim that power purchase agreements (PPAs) have made European solar farms bankable without government subsidies. By providing lower risk for cheaper capital, they are powering a renaissance in established PV markets and lowering the cost of solar electricity in Europe.

A draft of the new rules was submitted to public consultation by the Argentinean government. The new regulation, if implemented, would authorize the sale of power to large industrial power consumers by direct agreement.

Data from the Central Electricity Authority shows that electricity from solar jumped 81% year-over-year in fiscal year 2016-17 to reach ~13.5 billion units, reports Mercom Capital Group.

As part of the green corridor project, the Power Grid Corp. of India will build power lines to transmit 20 GW of power capacity across 34 individual solar power plants. Project cost to run to $1.8 billion.