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Galp

Portuguese fossil fuel giant creates renewables unit

Galp Energia aims to develop a sustainable power project portfolio based on solar and wind. It will devote up to 15% of its total investments to its renewable energy plans.

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Galp to buy ACS solar assets for €2.2 billion – enough to rebuild Real Madrid

Portuguese gas company Galp Energía says it will become “the largest solar energy company in the Iberian peninsula”. The agreement includes operating PV plants with an installed generation capacity of 900 MW plus a further 2.9 GW under development.

Spain’s ACS group may sell renewable energy unit

A source close to the company has told pv magazine although there are investment funds and utilities interested in buying the renewables business, an IPO for the entity has not been excluded.

‘Portugal’s bid of €0.01470/kWh is not the price of PV’

Antonio Delgado Rigal, chief executive of energy forecasting service Aleasoft, says the lowest final price of €0.0147/kWh announced by the Portuguese government from its recent solar auction does not reflect the real costs of PV and is no indicator of the future price of power in the electric market. More details of the auction are emerging and Iberdrola and Akuo appear big winners.

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