Analysts at Fitch Solutions have published a report singling out Spain and Brazil as ‘outperformers’ in the global solar market and labelled Vietnam the “market to watch”. The analysts expect surging growth from the Southeast Asian nation to continue in the coming decade.
Co-location of solar and storage may accelerate the deployment of profitable merchant renewable energy projects in the United Kingdom, according to a report by Aurora Energy Research. The study predicts installed solar capacity in the U.K. may increase from around 13 GW next year to 19 GW in 2030 and 32 GW in 2040.
The €29.7 million financing package was awarded by Banco Sabadell. Renovalia’s 79.2 MW solar park will be Spain’s first PV facility to sell all of its output on the spot market.
As contract lengths shorten, U.S. solar developers and investors are relying more and more on sales of power in the spot market as the future.
The first movers are two big energy consumers – the Airport of Paris and state-owned railway company, SNCF – which have decided to consider bids from renewable energy producers. According to Xavier Daval from local association, SER-Soler, private PPAs will be able to offer the stable electricity prices currently being granted by nuclear power, over the next few years.
The Ministry of the Ecological Transition has given the green light to a solar park near the municipality of Talayuela, in the southern region of Extremadura. Work on the facility may begin this year with completion scheduled for 12 months later.
A hugely-ambitious plan to develop a 200 MW PV array and 120 MWh battery system in South Australia has received development approval. The project developer, which is hosted by the University of South Australia’s ThincLab accelerator, reports that the $450 million project is privately financed with a 60/40 merchant/PPA structure – a significant milestone for the market segment.
The three facilities are located near Santiago and are expected to sell power to local customers. All the projects were developed under Chile’s PMGD Program for distributed generation.
The PV plant is one of the country’s first merchant solar projects after the energy reform was introduced. The project’s required investment was $14 million.
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