Global solar additions to hit 310 GW in 2024, says IEA
The International Energy Agency (IEA) said in a new report that solar will remain the main source of global renewable capacity expansion in 2023, accounting for 286 GW. In 2024, the figure is set to grow to almost 310 GW, driven by lower module prices, greater uptake of distributed PV systems, and a policy push for large-scale deployment.
LevelTen announces PPA auctions
LevelTen Energy says it will offer power purchase agreements (PPAs) through a series of renewable energy auctions.
Meta to power US data center with 200 MW solar project
RPlus Energies has signed a long-term power purchase agreement with investor-owned utility Idaho Power to install the 200 MW Pleasant Valley Solar project in Ada County, Idaho.
Lebanon signs 11 solar PPAs, but financial closure remains challenging
Lebanon’s government has signed power purchase agreements (PPAs) for 11 projects with 165 MW of PV capacity. Investors have one year to reach financial closure.
Atlas Renewable Energy signs PPA for 902 MW of solar in Brazil
Atlas Renewable Energy has signed an unprecedented 21-year power purchase agreement (PPA) with Albras, the largest aluminum producer in Brazil. It is the longest corporate renewables PPA ever signed in Latin America.
Israeli developer starts building 250 MW/550 MWh solar-plus-storage project
Teralight has started building what will be Israel’s largest solar park. The Ta’anach PV project will have an installed capacity of 250 MW and include 550 MWh of storage. It is located in the Jezreel Valley, northern Israel, and will start operations in the first half of 2024.
LevelTen’s European solar PPA index fell to €73.2/MWh in Q1
US energy consultancy LevelTen Energy said in a recent report on solar and wind power purchase agreements in Europe that the prices of wind and solar power purchase agreements (PPAs) in the European markets increased by 56% year-on-year to reach €88.88 ($97.40)/MWh in the first quarter of this year.
What France’s Renewable Energy Acceleration Law means for PPAs
Several lawyers recently spoke to pv magazine France spoke about changes to the French legal framework for renewable-energy power purchase agreements (PPAs).
Key takeaways from Solar Solutions
The latest edition of Solar Solutions, the largest solar trade show in the Netherlands, showed that the Dutch PV market is set to stabilize in terms of volumes, while preparing to integrate more heat pumps and storage. The solar sector is asking to move away from net metering to create a more resilient distributed-generation PV market.
European Commission proposes electricity market reform
The European Commission’s long-awaited reform of the European Union’s electricity market proposes to keep the merit order mechanism, but going forward the European energy market will be more strongly characterized by long-term PPAs and bilateral contracts for differences.
