Will Norman

The decision has been forecast for some months and was welcomed today by Holland Solar, the Dutch solar association, which acknowledged that the current scheme is “no longer sustainable”.

The deal pertains to Runergy’s operations in the US, where it operates a 2GW TOPCon module production facility in the state of Alabama.

France installed 4GW of solar PV capacity in 2023, a “record” according to the International Energy Agency (IEA).

The loan will support the development of the Guayepo I and II solar PV projects, as well as Enel's distribution business.

They relate to the tunnel oxide passivated contact (TOPCon)solar cells used in Runergy and Adani’s products sold in the US and the manufacturing processes for those cells.

DNV's report shows that 2024 is a landmark year, but the energy transition still faces financial and political headwinds.

EQT said the acquisition will help OX2 to grow its market position and strengthen its market presence in the long term.

To date, two 700MW high-voltage cables between Morocco and Spain are the only interconnections between the two continents.

Once complete, the project is intended to produce 5GW of tunnel oxide passivated contact (TOPCon) cells and 3GW of modules.

Engie said the loan would support its plan to phase out coal from its portfolio by 2025 in continental Europe and 2027 worldwide.