Will Norman

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.

The new projects will support new capacity in Texas, Mississippi, Louisiana, Oklahoma and New Mexico as well as Maine.

Xcel Energy has reached an agreement on its 2024 Resource Plan which it says will reduce its carbon emissions by 80%.

“The required investment and technical know-how [for establishing cell capacity] is significantly more complex and substantial [than modules]”, Colville said.