Markets & Finance

The European Bank for Reconstruction and Development (EBRD) will provide up to US$229.4 million to ACWA Power to develop a 200MW/500MWh solar-plus-storage project in Uzbekistan.

Interest in co-locating solar PV with energy storage is increasing in Southern Europe, as grid curtailments and negative or near zero prices for solar PV become more frequent.

Spanish renewable power developer Zelestra has added €225 million (US$242.1 million) in loan financing to its funding streams.

The World Bank has committed US$1.5 billion to support India’s renewable energy transition, including new renewable power generation capacity.

Genex Power has secured a five-year US$107 million senior debt facility for its 50MW Kidston and Jemalong solar projects in Australia.

Solar and storage are playing a key role in Japan's push towards energy security, according to Uranulzii Batbayer and Aniket Autade of Rystad.

Norwegian energy company Statkraft has reduced its target to build solar, BESS and wind capacities from 2026 onwards.

Ahead of Large Scale Solar Southern Europe next week in Athens, Greece, PV Tech spoke with some of the panellists present at the event about the solar Greek market, including its challenges (curtailment, grid), policy support, and new technologies (agriPV, FPV, or green hydrogen).

The Net-Zero Industry Act will come into force starting from 29 June 2024 across all 27 member states of the EU.

Renewable energy sources provided 44.7% of the EU’s electricity consumption in 2023, according to data from Eurostat, the European Commission’s statistical office.