Markets & Finance

On Wednesday 19 July, The European Parliament (EP) has approved by 55 votes in favour and 15 against reforming the EU Electricity Market Design.

Electrification cable manufacturer Nexans has been awarded a €1.43 billion (US$1.59 billion) contract for a portion of the EuroAsia Interconnector subsea cable, connecting Greece and Cyprus.

Spanish independent power producer (IPP) Opdenergy has secured €128 million (US$143 million) to finance 216MW of solar PV in Spain.

Tesla’s Q2 2023 solar PV deployment decreased 38% year-on-year to 66MW as its battery storage system additions was met with a slight decrease from the previous quarter.

Modus Asset Management has taken owership of a of a 55MW ground-mounted solar PV portfolio in Latvia from renewables developer Evecon, through its Clean Energy Infrastructure Fund.

Swedish state-owned utility Vattenfall has acquired German solar developer Solizer and its PV portfolio of 4GW of projects in Germany.

UAE state-owned renewable energy developer Masdar has launched its first US$750 million 10-year green bond, with the proceeds to be invested in renewables, including solar and wind projects.

There are currently over 40GW of Chinese-made solar modules in storage across Europe with a cumulative value of around €7 billion (US$7.8 billion), according to data from research firm Rystad Energy.

The Interstate Renewable Energy Council has revealed a 3.5% growth in the number of jobs in the US solar sector between 2021 and 2022.

Complexul Energetic Oltenia has signed contracts with two Romanian power companies to build solar projects with a combined capacity of 735MW.