Markets & Finance

In the final days of 2024, PV Tech is looking back at the stories that dominated the headlines in each quarter of the year.

EDP has secured €700 million in loans from the European Investment Bank (EIB) to support the development of over 1.9GW of renewable energy capacity

Renewable energy is now a competitive alternative to fossil fuels, and more than 800 coal plants in smaller economies could be replaced by PV.

Unlike the price ceiling for wind, which has not changed compared to 2024, all three auctions involving solar PV have been revised down to take into account the decrease in the forecast levelised cost of electricity, said the Bundesnetzagentur.

French independent power producer (IPP) Neoen has secured AU$1.4 billion (US$890 million) in capital to fuel new solar PV, wind and energy storage projects in Australia.

The sale of the three phases represents 23% of the capacity of the Oasis de Atacama solar-plus-storage project.

The deal will cover power generated at two DESRI facilities in the US, a 250MW project in Missouri and a 150MW project in Texas.

Approved under the State aid Temporary Crisis and Transition Framework (TCTF), the scheme aims to support the construction of new solar PV, onshore wind, hydropower for a combined 17.65GW of renewable capacity.

Overall, Germany (with 16.1GW added in 2024) continues to be the most important market in the European Union for solar PV, followed by Spain (9.3GW) and Italy (6.4GW).

A paper published by the ESMC Working Group praises the NZIA but says there are gaps which need to be filled.