Firm was in talks last year with private equity and strategic suitors but has now opted to divest its Tempress business to a newly-created Dutch entity, naming a new group CEO in the process.
New affiliate Cardinal Renewables will acquire solar projects that venture partner Alchemy Renewables will then manage, operate, maintain and place tax equity financing for.
Project in Sardinia (5MW) emerges as sole PV winner of 500MW auction dominated by wind power (495MW) but industry representatives believe solar future is subsidy-free.
Think tank warns in pre-budget submission paper that government agency – which has no funding beyond 2021-2022 – will run out of money for new projects by mid-2020.
Major polysilicon producer Wacker Chemie has reported preliminary full-year 2019 financial results, highlighting higher than previously guided asset impairment charges on its polysilicon division as ASPs (Average Selling Price) remain at record lows leading to an EBITDA loss of €55 million.
New PV and wind could outcompete most existing fossil fuel capacity by 2025, outfit predicts as it lays out timetable for the 5.8GW renewable project backlog it amassed last year.
Renewables, energy storage and grid assets are all being considered as top investor bags institutional backing for FEIP fund from the EIB and other investors.
