Global investment manager CarVal has invested €100 million (US$107 million) in Swedish solar company Svea Solar to support its expansion of utility-scale solar plants in Europe.
Danish energy company Ørsted is establishing an onshore renewables business in Spain as it looks to participate in the country’s auctions and develop solar, wind and energy storage projects.
High power prices in Europe may be obscuring the impacts of price cannibalisation that threatens the future profitability of renewable energy on the continent, with a ‘belt of doom’ observed in Germany and Spain at risk of 30% cannibalisation rates by 2030.
With President Biden declaring a two-year freeze on new tariffs on solar imports from Southeast Asia, questions have been raised about the legality of the move as industry stakeholders assess the risk of it being challenged in court.
Solar developer ReneSola Power is looking to expand into further European markets after slowdowns in the US and China contributed to a revenue collapse in its opening quarter.
The US Department of Energy (DOE) has launched an initiative to ease the US’ massive interconnection queues, reduce wait times and lower grid connection costs as it strives to unlock the huge amount of bulk power currently sat dormant in the US.
The US solar market experienced its worst quarter for installations since the start of the pandemic in Q1 2022, weighed down by regulatory and supply chain issues.
EDF Renewables is aiming to collaborate with academic partners to explore the positive impacts utility-scale solar projects have on biodiversity, soil health and farmland management in the UK.
Timo Moeller, president of International NovaSource Power Services and head of NovaSource in Europe, stresses the need for the industry to entrust experts at every step of the project lifecycle, or risk deterring investment.
