The European Bank for Reconstruction and Development (EBRD) has subscribed to €28.3 million (US$33.1 million) in bonds issued by Greece-headquartered oil firm Hellenic Petroleum to help it diversify into renewables, starting with a 190MW pipeline of wind and solar PV.
The oil company, one of the largest in the Balkans, has issued €450 million (US$527 million) of bonds in two tranches with the EBRD subscribing to the second tranche of €74.5 million (US$87.2 million) alongside the Black Sea Trade and Development Bank and other investors. The company now joins a long list of traditional fossil fuel companies looking to break into renewables.
Greece recently established competitive auctions instead of feed-in tariffs (FiTs). Hellenic Petroleum's renewables subsidiary, Elpe Renewables, won three PV projects in the first such auction and has more projects in the pipeline.
The EBRD launched its Greek Renewable Energy Framework in March this year. This included a €300 million (US$351 million) facility for financing solar, wind, biomass and geothermal projects and related updates in transmission capacity.
Now in its 7th year, Solar Finance & Investment Europe is firmly established as the must-attend event for solar developers, asset owners and financiers to understand the latest trends and opportunities in the European solar landscape.
Understanding bifacial’s true potential: technology innovation and technical bankability of bifacial
The deployment of bifacial PV technology is growing rapidly. It has proven to be the most effective solution to reduce levelised energy costs (LCOE) and increase the Investment Rate of Return (IRR) of PV systems, offering substantially improved energy yield compared to the use of standard mono-facial modules. Even though the concept is not new, it has been a niche technology for many years with uncertainties in predicting performance and optimizing installations. Today, bifacial technology is becoming mainstream, with capacity available at the multi-gigawatt scale and with corresponding global deployment of project pipelines. Join this webinar, presented by Andrea Viaro, as he discusses the award-winning Swan bifacial module with transparent backsheet from DuPont, its features, benefits and differences vs. standard glass-glass modules. Jinko Solar’s new bifacial technology innovations will also be highlighted, specifically covering profitability in deployment at utility-scale PV power plants. Andrea will be joined by Dr.Lars Podlowski who will give a comprehensive introduction to all aspects of bifacial PV technology, with a special focus on benefits and risks industry buyers and investors should pay attention to.