Pan-European secondary solar market set for ‘exciting times’

Facebook
Twitter
LinkedIn
Reddit
Email
Source: Solar Media.

The continued growth of the secondary solar market on a pan-European scale will result in “exciting times” for the sector, but big utilities are unlikely to stay on the sidelines.

Those were the conclusions from this morning’s opening plenary session at the Solar Finance and Investment Conference held in London, which discussed the health of secondary solar markets throughout Europe. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Lee Moscovitch, partner at Greencoat Capital, said that despite a retraction in the number of opportunities relating to subsidised built assets throughout Europe, secondary markets continue to grow and are “very healthy on a pan-European basis”, indicating it to be an “exciting time” to be in PV.

Moscovitch's sentiments were echoed by Octopus Investment’s Chris Gaydon, who said that asset holders were currently taking advantage of a lot of opportunities to squeeze value from their portfolios, including economies of scale benefits in asset management, increased buying power when negotiating power purchase agreements and larger project refinancing packages helping to improve portfolio economics. 

Last year Octopus celebrated completing what remains Europe’s largest solar refinancing package, standing at £564 million (US$743 million). 

A poll of delegates found that a majority of 55% considered Spain to be the hottest secondary market for the year ahead, leading Italy (18%) and the UK (16%). Moscovitch, whose fund is bound to invest solely in UK-based assets, remarked that one Spanish tender had received more than 50 expressions of interest, indicating the scale of appetite for solar in the country. 

Aldo Beolchini, managing partner at NextEnergy Capital, suggested investors “may have very short memories” to place the Spain and Italy PV markets so high on their agendas, alluding to sweeping regulatory uncertainty in those countries.

The secondary solar market, particularly in the UK, continues to attract a multitude of investors and an increase in investment from institutional funds has been one of the must-watch trends. A significant majority of the audience at this morning’s session – some 70% – said institutional investment would be the largest contributor to the built solar asset market in 2019. 

However, the results of the poll attracted questioning from Gaydon, who said it was surprising to see corporate entities such as oil and gas majors and energy utilities expected to take a back seat. 

“Oil and gas companies aren’t going to sit around while renewables cannibalise their profits,” he said, alluding to continued interest in the solar space from the likes of Shell, BP, Orsted and Vattenfall.

Limited tickets for this week's Solar Finance and Investment Conference remain available and can be purchased here or by calling 0207 871 0122 and asking for Will/Tony.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

August 8, 2025
This week several solar developers have raised funds for projects around the world, including BRUC in Europe, Greenalia in the US, Qair in Mauritius and CREC in Philippines.
August 8, 2025
German solar inverter manufacturer SMA Solar posted losses in the first half of 2025, as demand in the residential and corporate & industrial (C&I) solar sectors 'remains weak'.
August 8, 2025
US solar tracker manufacturer Array Technologies has posted revenue of US$362.2 million in the second quarter of this year.
August 8, 2025
German renewable energy developer ib vogt has officially broken ground on a 99MWp solar PV power plant in South Cotabato, the Philippines.
August 7, 2025
US-based floating solar (FPV) developer D3Energy is constructing a 6MW floating solar system in Monroeville – a village in Huron County, Ohio. 
August 7, 2025
Infinity Power has signed two concession agreements with the Government of Côte d'Ivoire for PV projects with a total capacity of 80MWac.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines