PROJECT ROUND-UP: Funding for 200MW plant in Egypt; Q CELLS sells Texan solar park

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Adapture Renewables will own and operate the 81MW Rippey Solar plant in Texas. Image: Adapture Renewables.

A round-up of the latest solar project news from around the world, including updates from Hanwha Q CELLS and Capital Dynamics.

Funding secured for 200MW park in Egypt

3 March 2021: The African Development Bank (ADB) has approved US$27.2 million in loan financing for the construction and operation of the 200MW Kom Ombo solar project in Egypt.

With the project’s total cost estimated to be US$156.4 million, ADB said the European Bank for Reconstruction and Development, the Green Climate Fund, Arab Bank and the OPEC Fund for International Development will also contribute funding.

The plant, located 800km south of Cairo, is owned by Saudi Arabia’s ACWA Power, which signed a power purchase agreement with Egypt’s government in 2019 for the project’s development.

As well as touting the park’s potential in helping Egypt reach its 2022 target of 20% of power generation from renewables, ADB said the plant could “greatly contribute to energy trading”, given that Egypt’s grid is linked to those of its neighbours Libya and Sudan.

“We are delighted to support this project that will deliver one of the lowest generation tariffs on the continent,” said Kevin Kariuki, ADB vice president for power, energy, climate and green growth.

Q CELLS sells 81MW Texan project

2 March 2021: Hanwha Q CELLS USA has sold an 81MW PV park in Texas to US solar developer and operator Adapture Renewables.

Q CELLS was both the developer and engineering, procurement, and construction (EPC) manager of Rippey Solar, which features the firm’s Q.PEAK DUO L-G8.3 and L-G8.2 modules. Construction of the plant, located 90 miles north of Dallas, began last April, with commercial operation achieved in December.

Having financed the installation with in-house capital, Adapture Renewables will own and operate the project for the long-term. The acquisition takes the California-based company’s solar capacity up to 239MW.

Capital Dynamics buys Spanish solar plant

3 March 2021: The Clean Energy Infrastructure unit of asset management firm Capital Dynamics has acquired a 50MW solar project in Spain from renewables developer WElink Group.

Construction of the subsidy-free Puerto Real 2 plant is slated to begin this month, with commercial operations expected to be reached in the first quarter of 2022.

Located in the Andalucía region, the plant will benefit from the existing infrastructure in place from the 133MW Puerto Real 1 project, which Capital Dynamics acquired from WElink in March 2020.

Once the newly acquired park is operational, Capital Dynamics will have invested in more than 480MW of subsidy-free PV projects in Spain.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

June 18, 2021
Lightsource BP has added 703MW to its Spanish pipeline through the acquisition of projects from Grupo Jorge, bringing its total pipeline in Spain to 3GW.
June 18, 2021
Diode Ventures has announced financial close of its Grizzly Ridge Solar Project, a utility-scale solar project with 138MWdc capacity which will serve the ERCOT North Zone in Texas.
June 16, 2021
EQT infrastructure has announced a takeover bid for Solarpack, which owns approximately 450MW of operational solar PV projects.
June 15, 2021
The US installed more than 5GWdc of solar capacity in Q1 2021, taking its cumulative capacity past the 100GW barrier, but supply chain constraints could pose a major barrier to further growth.
June 15, 2021
The confidence of renewable energy investors and developers stands at an “all-time high”, a new report by the American Council on Renewable Energy (ACORE) claims, however investment must surge in the coming years if the US is to meet decarbonisation goals.
June 15, 2021
Everwood Capital and the Prodiel Group have combined to create DVP Solar, a joint-venture (JV) focused on developing large-scale international photovoltaic projects, with gigawatts at various stages of development.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021