The so-called ‘king of electricity markets’ is rapidly approaching an inflexion point, wherein solar PV will become the most prolific source of new-build power this decade. However to pave the way, numerous hurdles in the technological, manufacturing, O&M and grid fields will need to be surpassed. Liam Stoker, Jules Scully and Sean Rai Roche discover solar’s 2030 blueprint.
The US and China will account for a combined 57% of total forecasted solar capacity additions through 2030, with the countries adding 151.3GW and 436.9GW of solar capacity, respectively. Both countries have risks to this development, however, with the US needing to overcome trade and tariff problems, while China needs to ensure the reliability of PV production
Saudi solar developer ACWA Power has signed a memorandum of understanding (MoU) with Natixis Corporate & Investment Banking (Natixis CIB) that will see the partners explore opportunities to develop projects, including renewable energy plants.
Global solar PV deployment is on track to grow by 17% this year in spite of surging commodity prices increasing manufacturing costs, according to the International Energy Agency (IEA).
A round-up of the latest project news from across the world, including Masdar’s plans to develop solar in Armenia, TotalEnergies completing its largest project in France and Shikun & Binui expanding its US energy portfolio.
Mainstream Renewable Power has secured €90 million (US$101.6 million) in equity funding to support the build-out of a multi-gigawatt pipeline across Latin America, Africa and the Asia Pacific region
The South African mining industry is planning to build 3.9GW of renewable projects and storage that would see the sector make strides towards meeting its 2050 net zero target and relieve pressure on South African public utility Eskom, which has called on the industry to supplement its energy supply
French energy giant TotalEnergies has won new contracts in Libya that include the development of a 500MW solar PV project, although it will also see the company pour US$2 billion into crude oil production and invest in gas extraction
