Europe

For the first time in two years, European solar power purchase agreements (PPAs) have dropped during the first quarter of 2023.

The fund has already started to deploy capital in support of this programme, including its first asset acquisitions in January 2023.

The EU has announced a request for proposals (RFP) for a 400MW solar PV tender for projects in Finland, with financing for the tender voluntarily provided by Luxembourg. It is the first cross-border renewable energy tender ever proposed in Europe.

Ascent Solar can use the new European presence to provide in-region support for EU driven net zero initiatives after the acquisition.

Innovative power purchase agreement structures enable solar asset owners to boost returns and leverage their positions while providing offtakers with the opportunity to protect against increasing electricity prices and enhance their decarbonisation efforts.

Globally, 32% of business leaders estimated that their country will fully transition to renewables after 2050, while 8% said it would never happen.

Solar developer OX2 has acquired the project rights to a 475MW solar PV project in Finland from Finnish PV developer SAJM Holding Oy.

Spanish utility Iberdrola has installed more than 4.5GW of solar PV capacity across the markets it operates due to new capacity added in Australia, Spain and Brazil in the first quarter of 2023.

Solar PV manufacturer Astronergy has signed a deal with Romanian energy company EXIMPROD Grup to supply 200MW worth of its PV modules to the group’s pipeline of five solar projects.

Procuring power purchase agreement tools will be an option for industry players amid an energy pricing crisis and volatility.