Everything seems to be pointing to the solar PV manufacturing sector going into a downturn in 2024, with loss-making potentially rife across much of the upstream sector.
Solar project developer and asset owner Photon Energy Group has posted reduced revenues and EBITDA in its financial results for the first nine months of 2023, which the company attributed to “lower realised electricity prices and a slow-down in PV components trading”.
In October, Turkish energy minister Alparslan Bayraktar said Turkey will need to install 5GW of solar and wind capacity every year until 2035, as renewables have great potential to meet the 2035 target of ‘supplying reliable and affordable energy in an environmentally friendly manner’.
Poland boasted 18GW of solar PV projects with grid connection approvals issued as of the end of the third quarter of 2023, according to Polish research group Institute for Renewable Energy (IEO).
French energy giant TotalEnergies and Spanish solar tracker manufacturer have received construction authorisation for a 200MW solar PV project in Murcia, Spain.
Spanish developer Matrix Renewables has signed a 10-year 102MW solar PV virtual power purchase agreements in Spain with science and technology company Merck.
European electric vehicle infrastructure company Allego has signed two ten-year power purchase agreements (PPA) for a total of 100GWh of annual power output. The deals are linked with a solar PV and a wind generation project.
