Europe

NextEnergy Capital, the London-based solar energy asset manager, has closed the first round of its fifth investment vehicle, NextPower V ESG (NPV ESG) with US$480 million in investment commitments.

Goldbeck Solar and the CEE Group have started operations at their 154.7MW Döllen solar park in the German state of Brandenburg.

The Netherlands will enhance domestic energy production and ramp up building the necessary infrastructure for the energy system, according to its updated National Energy and Climate Plan (NECP).

French energy major TotalEnergies has acquired a combined 208MW of solar PV capacity in Romania from Germany-based renewables developer PNE.

The Dutch government will invest up to €412 million into “circular solar panels” under its National Growth Fund.

The Italian Ministry of the Environment and Energy Security (MASE) has said that it intends 65% of the country’s electricity generation to come from renewable energy by 2030.

AXA has signed a virtual power purchase agreement with Ignis to draw power from the company’s upcoming Spanish solar plant.

Spanish utility Endesa has signed two loans with Instituto de Crédito Oficial (ICO), a Spanish state finance agency, and the European Investment Bank (EIB) worth €500 million to fund solar and wind projects in the country.

Romanian oil and gas producer OMV Petrom has bought a 710MW solar PV portfolio in its home country, which it said will be one of Southeastern Europe’s ‘most significant’ solar projects.

Global demand for solar PV could rise up to 40% in 2023 as favourable economics in the solar sector combine with broad policies like the Inflation Reduction Act (IRA) and REPowerEU schemes.