Renewables developer Econergy Renewable Energy has finalised a €150 million (US$157.7 million) loan agreement with Phoenix Insurance to support its pipeline of solar PV projects in Romania and Poland.
In early December, the Dutch government announced a €130/MWh revenue cap on solar and wind generation. The decision to lower the cap draws eyes, and potentially spells trouble for the country that installed Europe’s fourth largest solar capacity in 2022.
The share of renewables in net electricity generation in Germany nearly accounted for half of total power generation in 2022 with 49.6%, according to the Fraunhofer Institute for Solar Energy Systems (ISE).
As Europe struggles to build a domestic solar manufacturing industry, start-up Swedish Algae Factory is working on improving the efficiency of solar panels with a coating product that only needs to be applied once and is made in an eco-friendly environment.
Israel-headquartered smart energy technology company SolarEdge has acquired the entire share capital of UK-based Hark Systems, an energy analytics and internet-of-things (IoT) company. SolarEdge said that the acquisition will enable it to offer its corporate and industrial (C&I) customers increased capacity to manage their energy assets.
The renewable energy arm of German industrial conglomerate Baywa Group has sold three solar plants in Spain with a total capacity of 115MW to L&G NTR Clean Power Fund, a new vehicle managed by Legal & General Investment Management and asset manager NTR.
The German Federal Network Agency, the Bundesnetzagentur, has raised the maximum tariff for solar and wind energy ahead of its 2023 tenders for renewables projects. The agency said that it hopes the raised tariffs will lead to an increase in bids for renewables projects after the process saw underwhelming results in 2022.
