Europe

Germany has added more than 2.6GW of solar capacity in the first three months of the year, according to The Federal Network Agency (Bundesnetzagentur).

Portuguese utility EDP Renováveis has signed a power purchase agreement (PPA) with consumer goods manufacturing giant Proctor & Gamble.

Spanish renewables developer X-Elio has secured €102 million (US$112 million) for three solar projects in Spain with a total capacity of 147MW.

US-headquartered global renewable energy developer Enfinity Global has signed another power purchase agreement (PPA) with Statkraft for 34GWh of solar energy produced at one of its Italian PV facilities.

Inverter supplier SMA Solar Technology has started the construction of a 20GW inverter factory in Germany expected to be operational in 2025.

The cumulative capacity of installed and commissioned PV increased by more than 25% last year, and reached about 1.2TW by the end of 2022.

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.