Solar electricity generation in the EU grew significantly last year thanks to a rise in adoption in major countries, according to a study conducted by energy think tank Ember.
Polish renewable energy investor Lewandpol Group has secured a loan agreement worth zł 90 million (US$20.7 million) for a 200MW solar and wind energy project in the country.
Spanish utility Iberdrola has received environmental approval for the construction of Europe’s largest solar PV plant in Portugal, with a capacity of 1.2GW.
Energy giant Statkraft has received environmental permits for the construction of 613MW of solar PV projects in the Spanish regions of Murcia and León.
Greek transmission system operator Independent Power Transmission Operator (IPTO) has signed a long-term loan agreement with the European Investment Bank (EIB) to finance a power connector between mainland Greece and outlying islands.
Renewable energy, such as wind and solar, is expected to dominate power generation out to 2050 thanks to the continuing cost competitiveness and the adoption of these sources into the power systems. However, significant acceleration in financing and building new capacity remains the challenge to continue the growth, according to the latest edition of bp’s Energy Outlook.
Investment in the global energy transition totaled US$1.1 trillion in 2022 according to analyst firm BloombergNEF, reaching parity with investment in fossil fuels for the first time ever.
Norwegian distributed solar marketplace Otovo has secured €120 million (US$130 million) in debt and equity financing to expand its residential solar portfolio across Europe.
