Europe

The rapid scale-up of solar capacity in the European Union drove the growth of renewable electricity generation, which overtook that of fossil fuels for the first time last year.

European renewables PPAs could exceed 10GW of capacity by year-end, driven by growth in Spanish solar market.

Iberdrola has signed a power purchase agreement (PPA) to sell electricity from what is claims will be Europe’s largest PV plant to French food group Danone.

European Union funding has been secured for a floating solar pilot project in Spain to explore how the technology performs in challenging sea conditions.

Solar is now cheapest form of new electricity in a host of international markets, driven by cost reductions and growth of bifaciality, large-area solar modules and trackers.

Lightsource BP has announced its largest European acquisition to date, purchasing a 1,060MW solar project portfolio in Spain from developer RIC Energy.

Solar energy leads global energy transition investments for 2020, rising by 12% to US$148.6 billion.

In this project round-up, NextEnergy makes acquisitions in Portugal and Chile and BayWa r.e. sells two solar sites in Malaysia to local power producer reNIKOLA Sdn Bhd.

Renewable energy fund manager Glennmont Partners has been acquired by global investment manager Nuveen.

Norwegian investment company Aker Horizons has acquired a 75% interest in Mainstream Renewable Power, valuing the solar and wind project developer at €1 billion.