Europe

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.

The subsidiary of German solar and wind operator raised €450 million (US$543.2 million) from 50 institutional investors.

In this round-up of project news, Lightsource BP unveils the completion of 260MW of solar in Texas, plans for 203MW in Poland are revealed by Respect Energy and Infrastructure and Energy Alternatives is selected as EPC for a Silicon Ranch asset.

Danish developer raises EBITDA forecast for 2020 and predicts €50 million (US$60.3 million) in pre-tax profits by year-end.