Europe

Danish renewables firm European Energy has secured €68 million (US$73.4 million) in financing for a 148MWp solar PV plant in Latvia.

The company said its Full Black double-glass module, based on n-type TOPcon cell technology, has a conversion efficiency of 22.8%.

Europe’s solar manufacturing sector heavily favours downstream products such as cells and modules, according to SolarPower Europe.

The move is an effort to strengthen its financial position after reporting losses of €126 million in the first half of 2024.

SolarPower Europe has launched the International Solar Manufacturing Initiative (ISMI) to generate demand for European-made solar products.

SMA Solar posted preliminary net losses of €117.7 million (US$126 million) in 2024—down from €225.7 million in income last year.

Europe’s solar buyers are showing increased optimism for the sector, in spite of fluctuations in module prices across technologies.

Ellomay Capital has closed financing for a 198MW portfolio of solar assets it plans to build and operate in Italy.

Australia-based solar module recycling group Lotus Energy has confirmed it will build a US$250 million recycling facility in Saxony, Germany.

Tech and retail giant Amazon has secured 870MW of solar PV and wind power purchase agreements (PPAs) in Spain.