German agriculture group BayWa has said its renewables business saw an “unusually strong” start to the year, driven by high demand for solar modules and the sale of a PV plant in Japan.
A round-up of project updates from the US, including progress from EDF Renewables in New York, LS Power's country-wide project acquisition, and a string of investments from Dominion Energy Virginia.
Companies are purchasing solar, wind, and other forms of renewable energy more than ever before. The power purchase agreement (PPA) market in Europe has grown to a cumulative capacity of over 12GW, with a record 4GW signed in 2020. Corporate climate commitments are opening doors for investment in renewable energy, and continued price declines are convincing companies to sign new contracts. Is the European market ready to fulfil its potential? By Dr. Mercè Labordena, senior policy advisor at SolarPower Europe, and Milena Koot, communications advisor at SolarPower Europe
Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant.
Ingka Group, a retailer that runs the majority of IKEA stores, has allocated an additional €4 billion (US$4.8 billion) to invest in solar and wind plants.
Small-scale solar specialist CleanCapital has secured a US$300 million investment from Manulife Investment Management to help grow its asset portfolio.
Asset manager Capital Dynamics will develop a 200MW solar farm for US utility Northern Indiana Public Service Company (NIPSCO) as it works towards its decarbonisation targets.
As the market moves away from power purchase agreements, the possibility for a new breed of investors comfortable with market risk is emerging alongside the potential for some larger investors to bring trading in-house.
