Shanghai Electric, Eland target European solar with new €500m joint venture

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Tayan Energy.

Investor Eland Private Equity and Chinese manufacturer and EPC Shanghai Electric have set sights on Europe’s thriving PV market, forming a new joint-venture which they claim will plough some €500 million (US$556 million) into new assets.

The two parties have unveiled Tayan Energy, a JV which currently lays claim to a 2GW pipeline of solar PV projects predominantly located in Spain.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Those projects, as well as other solar and energy storage projects throughout Europe, will be Tayan’s primary focus for the next three years.

The company is to be based out of Madrid and Miguel Domenech, partner at Eland Private Equity, said that the partnership made “complete sense” given the role Chinese companies play in the global solar industry.

Shanghai Electric has formed subsidiaries in both Spain and the UK to target solar markets of note, and their chief executive Andrew MacDonald said the strategy was simple – to develop, build and operate solar assets throughout Europe.

“Shanghai Electric have demonstrated a serious commitment to becoming a global player in renewable energy and have now made a substantial commitment with this entry into the European solar market,” he said.

While Eland has been relatively quiet on the solar front – last seen assisting on solar projects in Spain back in 2015 – Shanghai Electric’s standing in several of solar’s hottest markets continues to rise.

The firm is acting as EPC for a 900MW tranche of Dubai’s Mohammed bin Rashid al-Maktoum Solar Park and is also attached to notable projects in Australia and Latin America.

The deal also adds to other partnerships Shanghai Electric has formed this year, including the prolific renewables developer ACWA Power and UK-based developer Hive Energy.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

October 7, 2025
Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 7, 2025
US independent power producer (IPP) Arevon has begun operations at two utility-scale solar projects in Indiana.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland