colocation

As solar PV continues to grow globally, the technology is set to become the largest contributor to the world’s electricity mix from 2031, according to a report from technical and safety expert DNV.

SECI is inviting bids for 4,800MWh of firm and dispatchable renewable energy capacity supported by co-located energy storage systems. 

French utility Engie will invest close to €100 million (US$114 million) in a 155MW solar PV project at its Castelnou power station. 

The insurance market will need to evolve its underwriting approaches to keep pace with the rapid growth of co-located renewable energy projects, according to a new report.

Price is the main barrier to PPAs being transacted in the UK market today, a panel at the Renewable Procurement and Revenue Summit said.

Industry leaders warn that hybridising PV with batteries is now essential to secure revenue, manage volatility, and maintain investor value.

"Asset owners may face costs not only for the damage to the affected asset, but also for any damage to the nearby asset if the fire spreads."

The UK and the Ireland I-SEM are also top markets for renewables and battery energy storage systems (BESS) co-location in Europe.

Switzerland-based institutional investment group SUSI Partners has entered a development deal for two large-scale solar-plus-storage hybrid power plants in Chile.

Utility Colbún has inaugurated a solar-plus-storage project with a 32MWh battery energy storage system in the Atacama region of Chile.