european solar

Following months of discussion and encouragement from the European solar industry, the EU has announced a multi-pronged scheme to drive renewable energy and clean technology development, with the aim of putting the European market at the forefront of the global energy transition.

Romania has announced a reduction in VAT for solar PV modules to 5% from 19% as of this week to boost self-consumption and solar uptake across the country.

German independent power producer (IPP) ILOS Projects has secured a €500 million (US$531 million) structured finance facility from global energy and infrastructure investor EIG, intended to fund ILOS’s plans for over 2GW of solar and battery storage capacity by 2026.

Plenitude, the renewables subsidiary of oil company Eni, has announced the acquisition of fellow Italian renewable energy company PLT and its assets.

Investment firm Carlyle has launched a new solar-focused renewable energy platform, Telis Energy, aimed at developing projects in key European markets.

Toledo Solar is looking into expanding its manufacturing capacity in Europe, with an initial annual capacity of 400MW of thin-film modules.

Europe solar’s annual capacity will “significantly” increase after the invasion of Ukraine, according to a report from energy giant Stakraft.

The European Parliament has backed plans to increase the European Union’s (EU) renewable targets as it grapples with the fallout of the war in Ukraine and the rampant energy crisis.

Despite “breakthrough” renewables growth across Southeast and Eastern Europe, the Caucasus and Central Asia in recent years, more needs to be done to boost deployment and reduce the region’s reliance on Russian energy imports.

Nearly 40GW of solar PV will be rolled out across Europe by the end of the year, according to SolarPower Europe (SPE), as the continent scrambles to deploy renewables and wean itself off Russian gas.