offtake

Many of the mechanisms used to manage the finances of the solar sector have not kept pace with the rate of capacity additions.

US technology giant Microsoft has signed virtual power purchase agreements (VPPAs) for 389MW of solar capacity with EDP Renewables.

The deal will cover power generated at two DESRI facilities in the US, a 250MW project in Missouri and a 150MW project in Texas.

Magdalena Hilgner of PLAY explains that projects that deliver power reliably and at a fair price will always be attractive for offtakers.

South Korea has launched a tender for fixed-price solar and wind projects, looking for 2.8GW of new renewable power capacity.

Panama’s national secretary of energy has launched its first bidding auction exclusively for renewables and energy storage.

Spanish developer Grenergy has signed a 12-year power purchase agreement (PPA) for its Gran Teno solar park in Chile.

Project developer Solar Philippines has submitted offers to contract output from 10GW of PV plants currently under development.

Developer signs 25-year agreement with retailer Boulanger Group for first 5MW of solar PV, with plans to add further renewable plants in the future.

India’s Ministry of New and Renewable Energy (MNRE) has released a document clarifying the rules for state government offtake of solar park capacity, while the World Bank plans to provide US$100 million for solar park infrastructure.