Portugal's latest solar auction made headlines earlier this month as record-low negative bids were posted, with the results illustrating the value developers place on securing a grid connection and the strong potential they see in hybridising renewables assets.
Portuguese developer Madoqua Renewables has partnered with Dutch developer Power2X and Danish investment firm Copenhagen Infrastructure Partners (CIP) to build a green hydrogen and ammonia project in Portugal with an investment of €1 billion (US$1.07 billion).
Portugal’s first floating solar auction closed with a world record-low price, with utilities EDP and Endesa among the winning bidders, the country’s environment ministry has announced.
Portugal will aim to increase the share of renewables in electricity production to 80% by 2026, four years earlier than previously planned, its new government announced ahead of the country’s latest solar auction.
Spain is to fast-track solar PV projects with generation capacities of up to 150MW as part of a suite of measures the country has enacted to help ease an energy crisis affecting the country.
Solar players in Europe have called for efforts to accelerate renewables deployment and unlock more corporate power purchase agreement (PPA) volumes in light of the European Union’s (EU) push for more energy independence following Russia’s invasion of Ukraine. Jules Scully hears from them directly.
Portugal will stop requiring environmental impact assessments for new solar projects with a capacity of under 50MW as part of government efforts to accelerate PV deployment.
Solar deployment in Iberia is being held back by planning and permitting and regulations unfit for the emerging energy paradigm and European Commission intervention may be necessary, a panel of investors has concluded.
Norwegian start-up Otovo has secured NOK 300 million (US$33.7 million) through a private placement to support the expansion of its solar marketplace into six new European countries.
The European Investment Bank (EIB) will support the addition of 430MW of solar PV and wind in Spain and Portugal through a €100 million (US$114 million) financing deal.
