power prices

Fluctuations in the price of power should not dissuade investment in renewable power projects, according to speakers at this morning's event.

Germany has granted approval to 2.2GW of ground-mounted solar projects in its latest round of auctions, up from 1.6GW in the previous round.

Iberdrola has recorded strong performances from its international assets, mainly the US and Brazil, driving its net profit up in Q1-Q3 2022.

The CEOs of companies such as First Solar, BayWa r.e. and Meyer Burger have written to the European Commission (EC) to call for urgent action to support the redevelopment of European PV manufacturing.

Maxeon Solar Technologies has shut down a PV module manufacturing plant in France, citing a challenging price environment.

Around 35GW of PV manufacturing in Europe is at risk of being mothballed as elevated power prices damage the continent’s efforts to build a solar supply chain, research from Rystad Energy suggests.

LONGi Solar has warned of reduced profits after Yunnan Province, where a significant portion of its manufacturing output resides, cancelled a previously-struck power pricing agreement.

Spanish utility Iberdrola has expanded its investment in renewables and smart grid projects to €7.03 billion (US$8.15 billion) but its net profit suffered, falling 10.2% to €2.4 billion (US$2.78 billion), according to its recent financial results for 2021 release today.  

Average winning solar bids in Spain’s renewables auction this week came in above those for wind as interest among PV bidders faltered against a backdrop of rising equipment costs and regulatory uncertainty.