Global Photovoltaic News Briefing:20240219-20240225

Asia

(India) Indian photovoltaic module manufacturer Pahal Solar is building a new factory in Gujarat that will more than double its annual production capacity to 1.8 GW. Pahal Solar currently produces monocrystalline PERC and N-type TOPCon cells and modules with power ranges from 3 Wp to 740 Wp.

(Japan) Japanese materials company Proterial Ltd announced that it has put into operation a self-contained solar power station of approximately 10 MW in Saitama Prefecture. The facility is located in the Kumagai District and is centered around the company's Kumagai facility and global research and innovation technology center. The facility has an annual generating capacity of 11.5 million kilowatt-hours and is considered one of the largest on-site self-contained solar power plants in the country.

North America

1. Developers and power plant owners plan to add 62.8 gigawatts of utility-scale power generation capacity in 2024, according to the latest Preliminary Monthly Power Generation Equipment Inventory released by the U.S. Energy Information Administration (EIA). This new capacity would be 55% higher than the 40.4 gigawatts in 2023 (the highest since 2003) and indicates that industry activity will continue to increase. EIA predicts that solar energy will account for the largest share of new capacity in 2024, reaching 58%, followed by battery energy storage, accounting for 23%, and solar energy and battery energy storage will account for 81% of new power generation capacity in the United States.

2. U.S. utility-scale renewable energy developer NorthRenew Energy has sold more than 300 MW of Arco wind and solar projects in southeastern Idaho to PacifiCorp, a subsidiary of Berkshire Hathaway Energy.

3. SunPower, a provider of residential solar technology and energy services, announced that it has secured more than $300 million in project financing commitments from funds managed by Apollo, ATLAS SP Partners and Hannon Armstrong Sustainable Infrastructure Capital. These funds will be disbursed at the time of installation.

4. U.S. renewable energy developer Clearway Energy Group said it has powered a 452-megawatt solar complex in Texas that will provide green power to wireless operator Verizon Communications Inc. The photovoltaic park is located in Kent and consists of 1.1 million panels. The annual power generation can meet the needs of more than 190,000 households.

5. Madrid-based renewable energy platform Matrix Renewables has secured a $283 million (€261.7 million) construction financing and production tax credit (PTC) transfer agreement for its Pleasant Valley Solar project in Idaho, US .

6. US renewable energy developer-operator Arevon Energy Inc said it has secured more than $1 billion (€925.1 million) in financing commitments for its Eland 2 solar-plus-storage project in California. The project will combine a 374 MW solar farm with a 150 MW/600 MWh battery energy storage system (BESS) to increase reliability during peak demand periods.

7. British solar developer Lightsource bp has completed a US$348 million (€320.5 million) financing package for the construction and construction of two utility-scale solar projects (totaling 288 MW DC) in Texas, US. Financial support is provided for operations.

South America

(Brazil)

1. Brazilian company Alupar Investimento SA announced that it has received government approval to put its 61.7 MW Pitombeira solar power plant in Ceará state into commercial operation. The photovoltaic facility is located within the 98.7 MW Energia dos Ventos wind farm in the city of Alacati, with a total cost of BRL 249.5 million (USD 50.3 million/EUR 46.7 million). According to the authorization published by local energy sector regulator Aneel, the solar component of the new hybrid complex consists of 114,000 photovoltaic panels distributed among 14 power generation units.

2. According to a report by Absolar, the local solar energy association in Brazil, solar power currently accounts for 16.8% of Brazil’s total power generation, taking into account large and small power plants. The market has installed 26.3 gigawatts of distributed generation (DG) systems, deploying solar panels on rooftops, facades and small plots of land.

3. Brazilian pharmaceutical company Ache Laboratorios will use the output of domestic renewable energy company Atiaia Renovaveis’ 27.5 MW solar power plant to power part of its production facilities.

(Colombia) Atlas Renewable Energy acquired its first solar project in Colombia, the Shangri-La project in Tolima province. The project, expected to be operational by the end of 2025, will be one of the largest solar power plants in Colombia and the largest solar asset in the Tolima region. The project will generate approximately 403.7 GWh of electricity per year, which is equivalent to providing clean renewable energy to more than 214,000 Colombian households per year and reducing nearly 162,000 tons of carbon dioxide per year.

Europe

(Spain)

1. Spanish renewable energy project developer Greenalia SA has secured a financing loan of approximately US$200 million (€185.6 million) to support the further development of its 3 gigawatt wind and solar photovoltaic portfolio in the United States.

2. Spanish energy giant Iberdrola has joined forces with photovoltaic module manufacturer Exiom Solution to build a factory in northern Spain. The company has made an initial investment of €20 million ($21.3 million) and expects to the facility in commercial operation by the end of 2024.

3. French energy group TotalEnergies SE reached an agreement with developer Synergia to acquire the 59MW Dehesa Nueva del Rey solar park in Spain from developer Synergia.

(Germany) A long-term power purchase agreement (PPA) between American aluminum company Novelis Inc and Norwegian renewable energy company Statkraft will provide green electricity to two production facilities in Germany. The 10-year contract will cover up to 40% of the electricity needs of Novelis' two main manufacturing plants in Germany: the Nachterstedt recycling plant and the Nachterstedt rolling mill.

(Lithuania) Lithuanian utility company Ignitis Group is preparing to start construction work on a solar project in Latvia this quarter, with a total installed capacity of 239 MW. The project portfolio consists of three separate power generation facilities and is said to be the largest of its kind in the Baltic States.

(Romania) Silcotub SA, a Romanian steel pipe manufacturer owned by Luxembourg-based Tenaris, said it has launched a solar power project with a power generation capacity of 19.8 MW/21.2 MW. The solar facilities will be installed on two adjacent plots of land owned by the company in Calarasi, southeastern Romania. Once completed, it is expected to generate 30,713 megawatt hours of renewable electricity per year, or more than 614,000 megawatt hours over 20 years. The company estimates that the solar installation will reduce greenhouse gas emissions by 18,971 tons of carbon dioxide equivalent per year.

(Portugal) Portugal’s Competition Authority (AdC) has approved the purchase of a 17 MW solar array by Portuguese power group EDP Energias de Portugal SA. The acquired project consists of 18 small solar power installations, each with a maximum installed capacity of 1 MW.

(Netherlands) European fast charging company Fastned has signed its first multi-year corporate power purchase agreement (CPPA) in the Netherlands with clean energy company GLP Clean Energy. Fastned will purchase electricity generated from solar panels on the roof of GLP's distribution center in Zevenaar, Gelderland, at a fixed price. The solar park is one of the largest in Europe, covering an area of 16 football fields. It will provide Fastned with 15 gigawatt hours of electricity per year for charging electric vehicles at fast charging stations in the Netherlands.

(Italy) According to the latest statistics from Italian solar energy association Italia Solare, Italy installed 5.23 GW of new solar in 2023, taking its cumulative installed photovoltaic capacity to 30.28 GW by December 2023, distributed among 1,594,974 installations.

(Sweden) French operator Valorem has reached a cooperation with Swedish renewable energy company Tribrid Renewables to develop 1GW of wind and solar projects in the country.

(UK) The UK arm of French electricity company EDF has acquired Contact Solar, a solar panel and battery installation company based in Chorley, northwest England.

Africa

(Egypt) Egypt’s Minister of Petroleum stated at the “Shaping a pragmatic and realistic energy future” forum that Egypt is preparing to increase its 2030 renewable energy target in the energy mix from the current 42% to 60%.