Home / Metal News / Global Photovoltaic News Briefing:20240129-20240204

Global Photovoltaic News Briefing:20240129-20240204

iconFeb 6, 2024 16:29
(UAE) Indian engineering group Larsen & Toubro will build a 1.8 GW large-scale solar complex in Dubai, which will form part of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. The project scope of work includes the construction of a photovoltaic park, the interconnection of two substations and the installation of high-voltage underground cables and medium-voltage distribution facilities.


(UAE) Indian engineering group Larsen & Toubro will build a 1.8 GW large-scale solar complex in Dubai, which will form part of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. The project scope of work includes the construction of a photovoltaic park, the interconnection of two substations and the installation of high-voltage underground cables and medium-voltage distribution facilities.

(India) Indian state-owned power generation company SJVN has secured a 100 MW solar power project from an auction held by Urja Vikas Nigam Ltd. (GUVNL) in Gujarat at a bid winning price of INR 2.54 (USD 0.031)/kWh. The project development method is "build-own-operate" and the project cost is estimated to be INR 5.5 billion.

(Malaysia) Malaysian clean energy solutions provider Ditrolic Energy Holdings Sdn Bhd has secured a US$673 million (€620.2 million) capital commitment from US investment giant BlackRock. BlackRock will support 1GW of Ditrolic Energy solar projects in Asia Pacific.

North America


1. U.S. agricultural product supplier Global Corporation has signed a power offtake agreement with U.S. clean energy developer Clearway. It will purchase approximately 70,000 MWh of electricity per year from large-scale solar facilities built by Clearway Energy Group in Texas.

2. US solar developer Altus Power Inc has completed the acquisition of a solar park portfolio of approximately 84 MW in the northeastern United States from energy trader Vitol in a transaction valued at US$118 million (€109.4 million). The assets, divided into rooftop arrays, ground arrays and carport arrays, include commercial-scale power plants that provide power to community solar users, school districts, municipalities and corporate customers in New York, New Jersey and Maine.

3. British power solutions provider Aggreko announced that it has acquired a 13 MW solar project site in Texas. The company will build, own and operate the facility under a long-term fixed-price power purchase agreement (PPA).

4. Vesper Energy, a developer, owner and operator of utility-scale renewable energy assets, announced the completion of financing for its Hornet Solar project. The asset will provide renewable energy to Texas communities, provide grid stability and mitigate price volatility on the Texas power grid (ERCOT).


(Australia) Australian renewable energy company Genex Power Ltd has selected a subsidiary of Canadian construction company PCL Constructors as the engineering, procurement and construction contractor for a 775 MW solar park in Queensland, Australia.


(European market) According to the fourth quarter 2023 PPA price index report released by LevelTen Energy, the world's largest power purchase agreement (PPA) market operator, the market average of the 25th percentile (P25) PPA price of wind and solar energy in Europe The hybrid index fell by 2% across Europe, with P25 solar prices down 3% and P25 wind prices down 1%.


1. Greek renewable energy company Faria Renewables SA has been authorized to build 650 MW of wind and solar farms in the country, equipped with energy storage facilities. They cover 17 renewable energy projects, 12 of which envisage the construction of wind farms with a total capacity of 485.7 MW, and 5 photovoltaic (PV) parks with a total capacity of 164.3 MW.

2. The renewable energy arm of Greek power company PPC SA has reached a debt financing agreement for plans to build a 550-megawatt solar complex on a former lignite mine site in Greece’s West Macedonia region. The solar complex will be installed in the cities of Eordaia and Kozani in northwestern Greece and will be equipped with approximately 950,000 bifacial panels covering an area of 10 million square meters. Construction is expected to be completed within 2025.

United Kingdom

1. UK-based renewable energy developer RES has received approval to build a 25MW Varley solar farm project in South Gloucestershire, southwest England, which will be able to generate the equivalent of the annual electricity needs of nearly 10,000 homes. Its design will allow the land to be used for sheep farming, with native trees and hedgerows planted.

2. London-based investment management firm Downing LLP purchased a rooftop solar portfolio from British investor Foresight for approximately £26 million ($32.9 million/€30.4 million). 80% of the portfolio's solar assets are located in the Midlands, Wales and the South West, with the remainder in the north and south east of England. The solar power system is expected to generate 23.6 GWh of electricity per year.

3. UK-based industrial gases and engineering company Linde has signed power purchase agreements (PPA) with Guangdong Energy Group (GEG) and China Three Gorges Corporation (CTG) to purchase a total of 320 GWh of solar energy in China each year. Each agreement has a term of 25 years and will become effective in the first quarter of 2024.


1. Spanish solar solutions company Opengy has launched the construction of a 10.11 MW distributed generation (DG) solar farm in the Madrid Autonomous Region, saying it is the first ground-mounted solar photovoltaic project in the Spanish capital region to be approved to connect to the distribution grid.

2. Spanish clean energy solutions provider Grupo Greening 2022 SA has begun construction of a solar panel material recycling plant in a small town in the southern Spanish province of Granada. The company said it has earmarked 3.6 million euros ($3.9 million) for the project, of which 3 million euros will be used to build the facility and about 600,000 euros for research and development in partnership with the University of Granada. The plant will have an annual recycling capacity of 9,000 tonnes of photovoltaic panels and employ up to 25 staff.

3. Spanish solar producer Solaria Energia y Medio Ambiente SA announced the opening of a new office in Berlin to expand its business in Germany.

4. Spanish solar contractor GRS has extended its operations and maintenance (O&M) contract in Mexico for two years to continue maintaining 110 MW of solar farms in the country on behalf of Mexican asset management company Balam Fund.

(Switzerland) 3S Swiss Solar Solutions AG has opened its second photovoltaic (PV) module production factory in Switzerland and expects to start delivering the first products from the factory at the end of this month. The new plant is located in Worb near the capital Bern, with a total cost of more than 10 million Swiss francs ($11.6 million/€10.7 million). The plant's production capacity is expected to be 250MW, and the plant is expected to be completed within 11 months.


1. French solar power company Corsica Sole announced its plan to install the first green hydrogen production plant on the French island of Corsica in the Mediterranean Sea, and the plan has received approval from relevant authorities. The proposed facility, known as Foll'Hy, will be built in the village of Folelli and will use electricity from the Folelli 12 MWp solar photovoltaic (PV) park and produce green hydrogen through electrolysis. Starting in the first quarter of 2025, its annual production is expected to be approximately 2 tons.

2. French renewable energy company GreenYellow will deliver a 16.28 MW solar power plant to Brazilian energy company Matrix Energia. Under the terms of the contract, GreenYellow will invest in, build and be responsible for the operation and maintenance (O&M) of three photovoltaic (PV) parks in the states of Goiás, Piauí and Ceará according to Brazil’s distributed generation (DG) model.

(Austria) Private equity firm Trilantic Europe has reached an agreement to acquire a 60% stake in Austrian solar installation solutions provider Aerocompact Group. Founded in 2014, Aerocompact develops, manufactures and distributes substructures for mounting photovoltaic modules. The company currently employs approximately 150 people worldwide and has subsidiaries in Austria, Germany, the United States, India and Bulgaria.

(Germany) Centrotherm International AG, a German photovoltaic industry technology and equipment supplier, has signed a contract with US solar cell manufacturer Suniva Inc to provide thermal energy production equipment for Suniva Inc's factory expansion and restart project in Norcross, Georgia. Suniva announced plans to restart production and expand capacity at the Norcross plant in October 2023. The project will be realized in two phases, with the first phase expected to have a production capacity of 1 GW and the second phase targeting 2.5 GW.


1. Poland’s R.Power Renewables has received debt financing from BNP Paribas SA to provide financial support for the construction of a 32.7 MW solar project portfolio in Poland. The debt proceeds will be used for the construction of several photovoltaic projects that R.Power will gradually put into operation this year.

2. German renewable energy service provider Iqony Solar Energy Solutions GmbH (SENS) announced that it has begun developing a portfolio of four solar projects in Poland, with a total power generation capacity of 355 MW. The four ground-mounted facilities will be built around the city of Wroclaw in western Poland. The facilities will be built in partnership with local developer Solar Energy Photovoltaics (SEPV).


1. Danish renewable energy company Better Energy’s 28 MW Krapkowice solar farm in southern Poland has been energized and connected to the grid. The new power plant expands the company's photovoltaic (PV) power plants in Poland to 236 MW. This new power plant expands the company's photovoltaic power plants in Poland to 236 MW.

2. Danish renewable energy company Better Energy announced that it has reached a "three-digit million Danish kroner" financing agreement with fellow bank Jyske Bank to support a domestic 200MW solar park portfolio. The loan will be used for the construction of three photovoltaic power plants as part of Better Energy's partnership with domestic pension fund Industriens Pension to deploy 1 gigawatt of solar power in three European countries.

(Romania) The European Bank for Reconstruction and Development (EBRD) is considering a loan of up to 55 million euros ($59.4 million) to support the construction of a 315 MW solar park in Romania.

(Sweden) Danish solar company Nordic Solar A/S has started construction of a 22 MW solar power plant in Sweden, the company's first such power plant in Sweden. The new solar farm, called Lindesberg, will be located near the town named after Lindesberg in southern Sweden. The project covers an area of 44 hectares (108.7 acres) and will install more than 31,000 tracker system modules. Nordic Solar said the facility is expected to be connected to the grid in the third quarter of 2024.

(Ireland) Investment firm Octopus Renewables Infrastructure Trust plc said it has secured acquisitions of four new-build solar farms in Ireland with a total capacity of 199 MW for a total of €160 million ($174 million).


(South Africa) South African real estate trust Growthpoint Properties Limited has reached an agreement to purchase 195 GWh of renewable energy, including wind and solar, annually from domestic clean power trader Etana Energy.

(Namibia) Renewable energy developers Solarcentury Africa and SolNam Energy Pty Ltd have secured a renewed generation license from the Namibia Electricity Control Board (ECB) to build the 60MW SolNam solar project in the south of the country. The two companies signed a joint development agreement in early 2023 to jointly develop the commercial project. The project has received an environmental approval certificate and is scheduled to reach financial close this year. The project will mainly supply electricity to Namibian customers.

Market review

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news