Month: September 2022

                NextEnergy subsidiary Starlight has increased its global pipeline of renewable energy projects, following entry into Canada and Romania. Across both jurisdictions Starlight is targeting development of 1.75GW of solar capacity and is aiming to develop 1GW in Canada and 750MW in Romania over the next five years.  Across both markets it has secured land rights and preliminary connection terms for 435MW of solar assets with 450MW under assessment and further negotiations on grid connections and land rights underway. Starlight has also expanded into new renewable technologies for the NextEnergy Group, including battery energy storage systems (both co-located with solar and standalone), in countries where it already has a presence.  The pipeline for these technologies already includes 120MW of onshore wind, out of a target of 400MW, and 1.6GW of offshore wind in Italy across two projects, as well as 3.4GW of battery energy storage systems, in the UK and in Italy, all under development. The Starlight solar pipeline has now reached 3.1GW. In total Starlight has reached an identified gross pipeline of 8.3GW under development, spread across four technologies, greater than its initial pipeline target of 5GW, and is now targeting a renewable energy development pipeline of 10GW. The platform is active in five jurisdictions (UK, Italy, Greece, Romania, and Canada) and plans to expand into additional geographies shortly, that may include the US, Germany, Chile, Poland and India. The team driving Starlight continues to expand rapidly, in both skillset and regional background, and now accounts for over 35 people. Aldo Beolchini, Managing Partner and Chief Investment Officer, NextEnergy Group, said: “At NextEnergy Group we believe renewables are key to the transition to more sustainable, independent and resilient energy systems worldwide. “Through Starlight’s increased commitment to develop 10GW of projects worldwide, we seek to support the countries in which we operate in speeding up their transition away from carbon emitting sources to a clean and secure energy supply. “The Starlight team has the right skillset to successfully convert the secured pipeline into ready-to-build assets, across multiple geographies and renewable energy technologies.”

Credits: renews.biz/ [Image: NextEnergy]

              Solar Energy UK and environmental organisations have written to the Prime Minister Liz Truss asking her to support solar farms. In an open letter published today, Solar Energy UK and 18 other organisations highlight how solar farms are a crucial part of the solution to the energy and cost of living crisis. The letter responds to comments made over the summer by the Prime Minister that solar farms are “paraphernalia”, claiming that they a threat to UK food supply. However, according to the letter, British solar power and agriculture have gone hand in hand since the beginning of the UK solar industry. Farmers benefit from both rooftop installations and ground-mounted solar farm projects, says the letter, noting that the solar industry works closely with farmers and landowners on their solar projects. There are many benefits to solar farms, which help defend UK and global food supply by addressing climate change. According to Defra, the government’s department for food and rural affairs, this constitutes the greatest threat to domestic food security. Solar farms can provide an additional income stream for farmers, keeping their businesses profitable despite the cost-of-living crisis, while also delivering significant local environmental benefits. Well designed and well-maintained solar farms have been shown to support thriving wildlife habitats, providing a range of biodiversity gains for the duration of their lifespan, the letter continues.  Sheep are commonly grazed around the panels, too, it adds. The solar industry has developed guidance to support the responsible development of solar projects. This includes Solar Energy UK’s Natural Capital Best Practice report, developed in collaboration with the National Farmers’ Union, ecological consultants and the higher education sector. It has been endorsed by Natural England, the government’s advisor for the natural environment in England. Solar Energy UK has published a land use briefing detailing the benefits of solar farms to the UK’s agricultural sector. Solar Energy UK chief executive Chris Hewett said: “The solar industry is a natural partner for countryside management, and I would be delighted to accompany the Prime Minister on a visit to one of the UK’s many excellent solar farms. “She can see for herself how their affordable, clean electricity will help to power the UK out of the cost-of-living crisis.”

Credits: renews.biz

                 A Labour government would quadruple offshore wind capacity in the UK by 2030 if elected, Sir Keir Starmer has told The Observer newspaper. The Labour leader made the pledge on the eve of the Labour Party’s annual conference in Liverpool. Starmer added he would also double the amount of onshore wind and triple the amount of solar on the grid by the end of the decade in a bid to turn the UK into an independent green “superpower”. However, Labour has yet to publish any details on how it would implement its renewables drive, and had already previously pledged to double onshore wind and triple solar in a briefing paper for its Energy Bills Plan last month. The document notes 30GW and 40GW targets for onshore wind and solar respectively by 2030, as well as 60GW of offshore wind and 15GW of floating wind by 2035. It had also called for an end to a ban on new onshore wind in England, a policy which the Conservative Party appeared to have pipped with its own U-turn announcement on Friday. The Treasury’s Growth Plan confirmed that planning of onshore wind in England would be reformed and called for all offshore wind projects currently under development in the UK to start construction by the end of 2023.

Credits: renews.biz/ [Image: The Labour Party]

                      Enfinity Global has acquired a 400MW utility-scale solar portfolio in the US, consisting of 28 operational solar PV power plants in California, North Carolina and Idaho. The portfolio reached COD within the last five years and holds long-term power purchase agreements with high-quality utility off-takers. “Our long-term ownership business model allows us to partner with relevant investors, stakeholders and customers, aligning capabilities that create a zero-carbon future,” commented CEO of Enfinity Global Carlos Domenech “Our ability to deploy operational expertise across the entire renewables value chain, coupled with our international presence, translates into value creation for our investors and customers.” CEO Americas of Enfinity Global Ricardo Diaz added: “This transaction represents a unique opportunity to acquire a high-quality, geographically diversified portfolio of operating assets. We believe the US market will continue to consolidate, allowing long-term asset owners to grow rapidly and benefit from efficiencies. “We will continue to pursue further investment opportunities in the US with top-tier partners. Our purpose is to create a fully integrated platform with a complete suite of in-house development, financing, construction, operations and asset management capabilities. To this end I am happy to see that top talent shares our vision and culture and are joining us.”

Credits: renews.biz

Renewable energy company Green Genius has secured finance from the Berenberg Green Energy Junior Debt Fund to build a 69MWp solar park portfolio in Poland. The Berenberg Green Energy Junior Debt Fund will provide financing of €22m euros, which, along with other financial resources, will be used to build and operate the projects. Total investment in the project will reach up to €59m. The project portfolio will consist of individual 1MWp, 5MWp or 8MWp PV plants spread across Poland. The project portfolio will be built with around 106,200 photovoltaic modules, which will produce enough energy to meet the electricity demand of around 24,200 homes. In addition, 49,490 tonnes of CO2 will be saved from emission into the atmosphere. It will operate on a mix of 10-year PPAs, four-year PPAs and the state-backed 15-year contract-for-difference (CfD) support mechanism ensuring stable electricity pricing for the projects. The portfolio is about to start construction and is expected to be completed in 2023. “Besides the region’s energy independence urgency, sustainability issues have not gone anywhere. Trusted financial partners have always had a major role in making big changes happen. Therefore, we’re delighted to start a new partnership with Berenberg in our long and meaningful journey,” said Rokas Bancevicius, CFO of Green Genius. Torsten Heidemann, Head of Infrastructure & Energy of Berenberg, added: “We are proud to support Green Genius on its strong growth path in Poland and look forward to finance future Green Genius projects across Europe. They have the know-how and resources to become a major player in the European renewable energy market.”

Credits: renews.biz

Iberdrola and Solvay will work together on a new solar project to provide Solvay’s French plants in Tavaux and Saint Fons with green electricity. Under the agreement, 172 hectares of land will be used to build a ground-mounted photovoltaic facility. The companies plan to sign a 20-year corporate power purchase agreement to sell the power to Solvay. The solar facility, built and operated by Iberdrola Renouvelables France, will occupy 77 hectares and comprise around 100,000 photovoltaic modules. The remaining area will be dedicated to preservation measures to ensure that the project is fully integrated into its environment. The land that Solvay has dedicated for this project includes two rehabilitated settling ponds from its former soda ash plant located in the Herbitzheim-Willerwald-Sarralbe municipalities on both Bas-Rhin and Moselle departments, in the Grand Est region of France.

The plant will produce nearly 75GWh per year, making this facility one of the largest such installations in Europe. A total of 60% of the green electricity produced will be destined for Solvay’s industrial sites. The plant is expected to go into operation by the end of 2025.

“We are delighted to partner with Iberdrola on this clean energy project that will significantly reduce the energy footprint of our Specialty Polymers and Aroma businesses in France,” said Ilham Kadri, CEO of Solvay. “It’s another important step in our Solvay One Planet roadmap as we continue to raise the bar and accelerate progress towards our ultimate goal of achieving carbon neutrality.” Chairman and CEO of Iberdrola Ignacio Galán added: “Building cross-sector alliances to deliver new clean energy projects continues to be an important pillar of Iberdrola’s global strategy, based on electrification through renewables, networks and storage.“ Businesses are taking a leading role in the energy transition and this major new solar project will deliver significant environmental and economic benefits. We look forward to working with Solvay and to grow our relationship further in the years to come.”

Credits: renews.biz[Image: Iberdrola]