Author: Jane Briones

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]