Tag: Norbida UK News

               A €53m investment from the Danish Green Investment Fund will help move European Energy’s Danish e-methanol facility a step closer. The company’s upcoming Power-to-X-facility (PtX-facility) in Kasso will be the largest e-methanol facility in the world to date. The future PtX facility is supplied with renewable energy from the nearby Kasso Solar Park, which European Energy has developed and built. The solar park is to date the largest solar park in Northern Europe with a capacity of 300MW. This corresponds to the solar park being able to supply 75,000 Danish households with green electricity. The financing from the Danish Green Investment Fund’s financing is part of the total investment in the facility, which the Danish bank Jyske Bank is also co-financing. “We see great potential in the facility, which is a step towards scaling PtX technologies. The entire value chain is conceived by, among other things, using CO2 when the e-methanol is to be refined – and this can help to meet the massive demand for electrofuels,” said Michael Zollner, Managing Partner at Denmark’s Green Investment Fund. “We are very happy that DGIF sees the same potential in green fuels, including e-methanol, as we do,” said CEO of European Energy Knud Erik Andersen.

Credits: renews.biz[Image: Pixabay]

               IBC Solar has sold two solar projects totalling 120MW in Poland to Israel-based Afcon Renewable Energy. The projects are in advanced development in the western region of Poland. Afcon Renewable Energy will complete the development of the projects up to the stage of readiness to build (RTB) through development agreements signed with local entrepreneurs. “The signing of the contract is the kick-off of our joint project activities with Afcon, which may be extended to other countries as well,” said Patrik Danz, Chief Sales Officer of IBC Solar. “The sale to Afcon is only a part of our project development in Poland, which comprises more than 600 MW and is being continuously expanded.” “As a full-service provider IBC Solar is an experienced partner for renewable energy projects from the development and turn-key realisation, up to the operation and maintenance,” added Wojciech Prokopowicz, Managing Director IBC Solar Polska. Israel Raif, Chairman of Afcon, added: “We are very pleased about our cooperation with IBC Solar. “These two projects are a significant addition to our portfolio of projects in general and in Poland in particular. “Afcon is continuing to invest in unique large-scale solar projects and this acquisition will position us as a significant player in the renewable energy market in Europe.”

Credits: renews.biz[Image: IBC Solar]

               GRIDSERVE has completed the development of the “UK’s most technically advanced hybrid solar and battery farm” in Cirencester, the company said. The 23MWp DC coupled solar and battery farm includes more than 43,000 bifacial solar panels, plus 51MWh of energy storage. It is the third such farm to be handed over to Warrington Borough Council making it the “first local authority in the UK to produce all of its own electricity”, it claimed.  By using bifacial panels coupled with sun trackers for the renewable energy generation, the farm will have an increased efficiency by around 20% compared to traditional technologies. “It is our collective responsibility to tackle the climate change emergency. Projects like Cirencester Hybrid Solar Farm require no government subsidy and deliver secure, affordable and plentiful energy,” said Toddington Harper, CEO of GRIDSERVE. “They demonstrate that the UK can meet its net zero obligations, and in partnership with Warrington Borough Council, enable us to deliver radical carbon reductions to move the needle on climate change in the fastest possible timeframes, and at the lowest cost.” The first of these “game changing” hybrid solar-plus-storage projects had been developed in York, 2019, which at the time became the first utility-scale solar farm in the UK to use both trackers and bifacial solar panels.

               The 34.7MWp solar farm had been co-located with a 27MW battery, enabling what the renewable developer labelled as a “pioneering” new commercial model for solar in the UK. At the time, Harper said: “We’ve completely rethought the solar model to maximise value, and we’ve now demonstrated that we have what it takes to make projects like this a reality. To replicate this success, we are now looking to partner with additional landowners, developers, and to acquire project rights.” More than 90,000 bifacial panels supplied by Suntech make up the energy generation element of the site, with single-axis trackers supplied by Nextracker used to shift the generation portfolio of the solar farm. Sungrow inverters and Samsung batteries complete the array’s technology suite. This project had also been handed to Warrington Council upon its completion. “The completion of Cirencester Hybrid Solar Farm is great news for Warrington. It will provide a huge boost to our ongoing work to tackle the climate emergency, reduce greenhouse emissions, and tackle fuel poverty in our borough. It will also provide enough net zero carbon energy to charge our fleet of all-electric buses when they are rolled-out next year,” said Cllr Janet Henshaw, cabinet member for sustainability and climate change at Warrington Borough Council. “Investing in subsidy-free developments has been a landmark achievement for the Council. Each project has proven to be a solid strategic decision to ensure the borough’s future energy security. We look forward to working with GRIDSERVE to ensure Cirencester Hybrid Solar Farm continues to generate optimal financial and environmental returns.” GRIDSERVE entered into a partnership with Hitachi Capital (UK) In April 2020 which saw the latter make a multi-million-pound investment through a loan facility. Hitachi’s loan facility will help fund projects including two hybrid solar farms in Gloucestershire and Lincolnshire.

Credits: solarpowerportal.co.uk

               Israeli renewables player Ashtrom is establishing operations in Greece by signing agreements to develop a 476MW solar project pipeline in the country with a local partner. The pipeline comprises five projects valued at €335-380m. This is based on the assumption that the cost of construction per MW, including the cost of connecting the projects to the grid, is estimated at €700,000-800,000. Ashtrom Renewable Energy has also been granted a future right to take over several additional projects owned by the Greek partner at advanced stages of development.

               These are expected to obtain the “substantial permits” required for construction within the upcoming year. In addition, the agreement contains a mechanism by which consideration to the development partner will be determined according to milestones set forth in the agreement and development progress, where most of the consideration will be paid at advanced development stages and after approval for connecting to the electrical grid. Yitsik Marmelshtein, CEO, Ashtrom Renewable Energy, said: “Ashtrom’s entry to the energy market in Greece corresponds with its strategy for expanding its renewable energy operations to additional countries, following our entry to the US and Poland. “We estimate that the Greek market – characterised by accelerated growth, high electricity prices and good solar radiation conditions compared to other European countries – can serve as a significant growth opportunity for Ashtrom Renewable Energy in the near future. “We intend to take further measures and develops additional renewable energy projects, thus establishing our operations in the US, Israel, Poland and Greece, where we conduct substantial projects of 1.5GW total capacity.”

Credits: renews.biz [Image: Unsplash/Jeremy Bezange]

               Lightsource bp will kick-start the construction contracts for its largest ever UK solar project. Construction of the 61MWp project will begin at Tiln Farm, Retford in November and is scheduled to take approximately 11 months. Once complete, 50GWh of renewable energy generated by the project will be sold to Forterra, a UK building products manufacturer, annually for 15 years via a corporate power purchase agreement. The PPA will provide the company with valuable price certainty and predictability at a time when this is in short supply. Lightsource bp will be investing over £40m into the project.

               Tiln is the latest project to go into construction as part of Lightsource bp’s UK project development pipeline, which is almost exclusively made up of sites this size and larger. The UK is a key market in achieving Lightsource bp’s global ambitions to develop 25GW by 2025. Lightsource bp CEO of EMEA and APAC Kareen Boutonnat said: “Deploying solar in the UK is a key aspect of combatting the energy crisis – the fact that we can deliver a +60MWp project like Tiln in under a year is critical. “The addition of battery storage is another vital development, helping to dispatch solar to the grid during periods of peak demand. This project is a demonstration of how Lightsource bp is moving at speed to develop sustainable renewable projects, we’re supporting the UK’s low-carbon transition and climate targets.” Louise Kingham, bp’s head of UK, added: “These are exactly the type of projects we want to see developed – producing clean energy, creating new jobs and supporting local communities. Today’s announcement is an important milestone and critically one step closer to getting another UK solar farm up and running.”

Credits: renews.biz[Image: Pixabay]

              Renewable Connections has welcomed its third project consent in seven days, securing nearly 90MW of solar and battery storage pipeline in Scotland and England. Once operational, the three projects could displace the equivalent of 1.5 million tonnes of CO2 from fossil fuel sources throughout their lifetime. The three projects include the 23MW Selms Muir solar and battery storage development in West Lothian, the 21MW Kincraig Solar and battery storage development in Aberdeenshire, and the 46MW Snakes Meadow Solar Farm in Bedfordshire. All three recently consented projects have been developed by Renewable Connections in partnership with European Energy (EE) and once operational will have a lifespan of up to forty years.                                                                                                                                This year to date, Renewable Connections has secured seven consecutive project consents, with three projects consented in Scotland, and four in England. John Leith, development director at Renewable Connections, said: “Our three recently consented projects will not only bring the obvious, long-term renewable energy benefits, but also significant inward investment with over £179,000 of community benefit funds associated with them. He added: “We have been very fortunate to have eight projects consecutively approved, seven of which have been approved this year. We take a responsible, community led approach in the development of our projects. Whilst our key focus is on unlocking hundreds of megawatts of solar and storage and increasing energy independence in the UK, we are also committed to developing high quality projects which see benefits delivered to local residents and the natural environment.”

Credits: renews.biz[Image: Renewable Connections]

              EDP Renewables (EDPR) has completed the acquisition of a 70% stake in Kronos Solar Projects, a developer based in Germany. Kronos has a “lean development team with a long-term expertise” on solar development and a portfolio of 7.5GW of solar projects in different stages of development, more than half of which is in Germany, and the rest in France, the Netherlands and the UK. The acquisition allows EDPR to enter into Germany and the Netherlands which benefit from ambitious renewables targets, given the increased importance of security of supply and energy independence. With this transaction, EDPR expands its presence to 12 markets in Europe, which overall represent more than 90% of the expected solar capacity additions in EU until 2030. Moreover, the entrance in these new markets creates opportunities to expand not only in solar but also in other technologies, namely wind through hybridisation, new wind pipeline, hydrogen and storage technologies, stated EDPR. The deal was closed for an acquisition price of €250m paid at closing and a success fee to be paid to the sellers over 2023-28, dependent on the solar capacity delivered by Kronos development team in this period. The transaction includes also call/put options on the remaining 30% minority stake in Kronos, which is held by its founders that will continue to be involved in the daily management of the business, exercisable from 2028 onwards, with strike price associated to the status of renewables projects under development by Kronos on that year.

Credits: renews.biz[Image: EDPR]

                Research from Rystad Energy reveals that 35GW of solar manufacturing and more than 2000 gigawatt hours of battery cell manufacturing capacity in the EU could be mothballed unless power prices return to normal. The energy intensive nature of these manufacturing processes is leading some operators to temporarily close or abandon production facilities as the cost of doing business escalates. Rystad stated that unless prices turn around soon, Europe’s plans to cut dependence on imported fossil fuels by boosting installed renewable generation capacity and electric vehicle (EV) usage could be derailed. Although Europe’s solar manufacturing capacity is relatively modest on a global scale – making up only 2% of total capacity – any shutdowns or abandonment of projects would have significant long-term negative consequences. The EU has targeted 20GW of production capacity by 2025, and although 35GW of projects is currently planned, many have not secured funding, increasing the risk that these projects will fall through if high power prices continue. Battery cell manufacturing – crucial in the EV and battery storage supply chain – is even more energy intensive than solar manufacturing, and Europe is a major global player.

                  The EU currently boasts about 550GWh of capacity, representing 27% of global operational capacity. Announced projects under development are set to boost that total significantly, increasing capacity to 2.7 terawatt-hours, positioning the EU as a global leader. However, those are now at risk and the car manufacturing and battery storage sectors could struggle to source Europe-made batteries as a result, stated Rystad. “High power prices not only pose a significant threat to European decarbonisation efforts but could also result in increased reliance on overseas manufacturing, something governments are eager to avoid. “Building a reliable domestic low-carbon supply chain is essential if the continent is going to stick to its goals, including the REPowerEU plan, but as things stand, that is in serious jeopardy.” Audun Martinsen, Rystad Energy’s head of energy service research, said: “European electricity prices have risen to unprecedented levels in recent weeks due to unplanned nuclear and hydropower plant outages, soaring demand for cooling during an oppressive summer heatwave and reduced gas deliveries from Russia. “Although prices have retreated significantly since these record highs in August, rates remain in the €300 to €400 range, many multiples above pre-energy crisis norms.” Britishvolt’s signature giga-sized battery factory in Blyth in the UK – which would add 30 GWh to the continent’s manufacturing capabilities – has already been delayed to mid-2025 due to rising energy costs and the need for additional fundraising, Rystad stated.

Credits: renews.biz [Image: Trina Solar]

              Belectric has been chosen to repower a solar plant in Israel for its customer Enlight to increase the Halutziot solar farm’s capacity to 88MW from 55MW. Replacement works have started, and the construction works are expected to be finished by the second quarter of 2023.

             Belectric will also take on operation and maintenance (O&M) services for the repowered project. Halutziot solar farm is situated in the Negev desert in Israel and was originally commissioned in 2015. At the time of commissioning, it became Israel’s largest PV plant. Belectric’s work involves replacing the 180,000 existing modules with 161,000 new high capacity modules. The retrofit works also include replacing the inverters and transformers on site. In addition, an energy storage system will be installed, making Halutziot one of Israel’s first hybrid projects combining solar energy and battery storage. It is also the first time that Belectric has signed an EPC contract with Enlight, an Israel-based investment company and important player in the Israeli and global PV market. Yaron Lado, Business Development Manager at BELECTRIC Israel, said: “We thank Enlight for choosing us to lead this project, including the repowering works, main equipment upgrade and storage system integration all while assuring minimum downtime for the project, connected to the high voltage grid. “We are thankful for this vote of confidence, and are looking forward to expanding our collaboration in future projects.”

Credits: renews.biz/ [Image: Belectric]

               RWE has agreed to acquire Con Edison Clean Energy Businesses in a transaction that almost doubles the company’s renewables portfolio in the US. Through the purchase, RWE will add the Con Edison subsidiary’s with about 3GW of operating capacity, of which 90% are solar projects, and a development pipeline of more than 7GW. Once completed, this will make RWE the fourth biggest renewable energy company and the second largest solar operator in the US. Combining RWE’s and Con Edison CEB’s highly complementary portfolios almost doubles RWE’s operating asset base in the US to 7.2GW. The purchase price is based on an enterprise value of $6.8bn, with earnings accretive acquisition increasing EBITDA by around $600 million from year one onward. At the same time, RWE’s US presence becomes more widely spread across the vast majority of US states. The unique combination of both businesses also leads to a balanced portfolio across onshore wind, solar and batteries.  

              A combined project pipeline of more than 24GW in onshore wind, solar and batteries provides one of the largest development platforms for renewable energy in the US. Growth from the acquisition will come on top of RWE’s existing growth plans for the US. RWE had already earmarked up to 15 billion euros gross for investment in the US as part of its Growing Green strategy, which envisages global investments of 50 billion euros gross by 2030. Con Edison CEB has a strong team of about 500 experts with a long and outstanding track record in developing, constructing and operating renewable energy projects. About 1,400 employees from both companies will form a high-performing team, fully committed to the green energy transition and stepping up RWE’s growth plans in the US in the years to come. Closing of the transaction is subject to customary regulatory approvals and is expected to take place in the first half of 2023. RWE CEO Markus Krebber said: “Our equity capital measure is the basis for financing the acquisition of Con Edison CEB and of the additional green growth in the years to come. I am delighted that QIA is supporting RWE’s accelerated growth ambitions with their capital commitment. This underlines our strategy to be one of leading drivers of the global energy transition.“

Credits: renews.biz/ [Image: Pixabay]