Tag: Powering Tomorrow

KGAL Fund Enters the Czech Solar Market with a Major 50MW Project Acquisition

KGAL’s renewable energy fund, ESPF 5, has made a bold move into the Czech market by acquiring the 50MW PVPP Saxonie solar project near the northern Bohemian city of Most. This marks the eleventh transaction for ESPF 5, expanding its portfolio across a sixth European country, and demonstrating its commitment to driving the clean energy transition in emerging markets.

Czech Republic: A Rising Star in Renewable Energy Investment

The Czech Republic is rapidly emerging as a hotbed for renewable energy investments, and KGAL is seizing the opportunity. The country has set ambitious climate targets that have been raised multiple times, making it a highly attractive destination for investors looking for growth and stability. The Czech government aims to more than double its solar capacity from the current 3.6GW to 8GW by 2030, while also tripling its wind power capacity to 1.5GW.

“In order to achieve these targets, investors are receiving state subsidies for their projects. Solar and wind projects are responding with dynamic expansion,” said André Zücker, Co-Chief Executive of KGAL. This favorable environment is drawing significant investor interest, positioning the Czech Republic as a key player in Europe’s renewable energy landscape.

Low Volatility and High Impact: The Czech Market’s Unique Appeal

One of the standout features of the Czech energy market is its low electricity price volatility, with spot market transactions conducted in euros. This stability provides an attractive risk profile for investors compared to other markets. However, the country’s current electricity mix still heavily relies on coal, which accounts for over 40% of its generation. This results in a CO2 impact well above the EU average, highlighting the urgent need for more climate-neutral energy solutions.

“With the climate-neutral electricity from the solar park near Most, our KGAL ESPF 5 fund will achieve a particularly high impact,” Zücker added. The 50MW PVPP Saxonie project will play a crucial role in reducing the carbon footprint of the region and accelerating the shift away from coal dependency.

Next Steps: Building a Cleaner Future with PVPP Saxonie

The construction phase for the PVPP Saxonie solar park is set to kick off soon, with grid connection planned for the third quarter of 2025. Most of the electricity generated will be marketed through a long-term Power Purchase Agreement (PPA), ensuring stable returns and fostering sustainable energy practices.

The project was acquired from Sev.en Inntech a.s., a Czech company that not only sold the solar project but also operates the local power grid to which the solar park will be connected next year. This synergy between local operators and international investors like KGAL is a promising sign of the collaborative efforts needed to meet Europe’s renewable energy goals.

Looking Ahead: A Green Horizon for KGAL and the Czech Republic

As the final closing of the Article 9 impact fund is set for October 2024, KGAL continues to strengthen its foothold in Europe’s renewable energy market. With this strategic entry into the Czech Republic, KGAL is not just investing in solar power but also contributing to a cleaner, more sustainable future for the region.

This latest acquisition underscores the growing appeal of the Czech market for renewable energy investors and highlights the dynamic expansion opportunities in the solar and wind sectors. As KGAL and ESPF 5 continue to build on this momentum, they are paving the way for a greener, more resilient energy landscape in Central Europe. #SolarEnergy #RenewableInvestment #CzechRepublic #CleanEnergy #GreenTransition #SustainableFuture #PPAs #EnergyMarket #ClimateImpact #KGAL

BayWa r.e. Transforms Former Military Bases into 136MW Solar Powerhouses in France

BayWa r.e. has turned history into a beacon of clean energy by completing five solar farms totaling 136MW across two former military bases in France. Located in central and south-western France, these solar installations span a combined area of 151 hectares and feature over 300,000 solar panels. This ambitious project not only harnesses renewable energy but also revitalizes lands with deep historical roots.

From War Zones to Solar Zones: A New Era for La Martinerie and Fontenet

At the former La Martinerie military base near Châteauroux, two solar parks now generate a combined 82GWh of renewable electricity annually. The 40MW Greenberry solar park, the latest addition, was recently commissioned, joining its 30MW counterpart, Blueberry, which began operations in 2021. These sites are not just producing clean power; they are writing a new chapter in a location that was once a hub for military training and operations.

Over at the Fontenet base in Charente-Maritime, three solar parks—Fontenet 1, 2, and 3—collectively produce another 82GWh each year. Fontenet 1 started operations back in 2014, Fontenet 2 in 2022, and Fontenet 3 has just completed construction. These projects symbolize a dynamic shift from past military use to a sustainable, energy-rich future.

Sustainability Meets Innovation: Coactivity and Biodiversity at the Heart of Solar Development

BayWa r.e. has integrated innovative measures to ensure that these solar farms support both energy production and ecological health. By contracting leases with local farmers, the company has enabled sheep farming to occur on the solar sites. This approach not only provides an additional income stream for farmers but also reduces the need for mechanical vegetation management, preserving local biodiversity.

The company has taken further steps to protect the local flora and fauna. At the Greenberry and Blueberry farms, special measures were implemented to protect native orchid species, create shelters for reptiles, and ensure small terrestrial wildlife can pass freely through the fences. In Fontenet, BayWa r.e. also contributed to the local community by installing solar panels on a municipal building, highlighting its commitment to sustainable local development.

A Historic Transformation: From Military Bases to Clean Energy Hubs

Both La Martinerie and Fontenet have rich histories dating back to the early 20th century. La Martinerie began as a pilot school in 1915 and later hosted the 3rd Fighter Regiment from 1920. Meanwhile, Fontenet was developed during the interwar period and later housed NATO forces from 1951 to 1969 before their eventual closure in the 2000s. Before BayWa r.e. could transform these sites into solar farms, extensive pyrotechnic decontamination was necessary. At Fontenet, several unexploded shells were secured, and at La Martinerie, a 250kg bomb was unearthed as recently as 2023.

A Milestone for Renewable Energy and Land Rehabilitation

Celine Tran, Regional Director of Projects Europe South-West at BayWa r.e., emphasized the significance of these projects: “This example of land rehabilitation as part of the energy transition represents yet another milestone for our innovative and local approach in France. With a strong regional footprint, we are committed to creating positive impacts and benefits for the local community.”

BayWa r.e.’s solar projects on former military sites illustrate how renewable energy can drive both environmental and rural development. The company has also showcased its commitment to wind energy, with a recent sale of the 9MW Quilly wind farm to the local community, underscoring its diverse approach to supporting sustainable growth in France. #CleanEnergyRevolution #SolarPower #FranceRenewables #SustainableDevelopment #LandRehabilitation #GreenEnergy #Biodiversity #RenewableEnergy #CommunityImpact #BayWaRE

Lightsource BP and Kajoni Team Up for Ambitious 500MW Solar Push in Germany

Lightsource BP, a global leader in solar development, has joined forces with Kajoni Energie to power up Germany’s clean energy future. Together, the two companies have committed to developing over 500MW of utility-scale solar projects across Germany over the next two to three years.

A Strategic Solar Partnership to Accelerate Germany’s Green Transition

The collaboration will focus on creating a robust pipeline of solar projects, each with a minimum capacity of 20MW. With Kajoni’s deep local expertise and Lightsource BP’s global experience, the partnership aims to fast-track Germany’s shift towards renewable energy. Kajoni will be responsible for identifying ideal sites of at least 20 hectares, securing all the necessary permits, and bringing these projects to ready-to-build status in close cooperation with Lightsource BP. Once construction begins, Lightsource BP will take full ownership of the projects.

“Lower Saxony, where Kajoni has strong roots, offers immense potential for solar power,” said Stephan Jeznita, Head of Business Development Germany at Lightsource BP. “We are determined to expand our footprint in the German market, and working with local partners like Kajoni is key to scaling up our greenfield development operations.”

Local Expertise Meets Global Experience

Kajoni, known for its regional presence and knowledge in Lower Saxony, is a perfect match for Lightsource BP’s ambitious growth plans. “We sought a partner that aligns with our solar development ambitions, and Lightsource BP fits the bill perfectly,” said Manuel Stiller, Managing Director of Kajoni. “Their extensive experience as a utility-scale solar developer and operator worldwide, combined with their capital and expertise, positions them as an ideal partner to support Germany’s renewable energy targets.”

Paving the Way for Solar Growth in Germany

Having entered the German market in 2023, Lightsource BP has set an ambitious goal to become one of the leading solar project developers in the country, aiming to bring 500MW of solar capacity to the grid annually. This new partnership with Kajoni marks a significant step toward achieving that vision.

The combined strengths of Kajoni’s local market insights and Lightsource BP’s global reach and resources promise a bright future for Germany’s solar energy landscape. As they roll out these large-scale solar projects, the collaboration is set to not only boost clean energy production but also create economic opportunities and strengthen Germany’s energy independence. #SolarEnergy #RenewableEnergy #Germany #Sustainability #GreenEnergy #CleanPower #UtilityScaleSolar #EnergyTransition #ClimateAction #LightsourceBP #Kajoni

DESRI and El Paso Electric Break Ground on Major 130MW Carne Solar Project in New Mexico

D. E. Shaw Renewable Investments (DESRI) and El Paso Electric (EPE) have officially commenced construction on the 130MWac Carne solar and storage project in Deming, New Mexico. This marks DESRI’s second major solar facility in Luna County, building on the success of the Alta Luna project, which has been providing clean energy since 2017.

Powering New Mexico’s Clean Energy Future

Set to power approximately 37,600 homes annually, the Carne solar and storage project represents a significant step forward for EPE’s ambitious goal to achieve 80% clean energy by 2035 and 100% by 2045. The Carne facility, which includes a large-scale battery storage component, will not only provide reliable, cost-effective renewable power to the southwest but also support the regional transmission grid, ensuring stability and resilience.

“DESRI is thrilled to expand our footprint in New Mexico’s renewable energy sector with our fourth utility-scale project in the state,” said Hy Martin, Chief Development Officer of DESRI. “This project reinforces our strong partnership with EPE and showcases our commitment to the energy transition.”

A Collaborative Effort for Sustainable Progress

The project is supported by a 20-year power purchase agreement with EPE and is expected to be operational by 2025. Collaborators Galehead Development and Lacuna Sustainable Investments played pivotal roles in the initial phases of the project’s development. Once completed, the site will significantly contribute to New Mexico’s Renewable Portfolio Standard goals, providing clean energy dedicated entirely to EPE’s New Mexico customers.

“The Carne facility is a key addition to our renewable portfolio,” said James Schichtl, EPE’s Vice President of Regulatory Operations and Resource Strategy. “The battery storage component will be the largest of its kind serving our customers, ensuring both capacity and reliability as we meet the growing demand for clean energy.”

Economic Growth and Local Opportunities

The Carne project will not only drive progress toward clean energy goals but also stimulate economic growth in the local community. SOLV Energy, the engineering, procurement, and construction (EPC) contractor, will generate more than 300 construction jobs and provide valuable skills training and career development for the local workforce. The company will also manage the operations and maintenance of the facility once it becomes operational.

“We are proud to partner once again with DESRI to bring clean energy benefits to New Mexico,” said George Hershman, CEO of SOLV Energy. “Projects like Carne showcase the transformative power of renewable energy investments, creating jobs, boosting local economies, and driving sustainable growth.”

Looking Ahead: A Bright Future for Clean Energy in New Mexico

The Carne solar and storage project symbolizes a growing momentum toward renewable energy in New Mexico and beyond. As DESRI, EPE, and SOLV Energy continue to collaborate, they are paving the way for a cleaner, more sustainable future. With the addition of Carne, EPE is well on its way to meeting its renewable energy milestones, all while fostering strong community ties and economic development. #CleanEnergy #SolarPower #RenewableEnergy #NewMexico #SustainableFuture #EnergyTransition #GreenEnergy #CommunityGrowth #SolarProjects #BatteryStorage

Sveaskog and Alight Unite to Power Sweden’s Renewable Future with 2GW Solar Partnership 

Swedish state forest owner Sveaskog has teamed up with solar developer Alight in a groundbreaking partnership to develop 2GW of solar power over the next five years. This ambitious initiative marks a significant step towards addressing Sweden’s electricity deficit, particularly in the central and southern regions (SE3 and SE4), which are in dire need of renewable energy expansion.

The first phase of this collaboration involves two major solar projects: a 150-hectare solar park in central Sweden and a 70-hectare park in the south. These projects aim to boost renewable electricity production where it’s needed most, bridging the gap and reducing reliance on non-renewable sources. Within this long-term partnership, Alight will be at the helm, developing, building, and co-owning these solar arrays on Sveaskog’s land.

Sveaskog, the country’s largest forest owner, is not only providing land but also committing to co-invest between 30% and 49% in these solar parks. They will also bring their expertise in sustainable management to the table, ensuring that the development process is not just effective but also environmentally responsible. Sveaskog’s commitment to renewable energy reflects their broader mission to create value from Sweden’s vast forest resources.

“Investing in solar power on our land is a natural step for us as a large landowner and a way to contribute to the energy transition and the future need for fossil-free energy sources,” says Erik Brandsma, CEO of Sveaskog. “Alight will be a stable partner for us in this work.”

Sveaskog’s vast holdings cover about 14% of Sweden’s forests, totaling roughly 3.4 million hectares, with 3 million hectares classified as productive forest land. A mere 10,000 hectares—just 0.2% of Sveaskog’s land or 0.04% of Sweden’s total forest land—converted into solar parks could produce around 5GW of renewable energy. This output would more than double Sweden’s current installed solar capacity, illustrating the immense potential of this strategic venture.

Harald Överholm, CEO of Alight, emphasizes the speed and cost-effectiveness of solar power as a solution to the climate crisis: “Solar power is a fast and affordable solution to combat the climate crisis, especially given Sweden’s increasing demand for renewable electricity.” He also praised Sveaskog’s commitment to sustainability and their shared vision of balancing ecological, economic, and social values through these projects.

This partnership is more than just a business venture; it is a vital move towards a sustainable energy future for Sweden, leveraging the power of nature and innovative technology to drive change. #RenewableEnergy #SolarPower #Sustainability #GreenEnergy #Sweden #ClimateAction #EnergyTransition #Sveaskog #Alight #SolarProjects #ForestManagement #CleanEnergyFuture #PartnershipForThePlanet

Lightsource BP Secures $267M Financing to Illuminate New Zealand’s Clean Energy Future with Kōwhai Park Solar Project

Lightsource BP has taken a monumental step in advancing New Zealand’s clean energy transition by securing NZ$267 million (€146 million) in financing for its ambitious 168MWdc Kōwhai Park solar project in Christchurch. Set to become one of New Zealand’s largest solar farms, Kōwhai Park will feature around 300,000 solar panels, harnessing the power of the sun to drive a more sustainable future.

A Powerful Partnership to Accelerate Decarbonization

Developed in partnership with Contact Energy, the Kōwhai Park solar project represents the first phase of Christchurch Airport’s innovative renewable energy precinct, Kōwhai Park. The collaboration between Lightsource BP, Contact Energy, and Christchurch Airport aims to deliver a transformative impact on New Zealand’s energy landscape. Adam Pegg, Managing Director of Lightsource BP APAC, expressed his excitement for this groundbreaking venture: “This project at Kōwhai Park is our first to reach this stage in New Zealand, and we are proud to have developed such strong synergies with our partners Contact and Christchurch Airport as we help progress New Zealand’s decarbonisation. Reaching this point on a project in a new country for the first time is a significant milestone.”

Financing and Construction: Paving the Way for a Green Future

The financing for the Kōwhai Park solar farm comes from a consortium of leading financial institutions, including Westpac New Zealand, Mizuho, China Construction Bank, and Intesa Sanpaolo – IMICIB. This debt package is structured as a green financing loan, emphasizing the project’s commitment to sustainability and clean energy. Mike Fuge, CEO of Contact Energy, highlighted the importance of this partnership: “Contact is thrilled to have confirmed investment of our first solar farm with our JV partner Lightsource BP. The solar farm will also be our first generation asset in the Canterbury region, increasing our geographical spread across the country.” Construction is set to begin in late 2024, with commercial operations expected by 2026. Once operational, the Kōwhai Park solar farm will generate over 275GWh per year—enough to power approximately 36,000 homes annually, marking a significant contribution to New Zealand’s renewable energy capacity.

Building for Tomorrow: A Future of Clean Energy in Aotearoa

Engineering, procurement, and construction for the Kōwhai Park project will be managed by CHINTEC, while Ventia will handle all network connection infrastructure. The joint venture between Lightsource BP and Contact Energy is just getting started, with further plans to expand their solar portfolio across New Zealand. Upcoming projects include a 175MWdc solar farm in Glorit on the Kaipara Coast and a 160MWdc solar farm in Taranaki, adjacent to Contact’s Stratford power station. As these projects come to fruition, they promise to bolster New Zealand’s renewable energy sector, supporting the country’s commitment to a sustainable future. #RenewableEnergy #SolarPower #CleanEnergy #Sustainability #NewZealandSolar #LightsourceBP #ContactEnergy #GreenFinancing #Decarbonization #KōwhaiPark #ClimateAction #SolarFarm #EnergyTransition #Aotearoa

Silicon Ranch Powers Up Canada’s Energy Transition with Scotford Solar Farm

Independent power producer Silicon Ranch has reached a major milestone with the launch of its 58MW Scotford Solar Farm near Edmonton, Alberta. Now fully operational, this groundbreaking solar facility will provide Shell’s Energy and Chemicals Park, Scotford, with enough renewable energy to meet approximately 20% of the refinery’s energy needs over the next 25 years, and 100% of its electricity requirements at peak capacity. The Scotford Solar Farm stands out as Silicon Ranch’s first international solar project and the first large-scale photovoltaic (PV) facility to be installed in Alberta’s Industrial Heartland. This project not only supports Shell’s sustainability goals but also sets a new benchmark for renewable energy integration within heavy industry.

A Commitment to Long-Term Partnership and Community Investment

Silicon Ranch’s unique business model, where it owns, operates, and maintains each facility, reflects a deep-rooted commitment to its partners and the communities it serves. By taking full ownership and responsibility for the Scotford Solar Farm, Silicon Ranch is investing in both renewable energy and the local economy for the long haul. Reagan Farr, co-founder and CEO of Silicon Ranch, emphasized the company’s partnership-driven approach, stating: “At Silicon Ranch, one of our guiding principles is that we are only successful when our partners are successful. The Scotford Solar Farm represents a successful outcome for our partners at Shell Canada and our partners in Strathcona County. This project not only supports Shell’s economic and operational goals but also catalyzed our own significant capital investment in the community.”

A Replicable Model for Renewable Energy in Industrial Applications

The Scotford Solar Farm’s innovative behind-the-meter solution is the first of its kind in Canada, offering a scalable and replicable model for other energy and chemicals businesses looking to support their operations with clean energy. By designing a solution tailored to the needs of heavy industry, Silicon Ranch has paved the way for similar facilities to integrate sustainable power seamlessly into their energy mix. As the long-term owner and operator of this facility, Silicon Ranch will also contribute vital tax revenues to Strathcona County, helping to fund local government priorities for decades to come. This project not only marks a significant step forward in the collaboration between Silicon Ranch and Shell Canada but also represents a promising future for the integration of large-scale renewable energy in Canada’s industrial sectors. #RenewableEnergy #SolarPower #CleanEnergy #SustainableFuture #SiliconRanch #GreenEnergy #CanadaSolar #IndustrialHeartland #ShellCanada #EnergyTransition #InnovativeSolutions #CommunityInvestment #LongTermCommitment

Eurowind Energy Charges Ahead with Nearly 1GW of New Renewable Permits Across Europe 

Eurowind Energy is making significant strides in the renewable energy sector, securing permits for nearly 1GW of new projects across Europe in the 2023/24 fiscal year. This ambitious expansion includes 29 new energy projects, with a mix of solar and wind installations that are already moving into the construction phase. “I am pleased that Eurowind Energy is able to maintain its ambitions for growth in a market characterized by strong competition,” said Jens Rasmussen, CEO of Eurowind Energy. “Our profound market and industry knowledge enable us to identify projects with the greatest potential, both in terms of output and economy.”

This dynamic portfolio features 19 solar parks and 10 wind parks, including a massive 237MW solar park currently under construction in Bulgaria. The projects are strategically spread across Europe, with 11 located in Poland, five in Germany, three in Romania, and two in Slovakia. In Denmark, Eurowind’s home base, the company has obtained permits for two significant projects: Ulkær Mose, featuring 11 wind turbines, and Handest Hede, where existing wind turbines will be supplemented with solar cells to create a cutting-edge hybrid park. These new permits not only underscore Eurowind’s commitment to leading the green transition but also highlight the company’s ability to navigate a competitive market landscape by leveraging its deep industry expertise. As Eurowind continues to expand its renewable energy footprint, it remains at the forefront of Europe’s drive towards a more sustainable energy future. #EurowindEnergy #RenewableEnergy #SolarPower #WindEnergy #GreenGrowth #Sustainability #CleanEnergy #Europe #EnergyTransition #HybridParks