Search Results for: REC

Romania’s Ministry of Energy has approved a subsidy mechanism for contracts for difference (CfD) for wind and solar power projects. This mechanism will support 5 GW of renewable energy capacity across two tender rounds this year and next. A CfD ensures stable income for green energy investments by guaranteeing a fixed price per megawatt-hour. If market prices fall below this rate, the state pays the difference. Conversely, if market prices exceed the fixed rate, the…

Matrix Renewables has obtained a EUR 50 million (USD 54.6 million) green loan from the European Investment Bank (EIB) to finance new solar projects in Spain. The funds will support the design, construction, and operation of five solar farms with a total capacity of 240 MW in Castile and Leon and Extremadura, regions with lower-than-average EU per-capita income. The solar farms are expected to be operational by the end of 2025. This loan aligns with…

Nautilus Solar Energy has inaugurated a 2.8 MW community solar farm on the Altamont municipal waste dump and burn pit, previously the Schenectady Army Depot in New York. This marks the first community solar project on a formerly used defence site (FUDS), set to provide clean energy to over 260 households. Situated near the Northeastern Industrial Park in Guilderland, New York, the site, once a critical US Army facility from 1941 to 1969, has been…

The US and Sweden have signed a memorandum of understanding (MOU) to bolster domestic nuclear production through bilateral cooperation. The agreement was signed by Sweden’s Minister for Energy, Business, and Industry Ebba Busch and US Secretary of Energy Jennifer Granholm in Washington, DC, on August 1. The MOU aims to facilitate the exchange of experience on nuclear policy, research, and innovation related to supply chains, financing models, skills supply, and the development of advanced nuclear…

Enefit Green has secured a €100 million loan from the European Bank for Reconstruction and Development (EBRD) for the construction of the 255MW Sopi-Tootsi wind farm in Estonia. The eight-year loan supports the wind farm’s development, set to be completed by 2025. The project, with over half of its 38 turbines already installed, will meet 40% of the annual electricity consumption of Estonian households.

Spanish utility company Iberdrola has acquired an 88% stake in Electricity North West (ENW) for an equity value of €2.5 billion ($2.7 billion), valuing the company, including its debt, at €5 billion. Since merging with ScottishPower in 2007, Iberdrola has viewed the UK as a key investment destination, investing €36 billion. ScottishPower is the UK’s only fully green integrated utility. The acquisition positions the UK at the forefront of Iberdrola’s markets by regulated asset base,…

German utility enviaM group, through its subsidiary envia THERM, has partnered with the ASG Group under the joint venture Ventura Holding to develop solar projects with a total potential of more than 700 MW in central Germany. The collaboration aims to accelerate the expansion of renewable energy and bolster the region as a green business and industrial hub. Patrick Kather, enviaM board member for production and sales, highlighted the significance of the solar parks, which…

German solar developer ib vogt GmbH has secured a power purchase agreement (PPA) for its 50-MWac/68-MWp solar farm project in Bangladesh. Sonagazi Solar Power Limited, sponsored by ib vogt, signed the agreement with the Bangladesh Power Development Board (BPDP) and Power Grid Bangladesh PLC. Under the PPA, Sonagazi Solar will receive a fixed tariff of USD 0.1094 (EUR 0.102) per kWh for 20 years. The solar farm will be built in the north of the…