Finance for OX2’s 100 MW Polish plant; Energiekontor to add storage to German solar park; Econergy gets finance for Romanian project; Tongwei strengthens presence in Europe; €437 million in loans for Finnish companies; 66 MW PV changes hands in Poland; Jinko ESS projects in Spain; DMEGC Infinity module in Germany; AIKO & JA Solar bag EUPD awards.
Sunly raises €60 million: Baltics and Poland-focused renewable energy producer Sunly has raised €60 million in an equity funding round led by its existing shareholders and significant contributions from the European Bank for Reconstruction and Development (EBRD), Mirova and Vardar. It plans to deploy the proceeds to develop hybrid parks across the Baltics. The 244 MW Risti Solar Park in Estonia is one of the first projects to benefit from the funding. This project is scheduled to come online in 2026 and will incorporate battery storage capacity in the future. Funds raised will also back Sunly’s 3 presently under-construction solar parks in Latvia with 225 MW combined capacity. These will also be hybridized in the future with the addition of wind, battery storage or a combination of both, shared the company. Sunly says it has now raised a total of €825 million in debt and equity from investors.
OX2 bags funds for 100 MW in Poland: EQT-owned Swedish renewables company OX2 has announced securing financing from NORD/LB for a 100 MW solar farm in Poland. The Rutki Solar Farm is currently under construction and is expected to enter commercial operations in early 2025. The project has a Contracts for Difference (CfD) contract with Poland’s Energy Regulatory Office for about 50% of the expected annual production of 108 GWh. OX2 says this paves the way for the company’s transition to becoming a hybrid independent power producer (IPP).
Storage for German solar park: German wind and solar projects developer Energiekontor is collaborating with green-tech company Olamtic GmbH to add a battery energy storage system (BESS) for the Vogelsang Solar Park. The 60 MW solar PV project is planned for the district of Oder-Spree in Brandenburg. It will generate around 71 GWh annually. Combining it with battery storage will help stabilize the energy supply, according to Energiekontor.
€28 million for Econergy: Econergy UK has signed a financing agreement for €28 million to fund its 58 MW Romania project. The Iancu Jianu Solar PV Plant is under construction currently with a grid connection date of 2025. The financing has been provided by Kommunalkredit Austria AG.
Tongwei and PVO agreement: Chinese solar manufacturer Tongwei has signed a 350 MW memorandum of cooperation with European distributor PVO International for 350 MW in 2025. With this repeat agreement, Tongwei aims to take advantage of the PVO’s strong distribution network in northwestern Europe.
Nordea and EIF to fund energy upgrades: Nordic financial services group Nordea has teamed up with the European Investment Fund (EIF) to offer up to €437 million in loans to Finnish companies to carry out energy upgrades. This will enable small and medium enterprises (SMEs) along with small mid-caps in the country to invest in solar panels, electric cars, energy efficiency, and the adoption of digital technologies. Part of the European Investment Bank (EIB), the EIF will provide guarantees to ensure favorable terms such as reduced interest rates by Nordea. These guarantees are backed by the European Commission’s InvestEU program, under which it targets to mobilize over €372 million in additional investment between 2021 and 2027 to support green and digital transitions.
Polish projects get new owner: Poland’s closed-end investment company focused on renewable energy JSC Atsinaujinančios Energetikos Investicijos has sold off its 66 MW solar PV projects portfolio in Poland. These operational projects are managed by Energy Solar Projekty, which is now owned by a UK-based investment management firm specializing in renewable energy infrastructure. JSC Atsinaujinančios continues to remain active in the Polish market with a 190 MW PV portfolio.
Jinko ESS in Spain: Chinese PV manufacturer JinkoSolar’s energy storage system (ESS) company Jinko ESS has completed its first Spanish installations. It deployed the company’s 5 high-performance SunGiga All-in-One 215 kWh battery energy storage system (BESS) projects in Villena, Aguilas and Alicante. It completed the installations with Cubierta Solar.
DMEGC Solar’s new modules in Germany: China’s DMEGC Solar will launch its n-type TOPCon double-glass solar module under the Infinity brand in Germany by the end of March or the beginning of April 2025. The DMxxxM10T-B32HBT module is specially designed for single-family homes and limited roof space. It has a 2 x 2 mm glass structure, 1,542 x 766 x30 mm dimension, and weighs 15.3 kg. It is especially suitable for urban villas with hipped roofs and can withstand up to +8,100 Pa pressure load and -4,000 Pa suction load, claims the manufacturer. These modules have 22.9% efficiency and up to 270 W output.
EUPD award for Chinese companies: Solar PV manufacturer AIKO has received the ESG Transparency Award 2024 from EUPD Research. It achieved the Excellence Class ranking for this award. The company says this award recognizes organizations that integrate advanced sustainability strategies into their operations and community them with clarity and accountability, a process developed by EUPD over 25 years of its experience in the sustainability field.
EUPD has also awarded the Solar Prosumer Award and the Energy Transition Award to JA Solar. The former reflects JA Solar’s brand recognition among end-users, and the latter recognizes its contribution to energy transformation in the DACH region.
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