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The obligation will be applied annually from 2022. The clean electricity required will have to be bought through power purchase contracts of at least 10 years’ duration.

Solar projects are greater than two times as expensive as those in comparable arising market countries, says IEA

According to a new report by BNP Paribas Asset Management, renewables offer more advantages than simply mitigating climate change. Electricity is easier to transport than oil, and wind and solar electricity prices are much more stable than volatile oil prices. An analyst from the French bank argues that major producers will need to reduce oil prices below $20 to compete with clean energy in the transport sector.

The power business has revealed it will certainly build 500 MW of renewable energy projects to power several of its worldwide facilities under a four-year contract with Canada's Algonquin Power & Utilities.

Innova Energy has actually contended the sale of its portfolio of 57 commercial roof solar PV assets in the UK.

Spanish oil and also gas significant Repsol has actually boosted its 2030 renewables target to 20GW, the bulk of which is expected to be solar PV, as part of efforts to get to net absolutely no discharges by 2050.

The investment manager is now Europe’s largest renewable energy fund. The €1.3 billion group already has a 1.8 GW generation portfolio.

Madrid-based platform Matrix Renewables, produced by asset supervisor TPG, has participated in a collaboration with Horus Green Energy Investment to co-develop almost 420 MW of solar plants in Sicily and also Lazio, Italy.

EDF Renewables UK intends to develop a 49.9-MW solar farm at Glassthorpe in Northamptonshire, England.

Diode Ventures LLC, part of engineering, procurement, consulting and also building company Black & Veatch Holding, on Wednesday stated it has actually secured financial close for a 100-MW solar project in Texas.

Australian solar window company ClearVue Technologies Ltd (ASX: CPV) on Wednesday said it has authorized a letter of intent (LoI) for its first commercial installation in North America that can see its patented solar power windows fitted in at a new office building in Atlanta, Georgia.

Sharp Corp (TYO:6753) announced on Thursday it has actually commenced power generation at the 40.8-MW direct current (DC) Samegawa Aosono Solar Energy Plant in Fukushima prefecture, northern Japan.

Oracle Power PLC's 1.3-GW renewables hub in Pakistan, with solar, wind, and energy storage, is set to revolutionize the country's energy landscape. Supported by State Grid China, this project is a game-changer.

Although the International Energy Agency’s latest renewables report forecasts impressive solar growth there is still a nagging feeling it has produced conservative estimates and the emphasis on sharing costs with grid operators is predictable.

Of the $216 million in total financing, $145 million has actually been secured as a construction-to-term loan as well as $71 million are tax equity investments. These community solar projects are anticipated to create almost 100 MWdc of renewable resource each year once total.