Mirova invests €140 million in Hyperion Renewables; TotalEnergies invests in Xlinks project; Glasgow Airport to host 19.9 MW solar plant; EIB backs Sorégies projects in France; Solar Steel's Turkish order; REC Group shutters silicon plants in Norway.
€140 million for Hyperion: Portugal-based renewable energy developer Hyperion Renewables has raised €140 million investment from the French affiliate of Natixis Investment Asset Managers, Mirova. It plans to deploy the proceeds to drive the initial deployment of 3.4 GW of Hyperion's current pipeline comprising solar PV, wind, storage and green hydrogen projects. These are mainly located in Portugal. Mirova has made this investment through Mirova Energy Transition 5 (MET 5) with a total commitment of €1.6 billion. Mirova said that it now aims to raise up to €2 billion for the next fund.
Xlinks finds a major European partner: French energy group TotalEnergies has picked up a minority stake in Xlinks First Limited that aims to generate 11.5 GW solar and wind energy in Morocco, of which 3.6 GW will be supplied to the United Kingdom (UK) via submarine cables. It will also include a 22.5 GWh/5 GW battery installation on site to ensure round-the-clock and predictable power supply. TotalEnergies joins the likes of Abu Dhabi National Energy Company (TAQA) and Octopus Energy at Xlinks with its £20 million investment. On completion, the project is expected to power over 7 million homes in the UK, covering 8% of its domestic needs.
Scottish airport to add solar: Scotland's Glasgow Airport has completed the development phase and achieved financial closure for a 19.9 MW solar plant to be located on airport land. Planned to be the largest airport-based solar farm in the country, it is being realized by Ikagai Group and will be owned and operated by Octopus Energy Generation backed Zestec Renewable Energy. The £18.5 million farm is targeted to help meet the current and future demand of the airport and neighboring businesses with low-cost and green energy. Phase I of the project is scheduled for completion in Summer 2024. In February 2022, Glasgow Airport had planned for the project to host 15 MW capacity (see Scotland's Largest Airport Based Solar Farm).
EIB backs RE in France: French energy supplier Sorégies has secured €250 million more in financing from the European Investment Bank (EIB) to increase the production of renewable energy in its portfolio. It plans to acquire or construct a total of 307 MW solar PV and wind farm capacity in the form of 44 projects. This is part of its strategy to self-generate a minimum of 1,000 GWh of electricity by 2030. It currently operates a portfolio of more than 260 wind, solar PV, hydroelectric and biomass power plants in France. Previously, EIB loaned it €70 million in 2017.
Turkish deal for Solar Steel: Spanish solar tracker and fixed structures supplier Solar Steel will supply its TracSmarT+ 1V single-row solar trackers for the 90 MW Deski Solar Plant in Turkey. The Denizli province located project will use 3,495 of Solar Steel trackers to accommodate more than 160,000 solar modules. Solar Steel says it has a manufacturing center for trackers and fixed structures in Turkey at Çepas Gonvarri Industries which makes it easier to fulfill the order.
Silicon operations shut in Norway: Part of India's Reliance Industries Limited (RIL), Norway's REC Group has reportedly shut down its high purity silicon production in Norway, according to a report in the regional newspaper Fædrelandsvennen. While the original article is behind a paywall, it has been widely covered by several local publications as well. The company had not been generating profit at its Kristiansand and Porsgrunn fabs for quite some time, and as its new owner is building a solar industrial chain in India, REC decided to close operations. The news follows solar wafer producer Norwegian Crystals filing for bankruptcy and NorSun temporarily shutting down its plant (see European Solar Wafer Manufacturer In Trouble).