RWE lands state subsidy for Poland solar projects; Swedish media group Egmont signs up for solar power with Axpo & Soltech; Voltalia buys Dutch solar plant; ib vogt signs VPPA with Thermo Fisher Scientific & Eurofins Scientific in Spain; Statkraft issues €1 billion green bonds.
RWE Polish projects get state support: Germany's RWE has secured contracts for difference (CfD) for 66 MW AC solar PV capacity in the recently held renewable energy auction in Poland (see Poland Concludes 2023 Renewable Energy Auction). The Polish Energy Regulatory Office (URE) selected small and medium projects from RWE's portfolio with most of these scheduled for construction in 2024 and located in the provinces of Warmińsko-Mazurskie, Wielkopolskie, Łódzkie and Dolnośląskie. Most of these were developed by the Polish company Alpha Solar, which RWE acquired in 2022. RWE's current operational solar PV capacity in Poland stands at 32 MW. The German group aims to invest €55 billion net between 2024 and 2030 to expand its green portfolio to exceed 65 GW, 40% of which will be invested in expanding its onshore wind and solar business.
Egmont goes for solar: Swedish media group Egmont has signed a 7-year corporate power purchase agreement (CPPA) for an 11 MW solar power plant with Switzerland's Axpo and Sweden's Soltech Energy Solutions. Located in Southern Sweden near Falkenberg, the Soltech-developed project will be operational the summer of 2024. On completion, it will generate around 11 GWh clean energy annually with Egmont as the sole offtaker. For Egmont, this project will cover 50% of its electricity consumption in Sweden and Norway.
Voltalia acquires stake in Dutch solar plant: French renewable energy player Voltalia has acquired a 55% stake in a 60 MW solar power plant in the Netherlands. The Mosselbanken Solar Plant is located in the Zeeland province in the industrial port of Terneuzen. It is contracted under a 15-year PPA.
VPPA for 127 MW solar: Germany headquartered global solar PV projects developer ib vogt has announced the signing of a virtual PPA (VPPA) for a total 127 MW capacity in Spain. Thermo Fisher Scientific is the offtaker for 91 MW, while Eurofins Scientific has signed up for 36 MW. This will be sourced from 328 GWh/year that the 174 MW Serbal Solar Power plant, developed by and to be constructed by ib vogt, will produce. The VPPA will come into effect in early 2025. The remaining electricity generated will be traded on the wholesale market.
Statkraft's green bond: Norwegian state-owned energy company Statkraft has issued a €1 billion senior unsecured bond under its Euro Medium Term Note (EMTN) program. The bonds will mature in December 2026 and 2031 and pay a fixed coupon of 3.125% each. The net proceeds will be used by the company to finance eligible projects as specified in Statkraft's Green Finance Framework. The company said that it will apply for the bonds to be listed on Euronext Dublin.