Statkraft acquires Neoen's Croatian RE portfolio; GreenYellow acquires GEM; SENS LSG commissions 141 MW in Bulgaria; SUNfarming raises funds for Polish projects; Solutions30 invests in So-Tec; Relief for Aiko from Dutch court; RIL's divestment in REC Solar Norway complete.
Statkraft expands Croatian RE business: Norway's state-owned energy group Statkraft has concluded the acquisition of Neoen's renewable energy portfolio in Croatia. While the company did not disclose the exact capacity or financial terms of the deal, in an official statement Statkraft said the portfolio includes all of Neoen's projects in the early stages of development. These comprise wind, solar and battery energy storage systems (BESS). Statkraft's Director for Croatia and France Arnaud Bellanger explained, "Although this acquisition is smaller in scale, it fits well with our current position in the market. We are pleased to welcome three project developers from Neoen to our team in Zagreb."
GreenYellow acquires solar company: French renewables company GreenYellow has acquired Grow Energy Management (GEM), a company majorly active in the decentralized solar energy business in Portugal and Poland. It brings to GreenYellow's portfolio nearly 120 MW PV capacity that's either ready-to-build (RTB) or already operational. It comprises a 100 MW large-scale project in Poland for the Polish supermarket chain Biedronka. GreenYellow says it plans to invest nearly €150 million over the next 3 years in Portugal and Poland as it aims to become a major player in the European self-consumption of solar space.
141 MW online in Bulgaria: SENS LSG has announced commissioning 2 solar power plants in Bulgaria's Dalgo Pole. The projects with an installed capacity of around 91 MW and 50 MW complement an existing 66 MW project that was built in 2022. Together, this 207 MW capacity realized represents more than 330,000 solar modules and 28,000 MWh annual generation. A joint venture between Iqony Solar Energy Solutions (SENS) and LSG Group, SENS LSG realized the project in 3 construction phases for Bulgaria's Galaxy Investment Group.
Finance for 40 MW solar capacity: German independent power producer (IPP) SUNfarming has raised PLN 118 million ($30 million) as a senior term loan facility for its 40 MW solar PV capacity in Poland. This will refinance the 43 projects located across various regions in the country. All the projects are hedged through a 15-year contract for difference (CfD), according to the company. This refinancing has been arranged from PKO Bank Polski.
Solutions30 acquires stake in PV company: France-based technology company Solutions30 has acquired a 10% stake in solar EPC So-Tec. The latter deploys ground-mounted as well as rooftop solar projects with applications ranging from shadehouses, greenhouses, floating to agrivoltaics. Under the agreement, Solutions30 will become the majority shareholder of So-Tec over the next few years and control 100% of the capital within 5 years. Solutions30 says this investment strengthens its dynamic positioning in the PV sector. It aims to become one of the main leaders in the PV sector of France.
Advantage Aiko: Chinese solar module manufacturer Aiko says the Hague District Court in the Netherlands has announced in its judgment that the company's all back contact (ABC) modules do not infringe on Maxeon's patent. It has rejected Maxeon's application for a temporary injunction. The court's decision was based on test reports submitted by Aiko and issued by 2 top professional institutions in Europe, according to the Chinese company. In November 2023, Maxeon launched a patent infringement lawsuit against Aiko for allegedly infringing on its proprietary solar cell architectures, specifically its European Patent No. EP2297788B1 (see SunPower Spin-Off Launches Another Patent Lawsuit). Since then, Maxeon has launched several patent lawsuits against various other manufacturers including Hanwha Qcells (see Maxeon Solar Technologies Launches Another Patent Lawsuit).
REC Solar Norway now under Elkem: India's Reliance Industries Limited (RIL) has completed the sale of REC Solar Norway AS to Elkem ASA. The Indian conglomerate has divested 100% of its stake in what was till now the polysilicon subsidiary of RIL's subsidiary REC Solar Holdings. However, under the agreement with Elkem, RIL will continue to retain the technology and intellectual property (IP) rights pertaining to kerf-based polysilicon operated by REC Norway (see India's Reliance Industries Offloads REC Solar Norway).