€480 million investment: An affiliate of Natixis Investment Managers, France’s Mirova has plans to invest €480 million in Austria-based renewable energy developer RP Global. Mirova Energy Transition 6 (MET6) will invest €200 million and another co-investment vehicle managed by Mirova will invest €280 million to become a minority shareholder in RP Global. The latter, a pan-European developer in wind, solar PV and storage projects, has been operating for 40 years in Western and Central European countries. It has around 14 GW of development portfolio comprising solar PV, wind and storage projects. It aims to build 2.5 GW of solar, wind and storage assets over the next 5 years while maturing other projects. The MET6 investment will enable it to achieve these objectives.
Financing for Italian agrivoltaic projects: Global independent private asset manager Capital Dynamics has successfully completed project financing for 2 of Italy’s largest subsidy-free agrivoltaic projects. With a combined 187 MW capacity, these projects are currently under construction in Sicily. One of the ‘largest’ financing deals in Italy’s clean energy sector in 2024, the financing of €185 million was arranged with Natixis Corporate and Investment Banking as the lender. Food production will be integrated within the solar field, with olive groves planted adjacent to support local olive oil production. Prickly pears will also be cultivated between the solar trackers and beekeeping initiatives will promote honey production here.
£7 million acquisition in the UK: Renewable energy firm Good Energy Group in the United Kingdom (UK) has entered into a conditional binding agreement to acquire commercial solar installer Empower Energy Limited for £7 million. “Good Energy is already providing high quality, consultative commercial solar installation services to customers in the South, and through Empower joining the Group we are stepping this up further. Offering commercial solar installation backed by 15 years of experience nationwide, Empower accelerates Good Energy's solar service offering,” said Good Energy CEO Nigel Pocklington. The Empower acquisition is Good Energy’s 5th acquisition in the past 2 years, and 4th in solar installation services space. Pocklington shared that his company will now focus on integrating these businesses under the Good Energy brand which will provide a cohesive experience for commercial customers. In the 1st week of October 2024, Good Energy announced the acquisition of another commercial solar installer Amelio Solar.
PPA in Poland: Polish electricity trading company Respect Energy has signed a 10-year power purchase agreement (PPA) with PVE Group to secure around 63 GWh of green energy for its customers every year. This energy will come from 11 solar power plants managed by PVE in Poland with a combined 57.26 MW capacity.
45 MW solar project in Scotland: Belgian renewable energy company Aukera Energy has secured government approval for a 45 MW solar farm with a 40 MW embedded battery storage facility in South Ayrshire, Scotland. Jointly developed by Aukera and Locogen, the 45 MW Loch Fergus project is expected to generate close to 57 GWh of clean energy annually. It is scheduled to come online in 2026.
LMF Energy finds investor: UK-based renewable energy systems installer Live Manage Facilitate Limited trading as LMF Energy Services has secured growth investment from Soho Square Capital. The undisclosed amount from Soho will enable LMF to accelerate its expansion plans. It will continue to work on government schemes while also broadening its private solar installation, commercial and social housing business. LMF operates in the space of heat pumps, solar panels, electric storage, heaters, and insulation across the country. The investment brings to Soho a seat on the LMF board which will be occupied by Stephen Edwards.
€120 million EIB loan for Iberdrola: Spanish energy group Iberdrola has secured a €120 million loan from the European Investment Bank (EIB). This will enable Iberdrola to boost innovation in solar PV, hydro, wind power, agrivoltaics, and hybrid projects. Some of the funds will also support green hydrogen or heat pump projects, along with the integration and management of renewables, storage and smart grid development. Iberdrola says these initiatives are part of its 2024-2026 strategic plan to accelerate decarbonization and contribute to electrification and digitalization of the global economy. Around 27% of the associated investment will go to Europe’s cohesion regions where the per capita income is below the EU average.
European partnership for Astronergy: Chinese solar PV manufacturer Astronergy has signed an agreement with European PV mounting specialist Enzeit Technik to collaborate on addressing key challenges for building PV farms. This partnership aims to ensure compatibility for safe and efficient installation, improving installation performance, and optimizing logistics. Phase I of their cooperation will focus on Eastern European markets, to be followed by the Iberian Peninsula. Enzeit operates predominantly in Eastern Europe, the Balkans, and the Iberian Peninsula.
31.6 MW solar plant online in Romania: The CEF Slătioara Photovoltaic Power Station in Romania was officially grid connected on October 23, 2024. Chint Group subsidiary Astronergy supplied 31.6 MW or 50,544 high-efficiency ASTRO N5 Series Top-Con 4.0 cell PV modules for the project. Developed and constructed by local company Necaluxan Solthree SRL, the 31.6 MW project is located in Valcea County. The project started supplying power to the grid in June 2024 and is now fully grid-connected. Astronergy sees the country as a growing market for its business as Romania targets to increase its renewable energy installed capacity by about 7 GW by 2030, out of which around 3.7 GW needs to come from solar PV.
Solar park concept awarded in Hungary: Hungarian large-scale solar park developer SolServices has won a shared grand prize in the Biodiversity Conservation and Restoration category of the Business Council for Sustainable Development in Hungary (BCSDH). It won the award for its 138 MW Lumen Park Szolnok, the ‘1st’ nature-friendly solar park of its kind as it focuses on plant- and animal-friendly techniques and revitalizing soil depleted by decades of agricultural use. The company also developed a professional guide for the next-generation solar park concept that it says can serve as a blueprint for other developers who wish to create environment-friendly solar parks, adapted to local conditions.