EU backing for Barbados project: The European Union (EU) has put its weight behind the Renewstable Barbados (RSB) project that aims to integrate intermittent solar power with on-site green hydrogen storage to provide clean, reliable and round-the-clock (RTC) electricity supply for the Caribbean nation. To be located at Harrow Plantation in St. Philip, it will replace 13 MW of imported fossil-fuel generation with solar and battery storage, in combination with hydrogen storage. It is a joint initiative between the EU, Barbados and France’s HYDROGÈNE DE FRANCE (HDF Energy). On completion, it will supply electricity to 18,680 residential customers directly. The site will also accommodate a large-scale Blackbelly sheep farming facility to promote sheep grazing and green harvesting within the solar power plant and nearby areas.
The RSB project will ‘smoothly’ increase the existing renewable energy penetration on the national grid by close to 50% and contribute to the country’s target of 100% renewable energy by 2030. The International Finance Corporation (IFC), IDB Invest and the GCF are now joined by the European Investment Bank that will offer a combination of guarantees and investment grants for the project. Construction is planned to begin in February 2028 and commissioning in June 2028.
BRL 85 million bond financing in Brazil: French energy company GreenYellow has issued a new bond financing of BRL 85 million (over $14 million) to finance 5 decentralized solar energy projects in Brazil. Coordinated by the investment bank Itaú BBI, the financing process started in June 2024. The fund disbursement took place in December 2024, which will be used to refinance part of the investments already made in 5 solar plants. The issued bonds have a 16-year tenor. GreenYellow says it is among the first players to take advantage of Law 14801, adopted in March 2024. The Law 14801 facilitates investment in infrastructure projects via infrastructure debentures and tax incentives.
AFD loan for Dominican Republic project: France’s Agence Française de Développement (AFD) is supporting Spanish renewable energy multinational Ecoener to advance its 60 MW solar PV plant in the Dominican Republic. The Payita 1 Photovoltaic Plant is currently under development. The AFD, through its subsidiary Proparco, is providing a $43.1 million loan to finance the project in the province of María Trinidad Sánchez, which meets the stringent sustainability standards of the International Finance Corporation (IFC). Ecoener has secured $142 million in revenue for this project over the next 15 years thanks to a long-term power purchase agreement (PPA) with distribution company Edenorte. Ecoener currently has 5 solar plants in operation or under construction in the Dominican Republic with the potential to produce 280 MW.
90 MW project online in Argentina: Argentina-based renewable energy developer Genneia has commissioned its 1st solar PV project in the country’s Cuyo province in Mendoza, and its 4th in the country. The 90 MW Malargüe I Solar Park was built for over $90 million in investment. It is equipped with more than 160,000 state-of-the-art bifacial solar panels mounted on solar trackers. Genneia has also announced a $150 million investment for a new 150 MW solar park in San Rafael, which will join its 180 MW Anchoris Solar Park currently under construction in Luján de Cuyo.
Solar-storage PPA in Chile: Chile-headquartered independent power producer (IPP) Verano Energy has signed a 15-year power purchase agreement (PPA) with ABASTIBLE S.A. for a renewable energy project in the country. The 83 MW Domeyko project will be accompanied by 660 MWh battery energy storage system (BESS). This project in Domeyko in the III Region of Atacama, south of Vallenar will be built for an estimated $230 million. It is scheduled to start commercial operations by the end of 2026.
PVHardware trackers for Chile: Spanish solar tracker manufacturer PVHardware (PVH) has signed a deal with independent power producer (IPP) Opdenergy for the latter’s 109.76 MW solar project in Chile. The Alcones Solar Project will supply its AxoneDuo Infinity solar trackers to Opdenergy, which has signed a long-term power purchase agreement (PPA) with an international investment grade company for the PV facility.
Risen Energy and MTR Solar deal in Brazil: Risen Energy, the Chinese solar PV manufacturer, has secured a 1 GWh contract to supply its advanced energy storage systems (ESS) to Brazil’s MTR Solar in the next 2 years. Risen says it has been involved in the storage field for 19 years. MTR has already purchased 1 GW of heterojunction (HJT) solar modules from Risen Energy till June 2024. Risen Energy said this ESS deal is key to its global strategic layout. MTR is one of the company’s main partners in Latin America and brings to the table its extensive influence in the region’s PV and energy storage markets. This can open up a broader market space of Risen’s products, according to the Chinese manufacturer.