Europe PV News Snippets

EBRD Invests In Enefit Green, Estonian Renewable Energy Firm… & More

Europe PV News Snippets

Enefit Green plans to deploy €175 million IPO proceeds, in which EBRD has also invested €11.8 million, on developing and operating renewables, including greenfield wind and solar farms in the Baltic states and Poland. (Enefit Green AS)

  • EBRD has acquired 1.5% stake in Eesti Energia’s Enefit Green by investing in latter’s IPO
  • IGas and Iona Capital have signed up to develop solar farms in the UK, with initial project having 25 MW to 40 MW capacity
  • Powertis has completed transfer of 772 MW solar power capacity in Italy to Aquila Capital
  • EDPR to invest up to £13 billion in the UK’s renewable energy market by 2030

EBRD invests in Enefit Green: Estonia’s renewable energy company Enefit Green has secured the European Bank for Reconstruction and Development (EBRD) as 1.5% stakeholder after the bank invested €11.8 million in the company’s €175 million initial public offering (IPO). Proceeds will be deployed to develop, construct and operate renewable energy capacity including greenfield wind and solar farms in the Baltic states and Poland. Part of Eesti Energia, Enefit Green will be listed on Tallinn Stock Exchange and also included in the NASDAQ Baltics Main List. The company operates a portfolio of wind and solar energy plants, combined heat, pellet and hydroelectric projects across Estonia, Latvia, Lithuania and Poland. With the help of Enefit Green, Essti Energia aims to achieve carbon neutrality by 2045, and before that increase the renewable energy share in its portfolio to 43% by 2023 up from 36% now, and stop oil based electricity production by 2030.

IGas & Iona Capital join hands for UK Solar: UK based oil and gas company IGas has entered a partnership with investment manager Iona Capital to build large scale solar farms in the country, each with up to 50 MW capacity. The maiden project under the partnership is planned to have between 25 MW to 40 MW capacity. It marks Iona’s entry to the UK solar market. Both partners plan to share project costs and own 50% share each in the projects. Iona Capital’s Director Nick Ross said his company will establish similar development/finance partnerships with other energy companies in UK solar space.

Powertis transfers 772 MW PV in Italy: Back in December 2020, Powertis signed an agreement with Aquila Capital to develop up to 750 MW solar in Italy. Now it has completed 51% stake transfer of 772 MW capacity, exceeding the initial target for joint development of up to 750 MW. Remaining 49% share in the projects remains with Powertis. Aquila has a purchase option to acquire remaining 49% that it can exercise at ready-to-build (RTB) stage or when the projects achieve commercial operations. This deal provides EPC work to Powertism, and tracker supply contract to its owner Soltec. Powertis said its total pipeline at the end of June 2021 reached 7.1 GW, out of which Italian facilities account for 1.6 GW.

EDPR to invest £13 billion by 2030: Portugal’s EDP has said by 2030 it plans to invest up to £13 billion in the UK renewables market by 2030, through its subsidiary EDP Renewables (EDPR). This announcement follows the company’s acquisition of 544 MW wind and solar energy portfolio in July 2021 (see Europe PV News Snippets: Flanders, ZEZ, EDPR, Voltalia).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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