IGNIS lands €335 million to deploy 500 MW capacity in Spain; Thrive Renewables financing Ethical Power’s UK portfolio; Romania exploring 20 MW floating solar plant; JA Solar’s modules for 103.5 MW Dutch plant.
Financing for 500 MW PV in Spain: Spain’s IGNIS has raised €335 million financing to develop 500 MW solar capacity in the country. The proceeds will be deployed for projects to be initiated by the company between 2023 and 2024. IGNIS will own, operate and maintain the new solar plants, adding to its portfolio of around 5 GW of managed operating assets. Administered by Germany’s Deutsche Bank, the loan has been successfully covered by a syndicate of Rabobank, ABN Amro and Triodos Bank, stated the company.
Deutsche Bank led the financing for IGNIS to help develop its 500 MW solar portfolio in Spain. (Photo Credit: IGNIS)
£20 million for 192 MW: UK based Ethical Power has raised £20 million debt facility from Thrive Renewables to support project development of 192 MW solar and storage projects across the UK over the next 3 years to 5 years. It includes plans to build 2×25 MW battery storage sites and 4 solar facilities with a combined 142 MW capacity. Ethical Power is the principal contractor of the projects and owns the same. Thrive Renewables says this is its largest single investment to date and will enable it to double its clean energy projects portfolio that it has funded and/or built.
20 MW floating PV in Romania: The National Agency for Land Improvement of Romania (ANIF) is planning a 20 MW pilot floating solar power plant, according to a report by local media outlet Economedia. The agency wants to finance it through the National Recovery and Resilience Plan (PNRR). The idea is to install floating solar panels on the irrigation canals rehabilitated in the Galățui – Călărași area. This 20 MW capacity is expected to generate 20,400 MWh when completed by 2025-end.
Chinese modules for Dutch project: China’s JA Solar says it was contracted by the Dutch project developer Ecorus as the solar module supplier for the latter’s 103.5 MW Fledderbosch ground-mounted PV power plant in the Netherlands. Located in the province of Groningen, JA says the project will become the 2nd largest ground mounted solar power plant in the country on completion in February 2024. It is currently under construction. In July 2023, CEE Group and Goldbeck acquired the project from Ecorus (see Europe PV News Snippets).
