• Net Metering and Self-Consumption Solar PV Market Development in Cyprus

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    /26th March 2018, RENEWABLE MARKET WATCHTM/ Cyprus is located at the Eastern Basin of the Mediterranean Sea with a subtropical climate. With an area of 9,251 km² and coordinates at 35°N and 33°E, Cyprus lies at the crossroads of Europe, Africa and Asia at the crux of the busy shipping and air routes linking the three continents. The solar irradiation in Cyprus is one of the highest in Europe with more than 320 days of the year considered sunny. Meteorological measurements showed that the annual solar irradiation is approximately 2,002 kWh/m² with a standard deviation of 32 kWh/m². According to Photovoltaic Geographical Information System (PVGIS), measurements taken from crystalline PV systems with inverter efficiency 96 %, showed an average annual yield of 1,672 kWh/kWp. The rapid decline on solar PV  technology costs, the attractive efficiency increase on  PV  modules available for the residential sector and European Parliament public policies on energy to address the climate change issue have substantially increased the number of consumers that have decided to start producing energy under net metering and self-consumption solar support schemes in Cyprus.

  • Net Metering Cumulative Solar PV Capacity in Ukraine is 121 MW at the end of Q3 2018

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    /31st October 2018, RENEWABLE MARKET WATCHTM/ Decline in solar PV equipment costs in the past few years, the attractive efficiency increase on PV modules available for the residential sector and state support on renewable energy to address the climate change issues have substantially increased the number of consumers producing energy under net metering and self-consumption solar support schemes in Ukraine. The State Agency for Energy Efficiency and Energy Saving of Ukraine (SAEE) has reported that over 3,000 households have installed residential solar photovoltaic (PV) installations, which is 2.5 times more than in the same period in 2017 (1,214 households). Regarding the solar radiation, Ukraine is placed in the European zone in category “B”. Ukraine has a large potential market for solar energy projects. The size of solar radiation reaches from 800 to 1,450 W/m² per year. According to the intensity of solar radiation Ukraine can be divided into 4 regions: West, Central, South-East and South. The average amount of solar energy received annually in Ukraine is about 1,200 kWh/m2.

  • 76 MWp Solar Power Plant in Kazakhstan Secured USD 42.6 million Financing Package from EBRD, GCF and CIF

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    /18th September 2020, EBRD, RENEWABLE MARKET WATCHTM/ The European Bank for Reconstruction and Development (EBRD) is organising new financing for the construction of a 76MWp solar plant in the Karaganda region of Kazakhstan, a leader in the development of renewable energy in Central Asia, with a total installed solar capacity of 216MWp. The US$ 42.6 million package provided to the well-established German developer Joachim Goldbeck Holding GmbH will consist of an EBRD local currency loan of up to US$ 28 million (Kazakh tenge equivalent), a concessional loan of up to US$ 11.5 million provided by the Green Climate Fund (GCF), the world’s largest climate fund and a concessional loan of up to US$ 3.1 million provided by the Climate Investment Funds’ Clean Technology Fund (CTF). The new solar plant will help reduce annual CO2 emissions by more than 80,000 tonnes and contribute to meeting Kazakhstan’s national emission reduction targets as well as the EBRD’s Green Economy Transition strategy.

  • Belgium Solar Photovoltaic (PV) Power Capacity Exceeded 6 GW in 2020 - Trends, Investments, Forecast, COVID-19 Impact, Renewable Market Watch

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    /26th February 2021, SolarPower Europe, RENEWABLE MARKET WATCHTM/ Belgium recorded its best year for new installations as cumulative installed solar photovoltaic capacity exceed 10 GW at the end of 2020. A study conducted by Ecofys, suggests that Belgium could set a renewable energy target between 22,5% and 27,2%. The association recommends an objective at 25% renewables minimum. Solar photovoltaic (PV) power in Belgium had a strong performance in 2020 despite the negative health, social and economic effects of the COVID-19 (Coronavirus) pandemic, revealed the recent update of Europe Solar Photovoltaic (PV) Power Market Outlook: 2021 ÷ 2030.  Each of Belgium’s three regions has its own regulatory framework for solar and renewable energy. The country has the potential to reach 18 GW of solar capacity by 2040, according to the grid operator Elia. Solar PV developments have very good prospects in Belgium as solar technology costs are going down.

  • Big Rush for Solar Photovoltaic Installations in Estonia

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    /3rd April 2019, RENEWABLE MARKET WATCHTM/ Estonia is the second-largest emitter of CO2 per capita in the European Union and by far the most carbon-intensive economy among the OECD countries. The reason for that is oil shale, a sedimentary rock that has been mined in Estonia for electricity generation since the fifties and, since recently, has also been used for liquid diesel fuel production. Over 90 per cent of Estonia’s CO2 emissions come from burning oil shale for electricity, and oil shale contributes significantly to other pollution and waste levels in the country. The high concentrations of pollutants create health problems for local people: children living in the oil shale area have more respiratory diseases and are projected to live four years less on average. The country’s energy development plan 2030 commits to reducing the number of early deaths resulting from pollution by 50 per cent by 2030. With the rising CO2 prices, electricity production is getting very expensive and new renewable energy sources are taking over the market. Solar energy is booming in Estonia and is expected to intensify after 2020 due to near-zero energy buildings' requirements.

  • Boost in New Solar PV Capacity Installations in Lithuania under Improved Net Metering Scheme

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    /26th February 2018, RENEWABLE MARKET WATCHTM/ Lithuania’s new government supports renewable energy and intends approximately 200 MW of new residential and commercial solar photovoltaic (PV) capacity under an improved net metering scheme to be installed in Lithuania over the next three years. In Lithuania, renewable electricity generation plants with the total installed capacity of up to and including 10 kW are promoted through a sliding feed-in premium, i.e. the difference between the guaranteed tariff and the sale price for electricity generated from RES. This price shall not be lower than the average market price of the previous month. It shall be calculated according to the procedure set by the NCC (Chapter III Art. 20 Par. 2 and 14 Law on Energy from Renewable Sources).

  • Briska Gora Solar Photovoltaic Power Plant in Montenegro with Increased Capacity to 262 MW

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    /26th October 2020, Dnevne Novine, Crnogorski ekonomski, RENEWABLE MARKET WATCHTM/ The Government of Montenegro stated that all preconditions have been created for the construction of the solar power plant "Briska Gora" on an area of ​​as much as 925.25 hectares, is twice as large as previously planned, Dnevne Novine writes. Amendments to the Spatial Development Plan in Ulcinj, Montenegro propose to increase the zone for the construction of a solar power plant from 467 hectares to 925.25 hectares. "It is proposed to increase the solar power plant's capacity from 118 MW to 262 MW". This is stated in the new government information on preparing documentation for the needs of development projects. Montenegro will need to invest in additional power generation capacity in the coming years to compensate expected decommissioning of the existing Pljevlja coal plant, according to the Western Balkans Solar Photovoltaic (PV) Power Market Outlook 2020÷2030. The country has no infrastructure for natural gas distribution and does not currently extract oil, though the government is interested in oil and gas production in the Adriatic Sea.

  • Bulgaria and Romania with Gigawatt New Capacity Additions in Solar Photovoltaic (PV) Power by 2024

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    /18th December 2020, RENEWABLE MARKET WATCHTM/ Solar photovoltaic (PV) power in the European Union had a strong performance in 2020 despite the negative health, social and economic effects of the COVID-19 (Coronavirus) pandemic, revealed the recent update of Europe Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030.  The EU member states installed 18.2GW of solar power capacity in 2020, an 11% improvement over the 16.2GW deployed in the previous year, according to the recently released report EU Market Outlook for SolarPower 2020-2024 by SolarPower Europe. With minimal solar power installation activity in Bulgaria and Romania in the last few years, the prediction model of SolarPower Europe shows the up-and-coming gigawatt new solar photovoltaic (PV) capacity addition opportunities for Bulgaria and Romania by 2024. SolarPower Europe’s growth assumptions are much higher than the targets formulated by EU member states in their National Energy and Climate Plans (NECP). But with drivers for solar energy in Europe only getting stronger, the foundation is laid for further rapid growth in the coming years.

  • Bulgaria Solar Photovoltaic (PV) Power Market: Outlook 2020 - 2030 by Renewable Market Watch with Trends, Forecasts, Investments, Opportunities, Analysis

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    /16th April 2021, RENEWABLE MARKET WATCHTM/ Development of operational solar PV power plants in Bulgaria started with very moderate steps in 2007 but progressed with fast paces after the second half of 2010. At the end of 2018 cumulative installed solar PV capacity in Bulgaria reached 1,036 MW. Several large scale solar photovoltaic (PV) projects with a capacity above 50 MW have been announced in Bulgaria after 2018 and these projects will be built between 2021 and 2024. In the last few years, Bulgaria has been the focus of the investors’ interest. The political stability and predictability due to the NATO membership and to the EU accession, the stable economic perspective and the growing credit rating of the country and its institutions were only some of the elements attracting the investors’ interest. External investors have been attracted by rapidly developing national industry, highly skilled workforce and significant new market.

  • Croatia Solar Photovoltaic (PV) Power Market Development in the Clean Energy Transformation Context – Insights, Political Climate, Energy Strategy, Forecast, Renewable Market Watch

    Croatia Solar Photovoltaic PV Power Market Development Renewable Market Watch small

    /12th May 2021, RENEWABLE MARKET WATCHTM/ This decade shall be crucial for the clean energy transformation of Croatia, reveals the Renewable Market Watch™ in its report Western Balkans Solar Photovoltaic (PV) Power Market Outlook 2021÷2030. The country has considerable potential for developing solar energy and increasing energy independence. The energy transition council of Croatian President Zoran Milanović was established in 2020 and estimated the country’s solar potential to 6.8GW. However, to harness this potential effectively, Croatia will need to adopt more ambitious solar energy targets, ensure clear renewable energy investment direction in the power sector, and develop its modern electricity grid. The clean energy transition and development of the solar power sector can contribute to GDP growth and new jobs creation. Renewable Market Watch estimates that solar photovoltaic power capacity in Croatia will increase significantly in the following years compared to its current level assuming the tendered and planned large scale projects. The abundance of solar irradiation in Croatia shall enable photovoltaic energy to become an increasingly cost-competitive power generation source and attract new investments.

  • Energy Infrastructure Partners (EIP) will Acquire a 49 per cent Stake in BayWa r.e. Renewable Energy GmbH

    EIP will Acquire a 49 per cent Stake in BayWa r.e. Renewable Energy GmbH small

    /23rd March 2021, BayWa r.e. Renewable Energy GmbH/ BayWa AG has been given the green light for the capital increase at BayWa r.e. renewable energy GmbH (BayWa r.e.) by an external investor. The regulatory approvals by the responsible supervisory authorities in Germany, Austria and Australia have laid the foundation for the largest transaction in BayWa’s corporate history: Funds advised by the Swiss investor, Energy Infrastructure Partners (EIP), will acquire a 49% stake in BayWa r.e. with an equity contribution of €530 million. The transaction is expected to be completed in March. BayWa AG will remain the majority shareholder with a 51% stake.

  • First Agri-PV Research Facility for Apples in Germany Launched by BayWa r.e., Fraunhofer and Partners

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    /14th October 2021, BayWa r.e. Renewable Energy GmbH, Fraunhofer ISE/ BayWa r.e., a pioneer in Agri-PV solutions, and the Fraunhofer Institute for Solar Energy Systems ISE, together with other research partners, have built the first Agri-PV research facility for apples and espalier fruit at the Nachtwey organic fruit farm in Gelsdorf in Rhineland-Palatinate, Germany. The primary objective of the project, which is funded by the German Ministry of Environment, Energy, Food and Forestry of Rhineland-Palatinate (MUEEF) and the Federal Ministry of Food and Agriculture (BMEL), is to increase climate resilience in fruit growing and to ensure safe and sustainable apple production with additional solar power generation. As part of the project, which will run for five years, numerous factors will be investigated on eight varieties of apple.

  • Fortum Targets Gigawatt-Scale Portfolio in Russian Solar PV and Wind Power Markets

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    /27th September 2017, FORTUM, RENEWABLE MARKET WATCHTM/ One of Fortum’s overall targets is to create a gigawatt-scale portfolio in solar and wind power. As part of this, the company has increased its renewable capacity in Russia. Fortum took a major step in late 2017 with the Bugulchanskaya, Grachevskaya, and Pleshanovskaya solar power plants' acquisition, when it gained 35 MW of solar power capacity. Altogether, the three plants are capable of fulfilling the electricity needs of about 7,000 households. Russia’s Ministry of Energy recently reported that more renewable capacity was put into operation in 2017 than in the two previous years combined, with solar power plants accounting for the bulk of the 140 MW of newly commissioned capacity. According to Russia Wind Power Market Outlook 2018 - 2027, the country has abundant oil, gas and coal production capacity backed up by enormous reserves. Still, it also has the potential to be a giant in the area of renewable energy.
  • France Surpassed 10 GW Cumulative Installed Solar Photovoltaic Capacity in 2020

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    /12th January 2021, SolarPower Europe, RENEWABLE MARKET WATCHTM/ France crossed the significant capacity threshold of 10 GW installed in 2020. It is now halfway towards its MAEP (Multi-Annual Energy Programme) goal of 20.1 GW of solar capacity by 2023, according to SolarPower Europe. Secondly, despite the impact of the pandemic, France produced 4.46 TWh of solar in the third quarter of 2020, thereby beating its record from 2019 (4.43 TWh). This is a significant achievement and an important step towards building back better. Solar photovoltaic (PV) power in the European Union had a strong performance in 2020 despite the negative health, social and economic effects of the COVID-19 (Coronavirus) pandemic, revealed the recent update of Europe Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030.  The climate targets that have been set are also promising. The Climate & Energy Law adopted last year confirmed the Energy Transition for a Green Growth law with 2030 targets. The detailed MAEP sets out the requirements for each type of technology, and the targets for 2028 now lie between 35.1 GW and 44 GW in cumulative capacity. To keep in line with these targets, the annual market growth rate will need to rise to 2 GW/year between now and 2023, and then 4 GW/year between 2023 and 2028. As a result of these targets, solar is positioned to be one of the most important contributors to the French energy transition.

  • Fronius Energy Storage Solution for Solar PV Self-Generation

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    /18th June 2018, RENEWABLE MARKET WATCHTM/ There is clear trend solar photovoltaic (PV) sector’s growth in Europe is moving towards self‑consumption and net metering according to recently published report Europe Net Metering and Self-Consumption Solar PV Market Outlook 2017 - 2026. According to industry analysts of Renewable Market Watch™, this trend may be expected to continue, as the EU administration is working to establish new more effective business and regulatory framework to stimulate distributed solar photovoltaic (PV) and other decentralized renewable energy sources. Along with the net metering and self-consumption solar PV market growth in Europe, Fronius present excellent and innovative energy storage solution. The goal of the Fronius Energy Package storage solution is to facilitate consumption of as much of the self-generated PV power as possible at source and store surplus energy for when it is needed.

  • Giant Solar Photovoltaic (PV) Power Plant in Bulgaria with 400 MWp Capacity is Planned in Bulgaria by Austrian Investor Enery Development

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    /28th September 2020, RENEWABLE MARKET WATCHTM/ Тhе Мunісіраl Соunсіl оf Наѕkоvо hаѕ іѕѕuеd at the end of August 2020 рrеlіmіnаrу аррrоvаl fоr thе соnѕtruсtіоn оf а giant solar рhоtоvоltаіс (PV) power рlаnt with 400 MWp capacity nеаr thе vіllаgеѕ оf Кnіzhоvnіk аnd Dоlnо Vоуvоdіnо, located in the Haskovo District of South Bulgaria. Тhе іnvеѕtоr whо wіll buіld thе рlаnt іѕ Еnеrу ВG 1, whісh іѕ а рrојесt соmраnу оf thе Аuѕtrіаn hоldіng Еnеrу Dеvеlорmеnt GmbН. Тhе рhоtоvоltаіс power рlаnt іѕ ехресtеd tо gеnеrаtе 560,000,000 КWh оf сlеаn еnеrgу аnd ѕаvе 650,000 tоnѕ оf саrbоn dіохіdе еmіѕѕіоnѕ реr уеаr, according to the company. Furthermore, it will open over 50 permanent jobs and additional jobs during the construction phase of the project that will take up to 12 months. Vіеnnа-bаѕеd Еnеrу Dеvеlорmеnt, fоundеd іn 2019, іѕ аn іnvеѕtmеnt соmраnу fоr rеnеwаblе еnеrgу іnfrаѕtruсturе thаt рrоvіdеѕ сlеаn еnеrgу tо іtѕ сuѕtоmеrѕ.

  • Hungary Renewable Energy Transition Presents New Excellent Opportunities for Investors and Developers in Solar Photovoltaic (PV) and Wind Power Projects

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    /LONDON, September 29, 2021, 10:30 BST, RENEWABLE MARKET WATCHTM/ The country’s primary strategy to meet the growing need for power includes reducing energy dependence by increasing energy efficiency, renewable resources, natural gas, nuclear sources and connecting to the European power infrastructure. The country imports nowadays approximately 30% of its power (the main import countries are Slovakia, Austria, and Ukraine, while the main export countries are Croatia and Serbia). Hungary is ranked among the top 10 countries by attractiveness for solar photovoltaic (PV) energy by the Renewable Market Watch in their yearly updated "Attractiveness index for solar photovoltaic (PV) energy investments in Central-East Europe (CEE) and South-East Europe (SEE) countries in 2021". Between 2015 and 2020, cumulative installed solar power capacity in Hungary registered an impressive 11-fold increase. In June 2020, Hungary adopted a new law making the net-zero emission target by 2050 a binding obligation. This law is part of a broader change in the country’s energy and climate policies.

  • Hungary to Increase Solar Photovoltaic (PV) Capacity

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    /17th January 2018, RENEWABLE MARKET WATCHTM/ The Hungarian Government is willing to establish a sustainable energy economy in all aspects, where beside environmental and social sustainability, cost-effectiveness also prevails. The expansion of renewable energy systems can help to decentralize our power supply system, and it opens up new directions of development such as a smart grid system. Hungary imports nowadays approximately 30% of its power. In the meantime, 50% of the country’s power is generated from a single nuclear plant (Paks Nuclear Power Plant). János Lázár, the minister heading the Prime Minister’s Office announced in the middle of December 2017, the government’s plans to minimize Hungary’s energy imports in the next 10-20 years. He said Hungary should cover one half of the country’s total demand from the upgraded Paks Nuclear Power Plant, and the other half from solar photovoltaic (PV) power plants.

  • Iberdrola is Already Among the Key Market Players in the UK with the Acquisition of 800MW Solar Photovoltaic (PV) Projects

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    /LONDON, January 17, 2022, 9:15 GMT, Iberdrola, RENEWABLE MARKET WATCHTM/ Iberdrola, through its British subsidiary ScottishPower has signed two deals to acquire 17 solar photovoltaic (PV) projects in the UK, with a combined capacity of more than 800 MW. The contracts have been concluded separately with Elgin Energy, which owns 12 projects, and Lightsource BP, which controls the rest. Both companies are experienced developers with a long track record in renewable energy. The projects, across England, Scotland and Wales, are in advanced stages of development and will be operational by 2025 with a total investment of approximately £500 million (around €600 million). This portfolio of solar sites will add enough clean energy to power over 220,000 homes.

  • Kazakhstan Continues its Ambitious Plans for Renewable Power Capacity Increase and Pursues Clean Energy Leadership Position Among the CIS States

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    /25th June 2020, RENEWABLE MARKET WATCHTM/ In the first quarter of 2020, the share of green electricity generated in the total amount of energy generated in Kazakhstan was 1.8%. This is 58% more than for the same period in 2019. Renewable energy development in Kazakhstan is accelerating. For three years, the amount of green energy generated has doubled. In 2017 renewable energy power plants in the country generated 1.1 billion kWh, while in 2019 this figure was 2.4 billion kWh. The state plans in 2020 to bring this figure to 3.15 billion kWh. According to the Kazakhstan Solar Photovoltaic (PV) Power Market Outlook 2020 ÷ 2030, electricity consumption in Kazakhstan will continue to show steady growth. Electricity consumption amid the development of the Kazakh economy shall increase by 2030 to 133.8 billion kWh, and by 2050 - to 162.7 billion kWh. The growing demand for electricity and the decommissioning of old power plants due to physical wear and tear in Kazakhstan will require significant construction of new power capacities: 10-15 GW by 2030 (which corresponds to approximately 60% of installed capacity for 2012) and 35-40 GW by 2050. This creates incredible opportunities for investors in renewable energy projects.

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