News & Analysis

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

Giant Solar Power Plant in Bulgaria with 400 MWp Capacity in Bulgaria small

/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.

Read more ...

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

Kazakhstan 76 MWp Solar PV Power Plant Karaganda small

/18th September 2020, EBRD, RENEWABLE MARKET WATCHTM/ The European Bank for Reconstruction and Development (EBRD) is organising a 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.

Read more ...

LG Chem Flies Unmanned Aerial Vehicle (UAV) with Next-gen Battery into Stratosphere

LG Chem EAV 3 Lithium sulfur battery small

/10th September 2020, by Lim Jeong-yeo, The Korea Herald/ LG Chem became the first company in Korea to fly an unmanned aerial vehicle using next-generation lithium-sulfur battery into the 22-kilometer-high stratosphere, the company said Thursday. The test flight, conducted on Aug. 30 jointly with Korea Aerospace Research Institute, flew the high-altitude solar unmanned aerial vehicle EAV-3 equipped with lithium-sulfur battery for a total of 13 hours. During the flight, EAV-3 was able to stably operate in the 12- to 22-kilometer-high stratosphere for seven hours, a feat previously unaccomplished by any Korean company. Carriers are typically unable to fly at that height due to the adverse conditions of temperatures below 70 degrees Celsius and vacuum-like 1/25 atmospheric pressure.

Read more ...

Romania Solar Photovoltaic (PV) Power Market Outlook 2020÷2030 with Trends, Investments, Financial Model, Analysis, COVID-19 Impact

Belarus Solar small

/11th August 2020, RENEWABLE MARKET WATCHTM/ This market report offers an incisive and reliable overview of the solar photovoltaic sector of the country for the next long term period 2020 ÷ 2030. Romania is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders the Black Sea to the southeast, Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, and Moldova to the east. It has a predominantly temperate-continental climate. With a total area of 238,397 square kilometers (92,046 sq mi), Romania is the 12th largest country and also the 7th most populous member state of the European Union, having almost 20 million inhabitants. The current cumulative installed PV capacity grew up from 29 MW in 2012 to over 1350 MW in 2018. The number of green certificates was reduced in 2014, but the Romanian market has good chances to add more cumulative installed PV capacity in the next 2 years, especially under net metering and self-consumption commercial and residential installations.

Read more ...

Sixth Energy Access Investment Forum of the Alliance for Rural Electrification

Alliance for Rural Electrification small

/21st July 2020, Alliance for Rural Electrification (ARE), RENEWABLE MARKET WATCHTM/ In light of the transitory global situation with COVID-19 and the precautionary measures implemented by the Zambia Ministry of Health to quarantine all international travellers for 14 days, ARE has decided to postpone the 6th ARE Energy Access Investment Forum to 17-18 March 2021. EAIF is a well-established political exchange and business event organised by ARE with local and regional partners - aimed at assisting the private and public sector to get up to speed on the latest developments in the off-grid sector and do business. The ARE Forum is supported by our long-standing partner GET.invest, a European programme that mobilises renewable energy investments.

Read more ...

Renewable Power Generation Costs Reduction Overview in the Recent Study of IRENA

Renewable Power Generation Costs Reduction Overview in the Recent Study of IRENA small

/26th June 2020, IRENA, RENEWABLE MARKET WATCHTM/ Installing new renewables increasingly costs less than the cheapest fossil fuels. With or without the health and economic crisis, dirty coal plants were overdue to be consigned to the past. Newly installed renewable power capacity increasingly costs less than the cheapest power generation options based on fossil fuels. The cost data presented in the recent comprehensive study from the International Renewable Energy Agency (IRENA) confirms how decisively the tables have turned. Next year, up to 1 200 gigawatts of existing coal-fired capacity could cost more to operate than new utility-scale solar photovoltaic (PV) costs to install, the report shows. Replacing the costliest 500 gigawatts of coal capacity with solar and wind would cut annual system costs by as much as USD 23 billion per year and reduce annual carbon dioxide (CO2) emissions by around 1.8 gigatonnes, or 5% of last year’s global total. It would also yield a stimulus worth USD 940 billion, or around 1% of global GDP.

Read more ...

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

Kazakhstan Continues its Ambitious Plans for Renewable Power Capacity Increase small

/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.

Read more ...

Hungary Solar Photovoltaic (PV) Power Market Outlook 2020 - 2030 with Trends, Investments, Financial Model, Analysis, COVID-19 Impact

Hungary Solar Photovoltaic PV Market Outlook 2020 2030 small

/2nd June 2020, RENEWABLE MARKET WATCHTM/ With a land area of 93,028 km2, Hungary is a landlocked country in Central Europe. It measures about 250 km from north to south and 524 km from east to west. It has 2,106 km of boundaries, shared with Austria to the west, Serbia, Croatia and Slovenia to the south and southwest, Romania to the southeast, Ukraine to the northeast, and Slovakia to the north. The country’s landscape is mostly flat. The population was 9.82 million and the current gross domestic product (GDP) was $155.7 billion as of 2018, according to the Hungary Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030. Under Hungary’s National Energy Strategy up until 2030, Hungary will aim at ensuring the long-term security of energy supplies and increasing the share of renewable sources in its electricity generation mix, particularly solar photovoltaic, but also notes that fossil fuels, mainly natural gas, will be necessary for future generations. Hungary is ranked among top 10 countries by attractiveness for solar photovoltaic (PV) energy investments among CEE & SEE countries by Renewable Market Watch™ in their yearly updated "Attractiveness index for solar photovoltaic (PV) energy investments in CEE & SEE countries in 2020". The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources and nuclear sources.

Read more ...

New Horizons for the Solar Photovoltaic (PV) Power Market of Romania

New Horizons for Solar Power Market Romania small

/18th May 2020, RENEWABLE MARKET WATCHTM/ Romania had the cumulative installed capacity of 1,390 MW (1.39 GW) as of 1st January 2020, according to the recently published report Romania Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030. The photovoltaic development in Romania was started with small scale photovoltaic installations below 30 KW in 2006. In opposite to the rapid expansion of the wind market in Romania, the photovoltaic power capacity remained relatively unchanged by the end of 2011. After that Romania was an emerging market for photovoltaic energy investments amongst SEE countries by the end of 2014. The maturing photovoltaic markets in Germany, Spain, France, Czech Republic, Greece, Italy and Bulgaria allowed investors to look for new opportunities among South East European (SEE) nations and Romania was one of the best alternatives. Furthermore, Romania was one of the major destinations for the Chinese solar power plant investors in Central and Eastern Europe between 2012 and 2015. By the end of 2011, the country had approximately 3 MW installed capacity, by the end of 2012 this capacity increased fourteenfold to approximately 42 MW, and with a more than thirty-fold explosive growth cumulative installed capacity reached 1,293 MW (1.29 GW) by the end of 2014. However, solar photovoltaic market growth in Romania between 2015 and 2019 was moderate with only 97 MW newly installed capacity in this period.

Read more ...

Podvelezje Wind Farm Construction with 48 MW Capacity Started in Bosnia and Herzegovina

Podvelezje Wind Farm Bosnia and Herzegovina small

/17th May 2020, EPBiH, RENEWABLE MARKET WATCHTM/ In the Podveležje region of Bosnia and Herzegovina, works have begun in the beginning of this week on the construction of 15 wind turbines with the accompanying foundations of the "Podveležje 1" wind farm with 48MW power capacity, which officially opened the construction site, reported the Renewable Market Watch™. After the mobilization and establishment of container accommodation for the stay of the contractor's staff, drilling the ground for the placement of explosives, work began on the excavation of pits for the foundations of future wind turbines. The terrain for the future two foundations was blown up, and the works will continue with the planned dynamics in the coming weeks. In order to ensure safety during blasting, all legal measures have been taken beforehand. The contractor for the construction of the Wind Farm is the consortium between Croatian branch of Siemens Gamesa Renewable Energy Ltd. and Wind Power A/S from Denmark. On the construction of foundations and execution of blasting works, engaged as domestic companies HP Investing doo Mostar and Blasting doo Sarajevo. The wind farm "Podveležje" is financed by credit funds the German Development Bank - KfW and its own funds Elektroprivreda BiH.

Read more ...

Live Chat