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United Energy Group (UEG) Signed а Deal to Acquire the Bulgarian Developer Green Profit with a 250 MW Solar Photovoltaic Project with a Building Permit

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/SOFIA, April 1, 2024, 10:00 BST, RENEWABLE MARKET WATCHTM/ Ms. Mila Nenova, Executive Director of the Bulgarian Investment Agency (BIA), was a special guest at the official contract signing ceremony. United Energy Group (UEG) is a Hong Kong-listed energy company with a strong focus on traditional oil and gas sectors and the development of green energy projects. Over the years, UEG has demonstrated steady growth in renewable energy initiatives, successfully building wind and solar projects in Pakistan, Iraq, Egypt, and others. UEG has recently expanded its presence in the European energy market and is currently negotiating the acquisition of renewable energy projects with a total capacity of over 1 GW. UEG's executive chairman and vice president (UEG), Leslie Zhang, attended the event.

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The EU Mission Label was Awarded to 23 Cities as Part of the EU Mission for Climate-Neutral and Smart Cities

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/BRUSSELS, March 21, 2024, 11:00 GMT, European Commission, RENEWABLE MARKET WATCHTM/ Today, the EU Mission Label was awarded to 23 cities as part of the EU Mission for Climate-Neutral and Smart Cities, one of the EU Missions under Horizon Europe. The Label recognises the cities' plans to achieve climate neutrality by 2030 and aims to facilitate access to public and private funding towards that objective. The first ten cities received the Label in October 2023. The EU Mission Label was awarded by Iliana Ivanova, Commissioner for Innovation, Research, Culture, Education and Youth during a ceremony with mayors and city representatives at the EU Research & Innovation Days, the biggest forum in Europe to discuss the future of science and innovation and to co-create solutions with citizens and stakeholders.

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Renewable Market Watch™ Published New Report Titled “Europe Solar Photovoltaic (PV) Power Market Outlook by Segment (Residential, Commercial, Industrial and Utility) - Growth, Industry Analysis, Deals, Share, Size, Trends and Forecast 2024 – 2033”

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/LONDON, March 5, 2024, 9:00 GMT, RENEWABLE MARKET WATCHTM/ The growth of the European solar power market in 2023 had a remarkable performance. The annual installed capacity solar photovoltaic (PV) capacity in Europe reached 307 GW at the end of 2023, which is a 24 per cent increase compared to 247.6 GW at the end of 2022, according to the recently published study Europe Solar Photovoltaic (PV) Power Market Outlook 2024 ÷ 2033. Germany was again the largest market in 2023, adding a record 14.1 GW of new capacity, followed by Spain (8.22 GW), Poland (4.6 GW), Netherlands (4.5 GW), and Italy (4.9 GW). In the EU-27 member states, the solar PV market scored the best solar year in history with growth in annual installed capacity by 40 per cent in 2023, from 40 GW in 2022 to 56 GW in 2023.

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The Romanian Ministry of Energy has Reissued Two Tenders for Solar Photovoltaic Technology and Battery Storage with a Combined Budget of €278 Million

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/LONDON, February 8, 2024, 10:00 GMT, RENEWABLE MARKET WATCHTM/ The Ministry of Energy in Romania has announced the relaunch of a competitive call for tender for battery storage projects. The objective of the call is to put into operation a minimum of 240 MW of electricity storage in batteries, which equals 480 MWh, by June 30, 2026. The aim is to contribute to Romania's National Recovery and Resilience Plan (NRRP) objectives. The call for tender is now open until March 21, 2024. The Ministry's announcement on February 8 stated that the battery energy storage system (BESS) facilities would have a duration of two hours and would be used for the grid integration of renewable energy. The Ministry has issued a technical guide for selection criteria, which includes funding for equipment, installation, and construction of BESS.

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Renewable Market Watch™ published a new report titled 'Europe Corporate Renewable PPA Market Report - Industry Analysis, Deal Tracking, PPA Prices, Growth, Investment Volume, Comparative Country Ranks, Share, Size, Trends, and Forecast 2024 – 2033'

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/LONDON, January 29, 2024, 09:00 GMT, RENEWABLE MARKET WATCHTM/ The European corporate renewable PPA market has proliferated by an almost seven-fold increase from 2016 until 2023. EU energy ministers agreed at the end of November 2022 on the content of a Council Regulation for a temporary framework to accelerate the permit-granting process and the deployment of renewable energy projects. The European Institutions have agreed in 2023 on a revised text of the EU Renewable Energy Directive (RED III), which should help further speed up permitting for new and repowered renewable energy projects. Reducing permitting burdens shall contribute to corporate PPAs, which is essential for the European Union (EU) to achieve energy independence and its REPowerEU targets. Many companies use corporate PPAs to hedge against unpredictable energy prices, reveals the recently published study Europe Corporate Renewable PPA Market Report 2024÷2033. Amazon, Google, Alcoa, Norsk Hydro, BASF, Bayer and Microsoft are among the key players in the market. This report provides further evidence that faster corporate PPA deployment would support transitioning to a European climate-neutral society and be beneficial economically.

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