The European Investment Bank (EIB) revealed during its July meeting a decision to elevate the additional funding designated for projects that align with the REPowerEU initiative to $50 billion (€45 billion). This new funding allocation builds upon the EIB’s already significant commitment to clean investments and marks a 50% increase from the original €30 billion REPowerEU package announced in October of the previous year.

The EIB also decided to expand the range of sectors eligible for support under this package. Now, sectors such as solar photovoltaic and thermal technologies, both onshore and offshore wind, battery storage, heat pumps, geothermal solutions, electrolyzers, fuel cells, sustainable biogas, carbon capture, and grid technologies are eligible. Furthermore, investments related to the extraction, processing, and recycling of essential raw materials connected to these technologies will receive backing from the EIB. This support aims to enhance the EU’s manufacturing capabilities for advanced strategic net-zero technologies and products.

“We are utilizing the full spectrum of our financial resources to bolster Europe’s industrial prowess, manufacturing capacity, and the deployment of vital technologies. This will facilitate a rapid and equitable transition to net zero,” stated Werner Hoyer, President of the EIB.

The REPowerEU initiative, launched by the European Commission in May 2022, is focused on aiding the EU in conserving energy, generating clean energy, and diversifying its energy portfolio. A significant aim of REPowerEU is to encourage substantial investment in renewable energy sources. Over the past year, with REPowerEU’s support, more than 41 GW of new solar capacity has been installed.

The combined additional funding is anticipated to spark over €150 billion in investments within targeted sectors by 2027.

Furthermore, in February, the European Commission announced the Green Deal Industrial Plan, emphasizing expedited financial access as a crucial pillar. This plan is designed to complement ongoing efforts under the European Green Deal and REPowerEU. “Enhanced financial accessibility will enable our principal clean tech industries to expand swiftly,” remarked Ursula von der Leyen, President of the European Commission, in a press release.

In addition to the enhancements to its REPowerEU package, the EIB endorsed €10 billion for various projects in energy, innovation, business investment, education, and restoration of water infrastructure damaged by the earthquake in Turkey.

Menlo Electric, a rapidly expanding Polish supplier of PV modules and inverters throughout the EMEA region, has declared its move into the Middle East and North Africa markets.

These regions, boasting abundant solar radiation, have established pertinent regulations aimed at combating climate change and promoting energy transition through solar power. Notably, South Africa has set an ambitious target to achieve 19-GW of renewable energy capacity by 2030, largely through solar initiatives. Since entering the South African market in January this year, Menlo Electric has swiftly captured approximately 10% of the market share.

Menlo Electric’s drive to penetrate these new markets is fueled by its dedication to delivering top-tier solar components coupled with exceptional customer service. A crucial element of their strategy involves partnerships with numerous esteemed brands that have been previously underrepresented in the region, according to Bartosz Majewski, CEO of Menlo Electric. These partnerships include alliances with Deye, Tongwei, Jinko Solar, and Sungrow. At Intersolar 2023, Menlo Electric and Sungrow secured a commitment of 2 GW.

Majewski further remarked, “Our alliances with companies like Deye and Tongwei, and selectively with Jinko and Sungrow in particular markets, allow us to offer customers a robust portfolio of high-quality PV components tailored to their unique requirements. These strategic partnerships enable us to provide premium renewable energy solutions to our clients at competitive rates.”

A vital component of Menlo Electric’s market entry strategy is the emphasis on hiring local technical teams. This approach ensures comprehensive customer support, creates employment opportunities in the region, and offers technical training and support for local merchants, wholesalers, and installers.

Navigating the cultural, linguistic, and business diversity within the EMEA region poses significant challenges for many foreign solar component manufacturers. Menlo Electric’s example reflects an increasing trend where professional local distributors are anticipated to emerge, facilitating the regional presence of foreign manufacturers. For solar companies, this represents an effective avenue for expansion within the region.

This strategic expansion underscores Menlo Electric’s commitment to excellence and innovation, setting a notable example in the renewable energy landscape.

JinkoSolar, a global heavyweight in solar module production, has made headlines by announcing a significant dispatch of more than 220,000 Tiger NEO TOPCon bifacial 72 modules, destined for the Verila Solar Power Plant, Bulgaria’s largest solar venture. This monumental delivery isn’t just pivotal for Bulgaria; it marks a prominent moment in Europe’s renewable energy landscape.

Nestled on the southern slopes of Verila Mountain, close to the village of Kraynits, the 123-MW Verila plant resides at an elevation ranging from 700 to 1,000 meters above sea level. It occupies 1,300 acres of undulating, steep terrain, offering both a formidable engineering challenge and a thrilling opportunity for innovation.

This endeavor is a substantial leap forward for Bulgaria, poised to boost the country’s solar capacity by a notable 7%, representing a critical stride in its shift towards renewable energy sources. It’s a significant indication of advancement in a region that has traditionally been slow to move away from fossil fuels.

Frank Niendorf, General Manager of JinkoSolar Europe, praised the achievement as a reflection of JinkoSolar’s cutting-edge TOPCon technology, serving as a guiding light for the renewable energy transition throughout Europe. “The Verila project will not only set a benchmark in Bulgaria but will also be a standard-bearer across Europe for the renewable energy transition,” he stated. “It stands as one of the largest projects ever constructed in Europe utilizing TOPCon bifacial modules, and JinkoSolar is extremely proud to contribute to such an essential milestone for our industry.”

TOPCon technology represents an advancement over PERC (Passivated Emitter Rear Contact) solar cells, with enhanced passivation in the contact structure that significantly diminishes recombination losses, thereby elevating overall cell efficiency.

Numerous manufacturers are integrating this technology into their product lines. The European market has witnessed substantial growth in the adoption of TOPCon modules, highlighted by Astronery’s distribution of 154.4-MW TOPCon modules to Germany in March and Trina Solar’s plan to supply over 1-GW of TOPCon modules to various European projects within the next three years.

Modus Asset Management, a firm officially authorized in the realm of fund management, has successfully concluded the inaugural phase of distributing its recently introduced Clean Energy Infrastructure Fund. This initiative, structured as a closed-end fund specifically for sophisticated investors, garnered a commendable €85 million ($91 million) in commitments at the first closing. Among the prominent participants were the European Investment Fund (EIF) and leading pension funds from the Baltic region.

Povilas Pečiulis, CEO of Modus Asset Management, emphasized that the management team has demonstrated exceptional proficiency in renewable energy investments. The fund boasts the highest sustainability ranking, classified as Dark Green, and it is aimed at long-term investment goals.

“The Clean Energy Infrastructure Fund is set to advance the region’s shift towards renewable energy by supporting local developers and creating a robust investment platform at an institutional level,” stated Pečiulis.

The fund plans to invest in various projects involving solar photovoltaic, wind energy, and combined battery storage across the Baltic States, Poland, and other parts of Central Europe. It has a planned investment period of five years and a total lifecycle of ten years, targeting projects that are either in the late-development phase, ready-to-build stage, or involve turnkey transactions, with an envisioned installed capacity totaling 600 MW.

Pečiulis noted that the completion of the first distribution phase underscores the appeal and stability of renewable energy infrastructure investments.

Marjut Falkstedt, Chief Executive of the European Investment Fund, remarked, “Contributing to the EU’s green transition is a top priority for the EIF, and we are delighted to contribute by investing in a fund that takes concrete and meaningful steps to achieve the EU’s climate objectives.”

Tadas Gudaitis, Director of Investment Management at Swedbank, Lithuania’s leading pension fund manager, added, “Investing in renewable energy mitigates the local generation deficit and enhances the resilience of economies and consumers to energy price fluctuations. Increasing generation capacity will also lower carbon emissions, providing environmental benefits and boosting the competitiveness of local businesses in the long term.”

According to Pečiulis, the fund is aiming for a target size of €200 million ($215 million), with a maximum limit of €350 million ($375 million).

Trina Solar, a leading Tier-1 manufacturer of solar modules, has recently entered into a three-year framework agreement to provide a minimum of 1 gigawatt (GW) of its solar modules to various European solar ventures spearheaded by the global renewable energy firm, Low Carbon.

Under this agreement, Trina Solar is set to supply its cutting-edge Vertex N 605W and Vertex 670W+ modules for the initial project.

The Vertex N 605W series is a bifacial range that is built using 210mm n-type i-TOPCon cell technology, which is renowned for its high efficiency and minimal degradation. With a peak output of 605 watts, this series is perfectly suited to be paired with solar trackers, offering enhanced feasibility for large-scale solar projects on challenging terrains.

The Vertex 670W+ series is capable of providing a higher energy yield, boasting a maximum efficiency of 21.6%. It also utilizes 210mm cell technology and a bifacial design, demonstrating strong performance even in lower light conditions. This series will serve as a flexible choice for Low Carbon’s forthcoming ventures.

The collaboration with Trina Solar assures planning reliability for Low Carbon’s project pipeline and aims to expedite the contracting process for future acquisitions.

Justin Thesiger, Director of Operations & Asset Management at Low Carbon, expressed that, “This agreement signifies a significant achievement as we expand our global renewable energy assets. Trina Solar emerged as the obvious partner due to their strong financial backing and their commitment to meeting substantial initial delivery volumes.”

RWE Renewables Iberia, part of the RWE Group catering to the Spanish market, has launched a 44-MWac solar power station located in Guadalajara, not far from Madrid. The Casa Valdes solar facility, built on the ground, has the potential to provide solar energy to approximately 30,000 homes in Spain each year.

Covering an expanse of roughly 97 hectares, the Casa Valdes initiative uses 97,740 advanced bi-facial solar panels. These panels are designed to absorb sunlight from both the front and back, boosting electricity production significantly.

RWE employs similar bi-facial panel technology in its ongoing projects: Puerta del Sol, near Casa Valdes, and Las Vaguadas in Badajoz, which together will add a 54 MWac capacity.

The introduction of Casa Valdes marks RWE’s contribution to meeting Spain’s climate goals. The country’s abundant sunshine aids the energy transition process, and cutting-edge solutions such as the bi-facial panels at Casa Valdes allow us to maximize the benefits of this renewable resource.

Katja Wünschel, CEO of Onshore Wind and Solar Europe & Australia at RWE Renewables, expressed that the Spanish sun is a valuable ally in the transition to cleaner energy.

RWE Renewables Iberia has established a significant presence in the Spanish renewables market, backed by extensive construction and operational expertise. Currently, the company manages a solar capacity exceeding 90 MWac across the nation.

Additionally, RWE Renewables Iberia is refining its portfolio of solar and wind projects to compete in the “Concurso de Capacidad,” Spain’s grid access tender process.

The European Institute of Innovation & Technology (EIT), through its innovation powerhouse EIT InnoEnergy, has been designated by the European Commission (EC) as the Secretariat for the EU Solar Photovoltaic (PV) Industry Alliance.

In collaboration with the EC, the Alliance has developed strategies to enhance EU PV production, targeting an output of 30 GW annually by 2025 across all aspects of the value chain. This initiative is anticipated to add 60 billion euros to Europe’s GDP and generate over 400,000 new jobs.

“Countries outside the EU are heavily investing in their clean tech sectors while attempting to lure our industries. The EU must elevate its investment strategies and regulatory settings to enable our clean tech sector to flourish, generate employment, and compete on a global scale,” commented Thierry Breton, the European Commissioner for the Internal Market.

Founded in 2010, EIT InnoEnergy boasts a strong track record with initiatives like the European Solar Initiative (ESI), the European Battery Alliance (EBA), and the European Green Hydrogen Acceleration Center (EGHAC). As the Secretariat of the EU Solar Photovoltaic (PV) Industry Alliance, EIT InnoEnergy will spearhead efforts to revitalize, mitigate risks, and expedite advancements in the European PV industry, enhancing its position amid soaring demand for solar technology both in the EU and worldwide. Specifically, EIT InnoEnergy will foster collaboration across the solar PV value chain, implement strategic industrial directives, manage Alliance memberships, disseminate market insights, handle communications, and operate the Business and Investment Platform of the Alliance.

To fulfill its goals, the Alliance has crafted a seven-point strategic action plan addressing vital investment conditions for PV manufacturing in Europe:

– Identify and address obstacles to expanding manufacturing capacity and provide strategic guidance.
– Ease financial access, including establishing commercialization pathways for solar PV production.
– Create frameworks for collaborative development and industry adaptation.
– Fortify international partnerships and global supply chain resilience.
– Support PV research and innovation foundations.
– Advocate for sustainability and circularity practices.
– Develop skills through partnerships and training initiatives.

Initially, the Alliance will focus on the following objectives:

– Rally public and private investment for expanding European solar PV manufacturing capacity, optimally utilizing both established and new European financial mechanisms.
– Ensure fair competition and stimulate demand for cost-effective, efficient, and sustainable PV products and systems.
– Facilitate the rapid adoption of eco-friendly design requirements for PV systems and components, and advance public procurement initiatives.
– Forecast skill needs for the industry through the establishment of the European Solar PV Industry Alliance Academy.

EIT InnoEnergy will work alongside organizations such as SolarPower Europe and the European Solar Manufacturing Council on the Alliance’s steering committee, acknowledging their crucial roles as key stakeholders in the industry.

The steering committee is tasked with overseeing the execution of the Alliance’s objectives and the operations of the European Solar PV Forum.

Plans for the Botley West Solar Farm, estimated to have a capacity of 840 MW, are being developed by Photovolt Development Partners (PVDP). This marks the beginning of a series of public consultations on the project. Botley West, which spans three areas within Cherwell, West Oxfordshire, and Vale of White Horse, is set to connect to the National Grid, providing enough renewable energy to power every household in Oxfordshire, England.

Botley West promises to offer substantial advantages at a time of rising electricity demand and an urgent need to tackle climate change while lowering household energy costs. Oxfordshire is at the forefront of the battle against climate change with ambitious goals designed to make a meaningful impact. All councils in Oxfordshire have endorsed the county’s Energy Strategy, which outlines that “most of the low carbon energy required in Oxfordshire will likely come from solar PV.” Botley West is poised to play a pivotal role in meeting Oxfordshire’s objective of cutting the county’s carbon emissions by 50% by 2030.

The developer, PVDP, collaborates with cooperative landowners, including Blenheim Estate, who have a genuine and long-term connection to the local area. PVDP is ensuring that the Botley West plans align with the landowners’ sustainable management strategies for their properties.

Botley West offers a unique opportunity to achieve notable environmental improvements in Oxfordshire. The project is designed to enhance biodiversity by improving soil quality and creating new habitats, making the area appealing to a wide array of wildlife. Additionally, the initiative allows for the continuation of agricultural activities, such as sheep grazing, beekeeping, allotments, and community gardens.

PVDP has kicked off the initial phase of community consultation for Botley West. The developer invites feedback from communities across the site areas and is dedicated to a transparent and thorough consultation process, which also includes collaboration with local planning authorities, conservation groups, and statutory consultees. This initial consultation phase will continue until December 15. PVDP will also organize public consultation events throughout the local area.

A PVDP representative stated: “With over 18 years of experience in developing solar farms across Europe and Japan, we are committed to delivering clean, affordable energy in the UK. Our collaboration with industry-leading experts will ensure that Botley West is an environmentally-centric project offering significant benefits for habitats and wildlife, as well as providing new recreational opportunities for local residents. We urge the community to share their feedback and attend our consultation events.”

Addressing the climate crisis is a priority we must all embrace today. As a landed estate, we have a unique opportunity to take decisive actions to protect future generations. We believe that this Nationally Significant initiative, led by Photovolt Development Partners, will help safeguard this region and support global endeavors to reduce carbon emissions and diminish reliance on fossil fuels, said Dominic Hare, CEO of Blenheim Palace.

Given its proposed generation capacity exceeding 50 MW, Botley West Solar Farm will be classified as a Nationally Significant Infrastructure Project (NSIP). Consequently, PVDP will submit an application to the Secretary of State for Business, Energy and Industrial Strategy (BEIS) for a Development Consent Order (DCO), which could be filed by the end of 2023.

Antaisolar, a prominent Chinese provider of photovoltaic mounting solutions, launched an international research and development center in Spain this past August. This move marks a significant achievement in the company’s technical innovation and business growth, marking a new phase in Antaisolar’s worldwide strategy.

This R&D facility is Antaisolar’s inaugural international research center, supported by their European sales and global support centers. It becomes the fourth milestone in Antaisolar’s global R&D network, joining centers in Shanghai, Xiamen, and Zhangzhou.

The center in Spain is initially staffed by a team of seasoned R&D professionals, including experts with experience managing renowned solar enterprises, underscoring Antaisolar’s commitment to the European and global markets.

Currently, this R&D hub plays a crucial role in advancing Antaisolar’s innovation in technology. It focuses on researching the core algorithms within PV tracking systems, conducting wind tunnel experiments, and more. Tasked with enhancing research and development and managing technology for various-product scenarios, including PV tracking and mounting systems, the center aims to meet consumer needs while paving the way for new technological advancements.

Antaisolar intends to take full advantage of Europe’s vibrant research ecosystem and abundant talent resources to improve products, technologies, and services. Looking forward, the company remains committed to a future-focused approach and global perspective, contributing to the acceleration of a zero-carbon future and supporting the shift towards renewable energy.

By 2021, Antaisolar had achieved an accumulated solar racking shipment of 19.3GW. Maintaining dominance in Japan’s solar racking industry, the company has been the leading exporter to Japan for eight successive years and also leads in both Australia’s and Chile’s distributed generation markets.

Following the successful conclusion of their Global Energy Transition 2022 event in New York City, Reuters Events is maintaining its premier Energy Transition event lineup with a strong focus on Europe. Amidst the backdrop of the EU’s REPowerEU Plan—which aims to mitigate reliance on Russian fossil fuels while enforcing significant climate measures—the urgency within the European energy transition landscape is mounting. The Reuters Events: Energy Transition Europe 2022, scheduled for November 15-16 in London, will serve as a critical gathering for European energy leaders as they confront these pressing challenges and outline strategies for establishing a sustainable energy system across the continent.

The European energy sector is ripe with transformative innovation, spanning areas such as electrification, hydrogen technology, carbon capture and storage (CCS), electric vehicles, digitalization, and clean tech advancements. Heightened geopolitical tensions have underscored the pressing need for energy self-sufficiency, making the swift advancement of the European energy transition crucial for ensuring a sustainable, secure, and low-carbon energy future—a process that is already underway.

Over 50 prominent figures, including CXOs, ministers, and European Commission representatives, will share their strategic insights and experiences that are driving Europe’s foremost energy entities through this transition. There is a collective imperative to devise strategies for generating secure, clean, and cost-effective energy throughout Europe. This includes exploring leadership strategies at the board level, addressing questions about transition financing, delving into the role of market governance and business model innovation, identifying pivotal technological innovations, and crafting roadmaps for a decarbonized, electrified European grid.

Solar power stands out as a key renewable resource and a crucial technology for unlocking Europe’s transition potential, due to its foundational role in the renewable energy sector.

Emphasizing the importance of in-person gatherings, Luke Brett, Project Director for the Reuters Events Energy Transition team, remarked, “The remarkable success of the New York summit reinforced the value of such interactions for key organizations involved in climate action.”

Bringing together energy leaders, policymakers, and investors is vitally important at this juncture. Both the team and I are excited to witness the enthusiasm and dynamism from the community as we challenge existing paradigms, asking whether European energy stakeholders are progressing sufficiently fast and far.

The call for action will be amplified by influential speakers, including:

– Josu Jon Imaz, CEO of Repsol
– Simone Rossi, CEO of EDF
– Will Gardiner, CEO of Drax
– Ana Paula Marques, CEO of EDP Spain
– Greg Jackson, CEO of Octopus Energy
– Christina Verchere, CEO of Petrom
– Philippe Ducom, President of Europe, ExxonMobil
– As Tempelman, CEO of Eneco

Additional notable speakers will be unveiled soon.

The team at Reuters urges those interested to download the official brochure, which offers comprehensive updates on the agenda, speakers, and collaboration opportunities.

The energy transition transcends industry boundaries, promising to redefine business operations across Europe. This event presents a vital opportunity to engage with this transformative agenda and convert aspirations into decisive actions. Embrace your role in directing Europe’s energy future.