Greek industrial group Mytilineos said 2020 turnover from its renewables and storage development unit was around 40% lower than forecasted due to contracting and construction delays as a result of the coronavirus pandemic.

European PV asset holders should ensure they have the right skills and knowledge to successfully operate in the continent’s power purchase agreement (PPA) market, according to panellists speaking today at the Solar Finance and Investment Europe conference.

Ahead of the Solar Finance and Investment Europe conference this week, organised by PV Tech publisher Solar Media, Gransolar Group managing partner and co-founder Ivan Higueras spoke to PV Tech about how utility-scale solar development has changed in recent years and the prominent role vanadium redox flow batteries could play in the future.

The results of Spain’s auction this week for 3GW of renewables capacity have been widely welcomed by the country’s solar sector, but calls have been made to tweak future auctions to support smaller-scale projects as well as encourage the participation of bids with energy storage.

Rising domestic demand for solar helped Spain reach 596MW of new self-consumption PV installations last year, according to data from trade association UNEF.

Solar PV bidders secured two-thirds of allocated capacity in the first of Spain’s new renewable energy auctions, which was held yesterday (26 January) and was more than three times oversubscribed.

The rapid scale-up of solar capacity in the European Union drove the growth of renewable electricity generation, which overtook that of fossil fuels for the first time last year.

Iberdrola has signed a power purchase agreement (PPA) to sell electricity from what is claims will be Europe’s largest PV plant to French food group Danone.

Solar is now cheapest form of new electricity in a host of international markets, driven by cost reductions and growth of bifaciality, large-area solar modules and trackers.

Solar energy leads global energy transition investments for 2020, rising by 12% to US$148.6 billion.

Utility and developer to invest in 1GW solar and 40MW energy storage project development in south eastern France.

This year is set to be a record-breaker for renewables auctions in Europe, as countries across the continent look to increase clean energy deployment to reach 2030 emissions reductions targets.

Renewables developer BayWa r.e. has received a major capital injection of €530 million (US$642.3 million) through the sale of a 49% stake in the outfit to Energy Infrastructure Partners (EIP).

German solar engineering, procurement and construction (EPC) provider Greencells has issued a secured green bond worth €25 million, the proceeds of which will be used to target a substantial EPC pipeline.

UK solar investor Foresight Solar Fund has agreed a €20 million deal to acquire a 26.1MW solar project in Spain, the company’s first in the country and its first ever subsidy-free solar investment.

Liam Stoker reflects on last week’s Solar Finance & Investment Europe conference, where investors, developers and asset owners gathered to hear how emerging trends will shape Europe’s surging solar ecosystem in the coming years.

Panellists at London event were all confident market will retain momentum and grow bolder despite the speculative plays and competition from utilities and oil majors.

There is a “huge opportunity” for solar in Ireland, with the Renewable Electricity Support Scheme (RESS) providing a route to market for the technology.

The UK’s net zero law stands to create a “supportive environment” that could act as a catalyst for subsidy-free solar developments, Foresight Solar Fund has said.

The continued growth of the secondary solar market on a pan-European scale will result in “exciting times” for the sector, but big utilities are unlikely to stay on the sidelines.

Representatives of some of solar PV’s leading European finance houses will meet in London this week as the continent’s solar industry inches ever closer to grid-parity.