Global push for photovoltaic power generation projects to help achieve "carbon neutrality"

Dec 24, 2021
In 2021, photovoltaic markets around the world will flourish, and photovoltaic manufacturers will accelerate the construction and deployment of photovoltaic projects around the world. The following is a brief introduction to the financing of photovoltaic projects around the world in 2021.

Canadian Solar, a photovoltaic module manufacturer and battery energy storage solution provider, announced the sale of a 635MW Jaiba V photovoltaic project to Brazilian renewable energy developer VTRM. The project is located in the state of Minas Gerais in the northeast of Brazil. It is currently in the late stage of development. It is expected to start construction in 2022 and achieve commercial operation in 2023.
Renewable energy investment and developer Nala Renewables signed an acquisition agreement with renewable energy developer Solek to acquire a portfolio of 150MW photovoltaic projects under development and construction in Chile. The investment portfolio is expected to be fully operational within the next two years and will be operated under the special system of distributed power generation projects in Chile. Solek will perform engineering, procurement and construction contracts (EPC) and operations and maintenance contracts (O&M) for these projects. Investor Moonvalley Capital is Nala Renewables and the financial advisor for this transaction.
Ayana Renewable Energy Pte Ltd, a renewable energy developer in India, announced an agreement to acquire a 100% stake in a 250MW photovoltaic project developed and operated by ACME Photovoltaic Holdings Pte Ltd. The project is located in Jodhpur, Rajasthan, India, and is connected to the interstate transmission system to supply power to Maharashtra Distribution Co., Ltd. under a long-term power purchase agreement.
Investment manager Goldman Sachs Asset Management signed a definitive agreement with Dynamic Energy Solutions, a utility-scale photovoltaic project developer, to acquire 11 photovoltaic projects with a total installed capacity of approximately 70MW built across Maine in the United States. The project portfolio is expected to go online in 2022 and 2023, and will be connected to the power distribution systems of Maine utility companies Central Maine Power and Versant.
American Standard Solar is a developer specializing in photovoltaic system development and financing. It has acquired a 10MW community photovoltaic project portfolio in Oregon, the United States. The electricity generated by the three ground-mounted community photovoltaic projects will provide clean energy to residents and businesses in the areas served by Portland General Electric (PGE) and Pacific Power Company.
BW Solar, a joint venture between BW Solar and Capital Power, has signed a member equity purchase and sale agreement under which Capital Power will acquire 20 photovoltaic and energy storage development investment portfolios in the United States. The total installed capacity of the investment portfolio is approximately 1,298 MW, with the installed capacity of each project ranging from 15 MW to 340 MW. Most photovoltaic projects are located in the electricity market served by utility companies such as MISO, PJM, and SERC, and are all in the interconnection queues of their respective regional transmission organizations.
Luxembourg-based FP Lux Investments has acquired three photovoltaic projects in Germany for its renewable energy infrastructure opportunity fund, with a total installed capacity of 27.5 MW. Vattenfall Deutschland is a subsidiary of Swedish power company Vattenfall AB, which developed these three projects and sold them to FP Lux. The acquired investment portfolio contains two photovoltaic projects with an installed capacity of 10MW each, and another project with a capacity of 7.5MW. Thanks to Germany's EEG feed-in tariff plan, the third photovoltaic project signed a long-term power purchase agreement (PPA) with Vattenfall Energy Trading.
The Spanish company ERG, through its subsidiary ERG Generation Company, signed an agreement with GEI Subasta 1 SA to acquire the entire capital of the two companies in accordance with Spanish law. The two companies have two photovoltaic projects in operation in Castilla de La Mancha and Andalusia, Spain, with installed capacities of 50MW and 41.6MW respectively, for a total of 91.6MW. These photovoltaic projects will be put into production in early 2020. The transaction price is 96.2 million euros.
Ence Energia, the renewable energy subsidiary of Ence, sells a portfolio of five photovoltaic projects totaling 373MW deployed in southern Spain to the utility company Naturgy. The purchase price is 62 million euros (approximately 70 million U.S. dollars), and Ence will reinvest in it to continue to develop new projects, focusing on renewable energy and energy storage systems generated by biomass energy and photovoltaics.