THE FRIDAY NOTE: Macquarie to pour EUR 180m in Irish solar and more of the week's tops
Featured image by David Goehring/CC BY 2.0
This week it was announced that Australia’s Macquarie will invest EUR 180 million in Amarenco solar projects in Ireland, NGPI unveiled 300-GW solar and wind plan for Pakistan, and EnBW was named preferred bidder for insolvent German wind company Prokon.
Amarenco Solar has plans to install over 30 photovoltaic (PV) parks in southern Ireland, the first of which are expected to be ready next year. With its investment, Macquarie Group Ltd (ASX:MQG) will take a 50% share in the business.
Remaining on the solar capacity waive, we move to Honduras which is projected to install 460 MW of photovoltaic (PV) systems in 2015 and climb to the second spot in GTM Research’s Latin America solar rankings. Chile will remain number one in the region this year, with about 1 GW of new capacity.
In fact, Chile’s solar capacity just grew by 72.8 MW with the inauguration of a PV plant in Antofagasta built by renewables major SunEdison Inc (NYSE:SUNE). At the event, CEO Alfredo Solar said the company is considering options to compete at the country’s next energy auction.
NGPI TO INSTALL 300 MW OF SOLAR, WIND PARKS IN PAKISTAN
In Pakistan, US-based company New Generation Power International (NGPI) plans to build 200 MW of solar and 100 MW of wind power capacity for a total investment of nearly USD 550 million (EUR 484.5m). On Tuesday, it announced a Letter of Intent (LoI) for the projects with the Government of Sindh - Directorate of Alternative Energy.
RWE’S 295-MW NORDSEE OST WIND FARM CAME ONLINE, GWYNT Y MOR IS NEXT
Moving offshore, German energy group RWE AG (ETR:RWE) on Monday inaugurated the 295-MW Nordsee Ost wind farm, in German waters. It will also commission the 576-MW Gwynt y Mor farm, off Wales, next month. Hans Buenting, CEO of RWE Innogy, said that by end-2015 offshore wind will account for 40% of the firm’s renewable power generation.
On the German wind front, the bidding for the assets of Prokon Regenerative Energien also made the headlines this week. Utility EnBW (ETR:EBK) was selected as the preferred bidder for the insolvent German wind farm operator, which has 537 MW of capacity in Germany and Poland.
NextEra Energy Partners LP (NYSE:NEP) has completed the acquisition of 664 MW of operational wind farms in the US from its sponsor NextEra Energy Resources LLC. The deal expands the yieldco’s clean energy project portfolio to about 1,923 MW.
Abengoa Yield (NASDAQ:ABY), another yieldco vehicle, will also grow its fleet. On Monday it said it will acquire controlling stakes in 450 MW of concentrating solar power (CSP) plants in Spain and South Africa. The vendor is parent company Abengoa SA (BME:ABG).