June 19 (SeeNews) - In the past week PNE Wind announced a deal to dispose of its 1.2-GW UK wind pipeline, SunEdison unveiled two M&A transactions that will add over 2 GW to its emerging markets portfolio, and Bolivian media reported that Total SA was discussing a solar project of up to 800 MW in the South American country.
German wind farm developer PNE Wind AG (ETR:PNE3) said on June 12 it is selling its 90% in PNE Wind UK to Canadian asset manager Brookfield for about GBP 103 million (USD 163m/EUR 144m). The UK business has a wind project pipeline of nearly 1,200 MW.
SunEdison Inc (NYSE:SUNE), on the other hand, on Tuesday said it has agreed to take over Globeleq Mesoamerica Energy (GME), which has 243 MW of operational wind and 82 MW direct current (DC) of operational solar power stations in Costa Rica, Honduras and Nicaragua. The target also has 326 MW of wind projects in Central America.
In addition, SunEdison has struck a definitive deal to buy India-focused wind farm operator Continuum Wind Energy. The latter owns and operates 242 MW of wind parks and has 170 MW more under construction and over 1 GW under development.
UK GOVT TO CLOSE RO FOR ONSHORE WIND IN 2016
Speaking of PNE’s wind farms in the UK we definitely cannot skip the Department of Energy and Climate Change’s (DECC) announcement that the Renewables Obligation (RO) subsidy regime for new onshore wind farms will close on April 1, 2016. This is a year earlier than previously planned. Up to 5.2 GW of onshore wind capacity could be eligible for a grace period, according to the announcement on Thursday.
Scottish energy minister Fergus Ewing said the move to cut the RO would hit Scotland disproportionately. "We have warned the UK Government that the decision, which appears irrational, may well be the subject of a Judicial Review," he added.
WIND TURBINE CO GAMESA PLANS ENTRY INTO SOLAR, OFF-GRID MARKETS
In Spain wind turbine maker Gamesa (MCE:GAM) said Tuesday it plans to enter segments that offer “a high level of synergy” with the wind business, such as solar and off-grid, especially in India. The company presented today its plan for 2015-2017, which will prepare it for the expansion after 2017.
Gamesa is targeting turbine sales of 3.5 GW-3.8 GW in 2017. It also guided for a doubling of its earnings before interest and tax (EBIT) between 2014 and 2017.
BOLIVIA TO WORK WITH TOTAL ON PV PROJECT OF UP TO 800 MW
Interesting solar news came from Bolivia this week. There the local government and French oil major Total SA (EPA:FP) are discussing a solar power project of between 500 MW and 800 MW. Bolivia, actually, has some of the highest levels of solar radiation in the world.
Many other sunny countries are embracing solar energy so it is no surprise that US-based researcher Mercom Capital on Tuesday lifted its forecast for 2015 global solar installations to 57.4 GW. It expects China, Japan and the US to account for about 60% of all solar additions in 2015.
TRINA SOLAR TO MAKE IN INDIA PV PANELS FOR US, EU
We mentioned India several times so far in the Friday Note. The country’s renewable energy market is very active and has attracted the attention of many global players, including China-based company Trina Solar (NYSE:TSL). The solar energy major and Indian company Welspun Energy Ltd intend to build a USD-500-million (EUR 442m) manufacturing plant in Gujarat or in Andhra Pradesh state, Bloomberg reported. From it, Trina may export solar products to the US and even to Europe, thus escaping the punitive import duties for China-made equipment.
NEXTENERGY EUROPEAN SOLAR EYES EUR 300M IN IPO PROCEEDS
Last but not least comes the London initial public offering (IPO) of NextEnergy European Solar Utility Plc (NEESU). The newly formed yieldco vehicle said Thursday it aims to raise EUR 300 million (USD 339.5m). The company has over 1.5 GWp of assets identified for potential acquisition. It will own and operate utility-scale solar energy assets in the EU, excluding the UK, with an initial focus on Italy and Spain. It will be managed by the NEC Group.
In the US, meanwhile, the joint yieldco of solar majors First Solar (NASDAQ:FSLR) and SunPower (NASDAQ:SPWR) today priced its IPO at the upper end of the previously announced range, raising some USD 420 million.
(GBP 1 = USD 1.586/EUR 1.401)