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<a href="https://galileo.energy/" target="_blank" rel="noopener">Galileo</a>, a European renewable energy development and investment company, has announced the acquisition of an additional 65% stake in <a href="https://pagra.eu/" target="_blank" rel="noopener">Pagra</a>, a company that develops and installs utility-scale solar photovoltaic systems. Having initially secured a 35% minority stake in July 2022, GALILEO now fully owns PAGRA, aiming to accelerate the company&#8217;s growth strategy.
The company is expected to enter the Energy-as-a-Service (EaaS) space after acquisition.
Ingmar Wilhelm, co-founder, and Chief Executive Officer, Galileo: “The investment in PAGRA reinforces our strong commitment to delivering innovative renewable energy solutions to customers throughout Europe and marks an important milestone in our long-term dedication to the Polish energy market. In Poland, we are as well developing a pipeline of renewable energy projects, including solar PV, onshore wind, and battery storage utility-scale projects. We are excited to continue our successful collaboration with PAGRA&#8217;s talented team and look forward to achieving new accomplishments together”.
Galileo said it has an active pipeline of over 12 GW of solar PV, storage, wind onshore, and offshore projects across 10 European countries.
According to Mercom’s recently released 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, in the first half of 2024, there were 40 solar M&amp;A transactions, compared to 48 in the first half of 2023. The largest deal was by Brookfield Asset Management, an asset management firm along with institutional partners including Brookfield Renewable and Singapore’s Temasek Holdings.
Altarea, a French-based real estate company, has recently <a href="https://cms.mercomindia.com/altarea-acquires-rooftop-solar-developer-prejeance-industrial/" target="_blank" rel="noopener">acquired</a> Prejeance Industrial, a rooftop solar development company, from the Spanish group Repsol. This acquisition will help expand the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap.

Galileo Acquires Solar Developer Pagra

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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
Daqo New Energy Corporation, a photovoltaic-grade polysilicon manufacturer, <a href="https://www.prnewswire.com/news-releases/daqo-new-energys-subsidiaries-announce-two-high-purity-polysilicon-supply-agreements-with-longi-and-another-solar-manufacturing-company-in-china-301690114.html" target="_blank" rel="noopener">announced</a> that its subsidiaries had signed two long-term polysilicon supply agreements with LONGi and another solar manufacturing company in China. Under the supply agreement with LONGi, Daqo New Energy&#8217;s subsidiary Inner Mongolia Daqo will provide LONGi with a total amount of 251,280 metric tons of mono-grade polysilicon from May 2023 to December 2027. Additionally, under the supply agreement with another solar manufacturing company, Xinjiang Daqo and Inner Mongolia Daqo will provide it with 27,600 metric tons of mono-grade polysilicon from January 2023 to December 2027.
Airbus <a href="https://www.airbus.com/en/newsroom/press-releases/2022-11-airbus-reveals-hydrogen-powered-zero-emission-engine" target="_blank" rel="noopener">announced</a> it was developing a hydrogen-powered fuel cell engine, which will be ground and flight-tested onboard its ZEROe demonstrator aircraft by 2025. The propulsion system is considered one of the solutions to equip its zero-emission aircraft that will become operational by 2035. The A380 MSN1 flight test aircraft for new hydrogen technologies is currently being modified to carry liquid hydrogen tanks and their associated distribution systems.
U.S.-based home improvement retail corporation Home Depot <a href="https://corporate.homedepot.com/news/sustainability/100-megawatts-solar-energy" target="_blank" rel="noopener">announced</a> the purchase of 100 MW of solar energy from the National Grid Renewables’ solar and storage project called Noble in Denton County, Texas. The purchase of solar power would help Home Depot to meet 8% of its total electricity usage. The solar farm is National Grid Renewables&#8217; largest solar energy project and its first utility-scale energy storage project. The company has pledged to produce or procure 100% renewable electricity equivalent to the electricity needs for all Home Depot facilities by 2030. Noble is a 275 MW solar and 125 MWh energy storage project located in the Electric Reliability Council of Texas (ERCOT). Home Depot currently purchases solar power from a 75 MW facility and is under contract for another 50 MW of solar capacity. The company also purchases energy from a 50 MW wind facility.
TotalEnergies is <a href="https://totalenergies.com/media/news/press-releases/kazakhstan-totalenergies-implements-its-energy-transition-strategy" target="_blank" rel="noopener">implementing</a> its energy transition strategy in Kazakhstan by selling a part of its oil portfolio and signing agreements to develop wind and battery storage projects. The company signed a deal to sell its affiliate Total E&amp;P Dunga to the Kazakh company Oriental Sunrise Corporation for $330 million. Total E&amp;P Dunga holds a 60% operating interest in Kazakhstan&#8217;s onshore Dunga oil field, representing a net production of approximately 7,400 barrels of oil equivalent per day in 2022. The company’s renewable energy arm, Total Eren, signed an agreement with Samruk-Kazyna and KazMunayGas to develop the Mirny project, the largest wind energy project ever initiated in Kazakhstan. The 200 wind turbines, totaling 1GW of installed capacity, will be combined with a 600 MWh battery storage system. The project will supply more than 1 million people in Kazakhstan with low-carbon electricity.
GALILEO, the pan-European renewable energy platform, has <a href="https://www.mozaik-energies.fr/news/partenariat-entre-moza%C3%AFk-energies-et-galileo" target="_blank" rel="noopener">become</a> a 20% owner in MOZAÏK Energies, a France-based renewable energy company. The partnership provides for developing a portfolio of projects common to both companies and deploying several financial mechanisms to support the growth of MOZAÏK Energies over the long term. The two partners have joined hands to promote the diversification of the electricity mix, support the country&#8217;s energy independence strategy and reduce the cost of electricity for consumers. MOZAÏK Energies and GALILEO aim to develop, build and operate a portfolio of ground-based solar power plants nationwide, particularly in the northern half of France.
Solar module manufacturer <a href="https://goldisolar.com/" target="_blank" rel="noopener">Goldi Solar</a> announced the launch of the Mono PERC range of domestic content requirement (DCR) modules under the HELOC Pro series. The modules would be available in monofacial and bifacial variants with a power output ranging from 520W-550 W. HELOC Pro DCR range modules are known to be equipped with the new circuit design with multi-busbar technology, reducing the current losses. The company claimed the modules have an advanced glass and cell surface textured design, ensuring excellent performance in low-light environments and reducing hotspot losses.

Daily News Wrap-Up: Daqo New Energy to Supply Mono-Grade Polysilicon to LONGi

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