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					</table><p>Abu Dhabi Future Energy Company, <a href="https://masdar.ae/en/" target="_blank" rel="noopener">Masdar</a>, along with <a href="https://www.taalerienergia.com/en" target="_blank" rel="noopener">Taaleri Energia</a>, a Finland-based renewable energy developer, have acquired eight hybrid renewable energy projects in Poland with a combined capacity of 1 GW from <a href="https://domrel.pl/" target="_blank" rel="noopener">Domrel Biuro Usług Inwestycyjnych</a>.</p>
<p>The projects are under construction and will deploy solar photovoltaic and onshore wind technologies. Once in operation, they are expected to power 223,000 households and offset 1.8 million tons of carbon dioxide annually.</p>
<p>The parties did not disclose the acquisition amount.</p>
<p>Domrel, a Poland-based renewable project developer, will continue progressing the projects through the developmental stages.</p>
<p>Masdar hopes to capitalize on the recent amendment to Poland’s Energy Law called Cable Pooling, which came into effect in October 2023, allowing for linking different renewable energy sources onto a single grid connection.</p>
<p>Cable pooling helps stabilize renewable energy generation at each connection point while optimizing the grid to ensure a reliable power supply to homes and businesses across Poland.</p>
<p>Masdar has invested in two wind farms in Poland, Mlawa Wind Farm in Mazowieckie and Grajewo Wind Farm in Podlaskie, with a combined installed operational capacity of 51.4 MW.</p>
<p>“This bold, progressive step expands our European portfolio and supports Poland in achieving its climate action goals. We applaud Poland’s recent legislative developments in the renewable and clean energy sector, which have opened the door for additional renewable capacity by allowing hybrid solar-wind projects to connect to the grid.” Said Masdar Chief Executive Officer Mohamed Jameel Al Ramahi.</p>
<p>The acquisition will bring the total number of development projects in Taaleri Energia’s SolarWind III Fund portfolio to 61, representing a potential gross generation capacity of 7.6 GW.</p>
<p>A recent study by LevelTen Energy <a href="https://www.mercomindia.com/solar-wind-ppa-prices-europe-north-america-q3" target="_blank" rel="noopener">revealed</a> that European solar PPA prices in Q3 rose by 2%, indicating that the market may be reaching a new pricing equilibrium.</p>
<p>In September 2023, Masdar <a href="https://www.mercomindia.com/uaes-masdar-to-develop-solar-park-for-dewa" target="_blank" rel="noopener">signed</a> an agreement with Dubai Electricity and Water Authority to construct and operate the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The project will cost around AED5.15 billion (~ $1.5 billion).</p>
<p>According to Mercom Capital Group’s newly released <a href="https://mercomcapital.com/product/9m-q3-2023-solar-funding-ma-report/" target="_blank" rel="noopener">9M and Q3 2023 Solar Funding and M&amp;A Report</a>, in the first nine months of 2023, there were 75 solar M&amp;A transactions, down from 90 last year.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Masdar Acquires 1 GW Renewable Energy Portfolio in Poland


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					</table><p>E-commerce conglomerate <a href="https://www.aboutamazon.com/" target="_blank" rel="noopener">Amazon</a> has announced the expansion of its renewable energy portfolio globally, with 2.7 GW of clean energy capacity across 71 new renewable projects, including its first solar farms in Brazil, India, and Poland.</p>
<p>Once fully operational, these projects will generate 50,000 GWh of clean energy, enough to meet the power needs of 4.6 million households in the U.S. every year.</p>
<p>In the Asia-Pacific region, Amazon <a href="https://mercomindia.com/amazon-solar-power-purchase-agreements-420-mw-india/" target="_blank" rel="noopener">announced</a> its first three large-scale solar projects in India, representing 420 MW of renewable capacity. The company has 57 clean energy projects in the region.</p>
<p>Amazon said it had 117 clean energy projects in Europe and announced its first rooftop solar projects in France and Austria.</p>
<p>The company’s investment in its first utility-scale project in Poland will contribute to the Polish government’s goal of increasing renewable energy on its grid. It claims that the investment is one of the largest corporate solar deals in the country.</p>
<p>Amazon now has 379 renewable energy projects across 21 countries, including 154 wind and solar farms and 225 rooftop solar projects, representing 18.5 GW of renewable energy capacity. By the end of 2021, the company had reached 85% renewable energy across its business.</p>
<p>The e-commerce company said it was adding 1 GW of renewable capacity in North America across the south-eastern U.S., including its first two clean energy projects in Louisiana. The company now has a total of 202 projects in the region.</p>
<p>In South America, Amazon announced its first 122 MW solar farm in Brazil.</p>
<p>The project includes a $380,000 investment in environmental programs during the construction phase to protect and promote biodiversity, while an estimated 850 job opportunities would be created during the project building work, with an additional 30 permanent jobs once the project is operationalized.</p>
<p>CEO of Amazon Web Services Adam Selipsky said, “We are bringing new wind and solar projects online to power our offices, fulfilment centers, data centers, and stores, which collectively serve millions of customers globally, and we are on a path to reach 100% renewable energy across our entire business by 2025. Around the world, countries are looking to accelerate the transition to a clean energy economy, and continued investments like ours can help accelerate their journey as we all work together to mitigate the impacts of climate change.”</p>
<p>Amazon is also working through the Clean Energy Buyers Institute’s Beyond the Megawatt initiative to ensure the industry is maximizing the economic, environmental, and social impact of energy procurement.</p>
<p>In July, Amazon announced new <a href="https://mercomindia.com/amazon-invests-green-hydrogen-us-and-europe/" target="_blank" rel="noopener">investments</a> in green hydrogen companies in Europe and the U.S. through its $2 billion Climate Pledge Fund.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Amazon Adds 2.7 GW of New Renewable Energy Capacity Across 71 Projects

<p><a href="https://www.ingka.com/" target="_blank" rel="noopener">Ingka Group</a>, which owns most of the <a href="https://about.ikea.com/en" target="_blank" rel="noopener">IKEA Retail</a> stores globally, has acquired a ready-to-build solar park and wind farm in Wyoska in North-Western Poland through its investment arm, Ingka Investments, for €190 million (~$202.18 million).</p>
<p>The wind farm has an installed capacity of 63 MW with an annual production of 183 GWh.</p>
<p>Ingka Investments has signed a purchase agreement with large-scale onshore wind and solar power developer <a href="https://www.ox2.com/" target="_blank" rel="noopener">OX2</a>, which has already developed two solar projects for Ingka. The total investment transaction value of €190 million ((~$202.18 million) includes a transaction value of €173 million (~$184.35 million) to OX2 and the remainder to other stakeholders involved in the original wind and solar project company.  Both the projects are scheduled to be fully operational by the end of 2024.</p>
<p>The company said that the acquisition would secure long-term access to clean energy for IKEA Retail’s operations and its Poland-based value chain partners.</p>
<p>Managing Director of Ingka Investments, Krister Mattsson, said, “The investment represents another important step for us as it will further reduce IKEA Retail’s climate footprint, including distribution and logistics. Having recently invested in renewable energy in Spain and Germany, this investment demonstrates our continued commitment to invest in countries where IKEA Retail operates and to increase the share of renewable energy across the IKEA value chain.”</p>
<p>Ingka further intends to reduce IKEA’s climate footprint by supporting a broader transition to a net-zero world. Ingka currently owns and operates six wind farms in Poland with a total capacity of 180 MW. The plants generate 450 MWh of power annually through wind energy, while the IKEA Retail and Distribution in Poland supplies electricity to all six farms.</p>
<p>IKEA is committed to the Paris Accord and is working to limit the global temperature rise to 1.5 degrees Celsius.</p>
<p>Currently, Ingka Group owns and operates 575 wind turbines in 17 nations, where it has 20 fully functional solar parks. Ingka has expanded its rooftop solar services in these countries, wherein 935,000 solar panels have been deployed on the roofs of IKEA stores and warehouses.</p>
<p>Ingka’s total renewable energy portfolio is over 2.3 GW, which equals the annual consumption of over 1.25 million households in Europe. The company aims at 100% renewable modes of electricity consumption in its operations by 2025.</p>
<p>Earlier this year, Ingka Group <a href="https://mercomindia.com/ikea-acquires-solar-projects-europe/" target="_blank" rel="noopener">acquired</a> nine solar projects in Germany and Spain from European solar developer Enerparc through Ingka Investments. The solar PV development portfolio investment was around €340 million (~$371 million).</p>
<p>Recently, IKEA U.S. <a href="https://mercomindia.com/daily-news-wrap-up-nhpc-awards-solar-epc/" target="_blank" rel="noopener">collaborated</a> with SunPower Corp, a residential solar technology provider allowing members of the IKEA Family customer loyalty program to purchase home solar solutions to generate and store their renewable energy.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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IKEA Acquires Solar Park and Wind Farm in Poland for $202 Million

<p><a href="https://ruseriosolar.com/" target="_blank" rel="noopener">Ruserio Solar</a>, a special purpose vehicle of the Dhamija Group, has invited expressions of interest (EoIs) from contractors for the engineering, procurement, and construction (EPC) of a 113 MW solar power project in the Bucsani district of Romania.</p>
<p>The successful bidder will also have to take care of the operation and maintenance activities of the project.</p>
<p>The last date to submit the bids is March 31, 2022. Early development works for the project will start from April 15, and the PPA negotiation will be concluded by May 1. The EPC and O&amp;M selection will take place on September 2.</p>
<p>The project&#8217;s commercial operation date is scheduled for April 30, 2024.</p>
<p>The project will involve signing the power purchase agreement (PPA) with the offtaker and power trading at the Romania gas and electricity market operator.</p>
<p>Only bifacial modules with an efficiency of 25.9% will be used for the project. The potential vendors of the modules include Jinko, Trina Solar, LONGi, and Risen Solar.</p>
<p>Inverters with maximum AC output power of 6.25 MW are slated to be used with 98.7% efficiency in the project. ABB, SMA Solar, and Sungrow are the possible vendors considered for the project.</p>
<p>The project is proposed to be connected to the national transport PowerGrid through a 400 kV substation connected in an in-out configuration to one of the two powerlines in the vicinity owned by Transelectrica.</p>
<p>All the materials and equipment used for constructing the project substation and connection powerline should be manufactured by well-established international or Romanian manufacturers. They should comply with the European and Romanian norms and regulations.</p>
<p>By Romanian legislation, the design and execution of electrical installations on Romanian territory must be performed by companies approved by the Energy Romanian Authority.</p>
<p>In line with its key strategic objectives &#8211; energy sector&#8217;s sustainability, energy security, and green energy generation, Romania has a total installed renewable energy capacity of 20.61 GW, with solar accounting for 28%, as of 2019.</p>
<p>Recently, Econergy Renewable Energy, an independent power producer, <a href="https://mercomindia.com/project-finance-brief-econergy-secures-funding/" target="_blank" rel="noopener">secured</a> €200 million (~$227 million) for its Romanian and Polish solar projects through joint ventures with Phoenix Insurance and RGreen Invest. The loan will be used for solar projects in Romania and Poland that are expected to start construction in 2022.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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EPC Tender Floated for a 113 MW Solar Project in Romania

<p>Poland’s Energy Regulatory Office (<a href="https://www.ure.gov.pl/en" target="_blank" rel="noopener">ERO</a>) has allocated a capacity of 870 MW of solar and 460 MW of wind in its latest auction.</p>
<p>The regulatory office auctioned 570 MW of solar projects of over 1 MW, while all the 460 MW capacity for wind is for projects over 1 MW. The tender discovered a minimum price of PLN 207.85 (~$50.93)/MWh for solar projects and PLN 139.64 (~$34.22)/MWh for wind projects.</p>
<p>With a total value of over PLN 3 billion (~$735.06 million), the projects will generate 13.9 TWh of electricity.</p>
<p>The tender for solar and wind projects less than 1 MW attracted 401 bids. Of this, 309 bidders won the auction. The Energy Regulatory Office allocated 300 MW of solar capacity for projects less than 1 MW. It reserved over PLN 2.5 billion (~$612.49 million) to procure 2.7 TWh of power and awarded contracts for PLN 677 million (~$165.86 million).</p>
<p>The lowest bid for the solar project stood at PLN 219 (~$53.65)/MWh, while the highest bid was PLN 278.87 (~$69)/MWh.</p>
<p>ERO also opened a tender for geothermal, bioenergy, and hydropower projects of up to 1 MW. However, it received bids for only hydropower projects. It had allocated around PLN 70.2 million (~$17.20 million) to procure 143 GWh of power. Bids were awarded for 76.5 GWh of energy with a value of around PLN 49 million (~$12 million).</p>
<p>In June, Poland <a href="https://mercomindia.com/poland-awards-solar-res-auction/" target="_blank" rel="noopener">allocated</a> 2.5 GW of renewable capacity in auctions.</p>
<p>Last year, Poland <a href="https://mercomindia.com/poland-solar-wind-auction/" target="_blank" rel="noopener">auctioned</a> 1.7 GW of renewables capacity in its largest renewable energy auction.</p>
<p>Coal is the dominant energy source in Poland, but the country has taken giant strides in augmenting renewables capacity over the last decade. The country had an installed solar photovoltaic capacity of 3.9 GW at the end of 2020.</p>
<p>According to the Institute for Renewable Energy of Poland, the country’s installed power in photovoltaics in 2025 may reach 15 GW. The next few years would see more capacity installed in the utility-scale segment instead of the distributed generation segment.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Poland Allocates 1.3 GW of Solar and Wind Capacity

<p>European independent power producer <a href="https://alternusenergy.com/" target="_blank" rel="noopener">Alternus Energy Group</a> said it had acquired a 64.6 MW Polish solar project from <a href="https://www.baywa-re.com/en/">BayWa r.e.</a>, a renewable energy projects developer. Both parties had signed a sales agreement last month.</p>
<p>With this acquisition, the solar park &#8211; located in Witnica, Poland, becomes Alternus&#8217; largest operational solar farm. The project is Poland&#8217;s first subsidy-free utility-scale solar installation with a corporate power purchase (PPA) agreement. A 10-year virtual PPA is secured with Gorazdze Cement S.A., a subsidiary of Heidelberg Cement Group.</p>
<p>Joseph Duey, Chief Financial Officer of Alternus Energy, said that the company&#8217;s cumulative capacity increased to 130 MW across 24 solar parks in five European countries with this acquisition.</p>
<p>BayWa r.e. will continue to supply operations and maintenance services at the solar park, the company said in a press statement.</p>
<p>Commenting on the acquisition, Vincent Browne, Chairman and Chief Executive Officer of Alternus Energy, said, &#8220;We are delighted to mark our official entry into the Polish market with the acquisition of the Witnica solar park, the first subsidy-free, PPA-backed utility-scale solar installation in Poland. We have plans for further expansion within the country over the next 12 months.&#8221;</p>
<p>Benedikt Ortmann, Global Director of Solar Projects at BayWa r.e., said the project&#8217;s sale to Alternus Energy is in line with our goal of developing and selling additional solar capacity in future years and highlights the attractiveness of renewable energy assets to investors.</p>
<p>In June 2021, Alternus Energy Group <a href="https://mercomindia.com/funding-and-ma-roundup-raygen-storage/" target="_blank" rel="noopener">acquired</a> a 60% share in Unisun Energy, a Netherlands-based renewable energy project developer and engineering, procurement, and construction service provider.</p>
<p>In May 2021, Alternus Energy <a href="https://mercomindia.com/project-finance-brief-lightsource-bp-4/" target="_blank" rel="noopener">acquired</a> a 20 MW solar park LJG Green Source Energy Beta SRL in Romania from Risen Energy for €22 million (~$26.4 million). The solar park has been in operation since 2013 and produces approximately 25.5 GWh of power annually.</p>
<p>Mercom had earlier <a href="https://mercomindia.com/bayware-acquires-enable-energy/" target="_blank" rel="noopener">reported</a> that BayWa r.e. acquired Enable Energy, a U.S.-based commercial and industrial solar and energy storage solutions provider. The company says it currently has 3 GW of renewable energy online while managing 8.3 GW of assets around the world.</p>
<p>According to Mercom&#8217;s <a href="https://mercomcapital.com/product/1h-q2-2021-solar-funding-ma-report/" target="_blank" rel="noopener">1H and Q2 2021 Solar Funding and M&amp;A Report</a>, in 1H 2021, 135 projects were acquired, totaling 39.3 GW compared to 91 project acquisitions for 14.7 GW in 1H 2020.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Alternus Energy Acquires a 64.6 MW Solar Project in Poland from BayWa r.e.

<p>Poland&#8217;s Energy Regulatory Office (<a href="https://www.ure.gov.pl/pl">URE</a>) has allocated 2.5 GW of renewable capacity in the latest round of auctions conducted by Renewable Energy Sources (RES) in May and June this year. Through these auctions, solar PV installations of 2.2 GW and 0.3 GW of onshore wind will be installed.</p>
<p>37 TWh of electricity worth over PLN 8.5 billion (~$2.23 billion) was contracted in these auctions.</p>
<p>The total amount of energy offered by developers (over 32.5 TWh) accounted for nearly 84% of the amount of energy specified in the auction notice. The total value of energy offered by developers – over PLN 7.7 billion (~$2.02 billion) – accounted for less than 72% of the energy value specified in the auction.</p>
<p>The ceiling tariff in this basket was PLN 320 (~$84.23)/MWh for solar projects and PLN 250 (~$65.81)/MWh for wind projects. The minimum tariff discovered in these auctions was PLN 179 (~$47.12)/MWh for onshore wind projects and PLN 209 (~$55.02)/MWh for solar projects.</p>
<p>The auction for small (less than 1 MW) photovoltaic (PV) and onshore wind installations attracted the greatest interest, with 432 developers joining the auction, submitting a total of 1,264 bids. However, all the bids were made for PV installations.</p>
<p>Meanwhile, 88 developers participated in the auctions for larger units (capacity exceeding 1 MW) in PV and onshore wind installations, submitting a total of 111 bids. Within this basket, over PLN 10.7 billion (~$2.81 billion) was allocated to purchase 38.7 TWh of energy.</p>
<p>Around 24.7 TWh of electricity was sold (64% of the amount of energy intended for sale) offered by 72 developers, with a total value of less than PLN 5.7 billion (~$1.5 billion), 53% of the energy value intended for sale. In 2021, the URE had allocated just over 68 TWh of electricity from renewable sources for sale under all auctions, with a total value of nearly PLN 24 billion (~$6.32 billion). Of this, over 36.7 TWh (54%) of the energy volume with a total value of over PLN 8.5 billion (~$2.23 billion), 36%, was sold.</p>
<p>In November 2020, 1.7 GW of new energy capacity was <a href="https://mercomindia.com/poland-solar-wind-auction/">sold</a> in auction development in Poland, including 800 MW of solar installations and 900 MW of wind.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rahul-nair/" class="vcard author" rel="author"><span class="fn">Rahul Nair</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p>Rahul is a staff reporter at Mercom India. Before entering the world of renewables, Rahul was head of the Gujarat bureau for The Quint. He has also worked for DNA Ahmedabad and Ahmedabad Mirror. Hailing from a banking and finance background, Rahul has also worked for JP Morgan Chase and State Bank of India. <a href="https://mercomindia.com/author/rahul-nair/" rel="noopener noreferrer">More articles from Rahul Nair.</a></p>
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Poland Awards 2.2 GW of Solar Projects in RES Auction

<p>Macquarie&#8217;s Green Investment Group (<a href="https://www.greeninvestmentgroup.com/" target="_blank" rel="noopener noreferrer">GIG</a>) has launched Cero Generation, a specialist solar energy company working across Europe to support a net-zero future transition.</p>
<p>Consolidating GIG&#8217;s existing and future European solar activities, Cero has one of the largest solar development portfolios in the region, with an 8 GW portfolio comprising over 150 projects in the U.K., Italy, Spain, Poland, France, and the Netherlands.</p>
<p>Working across the project lifecycle, from development through construction and into operations, Cero specializes in the delivery of utility-scale projects, on-site generation, and integrated storage.</p>
<p>Through its on-site, behind the meter projects, Cero develops, finances, builds, owns, and operates assets for commercial and industrial customers and helps reduce energy bills while enhancing its reputation and achieve decarbonization goals.</p>
<p>In North America and the Asia-Pacific region, GIG&#8217;s solar development activities are delivered through Savion LLC and Blueleaf Energy. Together with Cero, these platforms progress a global pipeline of over 20 GW of solar energy projects.</p>
<p>&#8220;The launch of Cero Generation marks an important milestone in GIG&#8217;s ambition to create Europe&#8217;s leading solar development company. An agile, flexible, development-focused business, backed by the global expertise, resources, and reach of GIG, Cero is the perfect vehicle to propel us forward to the next stage of that journey,&#8221; said Edward Northam, head of GIG, U.K., and Europe.</p>
<p>&#8220;In just two years, GIG created one of Europe&#8217;s largest solar development portfolios and assembled a world-class team of experts. Our ambition is to continue on this phenomenal growth trajectory, transforming Cero into Europe&#8217;s leading solar energy company, and helping deliver the continent&#8217;s net-zero ambition,&#8221; Nikolaj Harbo, CEO, Cero Generation, said.</p>
<p>In September last year, Total, a France-based oil and gas company <a href="https://mercomindia.com/total-macquarie-develop-over-2-gw-floating-wind-projects/" target="_blank" rel="noopener noreferrer">announced</a> that it had joined hands with Macquarie&#8217;s Green Investment Group to develop over 2 GW of floating offshore wind projects in South Korea. The two companies entered into a 50:50 partnership to develop five floating offshore wind projects on the country&#8217;s eastern and southern coasts.</p>
<p>In 2018, GIG <a href="https://mercomindia.com/gic-acquires-conergy-solar-asia-middle-east/" target="_blank" rel="noopener noreferrer">acquired</a> a solar development portfolio from Conergy Asia and the Middle East. The portfolio included solar development assets in the Asia Pacific region, commercial, technical, energy storage capabilities, and an asset monitoring center.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rahul-nair/" class="vcard author" rel="author"><span class="fn">Rahul Nair</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p>Rahul is a staff reporter at Mercom India. Before entering the world of renewables, Rahul was head of the Gujarat bureau for The Quint. He has also worked for DNA Ahmedabad and Ahmedabad Mirror. Hailing from a banking and finance background, Rahul has also worked for JP Morgan Chase and State Bank of India. <a href="https://mercomindia.com/author/rahul-nair/" rel="noopener noreferrer">More articles from Rahul Nair.</a></p>
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Macquarie’s Green Investment Group Launches Solar Energy Company With an 8 GW Portfolio

<p>The largest renewable energy auction conducted by the Energy Regulatory Office (<a href="https://www.ure.gov.pl/en" target="_blank" rel="noopener noreferrer">ERO</a>) in Poland took place on November 26, 2020. The auction was intended for solar developers with an installed capacity of more than 1 MW.</p>
<p>As per the ERO&#8217;s announcement, 96 bids submitted by 70 renewable energy developers were selected in the auction. ERO had received 127 bids in total (64 bids for wind farms and 63 bids for solar projects). The amount of energy for sale in this auction was 46.3 TWh, with a value of over PLN 14 billion (~$3.83 billion).</p>
<p>The renewable energy generators offered bids nearly 20% more than the tendered capacity. Moreover, the total value of energy proposed by the generators accounted for almost 91% of the energy value specified in the tender.</p>
<p>The minimum price discovered in the tender was PLN 190 ($51)/MWh or PLN 0.19 (~$0.051)/kWh, and the maximum price discovered was PLN249.9 ($70)/MWh or PLN 0.24 (~$0.07)/kWh. The auction winners have 33 months for wind and 24 months for solar installations to start selling the contracted electricity.</p>
<p>This year&#8217;s average price offered by the winners was 7.5% higher than the average price of the winners last year.</p>
<p>In the last year&#8217;s auction, nearly 78 TWh of energy worth PLN 16.2 billion (~$4.43 billion) was sold in a similar auction. The lowest tariff discovered in the auction was PLN 0.16 (~$0.04) /kWh, and the highest was PLN 0.23 (~$0.06)/kWh.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2020/12/Poland_Auction-Results-for-Solar-PV-and-Wind-Projects.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-23304" src="https://mercomindia.com/wp-content/uploads/2020/12/Poland_Auction-Results-for-Solar-PV-and-Wind-Projects.png" alt="Poland_Auction Results for Solar PV and Wind Projects" width="374" height="170" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2020/12/Poland_Auction-Results-for-Solar-PV-and-Wind-Projects.png 374w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2020/12/Poland_Auction-Results-for-Solar-PV-and-Wind-Projects-300x136.png 300w" sizes="(max-width: 374px) 100vw, 374px" /></a></p>
<p>According to the release, nearly 42 TWh of electricity was sold in the auction. As a result of the auction, a capacity of 1.7 GW of new energy capacity would be developed, which would include 800 MW of solar installations and 900 MW of wind.</p>
<p>Last month, Poland&#8217;s R.Power <a href="https://mercomindia.com/solar-auction-in-kazakhstan/" target="_blank" rel="noopener noreferrer">secured</a> funding to construct a portfolio of solar farms in the country with a total capacity of 183 MW. Santander and mBank provided PLN 530 million (~$145 million) that will be used to finance the projects that R.Power won in recent solar auctions,with the company saying it will sign 15-year contracts to provide them with guaranteed tariffs for the electricity generated.</p>
<p>Earlier, the European Investment Bank <a href="https://mercomindia.com/eib-3-55-billion-for-renewable-expansion-in-europe/" target="_blank" rel="noopener noreferrer">announced</a> that it would provide €3 billion (~$3.65 billion) for renewable energy projects across Europe and worldwide. This would be a part of EIB&#8217;s €12.6 billion(~$15.3 billion) plan for new funding for transport, clean energy, and urban development.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Poland Allocates 800 MW of Solar and 900 MW of Wind Capacity in Latest Auction

<p>Solar developer <a href="http://www.renesolapower.com/" target="_blank" rel="noopener noreferrer">ReneSola Power</a> announced that it had raised €10.64 million (~$12 million) through bridge funding from <a href="https://www.eib.org/en/products/equity/funds/eiffel_energy_transition_fund" target="_blank" rel="noopener noreferrer">Eiffel Energy Transition Fund</a> to construct 19 MW of solar projects in Poland.</p>
<p>ReneSola Power said that this was the second bridge financing that Eiffel Energy Transition Fund had provided the company. The funds would be used to expand its project development and execution efforts in Hungary and Poland, according to the company’s statement.</p>
<p>“Despite ongoing challenging macro conditions related to COVID-19, we have begun the construction of the 19 MW solar projects in Poland. We are very pleased with our progress and look forward to further supporting solar development in the years ahead,” said Yumin Liu, ReneSola Power Chief Executive Officer.</p>
<p>ReneSola Power has pipeline projects with a total capacity of 29 MW and 26.7 MW in Poland and Hungary, respectively. The company set the target to have pipeline capacities of 150 MW in Poland and 100 MW in Hungary by the end of 2020.</p>
<p>“We have successfully developed solar projects in Poland and have sold over 81 MW of projects in the last four years. Poland remains a key market for ReneSola Power, and we are committed to our strategy to expand our business further and become a major player in Poland and other European markets,” said Josef Kastner, CEO of ReneSola Power Europe.</p>
<p>Eiffel Energy Transition Fund is a dedicated fund that grants flexible bridge financing for renewable energy projects across Europe. The European Union Bank sponsored the fund, which was managed by France-based asset management firm <a href="https://www.eiffel-ig.com/" target="_blank" rel="noopener noreferrer">Eiffel Investment Group</a>.</p>
<p>In April 2020, ReneSola <a href="https://mercomindia.com/renesola-investment-solar-module-manufacturing/" target="_blank" rel="noopener noreferrer">had announced</a> that it signed a $100 million strategic investment agreement with the Zhongnan Industry, a subsidiary of Zhongnan Holding Group. Both companies are headquartered in China. According to the agreement, Zhongnan Industry would invest $100 million to strengthen ReneSola’s solar module manufacturing supply chain.</p>
<p>Notably, total corporate funding for solar – including venture capital funding, public market, and debt financing – <a href="https://mercomindia.com/corporate-funding-solar-slid-globally/" target="_blank" rel="noopener noreferrer">dipped</a> 25% to $4.5 billion (~₹336.1 billion) in the first half of 2020 from $6 billion (~₹448.1 billion) in the same period last year. The findings were revealed in Mercom Capital Group’s recently released <a href="https://mercomcapital.com/product/1h-q2-2020-solar-funding-ma-report/" target="_blank" rel="noopener noreferrer">1H and Q2 2020 Solar Funding and M&amp;A Report</a>. The report explained that even though there was a considerable fall in funding activity, things were not as bad as it could have been given the ongoing coronavirus crisis, which has put the global economy in turmoil. The report covered 203 companies and investors from around the world.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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