Europe Solar Photovoltaic (PV) News

Recent industry report about Europe Solar Photovoltaic (PV) company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Europe Solar Photovoltaic (PV) Market industry experts.

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Single User License
Team License
Corporate License
Book before:

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Europe Solar Photovoltaic (PV) News

  • In January 2023, the European Investment Bank (EIB) and Iberdrola signed a new agreement to accelerate Portugal's energy transition by developing new renewable energy plants. These solar projects are likely to receive a total investment of more than USD 162 million. The European Investment Bank (EIB) will finance around five solar PV plants in the Portuguese regions.
  • In November 2022, Equinor signed an agreement to purchase BeGreen, a leading European solar project developer. The acquisition will strengthen Equinor's capabilities and portfolio within solar PV.
  • In April 2022, Enel Green Power and European Commission announced signing off an agreement under the EU's First Innovation Fund framework for the large-scale projects that are going to contribute to the development of TANGO, which is an industrial-scale production facility for the manufacturing of PV modules at Enel's 3Sun solar panel factory in Catania, Sicily. Under the deal, the factory's expansion will lead to a 15-fold increase in the production capacity to 3 GW per year from 200 MW. This facility is expected to be fully commissioned by July 2024.

Get full market coverage in this industry. Download Sample Report.

  • July 2023: TotalEnergies SE, an oil and gas company announced that it had acquired a portfolio of five solar projects in the Northwest part of Romania from its trusted partner PNE, a German company with a total capacity of more than 200 Megawatt, these projects will help securing the supply of local renewable electricity to meet the country’s needs.
  • April 2023: Amsterdam-based Independent Power Producer Photon Energy NV announced that it had finalised three solar PV projects totalling 6 MWp near the city of Calafat, Romania, and connected the plants to the grid. The newly commissioned solar farms have enabled Photon to pass the symbolic milestone of 100 MWp and reach 103.6 MWp of combined generation capacity across its markets.
  • October 2023, the Solar Energy Corporation of India (SECI) launched a tender in the Indian market to develop about one gigawatt of interstate transmission grid-connected solar projects. The solar projects to be developed will witness the signing off of a 25-year power purchase agreement between developers and SECI. The onset of such gigawatt-scale solar tenders and the development of projects is expected to create a spur in the solar energy market in the near future.
  • In March 2023, BELECTRIC Solar Ltd UK and NextEnergy Solar Fund signed a framework agreement for over 150 MWp in O&M following a competitive tendering process conducted by WiseEnergy. BELECTRIC will add an anticipated portfolio of at least ten solar farms in the United Kingdom with a total capacity of 150 MWp to its O&M footprint after signing a framework agreement for the next three years. The solar power plants range from 5 MW to 34 MW in capacity and are located in several counties across England, including Dorset, Lincolnshire, and East Sussex.
  • March 2023: EDF signed a letter of intent (LOI) with Ansaldo Energia, Ansaldo Nucleare, and Edison to develop small modular reactors (SMRs) in Europe. Through the project, the partners are required to determine the potential for the development and execution of new nuclear power in Italy. The plans are casting a glance at the 2050 carbon-neutrality goals set by the European region. EDF is already involved in three nuclear reactors in Italy: the Nuward SMR, the mid-size EPR 1200 reactor, and the large-size EPR reactor.
  • September 2022: The government of Germany announced the tenders for 1.5 GW of solar energy. The tenders have been launched to accelerate the growth of solar energy in the country. As per the announcement, the bidders were to submit their plans by January 2023.
  • April 2022: General Electric announced its new onshore project in Spain to install and supply 15 wind turbines at an array of wind farms near Miranda de Arga and Berbinzana municipalities in the Navarre region of Spain. It is anticipated that the project will be completed in 2023.
  • In May 2023, the Sindh government announced its plan to transition major provincial hospitals to solar power as part of its broader solar power initiative.
  • In May 2023, the Provincial Minister of Sindh for Energy, Imtiaz Ahmed Sheikh, inaugurated a solar power park at the Karachi Press Club. This 60-KV solar power project will meet 90% of the press club's power requirements.
  • August 2023: As part of President Biden’s Investing in America agenda, the United States Department of Energy (DOE) announced USD 20 million to support the installation of energy-efficient distribution transformers and comprehensive product systems that utilize equipment with electric motors, such as pumps, air compressors, and fans. 
  • June 2023: The Department of Energy (DOE) suggested new energy-efficiency standards for three categories of distribution transformers. Almost all transformers delivered under the new standard would utilize amorphous steel cores, which DOE stated are more energy efficient than those produced by traditional, grain-oriented electrical steel. If adopted within DOE’s proposed timeframe, the new rule would take effect from 2027. To convey products in adherence with the amended standards, the DOE estimated the industry would incur total conversion costs of about USD 270.6 million for liquid-immersed distribution transformers, around USD 69.4 million for low-voltage dry-type distribution transformers, and about USD 3.1 million for medium-voltage dry type distribution transformers.
  • May 2023: Solar Capital has connected an 86 MW solar PV plant to the grid in South Africa's Northern Cape. The new solar farm will generate enough energy to power thousands of homes and businesses in the region. Sungrow has supplied its SG3125HV PV inverters to this project.
  • May 2023: South African construction and mining company, Concor, announced that it has started expanding solar power at East Gate Shopping Center located in Germiston, East Rand region. The project will add 5.74 MW of solar power to the existing 1 MW grid-tied solar plant of the shopping mall. The ongoing solar project aligns with L2D's 2030 net zero targets, which include reducing energy reliance on the nation's unreliable grid.
  • January 2022: BioConstruct announced it had signed a power purchase agreement (PPA) with Cologne-based electricity trading company, Next Kraftwerke in Germany. The company also revealed that, under the agreement, Next Kraftwerke would market 40,000 MWh of biogas electricity in the first quarter of 2022. BioConstruct delivers electricity from its biogas plants and its customers' facilities. A total of 86 biogas CHPs are involved in the fixed-price PPA.
  • May 2022: Enertech Fuel Solutions announced plans to invest INR 600 crore for its foray into the compressed biogas (CBG) business. The investment is expected next year for a pan-India in the CBG business. The project is expected to be developed in different phases. In the first phase, establish four CBG plants in Gujarat, Uttar Pradesh, Punjab, and Haryana. In the second phase, invest one more plant in each of these states, while adding two more plants in Madhya Pradesh.
  • April 2023: Octopus Energy Generation invested in Japanese solar power company Yotsuya Capital, launching it into the Asian renewables market. The agreement aims to accelerate the country's energy transition. The company is expected to support Yotsuya Capital in developing 250MW of new solar farms in Japan over the next five years.
  • June 2022: Japan's government disclosed the winner of its 12th solar energy tender. Pacifico Energy KK won the tender for the solar project with a capacity of 76.8 MW. The company was expected to offer a tariff of USD 0.073 per kWh. The project would be located in Yamaguchi prefecture and is expected to be operational by 2027.
  • April 2022: JERA Co. Inc., one of the leading power companies, finalized a deal to develop a 1GW solar plant with West Holdings Corp., one of the top renewable engineering companies. The project was expected to be operational by 2025. The company would likely invest about USD 1.4 billion in the next three years.
  • In May 2023, the German government announced to ease bureaucratic hurdles for solar power as the country set a new record for photovoltaic installations during the first quarter. The government aims to have 215 GW of solar installed in Germany by 2030, more than tripling existing capacity in seven years.
  • In January 2022: Semper Solaris partnered with Enphase Energy Inc., a global energy technology company, to deploy IQ8 solar microinverters, which provide sunlight backup during an outage, for residential rooftop installations in Germany.
  • In May 2022, GreenYellow was awarded a contract to build 8.03 MWp of solar distributed generation (DG) plants to supply power to a pharmacy chain Grupo DPSP in Brazil. It has signed the agreement with Brazil's Grupo DPSP to install 25,000 PV at five locations, three in Sao Paulo, one in Rio de Janeiro, and one in the Federal District. The contract has a term of ten years, during which GreenYellow will supply 15 GWh of power annually to Grupo DPSP. GreenYellow will provide the entire initial investment and take care of the plant's construction, operation, and maintenance (O&M) for the duration of the contract.
  • In March 2022, Smart Power India (SPI) announced partnering with Adani Solar to promote solar energy usage in rural areas of Uttar Pradesh, Bihar, Jharkhand, and Odisha. Furthermore, SPI signed a memorandum of understanding (MoU) with Adani Solar to ensure equitable access to last-mile electricity and encourage energy transition. The MoU aims to boost the usage of solar rooftop panels and achieve five MW of solar deployment through Adani Solar and partners in rural and peri-urban areas of the Indian states.

Europe PV Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)