European Union has approved a $6.7 Billion Grant for Solar Projects in France

The European Commission has approved a €5.7 billion ($6.7 billion) aid program to help small solar installations on buildings in France generate renewable energy. The action will assist France in meeting its 2030 goal of providing 33% of its energy consumption from renewable sources, as well as contributing to the European goal of attaining carbon neutrality by 2050. The initiative, which has a provisional budget of roughly €5.7 billion, will be offered to operators of small solar installations on buildings with a capacity of up to 500 kW and will operate until 2026. With the assistance, France plans to create 3,700 MW of additional solar energy.

Masdar, a renewable energy firm based in Abu Dhabi, has opened the 100-megawatt Nur Navoi solar farm in Uzbekistan. When fully operational, the plant will generate enough electricity to power 31,000 homes while also removing 150,000 tonnes of CO2 from the atmosphere each year. Masdar agreed to design, finance, build, own, and operate the solar project in 2019 with Uzbekistan and JSC National Electric Grid of Uzbekistan. Nur Navoi Solar was formed as the local project firm to deliver the PV plant as well as manage and maintain it for the next 25 years.

Statkraft, a renewable energy producer, has signed power purchase agreements (PPAs) with Aquila Capital, a German asset manager, for power from 111.6 MW of wind projects under development in Finland. Aquila Capital will offer Statkraft with 100 % green electricity from two wind farms at Mastokangas and Korkeakangas under the long-term PPAs, which will begin in 2022. The wind farms are now being built and are projected to be completed by the end of 2021 or the beginning of 2022. The wind farms will have a total installed capacity of 111.6 MW and will produce more than 350 GWh of wind energy per year once completed.

Vestas, a Denmark-based wind turbine manufacturer, has launched Covento, a digital marketplace that connects buyers and sellers of components and services from a variety of renewable energy technologies. The portal will list items and services from Vestas and third-party sellers, as well as allow delivery of goods from both Vestas and third-party vendors. Covento will be launched in a few European nations later this year, with plans to spread to the United States and Canada in 2022.

Sarawak Shell Berhad, a subsidiary of Royal Dutch Shell, has committed to investing in a solar and wind hybrid renewable energy system for the Timi gas exploration project off the coast of Sarawak, Malaysia. Timi will be 200 kilometers off the coast of Malaysia and is being developed in collaboration with Petronas Carigali and Brunei Energy Exploration. The company claims that it would be Malaysia’s first solar and wind-powered wellhead platform.