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Leading US Solar Company Shutters Storage Division: What It Means For The Industry

SolarEdge Technologies has announced a strategic decision to cease operations in its energy storage division, signaling a focused shift toward its core solar activities. This pivotal move aligns with the company’s goal of refining its business priorities while navigating the competitive landscape of renewable energy.

As part of this transition, SolarEdge will downsize its workforce, impacting around 500 employees, primarily based in South Korea. The company projects significant cost savings from this decision, estimating a reduction in quarterly operating expenses of approximately $7.5 million. These savings are expected to reach their full potential by the latter half of 2025. In addition, SolarEdge plans to sell off the assets tied to the storage division, including manufacturing facilities for battery cells and packs, underscoring its intent to streamline operations. Notably, this move will not affect the sale of solar-connected batteries designed for residential and commercial and industrial (C&I) markets.

Interim CEO Ronen Faier highlighted the strategic rationale behind this decision, emphasizing a meticulous evaluation of the company’s business portfolio, market dynamics, and the broader competitive environment. Faier expressed gratitude to the employees of the energy storage division for their contributions, acknowledging their efforts in building the division.

The closure reflects SolarEdge’s commitment to two primary objectives: achieving financial stability through cost reduction and focusing on core business areas such as solar technology, PV-attached storage, and energy management solutions. This streamlined approach aims to return the company to cash flow positivity and enhance overall profitability, ensuring its resilience in the evolving renewable energy sector.

By focusing its resources on its solar and PV-attached storage segments, SolarEdge is positioning itself as a more agile and competitive player in the global energy transition. The company’s decision underscores a broader trend in the renewable energy industry, where firms are strategically narrowing their focus to optimize financial performance and maintain market leadership. As the solar sector continues to grow, SolarEdge’s renewed focus on its strengths reflects its commitment to driving innovation and meeting the needs of its customers while adapting to shifting industry demands. #SolarEdge #RenewableEnergy #EnergyStorage #SolarPower #GreenEnergy #Sustainability #EnergyTransition #BusinessStrategy #SolarInnovation

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Green Energy Milestone: GSEO Launches Third Solar Power Project In Australia

VH Global Sustainable Energy Expands Renewable Portfolio with Third Solar-Storage Site in Australia

VH Global Sustainable Energy Opportunities (GSEO) has successfully completed its third solar and storage hybrid system in New South Wales, Australia. This milestone follows the earlier commissioning of two similar hybrid systems in the state, marking a significant step forward in the company’s Australian energy transition program. The latest site features a solar PV system integrated with a DC-coupled two-hour 4.95MW battery energy storage system (BESS). By coupling solar energy generation with advanced storage solutions, the project enhances grid stability while addressing Australia’s growing energy demands with a reliable and efficient renewable energy supply.

With this addition, GSEO’s operational portfolio now accounts for 69% of its total assets, a notable increase from 61% recorded in mid-2024. The Australian program now includes five fully operational assets, with two more currently under construction. By 2025, the program is expected to achieve a total capacity of 37MW/60MWh, distributed across seven renewable energy sites in New South Wales, Queensland, and South Australia. This expansion highlights GSEO’s commitment to supporting Australia’s renewable energy goals through innovative solar and storage solutions.

GSEO is also delivering strong financial returns alongside its sustainability efforts. The company is targeting a total unlevered NAV return of 10% (net of fees) and continues to offer a progressive annual dividend, currently targeting 5.68p per share for the year ending December 31, 2024, paid quarterly and covered 1.1 times as of June 30, 2024. This achievement underscores GSEO’s dedication to advancing clean energy infrastructure while delivering reliable returns for its stakeholders, paving the way for a more sustainable future. #RenewableEnergy #Sustainability #SolarStorage #EnergyTransition #CleanEnergy #AustraliaRenewables #VHGlobalEnergy #SolarPower #BatteryStorage

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Floating Solar Power Set To Soar To 77GWdc By 2033

Floating Solar: A Rising Star in Renewable Energy

Floating solar photovoltaic (FPV) technology is set to grow rapidly, with global installations expected to reach an impressive 77GWdc within the next decade, according to Wood Mackenzie’s latest report. This exciting technology offers innovative solutions to challenges like land scarcity and rising energy demand, making it a key player in the renewable energy sector. The Asia-Pacific (APAC) region leads the charge, accounting for a remarkable 81% of global floating solar projects. Projections indicate that APAC will continue to dominate, with nine of the top ten FPV markets and an estimated capacity of 57GWdc by 2033.

Countries like India, China, and Indonesia are at the forefront of this revolution, together boasting 31GWdc of installed FPV capacity. In 2024 alone, APAC is expected to contribute 90% of the 1.7GWdc of new FPV capacity coming online. This highlights the region’s pivotal role in addressing energy needs while reducing environmental impacts. Europe is also making strides, with Germany, France, and the Netherlands predicted to account for over 60% of the continent’s FPV capacity by 2033. Germany leads the European market, with a projected 2.2GWdc capacity, followed by France at 1.2GWdc and the Netherlands at 1GWdc. However, Europe faces growth barriers like strict coverage and distance limits, which could hinder its progress compared to APAC’s momentum.

In the United States, FPV adoption is still in its early stages, with just 0.7GWdc projected by 2033. Challenges like limited land availability and higher costs compared to traditional ground-mounted systems have slowed development. However, growing interest from renewable energy companies such as BayWa r.e., Ciel & Terre, and Sungrow is creating momentum. Cost is a critical factor for FPV growth. While FPV systems cost $0.13 to $0.15 more per watt than ground-mounted systems, the falling prices of high-efficiency solar modules like PERC and TOPCon are helping reduce overall costs. Supportive policies and the rising demand for clean energy are fueling optimism about the sector’s future.

Hybrid FPV-hydro projects, which use reservoirs to combine energy generation and storage, are also gaining traction. These projects are expected to peak between 2026 and 2028, although longer development timelines pose a challenge. Despite its potential, FPV faces hurdles such as complex approval processes and inconsistent technical standards. These issues have delayed some installations from 2024 to 2026 or later. Addressing these challenges through streamlined policies and harmonized standards will be crucial to unlocking FPV’s full potential.

Floating solar represents a unique blend of innovation and sustainability. It addresses pressing issues like land constraints while contributing significantly to renewable energy goals. With strong growth projected in APAC, Europe, and beyond, floating solar is emerging as a transformative solution for a greener future. As costs drop and technologies improve, the future of floating solar looks brighter than ever. #FloatingSolar #RenewableEnergy #SolarInnovation #CleanEnergy #Sustainability #GreenFuture #HybridEnergy #SolarPV #GlobalEnergyTrends

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Slashing Energy Bills: Why Raising The UK’s Solar Target Is The Key To Affordable Power

Unlocking a Brighter Future: Solar Energy UK Calls for Ambitious 60GW Target by 2030

Solar Energy UK is urging the government to triple the country’s solar generation capacity to 60GW by 2030, presenting it as a game-changing opportunity to lower electricity costs, cut emissions, and secure energy independence. Backed by research from Durham University Energy Institute, the call highlights the transformative potential of scaling up solar energy in the UK. The analysis shows that hitting this ambitious target would:

  • Lower Energy Costs: Reducing electricity costs by 12% compared to current projections.
  • Strengthen Energy Security: Decreasing reliance on expensive natural gas imports.
  • Accelerate Clean Energy Goals: Helping deliver clean power by 2030 while reducing dependence on unproven carbon capture technologies.

The Case for 60GW:
Solar Energy UK emphasizes that a 60GW target isn’t just ambitious but essential to de-risk the UK’s Clean Power Plan. Achieving this would diversify energy sources, maximize wind generation efficiency, and build a sustainable energy future. In contrast, the National Energy System Operator (NESO) proposed a modest 47.4GW capacity by 2030, relying on outdated assumptions. Solar Energy UK countered this, estimating the true capacity by the end of 2024 will already approach 20GW, thanks to growing solar farms, rooftop installations, and local initiatives like London’s Warm Homes Fund and Future Homes Standard. Chris Hewitt, Chief Executive of Solar Energy UK, stated:
“Solar and batteries can be deployed rapidly, offering the government an unprecedented opportunity to accelerate clean power delivery. Setting a goal to treble solar capacity to 60GW will provide the lowest-cost, home-grown energy while creating thousands of secure jobs. However, we must reform the grid connection process to ensure ready-to-build renewable projects are not delayed for years.”

Current Solar Progress:

  • Operational Capacity: 11.5GW of solar farms, 8.5GW on rooftops (residential, commercial, industrial).
  • Pipeline Projects: 3GW under construction, 11GW with planning consent.
  • 2024 Projection: 20GW total capacity.

With rooftop capacity surging and 3GW of solar farms being built, this bold vision is within reach. Solar Energy UK is rallying support from over 400 members, industry data, and the public to make the case for this transformative target.

The Impact:
By aiming higher, the UK can lead the charge in renewable energy, creating a more resilient energy system, slashing costs, and providing thousands of new jobs—all while safeguarding the environment. #SolarRevolution #RenewableEnergy #NetZero #Sustainability #CleanEnergy #EnergyIndependence #SolarPower #GreenJobs #FutureIsSolar

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Game-Changer In Renewable Energy: Plans Unveiled For Massive 840MW UK Solar Site

Plans Unveiled for the UK’s Largest Solar Farm: The 840MW Botley West Project

Photovolt Development Partners has officially submitted plans for the ambitious 840MW Botley West Solar Project in Oxfordshire to the Planning Inspectorate. If approved, this groundbreaking solar farm will generate enough renewable energy to power 330,000 homes, equating to every household in Oxfordshire. Declared a climate emergency zone in 2019, Oxfordshire also has one of the UK’s most carbon-intensive power grids. The Botley West project is poised to revolutionize the region’s energy landscape by significantly increasing green energy capacity, creating jobs, and promoting biodiversity. The site will transform intensively farmed land into a hub for renewable energy, grazing pastures, and wildlife habitat. 

Why Botley West Matters:

  • Massive Environmental Impact: Aims for a 70% biodiversity net gain, with new hedgerows, grazing pastures, tree planting, and protection of ancient woodlands.
  • Community-Centric: Years of consultation have resulted in new walking paths, greater distances from residential areas, and a financial benefits package for local communities.
  • Public Support: Research by Public First reveals 66% of Oxfordshire residents support solar farms within 3 miles of their homes, with 82% of Britons backing renewable energy expansion.

Mark Owen-Lloyd, Director at Photovolt, expressed optimism: “Botley West will be instrumental in achieving the UK’s Net Zero goals and mitigating the effects of climate change. This £800 million project is a testament to our commitment to sustainable development and community engagement.” Once operational, the solar farm will not only power homes but also create skilled jobs, support local businesses, and contribute to the fight against climate change. The Planning Inspectorate will now review the proposal through a thorough evidence-based approach as outlined in the Planning Act 2008.

Highlights of Botley West Solar Project:

  • Power Output: 840MW, energizing 330,000 homes.
  • Investment: £800 million, creating hundreds of jobs.
  • Biodiversity Gains: 70%, with new trees, hedgerows, and wildlife habitat.
  • Community Impact: Improved walking paths and financial benefits for locals.

This transformative project is a beacon of what’s possible when innovation meets sustainability, paving the way for a greener, brighter future. #SolarPower #RenewableEnergy #Sustainability #ClimateAction #Biodiversity #CleanEnergy #GreenJobs #NetZero #BotleyWest #Oxfordshire

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Rio Tinto Taps Bechtel for Groundbreaking U.S. Solar Project

Rio Tinto and Bechtel Join Forces for a Sustainable Future with Utah Solar Project

Bechtel has been chosen by Rio Tinto to lead the design and construction of the 25MW Copperton Phase 2 Solar project in Utah, a key step towards powering operations at the Kennecott mine—one of the world’s largest open-pit copper mines. This groundbreaking partnership marks Bechtel’s first venture with Rio Tinto in renewable energy, emphasizing both companies’ commitment to sustainable solutions and Rio Tinto’s goal of achieving net-zero emissions by 2050. 

The Copperton Phase 2 Solar project represents a bold move toward greener mining practices. Scott Austin, Bechtel’s General Manager of Renewables & Clean Power, shared:
“We are thrilled to expand our long-standing relationship with Rio Tinto into clean energy. This project embodies climate commitments in action, and we’re excited to deliver this innovative renewable power solution.”

When completed in late 2025, this solar farm will cover 210 acres, utilizing 71,000 high-efficiency bifacial solar modules to generate clean energy. Bechtel plans to leverage advanced digital delivery methods and cutting-edge autonomous technologies for optimal construction and commissioning. At its peak, the project will create 100 local construction jobs, boosting the regional economy.

Rio Tinto Kennecott Managing Director, Nate Foster, added:
“Expanding our solar farm is another critical step in reducing our carbon footprint. Alongside initiatives like closing coal-fired power plants, deploying electric vehicles underground, and transitioning to renewable diesel, we’re proving that sustainable practices can go hand-in-hand with resource production to benefit both our company and community.”

This new 25MW facility will sit adjacent to Kennecott’s existing 5MW solar plant, enhancing the mine’s renewable energy capacity.

Highlights of the Copperton Phase 2 Solar Project:

  • Supports Rio Tinto’s decarbonization efforts and Kennecott mine operations.
  • 71,000 bifacial solar modules spread across 210 acres.
  • Incorporates advanced technologies and digital methods for efficient delivery.
  • Creates 100 local construction jobs at peak.

This partnership showcases the mining industry’s ability to integrate clean energy solutions while driving economic growth and community benefits.

#CleanEnergy #Sustainability #SolarPower #MiningInnovation #Decarbonization #Bechtel #RioTinto #RenewableEnergy

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Norbida UK Sharing This Exciting Opportunity: Cubico Launches Public Consultation For Frodsham Project

Cubico Sustainable Investments has launched the second phase of public consultation for the 130MW Frodsham Solar Farm, located north of Frodsham in Cheshire, England. This project is a step forward for clean energy, aiming to power over 40,000 homes by 2029 and align with the vision for a Net Zero North West by 2040. Frodsham Solar also supports Cheshire West and Chester’s goal to reach net zero by 2045, contributing to a sustainable future for the community. 

Clean Energy Vision Frodsham Solar’s plans feature ground-mounted solar panels combined with a Battery Energy Storage System (BESS), ensuring reliable energy for peak demand periods. Located alongside the existing 50MW Frodsham wind farm and near the Protos energy hub, the project will contribute clean electricity directly into the regional grid via the Frodsham substation. Additionally, a “private-wire connection” will enable power generated on-site to be supplied directly to local industries, helping to meet high regional demand while reducing reliance on fossil fuels. 

Enhancing the Local Landscape and Community This project goes beyond energy production; it includes 4.5 km of new paths, improved public rights of way, and biodiversity support initiatives. Plus, Cubico is committing over £2 million to a Community Fund to support local initiatives, including addressing fuel poverty, job training, and other community-driven needs. 

Get Involved! After an initial consultation in June and July 2023, Cubico is now inviting feedback on its revised plans from 14 November until 19 December 2024. Local residents can participate by attending information events, completing online feedback forms, or joining a virtual session. Feedback is crucial for shaping the project to meet community needs, and Cubico encourages all interested individuals to share their insights. 

Upcoming Information Events: Cubico will be hosting five in-person events and an online webinar, allowing attendees to learn more and speak with the project team directly:

  • Christchurch Hall, Weston Point – Monday, 25 Nov, 3pm–7pm
  • Helsby Community Centre – Tuesday, 26 Nov, 2pm–6:30pm
  • Elton Community Centre – Friday, 29 Nov, 3pm–7pm
  • Frodsham Community Centre – Saturday, 30 Nov, 1:30pm–5:30pm and Monday, 2 Dec, 2:30pm–6:30pm
  • Online Community Webinar via Zoom – Wednesday, 4 Dec, 6pm–7:30pm (register on the project website)

How to Share Feedback: Community members can submit feedback by filling out the online form on the project website www.frodshamsolar.co.uk, by attending an event, or by contacting Cubico via email (info@frodshamsolar.co.uk) or by writing to their freepost address (FREEPOST FRODSHAM CONSULTATION). The deadline for feedback is Thursday, 19 December 2024.

Frodsham Solar Development Manager Mark Flaherty shared, “This project is an exciting opportunity to strengthen the region’s low-carbon industry, support clean energy goals, and reduce energy costs. We’re eager to build on our community relationships and encourage everyone to get involved.” Join us in shaping a brighter, cleaner future for Cheshire!  #CleanEnergy #FrodshamSolar #NetZeroNorthWest #SustainableFuture #CommunityEngagement #SolarEnergy #GreenEnergy #BatteryStorage #Cubico

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Island Green Power Advances Ambitious 500MW Solar Project With Community Consultation

Island Green Power Launches Public Consultation for Ambitious 500MW East Pye Solar Farm in Norfolk 

Island Green Power (IGP) is taking a significant step towards a sustainable future by launching a public consultation for its proposed 500MW East Pye solar farm in South Norfolk, England. If approved, this innovative project will transform land near Long Stratton into a vibrant source of renewable energy, featuring cutting-edge solar panels and a Battery Energy Storage System (BESS).

A Clean Energy Revolution

The East Pye solar farm is poised to make a considerable impact on the local and national energy landscape. With its robust generation capacity, the facility will be connected to the National Grid through a new substation and the existing 400kV overhead line that runs from Norwich Main to Bramford. The BESS will play a crucial role in optimizing energy flow by storing excess energy produced during sunny periods and releasing it during peak demand, effectively reducing the risk of power outages and contributing to a more resilient energy grid.

Engaging the Community

Since the East Pye Solar project is classified as a Nationally Significant Infrastructure Project (NSIP), it requires a Development Consent Order (DCO). This means that the planning process will include multiple stages of public consultation, allowing IGP to gather valuable feedback from the community, local authorities, and other stakeholders. This input is vital for shaping the project to ensure it aligns with local needs and aspirations.

Samantha Jones, Project Development Manager for East Pye Solar, expressed enthusiasm about the initiative, stating, “We are excited to bring forward these plans for East Pye Solar, which, if built, will generate clean ‘homegrown’ electricity for homes and businesses. This project supports the national ambition to achieve net zero while securing a reliable, affordable source of electricity.”

A Commitment to Local Benefits

IGP is dedicated to engaging with the local community throughout the development process. The public consultation is now open and will run until Friday, December 6, 2024. IGP is eager to hear from residents and stakeholders, as their feedback will be instrumental in refining the project’s proposals. This collaborative approach aims to ensure that the final designs not only fulfill the energy ambitions of the project but also provide tangible benefits to the local area, such as environmental enhancements and direct funding for local causes.

Join the Conversation

Residents and stakeholders are encouraged to participate in the consultation process, share their views, and help shape the future of renewable energy in Norfolk. This project is not just about generating electricity; it’s about fostering community engagement, supporting local initiatives, and contributing to a greener, more sustainable future for all. As we embark on this journey toward cleaner energy, your voice matters. Join Island Green Power in building a sustainable future for Norfolk and beyond! #IslandGreenPower #EastPyeSolar #RenewableEnergy #SustainableFuture #PublicConsultation #CleanEnergy #SolarPower #NetZero #CommunityEngagement #BatteryStorage #NorfolkEnergyTransition

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ISG And Anglian Water Join Forces With New Solar PPA To Power A Greener Future

Powering Sustainability: ISG Renewables Secures 15-Year PPA with Anglian Water for UK Solar Energy 

ISG Renewables, a joint venture between Innova and Schroders Greencoat, has secured a 15-year corporate power purchase agreement (CPPA) with Anglian Water for the entire renewable output of its 28MW Elms Farm solar project in the UK. This agreement represents a significant leap forward in both partners’ commitment to sustainability and renewable energy sourcing. Under the CPPA, Anglian Water will receive traceable, 100% renewable energy from the Elms Farm solar farm, currently under construction and expected to go live later this year. Once operational, the site will produce 29,000 megawatt hours annually—a volume of green energy that will meet Anglian Water’s electricity needs for the next 15 years, reinforcing their efforts to reduce carbon emissions and operational costs sustainably.

A unique element of this partnership is the power balancing and shaping services provided by EDF, which collaborates with ISG Renewables and Anglian Water to ensure a consistent, reliable energy supply through licensed supplier SSE. EDF’s involvement not only enhances power reliability but also supports grid stability by aligning production with demand, a crucial factor in corporate renewables. Andy Peyman, Head of Energy Sales at Innova, expressed pride in the partnership, noting, “We’re delighted to have worked with Anglian Water on this PPA, especially during challenging times for the energy markets. The PPA was critical for the site’s progress, and we look forward to bringing the solar farm to energisation soon. A big thanks to Anglian Water for their commitment and to EDF for providing balancing and shaping.” This CPPA has not only driven Elms Farm’s financial close but is paving the way for a more resilient and sustainable energy future for both the UK and Anglian Water. Here’s to corporate partnerships that build a cleaner, greener tomorrow! #ISGRenewables #AnglianWater #SolarEnergy #RenewablePower #CorporatePPA #ElmsFarm #SustainableFuture #UKRenewables #EDF #GreenEnergy #ClimateAction #EnergyPartnership

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EBRD Fuels Croatia’s Green Future With 100MW Solar Project Investment

Croatia’s Solar Future Shines Bright!  The EBRD Backs HEP with €32M Loan for 100MW Solar Farm

The European Bank for Reconstruction and Development (EBRD) is powering up Croatia’s renewable energy landscape with a major loan of up to €32 million to fund a new solar farm led by Hrvatska Elektroprivreda (HEP), Croatia’s national energy company. This solar farm, boasting around 100MW of installed capacity, is a huge step forward in HEP’s journey toward decarbonization. As Croatia aims for ambitious renewable energy targets by 2030, the Korlat Solar Power Plant is set to become HEP’s largest solar investment to date, and it’s ready to make a significant impact on the nation’s energy mix.

Grzegorz Zielinski, EBRD Head of Energy Europe, emphasized the importance of this initiative: “We’re proud to support HEP’s renewable energy investments in Croatia. The Korlat project underscores the critical role of renewables as a sustainable pathway to replacing fossil fuels, helping Croatia meet its 2030 renewable targets.” As a state-owned entity, HEP plays a crucial role in Croatia’s energy ecosystem by generating, transmitting, and distributing electricity, alongside providing district heating and gas services. This solar investment strengthens HEP’s renewable portfolio while reinforcing EBRD’s commitment to sustainable energy and the region’s long-term decarbonization goals. Together, EBRD and HEP are making strides to reduce fossil fuel reliance and support a cleaner, greener future for Croatia. Let’s celebrate this step forward for European renewable energy! #EBRD #HEP #RenewableEnergy #Croatia #SolarPower #Decarbonization #GreenEnergy #KorlatSolarPlant #SustainableFuture #CleanEnergy #EuropeanRenewables #ClimateAction