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    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

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    SeaMade secures €250m European loan for Belgian offshore wind farms

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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    bp to invest up to £18 billion in UK energy system by 2030

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    Statkraft seeks planning nod for 49.9-MW Scottish wind farm

    VSB Group Expands in France with Acquisition of 143.5 MW Wind Power Portfolio

    Norway to invest in renewable projects in developing countries

    Italian Solar Farms, Matrix in Strategic Partnership with Energia Aljaval

    China installed 48.2 GW of new solar capacity in 2020

    Solek Group signs deal to build solar power plants in Chile

    Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules

    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

    Vattenfall Wind

    UK Government grants consent for Vattenfall’s Norfolk Vanguard Offshore Wind Farm

    New DNV GL class rules for floating offshore wind energy expands industry horizon

    Norway to launch 1.5 gigawatt offshore wind tender

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Velto Renewables supports the 360 MW offshore wind farm London Array

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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    GE’s digital power transformers selected for multiple projects across the globe

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GE & UK Export Finance agree to support 1.35 GW Turkish solar project

in News, Solar Energy
GE & UK Export Finance agree to support 1.35 GW Turkish solar project

GE and UK Export Finance (UKEF), UK’s export credit agency,  announced that agreement has been reached to finance Kalyon Enerji’s 1.35 GW Karapinar solar project located in the Konya Karapinar province. The solar power plant is Turkey’s largest solar facility, approximately 11km long and 3km wide, equivalent to over 4,600 football pitches.

GE Energy Financial Services worked with UKEF, who are set to guarantee a US$291 million [£217 million] Buyer Credit Facility, subject to financial close. This will enable GE to deploy its first FLEXINVERTER solar technology outside the U.S., supporting Turkey’s clean energy goals and facilitating trade for UK suppliers. Financing for the project will be structured on a project finance basis and raised through J.P. Morgan as acting lead arranger and lender supported by the UKEF guarantee.

The integration of the FLEXINVERTER solar technology and the assembly of the solar power station will occur in the UK, supporting around 100 UK jobs [1] directly and indirectly in the supply chain. As part of the localisation requirements, GE’s Grid Solutions site in Gebze, Turkey will be producing transformers for integration in the solar inverter system. In addition to GE’s solar technology, the export contract also covers design, engineering, project management, site management and commissioning.

The UK government has made new commitments to eliminate climate harm from global finance and take action to support the global energy transition at the COP26 UN Climate Summit. As the Summit closes, the UK is now delivering on these pledges by backing major green export deals during its first International Trade Week, an ambitious week of business and sector-led events to encourage businesses of all sizes to sell to the world. International Trade Secretary and UK International Champion on Adaptation and Resilience for the COP26 Presidency, Anne-Marie Trevelyan, said: “UK Export Finance is putting the UK at the heart of the global green energy transition. With over £200 million pounds worth of backing, we are helping to bring solar energy to two million Turkish households. Firm action from the UK alone is not enough to fight the climate crisis. UKEF’s financing encourages other countries to invest in renewable energy and opens new markets for UK businesses that will power a recovery underpinned by green jobs.”

GE Renewable Energy has already completed the commissioning of the FLEXINVERTER solar power station technology for the 267 MW Kalyon Enerji’s Karapinar phase I solar plant. Upon full completion, expected by late 2022, the facility will deliver clean electricity to approximately two million Turkish households.

The project is part of the first Turkish solar YEKA tender launched in 2017 by the Turkish Ministry of Energy under the Renewable Energy Resources Zones (YEKA) programme. The project will help Turkey to continue its expansion of renewable energy resources and commission 10 GW of solar capacity between 2017-27, according to IEA.

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News

bp to invest up to £18 billion in UK energy system by 2030

May 14, 2022
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News

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