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Week in Review: 2018 to see 90 GW of PV installations; 300MW solar for cryptofarm; Neoen launches IPO


05 Oct. 2018 by Tom van der Linden, Solarplaza

What dominated the solar headlines this week? Frost & Sullivan forecasted 90 GW of solar PV additions for 2018; Risen Energy was contracted to develop up to 300 MW of solar generation power to support crypto mining. Neoen launched their IPO.


Week in Review


These were the most important solar industry related news headlines and stories that broke this week.


Megawatt Mining

Risen to build up to 300 MW of solar in Spain for cryptocurrency miner

Risen Energy was approached by Cryptosolartech to develop up to 300 MW solar PV capacity in Malaga, to power their cryptocurrency mining farms in a sustainable and cost-effective manner. In its first phase, 45 MW worth of solar PV capacity will be built.


Forecast

Frost & Sullivan: 90 GW of solar to be added in FY 2018

Business consultants Frost & Sullivan published their market outlook for renewables, which confirmed some current trends. They project a full year 2018 installation figure of 90 GW of solar PV capacity. Total renewables additions will number 154.6 GW, coupled with $228.3 billion USD of investments. The report further notes that markets are increasingly moving away from feed-in tariffs, in favor of auction schemes and private PPAs.


Neoen goes to market

Neoen launches IPO; plans to raise €640m

French renewables developer Neoen launched their initial public offering (IPO), which will run from 4 to 15 October. The company, which has existed since 2008 and has invested more than €1 billion in renewable energy assets aims to raise about €640 million ($734.34 million USD).


Soft and hard promises

SoftBank proposed to offer free power to ISA member countries

The Japanese group proposed to offer free power to International Solar Alliance (ISA) member countries, following the expiration of the 25-year power purchase agreements associated with the renewable energy projects.

Saudi Fund denies mega solar ambtions are on hold

Following reports from the SoftBank side (who reportedly claimed that the project was put on hold) of the solar partnership that boasted plans of 200 GW of solar capacity, a representative from Saudi Arabia's sovereign wealth fund said the kingdom is still moving ahead with its renewable energy strategy. The question still remains how large those ambitions and plans will be and whether they'll match the $200 billion / 200 GW numbers that were published early this year.


Island Hopping

Japan for the first time transfers excess renewable energy between islands

Following a major shakeup of the power sector, which opened up the energy market for competition, for the first time excess renewable power was transferred from the island of Kyushu to the main island of Honshu. Kyushu Electric Power Co transferred more than 1 GW to five other utilities, after approval from the grid monitor 'OCCTO'.


Turkey Tender

Turkey launches 1 GW PV tender with $0.065/kWh roof

The Turkish government will host three separate tenders for large-scale solar deployment worth 1 GW. Conditions: 60% local module sourcing and a maximum bidding price of $0.065 USD / kWh.


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