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Week Review 15-19 August - European Bank provides $26m loan to Kazakhstan's solar; returns up to 18% for Indonesian solar

19 Aug. 2016 by Riccardo Maistrello, Solarplaza


European Bank to provide $26m loan to Kazakhstan's PV

The European Bank for Reconstruciton and Development plans to provide a $26m loan to Indian developer ACME for the development of a 29MW solar PV plant in Kazakhstan, which is estimated to require a $51m investment in total.

UK Government says PV will be cheaper than nuclear by 2025

An unpublished report the UK government shows that, throughout its lifetime, the Hinkley plant is likely to cost British taxpayers close to £30 billion in subsidies; a hard sell towards a solar sector that has been repeatedly told by the government to "stand on its own two feet" and was faced with severe cuts to support schemes.

Volkswagen seeks cooperation with SMA Solar

According to sources at VW, the carmaker is in talks with SMA Solar to speed up their electric vehicle strategy and catch up with more established players in the field. SMA is already working in partership with both Daimler and Tesla on storage technology. 

Chilean energy prices expected to drop following auction

An unexpected amount of bids, at unexpectedly low rates, at a major energy auction are set to significanly impact the Chilean energy market. Energy Minister Pacheco said the current offers will ensure that energy prices in Chile will fall below $60 / MWh (less than half than it was 2,5 years ago). 

BNEF sees returns as high as 18% for solar in Indonesia

Indonesia’s first ever FiTs for solar should generate attractive project returns in Java-Bali and Sumatra. BNEF expects rates of returns in these two regions, which both have better grid infrastructure and potential project sites than other regions, of around 14-18.8%.

SolarCity cuts operating costs (including CEO pay)

The American solar installer announced restructuring plans, which included the cutting of operation costs, to bring expenses in line with the reduced solar installation outlook. As a symbollic gesture, both Lyndon and Peter Rive (the company's CEO & CTO) voluntarily had their salaries cut back from $275.000 to $1.

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