Valoe chief insists €3.5m fundraising is just one of finance options
The chief executive of the Finnish manufacturer – which this month missed another deadline to complete payment for the Lithuanian cell factory it acquired from Solitek – has insisted the €3.5 million convertible bond issue which was today extended by three months will not determine the fate of his company.
Valoe’s Lithuanian gamble rides on latest fundraising attempt
The Finnish solar manufacturer must raise €3.5 million from a convertible bond issued on Monday and which closes on December 18. Generate the cash and production is expected to start at the Solitek facility in Vilnius early next year. Fail, and (almost) all bets are off.
Lithuanian energy ministry issues timeline for renewables auctions
The Baltic nation is heavily dependent on energy imports. A plan for energy independence by 2050 foresees the large scale deployment of renewable energy resources.
Rooftop PV has reached grid parity in main EU markets
Researchers have developed a high-resolution geospatial method of assessing the solar potential of all buildings in the EU and concluded rooftop PV could provide a quarter of the bloc’s electricity needs. The scientists say grid parity for rooftop solar has been reached outside eastern member states with cheap fossil fuel electricity.
Lithuania announces first renewables auction and €4.5 million in solar rebates this year
The first mixed auction for renewable energy technologies will be held in September and will allocate around 300 GWh. The government will apportion €20 million for solar rebates up to 2023.
EU approves Lithuania’s auction plan for renewables
The procurement scheme has a budget of €385 million and is open to all renewable energies. Auctions will be held by the country’s National Commission for Energy Control and Prices.
EU call for energy infrastructure proposals backed by €750m of funding
Under its Connecting Europe Facility (CEF), the bloc has opened another call for applications to build cross-border energy infrastructure projects. It has already agreed to provide a grant of €323 million to synchronize the regional grid in the Baltic States.
Floating solar reaches new territories
In Cambodia, Singapore’s Cleantech is building a 10 MW solar plant including a 2.7 MW floating section, and in Lithuania, state-owned utility Lietuvos Energija is deploying a floating plant at the Kruonis pumped storage hydroelectric power plant.
Valoe and Solitek join forces to produce IBC cells in Lithuania
The Finnish PV equipment provider and the Lithuanian PV panel maker will manufacture IBC solar cells at Solitek’s factory in Vilnius with an initial production capacity of 60 MW.
Baltic’s largest PV rooftop inaugurated
The region’s largest rooftop solar system has been mounted on a plastics factory in Lithuania. The 1.4 MW site’s inauguration was attended by 100 high-level guests from the nation’s business community.
