Siemens backs Northvolt’s Swedish battery factory plan with €10m
The German group has joined the project as a technology partner, and brings €10 million. Siemens will conduct digitalization of the value chain for Northvolt production and will be supplied with the factory’s products
Ireland offers funding for European collaboration on renewables
The Sustainable Energy Authority of Ireland (SEAI) has announced a €500,000 fund of Irish government and European Commission cash to promote sustainable energy technology development
European Commission unveils sustainable financing roadmap
An estimated €100 billion in additional investment is needed, annually, to reach Europe’s 2030 energy goals, states the European Commission, which has today released a roadmap to create a financial system that is focused on sustainable investment.
Northvolt battery project approved for EIB loan that could reach €52.5m
The Swedish storage developer will receive the loan funds via the European Commission’s InnovFin fund, which is part of the Energy Demo Projects facility.
EU approves capacity mechanisms for Belgium, France, Germany, Greece, Italy and Poland
The European Commission stated that capacity mechanisms in these five electricity markets are in line with EU state aid rules, and that all of the mechanisms are “well-designed”. SolarPower Europe says further supporting most polluting power generation forms through capacity mechanism simply does not make sense anymore.
EU Parliament votes in favor of 2030 binding renewable energy target of 35%
The European Parliament has approved a proposal to raise the target submitted by its Committee on Industry, Research and Energy (ITRE) in late November.
Poland: RE support scheme approved, financing for 55 MW PV projects secured
A PLN 40 billion (around €9.4 billion) Polish support scheme for renewable energy has been approved by the European Commission. Meanwhile, Guernsey-based Sequoia Economic Infrastructure Income Fund has agreed to provide financing for ReneSola’s 55 plants in Poland, each with a capacity of 1 MW.
New EU anti-dumping rules signed off
The new legal framework for anti-dumping, designed to protect the EU against unfair trade practices, has been signed. It will come into force on December 20.
EBRD earmarks $22 million for 50 MW Jordan PV plant, $100 million for green bonds
The European Bank for Reconstruction and Development is providing a US$22 million shot in the arm for a 50 MW solar power plant in the Risha region developed by Saudi ACWA Power. The bank has also announced plans to invest up to $100 million to back development of the green bond markets, and pledged its support to city climate projects allocating over $500 million with an eye to scaling up green urban financing.
EU launches battery alliance
“Airbus for batteries”-style alliance announced this week in Brussels aims to expedite European battery cell manufacturing and strengthen continent’s storage value chain in face of Asian and U.S. competition.
