Vietnam’s huge solar park could reach 2.8 GW within a year – pv magazine International
A report on investments in energy transition released this week also revealed that the former world record price for solar energy announced by the Al Dhafra project in Abu Dhabi last year has since fallen further.
A report on the global flow of capital in energy transition found that Vietnam’s largest solar park, the Xuan Thien Ea Sup project in Dak Lak, is expected to expand to 2.8 GW of generation capacity “by beginning of 2022 ”.
the Global Investors Go Into Renewable Infrastructure A report released Monday by the Cleveland-based think tank, the Institute for Energy Economics and Financial Analysis (IEEFA), revealed the expansion plans outlined for the 831 MW project, as announced by developer Xuan Thien Group.
Chinese panel supplier Longi Solar announced that the first 273 MW phase of the VND 20 trillion ($ 869 million) project was completed five months ahead of schedule in November, after construction began in April. from last year.
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Dak Lak’s mega project overview was included in a report that highlighted ten 2020 ‘globally significant’ renewable energy infrastructure projects as well as a review of the top ten performing commercial banks that have loaned to energy transition projects and a select group of 25 equity investors who IEEFA feels are paving the way for clean energy commitments.
The 2020 Renewable Energy Projects section also revealed that the world record low solar power price of $ 0.0135 / kWh produced by the Al Dhafra 2GW solar project near Abu Dhabi, announced in July of last year, fell further thereafter, thanks to cheap financing fees and currency hedging, to $ 0.0132 / kWh. Al Dhafra’s initial tariff was lower than the agreed $ 0.0104 / kWh for the 600 MW Al Shuaiba project in Saudi Arabia, announced in April.
The 900 MW and $ 400 million Phalodi-Pokhran project planned by the developer SB Energy belonging to the Indian conglomerate Adani Group in Rajasthan was also rated by the IEEFA, as well as the 26 GW Asian Renewable Energy Hub project in Pilbara, in Australia, which has reached environmental permitting issues; LS Power’s 25 MW / 25 MWh Gateway energy storage project in San Diego County; and the planned 3.6 GW pumped water storage facility in Hubei Province, China, which would supplant the 3 GW / 24 GWh facility in Bath County, Virginia, USA, in as the largest asset of its kind in the world.
While reporting a 9% increase in investments in energy transition last year, to $ 501 billion, according to data provided by analyst BloombergNEF, the IEEFA study indicated that the share of capacity renewable energy production of this total, at $ 303 billion, had only increased by 2% compared to 2019., while investments in other areas such as electric mobility, green hydrogen, energy storage and heat pumps have accelerated. Solar represented 147 billion dollars of support for the energy transition recorded by the study for 2020.
The document says that all of the $ 9 billion in debt and equity investments in energy transition projects in Brazil last year went to renewable energy production capacity, which also accounted for the expense. major developments observed in China (which attracted $ 135 billion in energy transition debt and equity investments). , the United States ($ 85 billion), Japan ($ 27 billion), the United Kingdom ($ 26 billion), the Netherlands ($ 19 billion) and Spain ($ 13 billion) dollars). In Germany (which attracted a total of $ 29 billion in debt and equity for the energy transition), France ($ 20 billion) and Norway ($ 9 billion), however, investments in mobility electricity and charging infrastructure – including purchases of electric vehicles – accounted for a larger share. than the capacity of renewable energies. The report also noted a 20% annual decline in such funding commitments in the United States, to $ 49 billion.
Sumitomo Mitsui Banking Corp led IEEFA’s ranking of energy transition commercial banks based on the BloombergNEF Clean Energy League Table 2020, offering approximately $ 4.25 billion in such funding in 2020, and was one of three institutions. Japanese among the best elsewhere in Europe. 10, with notable American lenders for their absence.
With French lender Crédit Agricole Group ninth on this list, having loaned around $ 1.89 billion, another member of the group, the entity Amundi Asset Management, was among the equity investors selectively selected for praise in the IEEFA report.
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