Photovoltaic Solar Power

Home>Topics>Photovoltaic Solar Power
Refine Results
  1. All
  2. Online Articles
  1. OST Energy supports first floating solar power financing deal

    OST Energy (OST), a leading independent engineering consultancy, has announced its work with UK bank, the Royal Bank of Scotland (RBS), and Europe’s leading solar energy company, Lightsource Renewable Energy , to bring Europe’s largest floating photovoltaic (PV) s olar power project to financial close earlier this year. The 6.3 Megawatt peak (MWp) array now provides a source of clean energy to water utilities company, Thames Water , on the Queen Elizabeth II reservoir west of London, and has become the first floating solar project to secure European bank financing. Thames Water will buy all energy generated by the project as part of a Power Purchase Agreement (PPA) with Lightsource. Throughout the early stages of project planning prior to construction, OST Energy acted as technical advisor to lender RBS, providing a range of due diligence services crucial to the final investment decision. As floating solar moves from concept to large-scale development, the involvement of a major European bank in the financing of the project is a significant milestone for the industry and a recognition of the considerable commercial advantages afforded by the technology. High-energy users such as Thames Water, in particular, are set to benefit from the rollout of floating solar on existing water storage facilities to directly support nearby industrial applications, meet sustainability targets and reduce on-site energy costs. However, the commercialisation of any new technology carries additional financial risk for investors, and a thorough assessment of all technical, regulatory and financial considerations involved in the construction and long-term operation of a large-scale site is an essential step ahead of investment. Backed by RBS, solar experts Lightsource managed the technically demanding Queen Elizabeth II project, which saw the installation of more than 23,000 PV panels mounted on 61,720 individual floats, and the company will continue to operate and maintain the site for the lifetime of the project. In order to minimise associated risks, OST Energy was engaged early in the project lifecycle to carry out an in-depth assessment of long-term energy yields, technology choices and EPC and O&M contracts, alongside a review of technical inputs to the financial model and planning and grid connection arrangements. In doing so, OST’s specialist team of technical and engineering advisors was able to demonstrate the long-term commercial viability of the project ahead of the multi-million pound investment. “Floating solar is a really exciting new technology, not just for markets with scarce land availability such as Japan, but also throughout Europe, where it can provide significant benefits for energy-intensive industrial and utility users,” said Simon Turner, Director, OST Energy. “This first project finance deal illustrates that the technology now has considerable backing from the banking sector, and the visible success of early projects will ultimately contribute to cost reductions that will only enhance the appeal of floating solar to developers, independent power producers and investors.” Nick Boyle, CEO at Lightsource, said: “Over the last five years we’ve successfully completed solar installations of all shapes and sizes and the floating solar project presented a new set of challenges to overcome. Our continuing industry success relies on strong relationships with key financial institutions like RBS. Working with OST Energy has allowed us to build even further on the trust and support we have developed with these organisations.” OST Energy has worked on over 1,000 renewable energy projects across the globe and has a history of supporting the development of innovative new technologies in the solar sector, having provided technical advisory services for a number of early off-grid solar-plus-storage systems worldwide and supported the integration of wind and solar hybrid connections at utility scale.

    Online Articles

    Online Articles

    Tue, 9 Aug 2016

  2. Enel building 150 MW photovoltaic solar power project in Minnesota

    $290 million project is Rome-based company's largest in North America

    Online Articles

    Online Articles

    Thu, 5 May 2016

  3. SunPower to start building 10 MW solar array at U.S. Army post in Alabama

    SunPower is delivering the energy from the plant under a power purchase agreement 

    Online Articles

    Online Articles

    Fri, 3 Jun 2016

  4. Isolux Corsan builds, commissions largest PV solar power plants in the UK to date

    Isolux Corsan has successfully finished building and commissioning three photovoltaic solar power plants that are currently considered to be the largest in the United Kingdom, with a total installed capacity of 15MW.

    Online Articles

    Online Articles

    Wed, 21 Sep 2011

  1. Turlock Irrigation District buys solar power from SunPower

    Online Articles

    Online Articles

    Wed, 11 Nov 2015

  2. Mumbai PV success edges Asian Bank closer to solar target

    Indias largest photovoltaic solar power plant has started generating electricity to thousands of households and businesses in Mumbai.

    Online Articles

    Online Articles

    Tue, 1 May 2012

  3. Yingli connects 50 MW solar power plant to the power grid in China

      Solar power manufacturer Yingli Green Energy Holding Co. connected its 50 MW photovoltaic solar power plant, located in Hebei Province, China, to the utility power grid  

    Online Articles

    Online Articles

    Mon, 15 Jun 2015

  4. Canadian Solar begins construction of 100-MW solar power project in Ontario

    Canadian Solar Solutions Inc., a subsidiary of Canadian Solar Inc., has started construction of the 100-MW Grand Renewable Solar Project in southern Ontario.

    Online Articles

    Online Articles

    Wed, 16 Oct 2013

  5. First Solar signs power purchase agreements solar power project

    The cities of Pasadena, Riverside, Colton and Azusa signed 20-year power purchase agreements that will supply power from the solar plant to the cities’ municipal power utilities

    Online Articles

    Online Articles

    Tue, 12 Nov 2013

  6. 2 universities in DC make deal to buy solar power

    Two universities in the nation's capital have agreed to a major energy deal to buy more than half their power from three new solar power farms that will be built in North Carolina, the schools announced Monday night.

    Online Articles

    Online Articles

    Tue, 24 Jun 2014

  7. DOE offers loan to Cape Wind offshore wind power project

    If constructed, the project would have a capacity of more than 360 MW of clean energy off the coast of Cape Cod, Massachusetts.

    Online Articles

    Online Articles

    Tue, 1 Jul 2014

  8. Areva and Schneider Electric in hydrogen fuel cell pact

    French engineering companies Areva and Schneider Electric have signed a strategic partnership agreement to develop energy management and storage solutions based on hydrogen fuel cell technology.

    Online Articles

    Online Articles

    Thu, 6 Feb 2014

Get More Results