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Macquarie Infrastructure Debt Investment Solutions (“MIDIS”), on behalf of its European and Asian insurance company clients, today announced a new transaction in the Spanish renewables sector, with a 38 M€ debt investment in a portfolio of solar farms.

The portfolio is owned and managed by Q-Energy, a leading European investor and asset manager in the renewable energy sector. Comprised of six operational PV plants in south-eastern Spain, the portfolio totals 13.6MWp in installed capacity. MIDIS refinanced the portfolio’s existing debt with 21-year, amortising, floating rate, senior secured bonds, and structured an orphan interest rate swap facility to support the transaction, provided by Goldman Sachs International.

MIDIS continues to explore opportunities in the Spanish renewables market, seeking to match long-dated liabilities with investments that generate stable, long-term cash flows. In the last twelve months, MIDIS has deployed over 150 M€ into the Spanish solar sector to help meet the evolving demand through a combination of separately managed accounts and its Macquarie Global Infrastructure Debt Fund strategy.

MIDIS and Q-Energy completed the transaction on a bilateral basis, with Banco Sabadell and Santander acting as arrangers. Goldman Sachs International provided the interest rate hedging to the issuer.

Since 2012, MIDIS has invested 2.100 M€ of infrastructure debt across more than 30 renewable energy projects with total installed capacity of approximately 6.8GW.

Source: Macquarie

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ArcelorMittal Exosun, enterprise supplier of advanced solar tracking solutions for ground-mounted photovoltaic plants has successfully commissioned its trackers on Beryl Solar Plant located in New South Wales (NSW), Australia.

The 110.9MWp solar plant, built by Downer EDI Limited, is equipped with 8,607 Exotrack® HZ structures. Commissioning took place just 12 months after the contract was signed.
ArcelorMittal Exosun LCOE-friendly tracking technology significantly increases the plant’s energy yield and thereby contributes to providing clean and safe electricity to Australian households & public transportation. The majority of renewable electricity produced by Beryl is being used to meet the operational electricity needs of the Sydney Metro Northwest rail link.

Downer’s Executive General Manager for Renewables and Power Systems, Lena Parker said: “The project has been successful due to the collaborative efforts of all of our partners including ArcelorMittal Exosun.”

ArcelorMittal Exosun confirms it will be a major actor in the Australian solar market.

“Through this additional project in the country, our company consolidates its position in Australia’s fast-paced solar market” commented Antoine Gastineau, ArcelorMittal Exosun Business Development Director.

Source: ArcelorMittal Exosun

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Powertis, developer of large-scale PV projects in Europe and Latin America, will develop 2 GW of solar PV over the next three years between Brazil and Spain, 1 GW per country. Headquartered in Madrid and less than a year old, Powertis has secured power purchase agreements (PPAs) for 1 GW in Brazil. In addition, Powertis is entering into the Spanish market where offers turnkey services ranging from feasibility study to project financing.

“In less than 15 seconds, enough energy from the sun reaches the Earth to keep the world running using clean energy. For this reason, we are convinced that the future will be solar. At Powertis, we focus on large projects that use the latest technology, minimizes the cost of solar, and let us negotiate sophisticated bilateral contracts, with the ultimate goal of offering a guaranteed and sustainable return to our investors,” says Pablo Otín, CEO of Powertis.

The construction of the first projects in Brazil will start in the first quarter of 2020 and the entire portfolio, which exceeds 1 GW, will be connected to the grid before December 2021. “Our main goal is to establish Powertis as the leading company in the bilateral market in Brazil”, states Otín. He also adds that this country, together with Spain, are two of the most active regions in the global PV market in bilateral PPAs. “We are taking advantage of these opportunities to showcase our team’s unique knowledge when it comes to contract and finance this type of projects.”

Source: Powertis

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Antonio Rodríguez Osuna, Mayor of Merida, and Luis Cid, OPDEnergy’s CEO, presented the details surrounding the PV plant denominated “La Fernandina”, whose construction shall start in the next few weeks in the municipality of Merida.

The PV plant will occupy an area of 100 hectares nearby the motorway of Alange and achieve a total power capacity of 50 MWp. The construction of La Fernandina will last for 9 months and require a total investment of 30 M€.

When in operation and connected to the grid at the end of 2019, La Fernandina will produce enough renewable energy to supply the equivalent of 26,000 households with electricity. According to parameters estimated and released by the Spanish Office for Climate Change (Oficina Española de Cambio Climático – OECC), such production will contribute to avoid the annual emission of 40,000 tons of CO2 into the atmosphere.

During the press conference from the city hall of Merida, the Mayor Antonio Rodríguez Osuna thanked the company for having chosen Mérida “for such important project that supposes a large investment and creation of employment, in addition the activity will generate an important economic return for the city in the future”.

Luis Cid Suárez, the CEO of OPDEnergy, which is specialized developing renewable energy assets in all stages (development, financing, construction and operation & maintenance), has publicly acknowledged the commitment deployed by the local authorities towards the production of renewable energy, “a commitment that made possible the project we are proud to present today”.

According to Cid, the construction of the plant will result in the creation of 200 new jobs at its peak. In addition, during the construction phase, the company will subcontract supporting services from local companies and the local community. In the Spanish Autonomous Community of Extremadura, OPDEnergy developed and built 8 solar photovoltaic plants with a total capacity of 32 MWp throughout its 13 years of activities.

Moreover, the company has projects to develop and invest in 4 new renewable assets in the region, amounting to over 500 MWp of capacity.

300 MWp in Spain in 2019

La Fernandina is one of the seven solar PV assets that OPDEnergy foresees to construct in 2019 in Spain. In total, these assets shall achieve a total capacity of 300 MWp. Therefore, besides the project presented in Merida, the international power company will bring to life 100 MWp in Andalusia – a 50 MWp plant in Puerto Real, Cadiz, and another 50 MWp plant in Alcalá de Guadaira, Sevilla –and 148 MWp in Aragon – through four assets amounting to 61 MWp in Zaragoza and 87 MWp in Teruel.

Outside Spain, the company will develop and construct a substantial amount of renewable energy projects across Mexico, Chile and the US, achieving the construction of a total of 500 MWp by the end of the year. Finally, and in line with its strategic focused on portfolio diversification, the company has under its pipeline the development of 5,000 MW (5 GW).

Source: OPDEnergy

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Trina Solar has announced that it will provide 190 MW of its integrated PV solution, TrinaPro, to Cobra for a large solar plant in Spain. ACS Group and its subsidiary Cobra, specialized in turnkey energetic infrastructures, are building this EPC project in Alcázar, Ciudad Real province (Spain), with a total power capacity of 190 MW. The project is expected to be completed by the end of 2019, and is set to become the first of many TrinaPro projects in Europe.

Trina Solar will supply its integrated TrinaPro PV solution consisting of 560,000 units of TSM-PE14H multicrystalline half-cut cell modules, as well as the corresponding 6,206 single-axis tracker units. The high efficiency modules will be mounted on Trina Solar’s single-axis tracking system which allows the modules to follow the sun at optimum angles, thus receiving maximum sunlight and generating up to 25% additional power in stable conditions.

TrinaPro is the first PV solution with an optimized combination of Trina Solar’s industry-leading solar modules and state-of-the-art solar tracker systems. As a value-added solution, TrinaPro is optimally engineered with premium components and system integration. TrinaPro can boost system power output by up to 30%.

This new sales agreement for the supply of 190 MW follows the recent order of 167 MW for a project which is under development in Murcia, Spain.

Source: Trina Solar

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Acciona and Tuto Energy (Biofields Group), owners of the Puerto Libertad photovoltaic complex in Sonora (Mexico) with a 50% stake each, have signed a financing agreement for the 404-MWp plant with four banks –North American Development Bank (NADB), Banco Nacional de Obras y Servicios of Mexico (BANOBRAS), Instituto de Crédito Oficial of Spain (ICO) and Banco Sabadell– for up to US$264 million (€226 million at current exchange rates). The project finance is being underwritten on an equal basis by the four entities, with a repayment term of 18 years.

Construction work on the complex, one of the biggest in Latin America, began in February this year and it is expected to be fully operational in the first trimester of 2019.

Electricity for three uses

Part of the production from Puerto Libertad (229 MWp) will cover supplies to the Federal Electricity Commission (CFE) amounting to 478.3 GWh of electric power and the corresponding clean energy certificates awarded to the project consortium in the second long-term electricity supply auction held in Mexico.

114 MWp will be used to service a private electricity purchase-and-sale contract, and the remaining 61 MWp will be allocated to marketing energy in the wholesale electricity market.

The Puerto Libertad plant will be equipped with 1,222,800 polycrystalline silicon panels mounted on horizontal tracking structures.

With a total solar capture surface area of 2.4 km2 it will produce 963 GWh of power per year, capable of covering the electricity demand of 583,000 Mexican homes.

Given its renewable origin, this production will avoid the emission of 925,443 tonnes of CO2 to the atmosphere from coal-fired power stations, with a purifying effect on the atmosphere equivalent to more than 46 million trees.

An average of 500 people will work on the construction of the plant, and this figure will rise to 900 at times of peak activity. In the operational phase, the facility will provide stable employment for 38 people.

Source: Acciona

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Soltec supplies solar trackers to project development leader, Cypress Creek Renewables

Soltec, leading manufacturer and supplier of solar tracker equipment and related services, is supplying 28 MW of single-axis solar trackers for a solar plant in the municipal district of Estill, in the US state of South Carolina.

The project is situated in a region with a sub-tropical climate where strong winds are commonplace. To address local weather conditions, Soltec’s R&D team has optimised the control electronics and developed adequate foundation pillars to keep the trackers stable during strong gusts of wind.

“With these improved features, our trackers are ready to achieve optimum production levels even during the hurricane season from June to November. Soltec has often demonstrated that it is the ideal solar tracking solution for projects that present huge challenges, as in this case”, confirms José Alfonso Teruel, head of R&D at Soltec. “Our high-speed motor moves the PV panels from a maximum tilt of 60 degrees to a completely horizontal position in under three minutes for better wind resistance”.

“Soltec has signed a framework supply contract with Cypress Creek Renewables and we are committed to helping them achieve project success so that they become a repeat client for us”, states Raúl Morales, CEO of Soltec. “Our best guarantee is Soltec’s proven ability to comply with project criteria in terms of time frames, costs and quality”.

Founded in 2014, Cypress Creek develops, constructs, finances and operates solar generation assets in the US. Thanks to a combination of organic growth and the acquisition of corporate and strategic projects, Cypress Creek is currently one of the leading solar companies in the country with 1 GW of installations operational in 8 States.

Soltec takes part in ANCES Open Innovation

Soltec is also continuing in its commitment to research. Company representatives attended the closing event of ANCES Open Innovation last 19 April, an initiative from the Spanish National Association of European Business and Innovation Centres. Soltec, together with a further twelve consolidated companies, have developed a pioneering programme to attract young and innovative companies to the market.

The challenge proposed by Soltec comprised the development of a wireless current sensor with radio communication able to measure a constant current of up to 100 A. The finalists chosen by Soltec were start-ups: Byprox from Murcia; Wireless Innovation from Valencia; and Alteria Automation from Madrid, the eventual winner.

Apart from Soltec, other companies that also submitted challenges included BBVA, Estrella de Levante, Euskaltel, Iberostar and Sacyr.

Soltec’s global operations and a workforce of over 750 people bring together experience and innovation. Soltec has manufacturing centres in Brazil, China and Spain; and offices in Argentina, Australia, Denmark, Chile, Egypt, the US, India, Israel, Italy, Mexico and Peru. With a firm commitment to renewable energies and the environment, Soltec supports product standardisation and the success of its clients.

Source: Soltec

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Soltec, a leading manufacturer and supplier of single-axis solar trackers and related services in large-scale projects, will supply its tracker equipment to a 70 MW solar PV power plant in Australia.

Soltec is executing its plan to invest in growing markets and expand supply capacity globally, including this strategic move into Australia. With the establishment of this office in Sydney’s Barangaroo business district last November, Soltec Australia Pty Ltd rejoins APAC regional activity with the Soltec team in New Delhi, India.

Soltec’s customer Biosar, a historically established and expanding international solar EPC company, procured 2,296 units of Soltec’s SF7 seventh generation horizontal single-axis solar tracker. SF7 enables higher yield performance than others with complete tracker module-fill and greater site-fill options among other yield gain features.

“Our standard tracker features reduce material and installation time compared to others. SF7 has fewer piles-per-MW, a lower parts count, fewer installation operations, greater tolerance of construction variables, and less civil work among other advantages. The combined result of higher yield performance and robust design is what customers rely on when choosing us,” said CEO of Soltec Raúl Morales.

Source: Soltec

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Enel, through its Peruvian renewable energy subsidiary Enel Green Power Peru (EGPP), has started operations at the 180 MWdc Rubi solar PV plant, which is Peru’s largest solar plant and Enel’s first solar facility in the country. To celebrate this milestone, an inauguration ceremony was held on site which saw the participation of Peru’s Minister of Energy and Mines Angela Grossheim Barrientos, as well as Antonio Cammisecra, Head of Enel’s Global Renewable Energies Division Enel Green Power, Luca D´Agnese, Enel’s Head of South America, and Carlos Temboury, Enel’s Country Manager for Peru.

Enel invested around 170 million US dollars in the construction of Rubi, as part of the investments outlined in the company’s current strategic plan. The project, which is located in the city of Moquegua in Peru’s Mariscal Nieto province, is financed in part through Enel Group’s own resources and in part by the European Investment Bank. The facility is supported by a 20-year PPA signed with Peru’s Ministry of Energy and Mines. Once fully operational, Rubi will be able to generate around 440 GWh per year, which will be delivered to Peru’s National Interconnected Electricity System (SEIN) through the Montalvo substation.

Enel was awarded the PPA supporting the project in 2016 following the public renewable energy tender launched by the energy regulator OSINERGMIN. Upon completion of the other two projects awarded in the tender alongside Rubi, which are the 132 MW Wayra I wind farm and the 20 MW Ayanunga hydro facility, EGPP will become Peru’s main renewable energy player, as well as the only company in the country operating plants with three different renewables technologies.

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Fotowatio Renewable Ventures (FRV), has reached financial close for the 342 MW dc Potosí Solar Farm in Mexico.

FRV has closed the financing agreement with KFW (Kreditanstalt für Wiederaufbau), Bancomext and ING. The project, which will be first to be operated by FRV in the country, was awarded in the second auction held by the National Center for Energy Control (CENACE) in September 2016 and was followed by the Power Purchase Agreement (PPA) with CFE Suministro Basico in March 2017.

Located near a major network infrastructure – 60km northeast of the city of Zacatecas in the State of San Luis de Potosí – Potosí Solar Farm will be connected to the national electricity grid, generating enough energy to power around 150,000 households. At the same time, it will reduce greenhouse gas emissions by approximately 600,000 tons of CO2 per year.

Construction of the plant, which will be carried out by TSK under an EPC contract, will have an extension of approximately 800 hectares, and will begin construction operations in early 2018. It is expected to be operational by early 2019, contributing to the economic development of the area – potentially 300 jobs will be created during the construction phase of the plant and once operational approximately 17 of those jobs will potentially be maintained.

Rafael Benjumea, Chief Executive Officer of FRV, said: “Mexico has enormous renewables potential. That is why we are committed to bringing clean energy and job creation in the country. This particular project will contribute to socio-economic development and allow us to continue leading international trends in the production of clean, competitive and sustainable energy.”

“The tenders run by CENACE for long term PPA’s with CFE Suministro Basico have proven to be a very successful mechanism to contract the energy produced by the renewable energy plants. This is decreasing Mexico´s CO2 footprint, helping to reach the country’s goal of 35% of the energy generated by renewable energy in 2024, and achieving record prices which will have a positive impact in the Mexican electricity prices” Rafael added.

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