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EDF Energies Nouvelles

800 Megawatts Solar Project In Dubai Achieves Financial Closure

written by saurabh

The third phase of Mohammed bin Rashid Al Maktoum Solar Park in Dubai has achieved financial closure marking a major milestone for one of the largest solar power projects and solar power parks in the world.

Construction at the 800 megawatt project being developed by the Masdar Group and EDF Energies Nouvelles began in January 2017 and is expected to be operational in 2020. Debt funding for the project came from seven different financial institutions, including the Islamic Development Bank and the Arab Petroleum Investments Corporation, Korea Development Bank and Export Development Canada.

The presence of these funding institutions points towards very low interest rate. A low interest rate is exactly what the project developers require as it is also among the cheapest solar power projects in the world.

The phase III tender set a record for lowest-ever solar PV tariff globally at that time. The Masdar-led consortium beat the phase II winning bid of 5.84¢/kWh with a bid of 2.99¢/kWh. Masdar Group and DEWA signed the power purchase agreement for the project in November 2016.

Recently, Canadian Solar shipped 268 megawatts of solar modules for the project. The Mohammed bin Rashid Al Maktoum Solar Park has an operational capacity of 213 megawatts from the first two phases commissioned by First Solar and ACWA Power.

The solar power park will be the mainstay of Dubai’s clean energy policy.

The Mohammed bin Rashid Al Maktoum Solar Park will have an eventual capacity of 5 gigawatts. The initial planned capacity was 1 gigawatt which was subsequently increased to 3 gigawatts, and now 5 gigawatts. Bids of the first 1 gigawatt of capacity have already been awarded.

06/18/2017 0 comment

Renewable Energy

EDF Joins Masdar For 800 Megawatts Dubai Solar Project

written by saurabh

EDF Energies Nouvelles will work with Masdar Group on the 800 megawatt phase 3 of the Mohammed bin Rashid Al Maktoum Solar Park in the United Arab Emirates.

Masdar Group, Fotowatio Renewable Ventures and Gransolar Group have been joined by EDF Energies Nouvelles just weeks after construction on the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai began.

The Masdar Group–led consortium was confirmed as the winner of the 800 MW solar power tender that was floated by the Dubai Electricity and Water Authority (DEWA) last year. The phase III tender set a record for lowest-ever solar PV tariff globally at that time. The Masdar-led consortium beat the phase II winning bid of 5.84¢/kWh with a bid of 2.99¢/kWh. Masdar Group and DEWA signed the power purchase agreement for the project in November 2016.

Phase two of the solar power park with 200 megawatts capacity has already been commissioned. Tender for 200 megawatts phase four of the solar park will be opened in June this year; this phase will be based on concentrated solar power technology.

The Mohammed bin Rashid Al Maktoum Solar Park will have an eventual capacity of 5 gigawatts. The initial planned capacity was 1 gigawatt which was subsequently increased to 3 gigawatts, and now 5 gigawatts. Bids of the first 1 gigawatt of capacity have already been awarded.

03/28/2017 0 comment

Articles Renewable Energy

Canadian Solar & EDF Energies Nouvelles Begin 191.5 MW Solar Farm In Brazil

written by Joshua Hill

Canadian Solar and EDF Energies Nouvelles have begun construction of the 191.5 MWp Pirapora I solar energy project in Brazil.

Canadian Solar, which is one of the world’s leading solar power companies, and EDF Energies Nouvelles, a global renewable energy leader, announced on Tuesday the sale of 80% interest in the project from Canadian Solar to EDF Energies Nouvelles’ local subsidiary, EDF EN do Brasil.

Located in the state of Minas Gerais in Brazil, Pirapora I will be supplied with solar modules from Canadian Solar, and is expected to reach construction completion in the third quarter of 2017. The project was awarded a 20-year Power Purchase Agreement in the second Reserve Energy Auction in 2015, and upon completion is expected to generate 391,263 MWh per year.

“The investment by EDF Energies Nouvelles in Canadian Solar’s Pirapora I project is a demonstration of the strong potential of the solar energy market in Brazil,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “Pirapora I is one of Canadian Solar’s three current projects in the country totaling 394 MWp with awarded long-term PPAs. We plan to grow our project portfolio and support the domestic solar market with our 360 MWp module manufacturing plant. We are glad to partner with a strategic investor such as EDF EN in the implementation of our first project in Brazil.”

“With this Pirapora major new solar project in partnership with a specialised company such as Canadian Solar, two wind projects currently under construction by EDF Energies Nouvelles, and having in mind the hydraulic project — Sinop — the EDF group is involved in, all this confirms a strong ambition to strengthen and diversify the Edf Group renewables assets portfolio in Brazil,” added Antoine Cahuzac, Senior Executive Vice President in Renewable Energies of EDF and Chief Executive Officer of EDF Energies Nouvelles.

10/12/2016 0 comment

Renewable Energy

EDF Plans To Set Up 2 GW Renewable Energy Capacity In India

written by saurabh

EDF Energies Nouvelles has announced that it sees India as a major renewable energy market for its further expansion.

Talking to an Indian daily, EDF Energies Nouvelles Chief Executive Antoine Cahuzac stated that his company aims to invest US$2 billion in the rapidly growing renewable energy market of India. Cahuzac explained that India matches EDF’s criteria for long-term and aggressive investment.

Tremendous scope for electricity demand remains in India. Additionally, renewable energy capacity still forms a small minority of India’s installed power base and thus large scope of expansion in the solar and wind energy sector remains. India is also blessed with significant solar and wind energy resources. Thus, India is an apt destination for investment by EDF, Cahuzac added.

EDF also stated that it would most likely invest in India as part of a joint venture. Cahuzac stated that several project developers in India have paced very aggressive bids for solar power projects over the last few months. These developers may be bidding keeping in mind the sharp fall in solar module prices and improvement in module efficiency. However, the government must also make sure that these project developers deliver on their projects despite these aggressive bids.

Several foreign investors have been attracted to the Indian renewable energy market due to attractive regulatory and financial environment. India has set a target to have an installed renewable energy capacity of 175 GW by March 2022, including 100 GW solar power and 75 GW wind energy capacity.

09/26/2016 0 comment

Articles Renewable Energy

EDF Energies Commissions Israel’s Largest Solar Power Plant

written by saurabh

EDF Energies Nouvelles has commissioned yet another solar PV project in Israel which is the largest solar power project in the country.

According to recent media reports, EDF Energies Nouvelles has commissioned 50.1 MW solar PV power project in Israel. The project is the country’s largest solar power project and adds to another similar project commissioned last year. With the implementation of this project the total operational solar power capacity in Israel owned by EDF Enegies has increased to 160 MW, from 11 projects.

The project is located in Negev desert over an area of 60 hectares and comprises of around 200,000 solar modules supplied by Photowatt. The project is expected to generate enough electricity to meet the annual demand of around 30,000 households.

EDF Energies Nouvelles already operates 40 MW solar power project in the Negev desert which was commissioned in 2015. The project was completed after 7 months of construction at a cost of $79 million.

Some of the largest solar power projects to be commissioned in Israel over the next few years will be located in the Negev Desert. Abengoa announced financial closure for both of those projects with installed capacity of 110 MW capacity. The project is expected to be commissioned in 2017, and is one of the three projects selected under Israel’s Ashalim region 250 MW tender announced in 2008, which is made up of two solar thermal plants and one photovoltaic plant.

The Infrastructure, Energy and Water Resources Ministry of Israel seeks to increase the share of renewable energy in the country’s electricity consumption to 10% by 2020 and 17% by 2030.

05/30/2016 0 comment