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Fotowatio

ACWA Power Consortium Wins 170 MW Solar Power Contract In Morocco At US¢4.6/kWh

written by saurabh

A consortium led by Saudi Arabia’s AWCA Power has secured rights to develop three large-scale solar photovoltaic power projects in Morocco.

ACWA Power-led consortium, which includes China’s Chint and India’s Sterling and Wilson, has won rights to develop 170 MW solar PV capacity in Morocco. This capacity includes 70 MW project in the Ouarzazte solar power park, 80 MW project in Western Sahara’s Laayoune and 20 MW at Boujdour. These projects will form part of Noor PV 1.

ACWA Power consortium was among three which placed bids for developing the projects; the other two companies are also located in the Middle East – Fotowatio, and Alfanar. Initial reports had suggested bids at around US¢6.00/kWh, comparable to AWCA Power’s bid for phase II of the Dubai Solar Power Park.

However, latest reports suggest that ACWA Power won the bid at US¢4.6/kWh.

Moroccan Agency for Solar Energy (Masen) recently enhanced its target to set up 4 GW renewable energy capacity by 2020 to 10 GW by 2030. The Noor-Ouarzazate solar power complex will likely be the backbone of such large-scale expansion.

ACWA Power has already commissioned a 160 MW parabolic trough based concentrated solar power project – the Noor I – and is working on the development of Noor II (also based on parabolic trough reflectors) and Noor III (based on power tower technology).

11/28/2016 0 comment

Renewable Energy

Fotowatio Wins 300 MW Solar In Mexico Auction At US¢2.69/kWh

written by saurabh

Spanish renewable energy project developer Fotowatio Renewable Ventures recently a major win in the competitive auction held in Mexico few weeks back.

Fotowatio Renewable Ventures (FRV) announced that it has been awarded a 300 MW solar power project in the second competitive auction held for renewable energy project in Mexico in September this year.

The company managed to secure the project at one of the lowest levels across the world as the Mexican auction was highly competitive. FRV placed a successful bid of US¢2.699/kWh for the solar power project. The lowest-ever solar power bid for a project remains US¢2.42/kWh by JinkoSolar-Marubeni consortium for 800 MW phase 3 of Dubai solar power park.

The construction of the plant will begin in mid-2018 and will become operational in mid-2019, and will create approximately 250 local jobs as part of the construction phase and a further 20 jobs during operations. The plant will also generate enough green electricity to supply approximately 76,100 homes, while reducing greenhouse gas emissions by approximately 97.7 million tons of carbon dioxide emissions.

According to National Energy Control Center (CENACE) of Mexico, solar dominated the Mexico’s second power auction with more than half of the total amount of energy awarded to solar PV projects. Under the auction, 4.8 TWh of energy (54%) and 4.9 million clean energy certificates (53%) were provisionally awarded to solar PV projects.

In total, 9.3 TWh and 8.9 million clean energy certificates were awarded to solar, wind, geothermal and hydroelectric projects. Wind energy projects constituted 43% of total energy awarded and 41% of clean energy certificates.

10/31/2016 0 comment

Renewable Energy

MMA Renewables Sold – European Firms Jockeying for US Presence

written by Ian Thomson

The Guardian announced in November that “BP had dropped all plans to build wind farms and other renewable schemes in Britain and is instead concentrating the bulk of its $8bn renewables spending program on the US, where government incentives for clean energy projects can provide a convenient tax shelter for oil and gas revenues”. The ARRA (aka Stimulus Package) should hasten that shift of focus.

Similarly, Fotowatio of Spain today announced its bold move: By buying the assets of Baltimore and San Francisco based Solar Developer MMA Renewable Ventures (MMARV), Fotowatio’s global portfolio will include more than 130 megawatts of operating solar projects in the United States. It might not be a name you’ve heard much about… yet. Fotowatio has invested more than US$880 million (€700 million) in solar projects since 2006 and plans to invest up to US$3.2 billion (€2.5 billion) by 2012 in Spain, Italy and the United States.

03/02/2009 0 comment