Filipe de Oliveira Lopes

Public Power Corporation (PPC S.A.) has finalised an agreement to acquire a 629 MW portfolio of renewable energy assets in Romania from EVRYO Group. PPC’s deal with Evryo Group, which is owned by funds managed by Macquarie Asset Management, comprises 629 MW of clean energy projects in operation and 145 MW of projects in the pipeline. The operational assets involve 600 MW of onshore wind, 22 MW of hydro, 1 MW of solar, and 6 MW of battery energy storage assets. The total enterprise value of the deal totals approximately €700 million. “This acquisition represents a significant new step for PPC Group’s overall growth strategy in Southeast Europe,” said Georgios Stassis, Chairman and Chief Executive Officer of PPC Group. “We accelerate the build out of renewables’ generation in Romania by doubling our portfolio of RES in operation, and most significantly with wind and hydro, further diversifying our RES mix, with assets located in the most sought-after regions in Romania, with high wind speeds.” PPC Group is being advised by Citigroup Global Markets Europe AG and Euroxx Securities SA (financial), and Clifford Chance (legal) on the deal. The acquisition is expected to close in Q4 2024, subject to the necessary approvals. As a result of the deal, PPC’s portfolio of operational renewable energy assets in Romania will double and its total clean energy assets online will reach 3.5 GW. “Our regional strategy in renewables targets to power generation across attractive markets, with a diversified technology portfolio,” added Stassis. “Southeast Europe is an increasingly interconnected market, with converging power prices and, thus, value can be created from adjacent synergies in trading, supply and risk diversification.” #cleanenergy

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Negative prices will persist without grid flexibility. Negative prices occur when power output is greater than demand, particularly during midday when green generators including large-scale solar and offshore wind producers compete to dispatch their energy. This happens due to the inflexibility of producers, insufficient price-responsive demand and inadequate energy storage, causing generators to offer negative prices in the wholesale market to manage excess power. Finnish utility Fortum CEO Markus Rauramo told Montel News at the Eurelectric summit in Athens, “What we see in the near-term future is there will be more intermittent capacity and dispatchable capacity will go out”. To read the full news article covered by Alina Trabattoni, please click the link in the comments section. (The image attached is from the 13th April 2024 showing Negative prices in Europe) #energyprices #renewables #energysector #europe #capacity

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Negative prices again across Europe yesterday! What if your car charger knew the cost of energy and could respond? How about your air conditioner? Imagining being paid to charge your car and keep your home extra cool on hot days without any action by you. FlatPeak enables devices to follow your energy tariff, prioritising loss cost, clean electricity. Get in touch to discover how to make your products and services tariff aware across over 30 markets with one simple integration. #electricity #tariff #smarttariff #smartdevice #flatpeak

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Our involvement in the Campillo Wind Cluster project marks a significant milestone in the realm of collaborative contractual practices. Under the expert guidance of Roxana Vornicu, we played a major role in navigating Enel Green Power Espana through the complexities of the FAC-1 framework alliance contract. This project, with its EUR 256 million investment and the creation of 350 local jobs, not only enhances Spain’s renewable energy capacity but also exemplifies the transformative potential of innovative legal frameworks in the construction industry. The success of this project, from early completion to financial savings, underscores the efficacy of collaborative agreements in achieving superior project outcomes. Sirbu and Vornicu Law’s contribution demonstrates our expertise and commitment to pioneering legal practices that drive progress and sustainability. For a detailed account of Sirbu and Vornicu Law’s involvement and insights into the Campillo Wind Cluster project, read the featured article in Lawyer Monthly: https://lnkd.in/ddb9NGxe

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The Gas Transmission System Operators (TSOs) of Finland, Estonia, Latvia, Lithuania, Poland, and Germany's Ontras have successfully completed a pre-feasibility study of the Nordic-Baltic Hydrogen Corridor (NBHC). This significant study, initiated in January 2024, defines the key conditions for implementing the NBHC, aimed at transporting renewable hydrogen between the six countries.  The study provides a comprehensive framework covering the technical, legal, organizational, and economic aspects necessary to realize the hydrogen corridor, which will play a crucial role in achieving the European Union's decarbonization goals with hydrogen produced and further supplied within the EU territory.   The Nordic and Baltic region provides significant renewable hydrogen potential identified within the pre-feasibility study at the amount of approx. 27.1 million tons (Mt) of renewable hydrogen production (based on combined onshore and offshore wind and solar) by 2040. This creates a large hydrogen market creation and export potential towards continental Europe which the NBHC aims to address.  By 2040, the corridor is projected to transport up to 2.7 million tons (Mt) of renewable hydrogen annually between the countries. The pre-feasibility study indicated that the NBHC can be one of the first operational cross-border hydrogen pipelines in Europe. The NBHC pipeline is currently planned to be 48 inches (1,200 mm) in diameter, with several compressor stations and spanning approximately 2,500 km.   You can read more from the press release.

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We are delighted to announce that the approval process for the grid connection (ATR) has been successfully completed for one of the largest renewable energy projects in Romania. This ambitious project is situated in the North-East part of the country and has a total capacity of over 1,117 MW, making a significant contribution to the country's renewable energy infrastructure. 4P Renewables is part of the 50/50 Romanian Joint Venture that is developing the project comprising of: ·        627 MW of Wind Energy: Harnessing the power of the wind, this segment will significantly contribute to our renewable energy mix, providing clean and sustainable electricity. ·        68 MW of Battery Energy Storage Systems (BESS): These advanced storage systems will play a crucial role in ensuring the stability and reliability of the grid by storing excess energy generated during peak production times and releasing it when demand is high. ·        422.4 MW of Solar Photovoltaic (PV) Energy: Utilizing the abundant solar resources, this component will add a substantial amount of clean energy to our grid, reducing reliance on fossil fuels and lowering carbon emissions. This milestone achievement is a testament to the hard work, dedication, and collaboration of everyone involved in the project. We extend our thanks to all who have contributed their expertise and effort to make this possible. 🌎 4P Renewables “A leader 🏆 in the development of industrial scale renewable energy projects” www.4p-renewables.com 🌎 #4PRenewables🌱#WindEnergy 🔋#SustainableEnergy 🌞 #solarenergy #EnergyDevelopment

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Lightsource bp has tapped Ameresco Sunel Energy SA for the construction of a massive 560 MW solar project in central Greece. The Enipeas project, funded in part by the EU's NextGenerationEU, will feature 970,000 solar modules across two clusters: the 400 MW Skopia and the 160 MW Kalithea. Once completed in 18-24 months, it will generate 0.90 TWh annually, powering 225,000 homes and cutting CO2 emissions by 379,000 tonnes each year. This project supports Greece's decarbonization goals and boosts the local economy, providing jobs and income for local businesses. Work underway on Lightsource bp’s 560 MW solar project in Greece: https://lnkd.in/dXieQhga #RenewableEnergy #SolarPower #Sustainability #GreenEnergy

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Swiss-based Alpiq has placed an order with Merus Power to build a 30 MW/36 MWh energy storage facility in Valkeakoski to be connected to Fingrid's grid.  The agreement includes development, supply, and operation maintenance services, with delivery scheduled for summer 2025. The facility will support grid balancing by participating in the frequency reserve market and will be one of Finland's largest. “This investment in a battery energy storage system (BESS) is a valuable contribution to strengthening security of supply in our European core markets and is in line with our corporate purpose. The energy transition requires more and more intermittent wind and solar energy capacities to be integrated. Alpiq can support this integration by combining our existing expertise in flexible generation with BESS investments.” - Lukas Gresnigt, Head International and member of the Alpiq Executive Board "We have tailored Merus Power's energy storage software and services to meet the specific needs of our customers. Our software provides customers with confidence simplicity in using their devices and getting the most out of their entire investment. Our customers can also rely on the compatibility of the hardware and software and the ability to react quickly to market changes. We are able to accommodate future requirements in our existing systems - thus maintaining high availability in both the short and long term." - Kari Tuomala, CEO of Merus Power. Alpiq is a leading electricity producer in Switzerland, emphasizing sustainability and renewable energy. #MerusSolutions #MerusPower #MERUSCOPE #ESS #EnergyStorage #GreenTransition #Alpiq

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Yesterday, SolarPower Europe released yet another very interesting report showing how important it is to accelerate electrification and increase grid flexibility with e.g. batteries: https://lnkd.in/dCbY8dQT As it appears from the figure below, the potential multi sector operation cost savings from increasing electrification and increasing flexibility are immense:

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Iberdrola’s El Escudo Wind Farm Secures Permit for 101 MW Project Reading Time: 1 minutesThe El Escudo wind farm has received approval to continue preliminary construction work after developer Biocantaber, in which Iberdrola España holds a stake, secured the building permit. With a capacity of 101 MW, the wind farm will generate renewable energy equivalent to the annual consumption of 95,300 households and prevent the emission of 45,000 tonnes of CO2 annually. Initial construction work, which has already commenced under Prior Administrative Authorisation (AAP), includes the development of internal access roads, foundations for the future power line, and leveling the land for the substation that will collect the renewable energy produced […] - https://lnkd.in/dQnMa9Xt #windenergy #windturbines #offshorewind #windturbine #cleanenergy #climatechange #sustainability #energynews #smartenergy #windfarm #windindustry #renewableenergy #renewables #europe #iberdrola #renewableenergy #spain #windenergy #windfarm #windturbines

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