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October 27, 2020

ReneSola Power and Novergy agree to co-develop solar projects in UK

Solar project developer and operator ReneSola Power has entered a strategic partnership agreement with Novergy to develop utility-scale solar projects in the UK.

Solar project developer and operator ReneSola Power has entered a strategic partnership agreement with Novergy to develop utility-scale solar projects in the UK.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
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Novergy is a subsidy-free solar platform, which focuses on the origination, development, design, optimisation, construction and commissioning of such projects in the UK.

The company is directly involved in more than 1GW of large-scale solar projects and intends to become a key player in the decarbonisation of the UK electricity sector.

Novergy CEO Florent Leblanc said: “We are delighted to be partnering with Renesola Power who is a long-standing player in the solar sector and will enhance our financing and development capabilities in the UK.

“This agreement with Renesola Power is a testament to Novergy’s track record and a significant step towards our mission to develop 1GW of solar projects in the UK over the next few years.”

Under the agreement, ReneSola Power and Novergy will establish a joint venture (JV) company, which will continue the development of the existing pipeline of 100MW, with plans to develop another 100MW capacity in the next two years.

ReneSola European Region CEO Josef Kastner said: “We are excited about this partnership, as it combines strengths and competitive advantages of both companies, and provides new opportunities to enable further expansion into the UK market.

“We expect the JV to benefit both companies by building a more robust utility project portfolio while leveraging our expertise in project development.”

In August 2018, ReneSola signed an exclusivity agreement to sell its 206.8MW of Distributed Generation (DG) operating assets in China.

The agreement has been signed with an affiliate of Canada’s Brookfield Asset Management (BAM), which invests in renewable power businesses including more than 200 hydroelectric facilities.

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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