24 July 2023
24 July 2023
A new EU battery regulation has become law following final agreement by MEPs and national governments. Can it reduce Europe’s dependence on foreign battery makers for electric vehicles and consumer goods?
The joint venture will be owned by Mingyang and BASF with 90% and 10% stakes, respectively.
The sale agreement covers the onshore substation, export cables, offshore substation and an offshore reactive compensation station.
The power plants have been designed with an option to be converted to run 100% on hydrogen in the future.
Lithuania had been lobbying its fellow Baltic states to decouple by early 2025, but Estonia argued it would cost too much and refused.
Portugal is the latest in a growing number of European countries electing to leave the treaty.
Auctions will be conducted by the DOI’s Bureau of Ocean Energy Management in August 2023.
This will be Modus’ first acquisition in Latvia and builds on its success investing in the Baltics and Poland.
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