#7 Issue of Emerging Clean Tech Markets

Ukraine's Resilience Shines: Solar Energy Thrives Amidst War

EU solar electricity generation increased by 24% in 2022, boosting solar's share in the electricity mix to 7.3%, as reported by Ember's European Electricity Review 2023. Despite the ongoing war, Ukraine continues to expand its solar capacity, albeit at a slower pace. War damage has affected around 15% of Ukraine's solar plants, but rooftop solar continues to grow. The recent war's effect on energy infrastructure has caused more than $10 billion in damages, leading to regular blackouts and the need for renewable energy sources. As Ukraine begins rebuilding, the government aims to increase the usage of renewables, including solar energy. The Solar Energy Association of Ukraine predicts that the nation's installed PV capacity could reach 17 GW by 2030, with an additional 20 GW planned for residential and communal buildings. Amidst challenges, Ukraine continues to contribute to the European solar industry and pushes for self-sufficient microgrids.

Eurowind Energy's EUR 50 Million Agrivoltaic Project Combines Solar Energy and Agriculture in Romania

Danish company Eurowind Energy is set to begin construction on a EUR 50 million agrivoltaic park in Teiu?, Romania. The 70 MW solar project, covering 80 hectares, will generate around 102 GWh of electricity annually, sufficient to power approximately 30,000 homes. Additionally, the land will also be used for grazing by 130 local farmers. Agrivoltaic initiatives, merging agriculture and solar power, are gaining traction in Southeastern Europe. This marks Eurowind Energy's fourth renewable energy venture in Romania, with the company operating 12 energy parks throughout Europe with a combined capacity of 100 MW.

EU to Revote on Ambitious Renewable Energy Bill Amid Nuclear Energy Controversy

The European Union is set to reconsider its proposed renewable energy bill, which requires member states to produce 42.5% of their energy from renewable sources by 2030. The legislation faced opposition from France, who sought recognition of nuclear energy as part of renewable targets, and countries like Bulgaria, Romania, and Poland, who deemed the targets as too high. Currently, the EU's renewable energy contribution stands at 22%, with uneven distribution among member states. The proposed legislation aims to combat climate change and reduce reliance on Russian fuel. While nuclear energy is low-carbon, it is not considered renewable, which France argues is disadvantageous to its largely nuclear energy share. To alleviate concerns, the EU proposed options such as a declaration recognizing the challenges faced by some countries. A decision has been delayed due to resistance from both pro- and anti-nuclear states. Source: https://www.power-technology.com/news/eu-to-vote-on-renewables-bill-after-nuclear-row/

A quote of the week:

The European Investment Bank vice-president Ricardo Mourinho Félix commented in a statement as EIB and Iberdrola accelerate wind and solar in Europe with €1 billion loan:

“This is a strategic objective for the European Union and the EIB that will not only contribute to climate change mitigation, but also to the EU’s energy security and strategic autonomy. As the horrific war in Ukraine has shown, sustainable energy and energy security are two sides of the same coin.”

Bucharest to Host CISOLAR 2023: The Premier Solar Energy Conference and Trade Show This October

CISOLAR | Learn More

BUCHAREST - Preparations are in full swing for CISOLAR 2023, the leading solar energy conference and trade show in Central and Eastern Europe, scheduled to take place on October 30-31 in Bucharest. The event is anticipated to attract solar industry professionals, innovators, and policymakers from across the globe, providing an invaluable platform for insights, networking, and business opportunities.

CISOLAR 2023 has firmly established itself in the renewable energy calendar, renowned for its blend of informative presentations, cutting-edge discussions, and a vibrant trade show featuring the latest innovations in solar energy technology.

The trade show portion of CISOLAR 2023 will provide companies with an opportunity to showcase their products, technologies, and services to a global audience. Attendees will gain first-hand exposure to the latest advancements in solar energy, making it a must-attend event for professionals seeking to stay ahead of industry trends.

For more information, please visit www.cisolar.org.

EU Disburses €450 Million to Support Western Balkans in Energy Crisis and Energy Transition Efforts

The European Commission has disbursed €450 million, or 90% of a planned €500 million, to Western Balkan countries as part of a €1 billion Energy Support Package. The funding, allocated between February and May 2023, is aimed at mitigating the impact of the energy crisis on vulnerable families and small and medium-sized enterprises (SMEs) while also accelerating the energy transition in the region. Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia have received funding to subsidize energy prices, support energy efficiency, and invest in renewable energy sources. EU Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, emphasized the EU’s commitment to aiding the Western Balkans. The remaining €500 million of the package will be used for advancing energy transition and independence, including renewable energy projects, improvements to gas and electricity infrastructure, and upgrading district heating. The package is expected to mobilize up to €2.5 billion in total investments.

Solida Leads Agrivoltaic Movement in Croatia with EUR 10 Million Investment into a 15 MW Solar Farm

Croatian solar power developer, Solida, is initiating the use of agrivoltaics in Croatia, merging agriculture with solar energy. The company has begun constructing a 15 MW peak capacity facility, which will also house a sheep farm. The EUR 10 million project, located in Solida's hometown of Ivanec, is expected to be completed within a year. Solida's owner, Dubravko Posavec, revealed that an additional 30 MW peak capacity project is in progress, and that the company holds location permits for 200 MW in total, all of which are intended for agrivoltaics. This is part of a broader trend in Southeastern Europe, where agrisolar is becoming increasingly popular.

Renewable Energy Sources Hit Record 54% Share in Greece's Electricity Mix in May

Greece reached a new milestone in May, with renewable energy sources accounting for 54% of its electricity production. Data from the Independent Power Transmission Operator (IPTO) shows that during this period, solar and wind energy made up 48% of the mix, and renewables surpassed 90% of production for 21 hours. This record placed Greece seventh globally for the share of renewables in production. Investor interest in Greek renewables has increased, with grid congestion being the main obstacle to the completion of new projects.

Record High North Atlantic Temperature Anomaly Triggers Alarm Among Climate Scientists

The Independent |?Read Article

A "sea surface temperature anomaly" in the North Atlantic that has risen to record highs has provoked concern among scientists, who are investigating potential causes including changing wind patterns, global warming, or a lack of Saharan dust. With the North Atlantic temperature surpassing previous records by 1C for this time of year, experts fear the anomaly could impact atmospheric temperatures and weather patterns. The unusual warmth coincides with a broader trend of extreme global surface air and ocean temperatures, sparking debate about possible acceleration of climate change.

RISING MARKETS

Global Carbon Capture and Storage Market Predicted to Reach $9.39 Billion by 2027

Yahoo Finance | Read Article

The global carbon capture and storage market is expected to grow from $4.77 billion in 2022 to $5.43 billion in 2023, according to a report by Reportlinker. Despite the challenges posed by the Russia-Ukraine war and ensuing global economic disruptions, the market is projected to hit $9.39 billion by 2027. The growth is attributed to increasing CO2 emissions worldwide, leading to a higher demand for carbon capture and storage solutions. The report also highlights product innovations and recent acquisitions in the sector.

E.ON CEO Calls for Expanded Grid Infrastructure Amid Energy Volatilities

Reuters | Read News

European power and gas networks need to grow to handle future energy supply volatilities, following the 2022 crisis caused by missing Russian gas supplies, according to E.ON CEO Leonhard Birnbaum. He emphasized that the existing grid infrastructure is inadequate if Russian gas completely halts, considering the need to supply Eastern Europe and Austria via Germany. Birnbaum also highlighted the need for a larger and more flexible power system to manage the intermittency of renewables.

New Bulgarian Energy Minister Rumen Radev Spearheads Hydrogen Valley Project

Balkan GreenEnergy News | Read Article

Rumen Radev, Bulgaria’s newly appointed Minister of Energy, has been actively involved in promoting a hydrogen valley project in Stara Zagora. As the economic director of Holding Zagora, a partner in the project, Radev coordinated the creation of an entire value chain from hydrogen production and storage to distribution and consumption. The local government has allocated land for a photovoltaic plant to supply an electrolyzer projected to produce 500 tons of green hydrogen annually. Additional plans include using hydrogen to power street lighting and introducing hydrogen-fueled city buses.

EU's Modernisation Fund Disburses €2.4 Billion to Support Energy System Modernisation

European Commission | Read Article

The European Union's Modernisation Fund has disbursed €2.4 billion to 31 projects across seven countries to modernise their energy systems, enhance energy efficiency, and reduce greenhouse gas emissions. The fund aims to assist member states in reducing their dependence on Russian fossil fuels, meeting their 2030 climate and energy targets, and contributing to the EU's goal of achieving climate neutrality by 2050. The beneficiaries include Romania, Czechia, Bulgaria, Poland, Croatia, Latvia, and Lithuania, with the disbursement increasing the total funds issued by the Modernisation Fund since January 2021 to approximately €7.5 billion.