Emeren Group's Successful Venture into Solar Energy in Spain
July 13, 2024, 4:20 am
Emeren Group Ltd, a prominent player in the solar energy sector, recently made waves with the sale of a 42 MWp RTB solar project portfolio in Spain to CVE España, a subsidiary of CVE, a French Independent Power Producer (IPP). This portfolio, consisting of eight Greenfield projects developed by Emeren since 2021, marks a significant milestone in the company's journey towards sustainable energy solutions.
The projects, with sizes ranging from 5MW to 6MW, are strategically located in various regions of Spain, including Castilla-y-Leon, Comunidad Valenciana, and Andalucia. Together, these projects are projected to generate a total of 92,792.936 MWh/year of energy, equivalent to the consumption needs of 28,360 households in the local region. Additionally, the carbon emissions avoided through these projects are estimated to be around 20,093.73 tons of CO2 per year, contributing to environmental sustainability.
Yumin Liu, the CEO of Emeren Group, expressed his satisfaction with the partnership with CVE Group, emphasizing the significance of this collaboration in expanding their solar and battery storage portfolio. He highlighted the competitive and promising nature of the Spanish PV market and the positive outlook for solar PV in Spain and Europe, driven by policy support, technological advancements, and a growing emphasis on renewable energy.
Pierre de Froidefond, Managing partner of CVE, echoed Liu's sentiments, expressing excitement about the accelerated development opportunities that this transaction brings. He mentioned the goal of tripling their installed capacity by late 2025, reaching up to 65MWp in Spain. This expansion aligns with CVE's strategic objectives of producing distributed solar energy and selling it through Power Purchase Agreements (PPAs), catering to the needs of corporate consumers in Spain.
Emeren Group Ltd, with its comprehensive portfolio of solar projects and IPP assets, coupled with a significant global Battery Energy Storage System (BESS) capacity, stands out as a leader in the renewable energy space. Their commitment to leveraging local talent in each market, ensuring efficiency and impact in sustainable energy solutions, underscores their dedication to innovation, excellence, and environmental responsibility.
CVE Group, a mission-driven company focused on renewable energies, operates across multiple countries and energy sources, including solar, biogas, and hydrogen. Their approach to promoting new business models based on direct energy sales and producing renewable energy locally resonates with the evolving needs of industrial consumers, local authorities, businesses, and farmers. With plans to reach a renewable installed capacity of 3.6 GWp by 2028, CVE Group's commitment to high social and environmental standards is evident through their B Corp certification.
In conclusion, the successful sale of the 42 MWp RTB solar project portfolio in Spain by Emeren Group to CVE España signifies a significant step towards a more sustainable future. This partnership not only highlights the potential for growth and innovation in the renewable energy sector but also underscores the importance of collaboration in driving positive change towards a greener and more environmentally conscious world.
The projects, with sizes ranging from 5MW to 6MW, are strategically located in various regions of Spain, including Castilla-y-Leon, Comunidad Valenciana, and Andalucia. Together, these projects are projected to generate a total of 92,792.936 MWh/year of energy, equivalent to the consumption needs of 28,360 households in the local region. Additionally, the carbon emissions avoided through these projects are estimated to be around 20,093.73 tons of CO2 per year, contributing to environmental sustainability.
Yumin Liu, the CEO of Emeren Group, expressed his satisfaction with the partnership with CVE Group, emphasizing the significance of this collaboration in expanding their solar and battery storage portfolio. He highlighted the competitive and promising nature of the Spanish PV market and the positive outlook for solar PV in Spain and Europe, driven by policy support, technological advancements, and a growing emphasis on renewable energy.
Pierre de Froidefond, Managing partner of CVE, echoed Liu's sentiments, expressing excitement about the accelerated development opportunities that this transaction brings. He mentioned the goal of tripling their installed capacity by late 2025, reaching up to 65MWp in Spain. This expansion aligns with CVE's strategic objectives of producing distributed solar energy and selling it through Power Purchase Agreements (PPAs), catering to the needs of corporate consumers in Spain.
Emeren Group Ltd, with its comprehensive portfolio of solar projects and IPP assets, coupled with a significant global Battery Energy Storage System (BESS) capacity, stands out as a leader in the renewable energy space. Their commitment to leveraging local talent in each market, ensuring efficiency and impact in sustainable energy solutions, underscores their dedication to innovation, excellence, and environmental responsibility.
CVE Group, a mission-driven company focused on renewable energies, operates across multiple countries and energy sources, including solar, biogas, and hydrogen. Their approach to promoting new business models based on direct energy sales and producing renewable energy locally resonates with the evolving needs of industrial consumers, local authorities, businesses, and farmers. With plans to reach a renewable installed capacity of 3.6 GWp by 2028, CVE Group's commitment to high social and environmental standards is evident through their B Corp certification.
In conclusion, the successful sale of the 42 MWp RTB solar project portfolio in Spain by Emeren Group to CVE España signifies a significant step towards a more sustainable future. This partnership not only highlights the potential for growth and innovation in the renewable energy sector but also underscores the importance of collaboration in driving positive change towards a greener and more environmentally conscious world.