Europe's boom and bust solar paradox
In this episode, we delve into some of the challenges facing Europe's solar sector. Despite optimism with installations exceeding expectations, there are growing concerns about the sustainability of this growth. A warning letter from SolarPower Europe to the European Commission has raised alarm bells, cautioning against the threat posed by inexpensive Chinese imports. These imports risk undermining European solar manufacturers and could lead to insolvency within the sector. We will explore the pressing need for policy intervention to balance the competitive landscape and safeguard Europe's energy transition.
Also in the news, we discuss the Baltic Power offshore wind farm in Poland, which recently reached financial close with €3.6 billion (£3.11bn $3.81bn) in commitments. This marks a historic move, setting the stage for Poland's first financed and constructed offshore wind farm. We unpack the financial arrangements and the implications for the Polish renewable energy landscape.
Additionally, we look at more news from Poland, where Equinor and Polenergia are making strides with their MFW Baltyk 1 offshore wind farm. We discuss the project's environmental consent status and what it suggests about the future of Poland's offshore wind sector.
We also turn our focus to the UK, where Orsted is entering the solar market with a 750MW solar farm in Lincolnshire, and then to Sweden, where energy company Ellevio has acquired an onshore wind transmission network, connecting one of Europe's largest wind farm clusters to the national grid.
We'll discuss recent policy changes in the UK that have raised concerns about the country's climate priorities. We'll explore Rishi Sunak's new net zero policy direction and its impact on the UK's position as a climate leader.
- Oliver Carr - Lead Analyst
- Dila Cebeci - Senior Analyst
- Ashkenaz Al - Reporter
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Music credit: NDA/Show You instrumental/Tribe of Noise