WEEKLY REVIEW

PV Market News This Week:

1. Turkey launches tender for 800MW of new solar capacity

Turkey has launched its latest solar tender, seeking 800MW of generation capacity to be split between six projects in six regions across the country.

Applicants can submit bids until 27 January 2025 for contracts in Karapınar in the central Konya province (where 385MW of capacity is available), and the following five provinces: Karaman in the south (200MW), Malatya in the centre of the country (75MW), Van on the eastern border (60MW), Antalya on the south coast (40MW) and Kütahya in the west (40MW).

2. AER: Utility-scale solar PV sees growth on Australia's NEM whilst CERs deemed 'integral'

The Australian Energy Regulator (AER) has said that a delay in new renewable energy and energy storage capacity coming online on the National Electricity Market (NEM) in 2023-24 means the grid will reach 6.4GW at full capacity next year.

Detailed within the regulator's 'State of the Energy Market 2024' report, the NEM is continuing the transition from a centralised system of large fossil-fuel generation, such as coal and gas, towards a variety of smaller-scale, dispersed wind and solar PV generation. These are complemented by hydroelectric generation, grid-scale battery energy storage systems (BESS), and demand response capabilities.

3. India sets new record with 17.4 GW of solar in first nine months of 2024

India installed about 17.4 GW of solar capacity from January to September 2024. This included about 13.2 GW of utility-scale PV installations, 3.2 GW of rooftop projects, and 1 GW of distributed offgrid PV capacity, according to JMK Research.

Solar capacity additions in the first nine months of 2024 set a new annual record for India. These installations have brought the nation's total renewable energy capacity to 201.46 GW as of September, with solar now representing about 45% of the total – making it the largest contributor among renewable sources.

The country installed about 13.2 GW of new utility-scale solar capacity from January to September 2024, marking a 160.9% increase compared to the same period in 2023. This surge aligns with the government's plan to bid for 50 GW of renewable capacity each year over the next five years.

4. Ireland to miss 2030 solar targets by at least 2.9 GW, says SEAI

Ireland risks under delivering by up to 2.9 GW on its national 2030 solar PV deployment target of 8 GW. That is according to a new report published by the SEAI.

The government-funded group's National Energy Projections 2024 report contains the main findings of its latest national energy projections, which examine future energy use in Ireland under different scenarios.

It finds that even with additional measures in place to support renewable energy, the country will under deliver on solar capacity deployment. With existing measures in place, the authority estimates Ireland's solar deployment will come in at just under 5 GW in 2030. The country is unlikely to reach 8 GW by 2040 if current measures continue. The assumed best estimate trajectory under current measures is 2.2 GW by 2025 and 5.7 GW by 2030.

5. Saudi Arabia launches tender for 8 GWh of battery storage in world's largest deal

The Saudi Power Procurement Company (SPPC) has begun qualifying bidders for an enormous undertaking of four grid-scale battery projects totaling 8 GWh of storage capacity across the Kingdom.

The projects mark the first phase of Saudi Arabia's battery storage program, designed to support its goal of 50% renewable energy by 2030. Each 500 MW facility will operate for four hours, providing 2,000 MWh of total power capacity, said the Saudi Power Procurement Company (SPPC).

6. UK grid operator calls for 47 GW of solar by 2030, deployed at 4.6 GW per year

Solar capacity in Great Britain should triple by 2030 to meet net zero targets, according to new advice to the UK government from the National Energy System Operator (NESO). Published on Nov. 5, 2024, the Clean Power in 2030 report lists 47 GW of deployed solar capacity by 2030 as one of the key features of a carbon-free grid. The latest capacity figures published by the government record 17.1 GW as of Sept. 31, 2024.

The UK government has committed to decarbonizing Great Britain’s electricity grid by 2030 and in August 2024 it tasked the electricity system operator with providing "practical advice" on how to proceed. In response, NESO has set out a raft of recommendations on how to decarbonize the grid on the government's timescale. The advice on solar includes a threefold increase in annual capacity additions, with NESO suggesting 4.6 GW could be deployed each year from 2025 to hit clean energy targets.

7. International Solar Alliance re-elects India as president

The seventh session of the ISA Assembly in New Delhi has selected India as president and France as co-president for a period of two years from 2024 to 2026. India ran unopposed for the presidency, while France and Grenada contested the co-presidency.

8. EBRD, EU finance 126 MW solar plant in Uzbekistan

The EBRD and the European Union are financing the development of a 126 MW greenfield solar plant in the Khorezm region of northwestern Uzbekistan.

The EBRD's $54.6 million financial package consists of a senior loan of up to $44.8 million and a special facility of $9.8 million. The European Union is providing a senior loan tranche of $7 million through its European Fund for Sustainable Development Plus tool.

9. Rooftop solar installation rates rise after record month in Australia

The latest monthly update from market analyst SunWiz shows 279 MW of rooftop solar capacity (under 100 kW) was installed across Australia in October 2024, up 17 MW on the 262 MW that was installed in September.

10. Colombia adds 104 MW of new solar in Q3

Colombia built 17 solar plants with a combined capacity of 103.9 MW in the third quarter of this year, according to new figures from the country's grid operator, XM Compañía de Expertos en Mercados.

The new installations have raised Colombia's total installed solar capacity to 1,348 MW, representing about 7% of the country's energy mix. Hydropower remains dominant at 13.2 GW, followed by 6.2 GW of thermal power.