The main business model for the European market is to develop medium and large-scale ground mounted PV plants. Combinations of PV projects with storage as well as Agrivoltaics (PV plus farming) and floating PV projects are also areas we are pursuing. Emeren in Europe is developing projects until RTB (ready to build) or COD (commercial operational date) for sale, while running our own plants as IPP (independent power producers).
Emeren is one of the very first PV developers and operators in the Polish market. We established our local office in 2015, and since then we have been successful in growing the projects portfolio every year. Close co-operation with local developers, joint ventures, and through leveraging our own internally strong project development expertise have enabled us to grow an attractive pipeline of projects under various stages of development, construction, financing and operation.
In the beginning we started with single MW projects connected to MV grid, based on the support system but soon added large-scale projects, HV connections, and work on PPA agreements to execute un-subsidized projects. Diversity of project portfolio allowed constant growth despite pandemic influences, energy market challenges, and regulation changes.
Emeren is actively seeking PV and BESS possibilities, new market opportunities, M&A, and co-development opportunities. Our team has a proven track record in project management, project development, construction, operations & maintenance, project finance, and project sales to reputable investors.
Amongst Hungary’s renewable energy sector, solar power is one the most promising and rapidly growing segments. To meet the energy sector’ decarbonization goals, the solar sector is expected to reach 12 gigawatts (GW) by 2030, making Hungary an attractive investment opportunity in the renewable energy sector.
Emeren started its activities in Hungary in 2018 and opened a local office in Budapest. We have successfully developed, constructed, and financed utility size PV projects in various counties for sale to reputable investors. Our team has a strong track record and despite challenging macro conditions, we are well-positioned to maintain our rapid growth and key player status in the country.
Emeren has been developing solar PV in the UK for more than 10 years. The team started off focusing on late-stage development assets whereby the projects were taken into construction. Emeren consolidated the assets into a large portfolio before selling them. Currently, Emeren is creating a pipeline of solar PV and BESS projects. We are currently investing in greenfield projects, structured JVs, and M&A opportunities. We believe the UK will remain an important market for PV and BESS for the foreseeable future.
Italy is one of our newest markets where we currently develop greenfield assets. We aim to take these projects to RTB over a 2–3-year period. We also develop assets for third party clients whereby we have signed multiple development service agreements. We have acquired a development platform which is helping us achieve both our short term and long-term goals. Emeren is also looking to develop standalone BESS projects in Italy. Italy is a strong market for us, and we have a long-term view of developing assets there in the years ahead.
The market conditions in Germany are excellent due to a stable economic situation, a renewable energy law with feed in tariffs (called EEG), a large amount of renewable energy plant references, and a long history in the renewable energy sector. The German government has announced the objective to reach carbon neutrality by 2045 and set ambitious goals for renewable energies. Until 2040, 400GWp of photovoltaic plants would be built. For photovoltaics, this means getting around 20GWp per year on average in operation.
Emeren started its business in Germany during the Spring of 2021 with a focus on developing medium and large-scale ground mounted PV plants based on FIT or PPA. Emeren’s focus on the German market is to develop projects until RTB or COD, while considering opportunities to run self-owned IPP plants. To reach these targets, Emeren is aiming for partnerships with other market players and is open to buy partially developed projects. In parallel, Emeren will also grow its pipeline of greenfield projects.
Spain remains a PV solar market leader in Europe with 7.5 GW of new installations in 2022. Since 2018, Emeren has been focusing in the development, construction, financing, and operating of top-quality utility scale PV projects.
Our engineering capabilities help us design cost-efficient projects, which are backed by a thorough analysis of the land, solar radiation, grid connection infrastructure, and emerging technologies. Our project design also considers various factors such as the geographical location, climate conditions, temperature, and its impact on equipment, local facilities, as well as potential maintenance requirements.
We have developed utility scale PV projects from greenfield to RTB for sale to reputable investors. Our rapidly growing pipeline of projects span more than 20 different locations.
The Renewable Energy market in Spain has recently launched a new regulation plan to control the capacity grid access by yearly auctions. Emeren is developing an ambitious strategy to participate successfully in these future tenders, scouting land and co-development opportunities as part of our long-term growth plan.
In 2018, the French government decided to increase the RES to 33% gross final energy consumption by 2030. In February 2022, it was also announced that France would strive to achieve the objective of 100 GW of solar energy by 2050.
France is a highly developed market with experienced local and international investors maintaining a high demand for RTB projects. Bid systems supported by the government ensure current development on restricted areas, allowing PV rooftop, shade houses, and ground mounted project development. Each category benefits from a specific unique tender tariff around USD 0.06 /kwh to USD 0.09/kwh over the 20-year period.
Our project development expertise in France includes carrying out feasibility studies, designing power plants, supervising technical studies offices, and obtaining administrative authorizations related to ground-mounted PV projects. We maintain close contact throughout the project development phase with the municipalities, owners, and administrations. We work proactively with owners, mayors, and local authorities to promptly address all requirements including landscape and environmental issues. Our rapidly growing pipeline of top-quality projects remain attractive to both local and international investors.
Our Engineering, Procurement and Construction Management (EPCM) Team defines the main design parameters, manages the procurement of the key components of solar power plants and contracts and monitors construction companies to build large ground-mounted solar power plants in the region. We usually enter short-term contracts with our suppliers and contractors on a project-by-project basis or project portfolio basis.