Nextpower and Abunayyan Holding have completed the incorporation of their joint venture (JV), Nextpower Arabia, headquartered in Riyadh, Saudi Arabia. The JV has been established to support the deployment of utility-scale solar projects across the Middle East and North Africa region. Additionally, the partners have announced a new advanced manufacturing facility in Jeddah that will be operational in the second quarter of 2026.
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Scatec ASA has entered into a long-term power purchase agreement (PPA) with the Egyptian Electricity Transmission Company for the development of a solar-plus-storage project in Egypt. The agreement covers 1.95 GW of solar generation capacity and 3.9 GWh of battery storage. As per this arrangement, Scatec will develop one integrated solar and battery storage hybrid project, alongside two standalone battery energy storage systems.
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Treaty Oak Clean Energy has closed financing and begun construction on two solar projects in Louisiana, together adding 385 MW of renewable capacity. The projects include the Beekman solar project in Morehouse Parish and the Hollis Creek solar project in Sabine Parish. The electricity generated from both projects will be supplied to Meta Platforms through long-term offtake arrangements.
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Masdar has entered into a power purchase agreement (PPA) for a 150 MW solar project in Angola. The agreement secures long-term electricity offtake for the Quipungo solar project, which is located in Huila province in southern Angola. The PPA was signed with the Rede Nacional de Transporte de Electricidade (RNT-EP), the state owned electricity-transmission company.
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After a period of unprecedented growth, the EU solar market is poised to take a small step back in 2025. The bloc is set to install 65.1 GW of new solar PV capacity, marking the first annual decrease in market size in a decade. Following years of extraordinary expansion, +38% in 2021, +48% in 2022, and +51% in 2023, growth had already slowed sharply in 2024, when installations rose only 2.8% to 65.6 GW. In 2025, the market is expected to shrink by 0.7%, confirming that the EU solar boom is under pressure. Several factors underpin this slowdown.
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EDP, S.A., through its subsidiary EDP Renováveis, S.A. (EDPR), has secured a 30-year power purchase agreement (PPA) with Consumers Energy Company for electricity generated from a 150 MWac, or 209 MWdc, solar project in Clark County, Illinois, US. Completion of the transaction remains subject to regulatory clearance from the Michigan Public Service Commission. The solar project is scheduled to commence operations in 2027.
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Global floating solar capacity is projected to expand rapidly over the next decade, reaching around 77 GW of installed capacity by 2033, with the Asia-Pacific region expected to lead this growth. This expansion reflects falling generation costs, currently between USD 0.05 and 0.07 per kWh, and continued design innovations that are making floating solar a viable alternative to land-based systems. The Global Floating Solar Framework consolidates global experience and presents it in a form that is practical, actionable, and adaptable.
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The Ariguaní Solar Park, planned with a capacity of 200 MW, has received environmental approval from Colombia’s National Environmental Licensing Authority (ANLA), enabling the project to move forward under the applicable regulatory framework. The project is being developed by Xuenergy FV SAS. It is located in the Los Cerrajones district of the municipality of Chiriguaná in the Cesar department.
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PowerBank Corporation has entered into a loan agreement with NY Green Bank for a revolving credit facility with an initial principal amount of up to $8 million. The financing will be used to fund interconnection deposits required by utilities to complete the grid interconnection process for solar and battery storage projects in the state of New York. These deposits are refundable if a project does not reach commercial operation.
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Voltalia has commenced construction of the Artemisya hybrid energy cluster in Uzbekistan, covering battery storage and the first phase of wind capacity. The initial phase includes a 100 MW/200 MWh battery energy storage system project and a 100 MW wind project. The entire Artemisya cluster is planned to comprise 126 MW of solar capacity, 300 MW of wind capacity, and 100 MW/200 MWh of battery storage.
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EDP Renováveis, S.A. (EDPR) has completed an asset rotation transaction involving the sale of a 100 per cent equity stake in a 190 MWac, or 229 MWdc solar portfolio in Spain. The solar portfolio was sold to Prosolia Energy for an estimated enterprise value of about €0.16 billion. It comprises five operational solar power plants located across the regions of Andalucía and Castilla y León.
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The Ministry of Mines and Energy of the Brazilian government has announced that the Novo Oriente photovoltaic complex, located in Ilha Solteira, São Paulo, Brazil, has entered full commercial operation. This milestone was achieved following the commissioning of its final plant in December 2025. With this commissioning, the entire solar park now operates at its complete installed capacity of 254.5 MW.
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Israel’s Finance Ministry has announced that a new solar plant integrated with the battery energy storage system (BESS) will be developed at the Ashalim power station in southern Israel. The project is designed to deliver up to 80 MW of electricity to the national grid. It will include solar photovoltaic installations with a total capacity of 150 MW. Additionally, the project will incorporate a 400 MWh BESS.
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European Energy has completed grid connection of the Glejbjerg solar park in Denmark, bringing 148.2 MW of utility-scale solar capacity into full operation. The project reached commercial operation at the end of 2025 after final technical checks were concluded. Construction of the solar park was completed over a period of about one year. The Glejbjerg solar park consists of 238,368 solar modules.
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Masdar has signed a power purchase agreement (PPA) to develop a 200 MW floating solar project at the Chereh dam in Pahang state, Malaysia. The project will be implemented by a consortium led by Masdar, along with Citaglobal and Tiza Global, and the agreement has been executed with Tenaga Nasional Berhad, Malaysia’s national utility company. The project was awarded under Malaysia’s Large Scale Solar Cycle 5+ programme.
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Competitive Power Ventures (CPV), through its affiliate CPV Renewable Power, has commenced commercial operations at the CPV Backbone Solar project in Garrett County, Maryland. The 160 MW solar project has been developed in partnership with Harrison Street Asset Management and is located on reclaimed land from a decommissioned coal mine. Additionally, the project secured its third round of tax equity financing with US Bank.
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European Energy has taken the final investment decision (FID) on a 225 MW agri-PV project near Vizzini in Sicily, after securing support under Italy’s FER-X Contract for Difference auction. The project received its authorisation in 2023 and has now progressed following the successful auction outcome, which provides long-term revenue certainty. The project is scheduled to reach commercial operation by the end of 2027.
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OMV Petrom and Complexul Energetic Oltenia (CE Oltenia) have commenced construction on their solar parks in Romania, which have a cumulative installed capacity of around 550 MW. TThe development comprises four solar parks that are located in Ișalnița, Tismana, and Rovinari. OMV Petrom and CE Oltenia are developing the projects as equal partners, each holding a 50 per cent stake. They are scheduled to become operational in 2026.
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ACME Solar Holdings has bagged a debt tie-up of Rs 47.2 billion from Indian financial institutions. Out of the total financing, Rs 27.1 billion has been secured from Power Finance Corporation for ACME’s 300 MW firm and dispatchable energy (FDRE) project. Furthermore, Rs 8 billion was secured from the National Bank for Financing Infrastructure Development. The remaining amount of Rs 12.09 billion was secured from Yes Bank.
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The International Finance Corporation (IFC) has announced a partnership with AMEA Power and Kyuden International Corporation of Japan to develop a large-scale solar and battery energy storage system project in Egypt. The collaboration will support the construction of the Abydos II project through Abydos For Renewable Energy. The project will be located in Aswan Governorate in southern Egypt.
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