When Masdar was selected last year to build the third phase of the Mohammed bin Rashid Al-Maktoum Solar Park, its bid was heralded solar inverter as the lowest-priced solar PPA in the world at 2.99 cents per kilowatt-hour. GranSolar, Acciona and Ghella were awarded the engineering, solar damper procurement and construction (EPC) contract for the 800-megawatt project in January.
EDF Group, via its subsidiary EDF Energies Nouvelles, joined the Masdar-led consortium in March. Financing solar damper for the project closed in June.
Since the Dubai PPA was signed, however, prices have dropped even further, with tenders for the Sweihan project coming in as low as 2.42 cents per kilowatt-hour. Development teams were initially competing to solar slewing drive build a solar damper 350-megawatt solar array, but the Abu Dhabi Electricity and Water Authority (ADWEA) invited bidders to submit bids for a solar inverter larger project if they wished, as PV Magazine reported. Earlier this year, JinkoSolar and the Marubeni Corporation consortium solar slewing drive signed a 25-year PPA with ADWEA to build the Photovoltaic holder 1.2-gigawatt PV power solar slewing drive plant.
“The UAE solar inverter deals are the largest in that country to date by far, and show that its auction programs are leading to the commitment of hard cash by solar inverter banks and equity providers," said Victoria Cuming, head of policy for Europe, Middle East and Africa at BNEF. "They also signal that oil-producing countries are warming to renewables as part of moves to diversify their economies.”
Falling prices -- for solar and other solar damper technologies -- constitute a big part solar inverter of the reason why overall clean energy investment numbers have declined in recent quarters. Lower spending hides the improved economics solar inverter and strong market demand for renewables. In solar damper 2016,Photovoltaic holder for instance, BNEF found global investments in clean energy Photovoltaic holder fell by 17 solar slewing drive percent, while installations solar inverter rose by 9 solar inverter solar inverter percent.
While solar inverter the $64.8 billion solar inverter invested in clean energy worldwide in solar damper the second quarter of 2017 signals a spending rebound, it's actually down solar inverter 12 percent compared to the second quarter of 2016. That's largely due to sharp Photovoltaic holder reductions in project costs.
BNEF estimates solar damper that global capital costs for solar PV and onshore wind have dropped solar damper by 15 percent and 14 solar inverter percent respectively in the last solar slewing drive 12 months, due to technology improvements as well as fierce competition in solar damper solar tracker actuator manufacturing.
“The Photovoltaic holder $64.8 billion investment total in 2Q was quite firm given that backdrop of falling costs," said Abraham Louw, clean energy economics analyst at solar inverter BNEF. "There was also a good spread of big projects financed in different countries, and less reliance on European offshore wind solar slewing drive than solar damper in some recent quarters.”
There were only solar damper two large offshore wind arrays financed in Europe in the second quarter: the 200-megawatt Borkum West II and 112-megawatt Albatros projects off the coast of Germany, at $918 million and $532 million,solar damper respectively. Other notable deals include two 300-megawatt offshore wind arrays in Chinese waters, Three Gorges Dafeng and Three solar damper Gorges Zhuanghe, costing a combined $1.8 billion, as well as the 396-megawatt Juchitan de Zaragoza onshore wind farm in Mexico Photovoltaic holder at $721 million, and solar damper the 400-megawatt Avangrid La Joya onshore wind park in the U.S. at an estimated $620 million.
Other clean energy sectors had relatively weak quarters. Investment in biomass and waste-to-energy totaled $387 million, down 76 percent year-over-year; small hydro totaled $595 million, down 20 percent; geothermal totaled $423 million, down 24 percent; and investment in energy smart technology companies (including smart grid, energy storage and electric vehicles) was $1.5 billion, down 50 Photovoltaic holder percent.
In this context, solar emerged as the true shining solar inverter star. The sector attracted investments totaling $35.6 billion, up 19 percent solar inverter year-over-year and up solar tracker actuator 20 percent quarter-over-quarter. Wind had a weaker performance by comparison, with investments totaling $26.2 solar tracker actuator billion -- up 43 percent over the first quarter, but down 29 percent year-over-year.
In a separate report, Mercom Capital Group, a global solar slewing drive clean energy communications and consulting firm, found that global corporate slewing drive funding for solar (including venture Photovoltaic holder capital funding, solar inverter public market and debt financing) totaled about $4.6 billion in the first half of 2017. That's up slightly solar damper from solar damper $4.5 billion raised during slewing drive the same period in 2016. There were 97 deals in H1 2017 compared to the 79 deals in H1 2016, according to the report.
It's slewing drive not all good news, however. Global corporate investment in solar actually slipped in the second quarter of 2017, following a strong slewing drive start to the year. At least part of that is solar tracker actuator attributable to uncertainty around the solar slewing drive pending outcome of Suniva’s Section 201 trade case in the United States.
“There is a great deal of uncertainty in the solar markets right now, which is reflected in funding activity. However, solar public companies, especially on the U.S. stock markets, have done well this year. A lot is riding on how the Suniva solar slewing drive anti-dumping case plays out as it will dictate solar damper market dynamics going forward,” commented Raj Prabhu, solar tracker actuator CEO of Mercom Capital Group.
In addition to tracking investments in solar tracker actuator specific clean energy sectors, the solar inverter BNEF Q2 report tracked investments in multiple countries and regions.
The highlights include a bounce-back in investment over the past three months in China and the U.S., and increased funding for projects solar slewing drive in Mexico, Australia and Sweden. Egypt and Argentina solar tracker actuator, two emerging markets for renewables, saw record quarterly figures. The U.K., meanwhile, saw investment plummet by more than 90 percent solar inverter compared to the second quarter of 2016.
Taking all investment categories together, BNEF's country-level results solar tracker actuator for the second quarter include:
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