Progressing Towards an Increased Target of 10GW of Renewable Energy Projects Globally

Source: 9/29/2022, Location: Europe

STARLIGHT OPERATING UPDATE - Currently at 8.3GW of projects under development (versus an initial target of 5GW)
- Successfully entered Canadian and Romanian solar PV markets as well as wind (on- and off-shore) in Italy
- Set to become one of the top energy transition developers globally

Starlight, a NextEnergy Group company, it set to become one of the largest specialist renewable asset developers globally with its increased global pipeline target of over 10GW of renewable energy projects under development, from its current development pipeline of 8.3GW.

Continuing its growth momentum, Starlight has recently entered two new jurisdictions, Canada and Romania, targeting the development of 1.75GWp of utility scale solar PV plants (1GWp in Canada and 750MWp in Romania respectively) over the next five years. Since entering these markets Starlight has already secured land rights and preliminary connection terms for c.435MWp of solar PV assets with 450MWp under assessment and further negotiations on grid connections and land rights underway.

Starlight has also successfully expanded into new renewable technologies for the NextEnergy Group, including battery energy storage systems (both co-located with solar PV and standalone), in countries where it already has a presence. The active pipeline for these technologies already includes c.120MW of on-shore wind (out of a target of 400MW) and 1.6GW of off-shore wind in Italy across two projects, as well as 3.4GW of battery energy storage systems (in UK and Italy) which are all currently under development. The Starlight solar pipeline has now reached 3.1GWp.

In total Starlight has reached an identified gross pipeline of c.8.3GW under development, spread across four technologies, significantly greater than its initial pipeline target of 5GW, and is now targeting a renewable energy development pipeline of 10GW. The platform is currently active in five jurisdictions (UK, Italy, Greece, Romania, and Canada), and plans to expand into additional geographies shortly, that may include the US, Germany, Chile, Poland and India. The team driving Starlight continues to expand rapidly, in both skillset and regional background, and now accounts for over 35 people.

Aldo Beolchini, Managing Partner and Chief Investment Officer, NextEnergy Group, commented:
"At NextEnergy Group we believe renewables are key to the transition to more sustainable, independent and resilient energy systems worldwide. Through Starlight's increased commitment to develop 10GW of projects worldwide, we seek to support the countries in which we operate in speeding up their transition away from carbon emitting sources to a clean and secure energy supply. The Starlight team has the right skillset to successfully convert the secured pipeline into ready-to-build assets, across multiple geographies and renewable energy technologies".

Gianluca Boccanera, Managing Director, Starlight, said:
"We have been monitoring both the Romanian and Canadian renewables market for a while and now we are ready to transfer our expertise and apply our development approach to these countries. Adding these jurisdictions to our development platform demonstrates the team's ability to move quickly but diligently to secure attractive opportunities. Further to this, entering into new technologies like on- and off-shore wind, and battery energy storage systems represent a significant milestone for Starlight and the NextEnergy Group".

Brazil >>  11/30/2023 - Sungrow, the global leading inverter and energy storage system supplier, announced the Company supplied Comerc Renew, BU (business unit) of centralize...
China >>  11/30/2023 - In recent years, distributed photovoltaic growth in Xuzhou, Jiangsu Province, in order to enhance the high proportion of distributed photovoltaic grid...

China >>  11/30/2023 - UL Solutions, a global safety science leader, published a bankability study report on Trina Solar's complete Vertex n-type portfolio. The report's fin...
Mexico >>  11/30/2023 - Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery syst...

United States >>  11/30/2023 - A unique partnership among five Chicagoland counties, nonprofit advocates and expert solar professionals will educate consumers on how they can instal...
Azerbaijan >>  11/29/2023 - The 308MWp Area 60 solar power project, Azerbaijan's first and largest utility-scale PV power plant has officially commenced operations, using Sungrow...

Gulf Oil and Gas
Copyright 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.