Transfer of Dhamma Energy’s Spanish and French solar business to energy company Eni completed

Transfer of Dhamma Energy’s Spanish and French solar business to energy company Eni completed

Madrid, 7 of October, 2021.- Dhamma Energy’s founders, Mr. Olivier Crambade and Mr. Philippe Esposito, have successfully concluded the transfer of the Spanish and French solar business to Eni gas e luce, a wholly owned company of Eni SpA.

After receiving all required approvals, on Monday October 4th the full acquisition of Dhamma Energy’s Spanish and French activities by Eni company was completed.

The transaction involves the transfer of a platform with 120 MW of operating solar plants and a solar pipeline of almost 3 GW under development in Spain and France, of which 400 MW are in an advanced stage of development. Dhamma Energy’s Madrid and France-based teams have also joined Eni company.

The photovoltaic developer and independent power producer Dhamma Energy was founded in 2008 by Olivier Crambade and Philippe Esposito and has completed to date the development of 650 MW in solar plants in international markets.

“We are very proud to have successfully concluded the transfer of Dhamma’s activities in Spain and France to Eni. Through this transaction, we transfer a robust portfolio of solar assets that we have generated over the last decade in two promising markets for the energy transition. We would like to thank Dhamma’s team for their excellent work. It has been a great experience to lead Dhamma all these years and we are convinced of having positively contributed to the development of the solar energy sector in both markets”, said Olivier Crambade and Philippe Esposito, who will now pursue their activities in other solar utility-scale markets, such as Mexico, and with their green hydrogen business, that they started in the last years, through the company DH2 energy.

Credit of the picture: Samuel Duplaix

Dhamma Energy reaches a key milestone for the 50 MWp Cerrillares I solar park in Spain

Dhamma Energy reaches a key milestone for the 50 MWp Cerrillares I solar park in Spain

Madrid, February 24, 2021.- Dhamma Energy welcomes the environmental approval for the 50 MWp solar plant Cerrillares I located in the Region of Murcia, in Southern Spain, which is a key milestone towards making the project ready to build.

International solar developer Dhamma Energy holds a majority stake of the Cerrillares I project, in which Zavi Propiedades is also a partner.

“Spain is currently one of the most attractive markets for solar plants in the world, it has an excellent solar irradiation and an exceptional human capital. Dhamma Energy, whose headquarters are based in Madrid, holds a pipeline of 700 MWp of solar parks at different stages of development in Spain,” said Olivier Crambade, Dhamma Energy’s Co-founder and CEO.

The solar park Cerrillares I is located in the municipality of Jumilla, in the Region of Murcia. Construction will start in the second semester of the year and commissioning will take place in 2022.

The solar park spreads over 95 ha of land and, once in operation, will generate 97.5 GWh per year, which is equivalent to the consumption of 30,000 households.

“The environmental approval of the solar park Cerrillares I highlights our know-how of the development process and especially of the administrative processes in Spain, where we hold a significant pipeline under development. The electricity produced by the solar park Cerrillares I will be clean and competitive, and we are advancing in its commercialization, which will be through PPAs as well as directly through the wholesale market,” said Dhamma Energy’s Deputy CEO Nicolas Fasquelle.

About Dhamma Energy

Dhamma Energy, headquartered in Madrid (Spain), develops, finances, builds and operates solar power plants. To date, Dhamma Energy has fully developed 650 MWp of solar projects, most of them located in Mexico and France. Dhamma Energy has currently a pipeline of over 3.5 GWp under development in Europe and Latin America.

The president of the Region of Hauts-de-France, Xavier Bertrand, visited last week Dhamma Energy’s solar park Athies-Samoussy, located in northern France, along with the mayor of the city of Laon, Eric Delhaye, and other public representatives.

The 87,5 MWp solar park Athies-Samoussy is in the final stage of construction and it will come online this spring.

This project has permitted the reconversion of an abandoned airport, it boosts the local and regional economic tissue and it will produce clean electricity for over 40,000 homes.

Once operative, the Athies-Samoussy project will be the largest solar plant in the region of Hauts-de-France.

Renewables keep breaking records, to account for 90% of new power capacity in 2020

Renewables keep breaking records, to account for 90% of new power capacity in 2020

The International Energy Agency (IEA) forecasts that new renewable energy capacity worldwide will be of almost 200 GW in 2020, which represents a new record. Only 10% of new power capacity will not be renewable this year, according to the report Renewables 2020.

The IEA emphasizes the decline of oil, gas and coal in the context of the Covid 19 crisis.

Solar energy will be again the most installed energy source in the world. New solar capacity will reach 107 GW in IEA’s main scenario this year and, for 2021, the agency forecasts 117 GW in the main scenario, which represents almost a 10% growth.

Afterwards, the IEA expects solar energy additions to accelerate. Besides government support, such as auctions, the IEA underlines the contribution of market drivers such as corporate PPAs and bilateral contracts.

Renewable energy will keep growing over the next years. The agency forecasts that the share of renewable energy in the world electricity mix will reach one third in 2025. In 2020, renewable energy will make around 7% of the world power mix.

Renewables cover a third of the electricity mix in the second quarter in France

Renewables cover a third of the electricity mix in the second quarter in France

In France, a new record was set in the second quarter as renewables covered 33.2 % of the electricity consumption. The previous peak was reached in the second quarter of 2018 as renewables covered 30.7% of the electricity mix, according to grid operator RTE.

Solar PV also set a record in the second quarter 2020! Solar PV installations in France covered then 4.8% of electricity consumption. Solar PV production reached 4.5 TWh, 11.5% higher than in the same quarter last year.

Renewable energy capacity grew steadily last year in France. 2,451 MW were added over the last year and total renewable energy capacity reached 54,690 MW last June, according to RTE.

As part of the response to the Covid 19 there has been a boost of renewable energy in the world. The European Union recently announced more efforts in the short term to accelerate the reduction of CO2 emissions as well as new mechanisms to support the deployment of renewable energy.

In France, renewable energy targets anticipate significant growth. For solar PV, current target is of 20,100 MW in 2023, which would mean doubling the current capacity.

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