June 20th, 2014
This week’s “Top 5” includes the first storage project for primary reserve in France, a joint venture in China, news from Younicos in the USA, and bad news for PV in southern European countries.
1. Alstom and Saft will provide a 1M/30min lithium-ion storage system to EDF’s Les Renardières R&D center in late 2014 to test how storage impacts primary reserve.
2. Wanxiang and NEC announced a storage joint venture to operate in China.
3. Younicos hired 25 employees in addition to the 80 employees from the former Xtreme Power for its American division.
4. French article – last Friday, the Spanish Government published a decree confirming the retroactive end of FITs for renewable. Producers will have to refund the money they earned since last July. Renewable capacity installed before 2005 will not benefit from any scheme any more, the rest of them will be guaranteed a 7.5% IRR. Lawsuits are to be expected. The government has also ended the priority given to renewable in the merit order, but this could violate European law.
5. Italian government is following in Spain’s footsteps by proposing retroactive FIT cuts for solar. PV systems owners could face 10% cuts. The draft law must be discussed within 60 days in the parliament.