Israel-based Ellomay Capital has gained funding approval from the European Fund for Strategic Investments for its 300 MW Talasol solar project in Spain. The subsidy-free scheme will cost about €200m ($235m), Ellomay said in January. When Talasol, in Talavan, Caceres province, starts operations in 2020 it will sell all of its power to the spot market, partly protected by a hedging mechanism. In Germany, SolarCity is building an 850-megawatt (MW) plant at Hambach near Düsseldorf that will be able to produce electricity on demand and can also store excess energy during peak hours.
Israel-based Ellomay Capital has gained funding approval from the European Fund for Strategic Investments for its 300 MW Talasol solar project in Spain. The subsidy-free scheme will cost about €200m ($235m), Ellomay said in January. When Talasol, in Talavan, Caceres province, starts operations in 2020 it will sell all of its power to the spot market, partly protected by a hedging mechanism. Ellomay said it had secured a binding term sheet with an unnamed international hedge provider, covering between 3,500 and 3,700 GWh power over 10 years.