The partnership was formed last year to develop renewable energy generation in Europe. The company believes it is in a good position to embrace the opportunity represented by a promised major green investment agenda as Europe works its way out of the pandemic. Tayan manages an integrated process, from co-development of the projects, through financing to construction and operation of the solar parks. The total investment for this phase will be around 700 million euros.
Construction in all three markets will commence in the first quarter of 2021 with a range of renewable energy and storage projects in the UK currently under negotiation.
Tayan Portugal has partnered with Inovolt and is co-developing 650 MW projects. The first 300 MW mega project is planned for construction early next year. This includes 15 MWh of energy storage.
Tayan Italy has partnered with Limes Renewable Energy, one of the leading Italian renewable energy developers. The first 55 MW of projects developed by Limes have been recently acquired by Tayan and both parties are co-developing an initial joint pipeline of further 330 MW.
Tayan Spain has partnered with Isemaren and placed 50 million euros of grid deposits. To date Tayan has 400 MW with grid confirmed heading towards RTB and a significant pipeline in progress.
“This represents the first phase of the JV’s objectives and we are pleased with progress so far” said Andrew Macdonald, Tayan joint CEO. “Tayan is now concentrating on solar PV and battery energy storage hybrid models. We are considering various storage projects in the UK which is the most developed market in Europe and template for the future”.
Miguel Domenech, Tayan joint CEO, added that there is now going to be a really big push for renewables in Europe and that the company is in a good position to embrace this opportunity.
The Tayan partnership represents one of Shanghai Electric’s most strategic joint ventures as both investor and operator in the European and UK markets. The firm, which is listed on the Hong Kong and Shanghai stock exchanges, employs 47,000 globally.
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