Q Energy a Berlin based renewable energy firm has got €50 million fund for executing its operations and programs. A floating PV project whichis to become Europe’s largest floating solar power project is to be developed on 127 hectares of former gravel pits, the water surface of which has been utilized for industrial purposes before. By incorporating these areas into a renewable energy precinct the project demonstrates how it is possible to deliver solar energy in conjunction with other land uses on the same area without the need to take up more of the agricultural or other productive land or natural habitats.
Project factsheet
- Contractor: Q Energy – A Berlin based renewable energy company – has raised €50. 4 million to finance the way to building the largest floating solar power plant in Europe, located in France.
- Location: The floating solar project will be situated in an ex-gravel pit with water body having an area of 127 hectares in Haute-Marne department in northeast France.
- Capacity: The plant, when established will have a production capacity of 74.3 MW of clean energy . The successful case for floating solar photovoltaic system is 3 MW, with 134086 solar modules deployed on the floating PV structure.
- Energy Supply: When functioning, it will be able to generate 110MW, enough to supply electricity to 37 000 families.
- Construction Timeline: The project under construction from the initial stage and it will be completing by the first quarter of 2025.
Scarcity of water bodies is one of the major factors that speak for floating PV projects and their effective application. Compared to the standard solar power plants, the floating PV system feels the cooling effect from the water which in turn optimizes the performance of the stations and the production of the energy produced. Furthermore, these systems can minimize water evaporation from the reservoir and ponds and thus help in water conservation over dry regions.
The source of funding for the project is of equity and debt and this has been fostered by Q Energy which has borrowed financing from several financial institutions and partners. This investment shows believe on future of renewable energy technologies especially on new technologies like floating solar power technology.
Scope
Besides, the project will help France to achieve its objectives such as decreasing carbon emissions and the utilization of renewable energy resources in the country’s energy sector. Floating PV systems, especially, are considered as a perspective remedy for land constrained regions throughout Europe which experience difficulties in finding sufficient territory for large utility-scale solar deployment.
Being a trailblazing company, Q Energy’s floating PV facility will become a landmark of the renewable energy sector after it begins to function. It overviews the possibilities that can be achieved through the application of small water reservoirs as sources of energy needs for development, which are sustainable in nature. In this process, technologies such as the above stated innovations will be vital to meet the climate change aims in the European region.
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