How will Europe's Solar EPC market grow?
The Europe’s efforts in reducing the greenhouse gas emissions and shifting towards renewable energy sources are increasing the demand for solar energy investment. The adoption of hybrids solar systems, which integrate other renewable energy sources along solar PV, will fuel the Europe solar EPC market growth.
Will EPC contracts provide for the handover of a solar facility?
EPC Contracts will not provide for the handover of the solar facility to the Project Company, and the PPA will not become effective until all commissioning and reliability trialling has been successfully completed.
Should you choose an EPC contract for a solar project?
Given the significant monetary value of EPC Contracts, and the potential adverse consequences if problems occur during construction, the lowest price should not be the only factor used when selecting a Contractor. As noted earlier, an EPC Contract is one of a suite of agreements necessary to develop a solar project.
How will the EPC market evolve in the future?
Encouraging governmental policies, constant technological development, as well as economic incentives and social acceptance towards renewable energy will propel the market landscape. Increasing focus on EPC processes’ sustainability, such as green materials’ usage is likely to enhance the market.
Who are the key players in the European Solar EPC market?
Key players operating in the Europe solar EPC market include: In January , BELECTRIC entered in an agreement with Novar to build the largest solar photovoltaic plant in Netherlands. Spanning 330 hectares, the 189 MW plant is the largest PV Power Plant in Europe with everything put together.
What are the disadvantages of an EPC contract?
Another major disadvantage of an EPC Contract becomes evident when problems occur during construction. In return for a guaranteed price and a guaranteed completion date, the Project Company cedes most of the day-to-day control over the construction.
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