Published on 07th January 2022
In 2022, Europe is all set for impactful wind and solar energy projects. These projects are receiving more funding than ever before, with the renewable energy sector holding great promise for clean, green energy and sustainable economic growth. The world’s leading renewable energy companies are working closely with various governments to move away from fossil fuels and tap into green energy sources for affordable and reliable solar and wind power. Here are the top 10 new upcoming renewable projects in Europe:
Project Type: Greenfield
Project Sub-Sector: Wind
Project Owner: Ørsted A/S
Estimated Project Value: USD 3,000 million
Estimated Year of Completion: 2025
Ørsted A/S, the global leader in offshore wind power, plans to construct a 2,400 MW Hornsea Three Offshore wind farm in the North Sea, located approximately 121 km off the Norfolk coast. In 2015, Ørsted acquired the rights to develop the Hornsea Zone from SMart Wind Ltd. In November 2021, Ørsted signed a USD 353-million agreement with SeAH Wind Limited (SeAH) to supply monopiles for the offshore wind project in the UK.
Hornsea Three includes an offshore array area of up to 696 km2 with up to 231 wind turbines. The project includes the development of effective environmental compensation measures for a net zero-carbon future. Upon completion, the Danish clean energy group’s wind farm will boost UK’s offshore wind capacity and generate green electricity, sufficient to meet the average daily needs of well over 2 million households.
Project Type: Greenfield
Project Sub-Sector: Wind
Project Owner: OX2 Group AB
Estimated Project Value: USD 2,500 million
Estimated Year of Completion: 2026
In 2021, OX2 Group AB (OX2) applied for a Natura 2000 permit to construct a 1,700 MW Galatea-Galene offshore wind farm in Kattegat, Halland County, Sweden. As part of its Swedish project development portfolio, OX2’s Galatea-Galene project would consist of 101 turbines with a maximum height of 340 meters. The project is divided into two sub-areas: Galatea, located about 25 km outside Falkenberg, and Galene situated about 25 km outside Varberg.
OX2 specializes in “developing sustainable and profitable large-scale energy solutions.” Upon completion, the project will provide a significant amount of renewable electricity to southern Sweden, meet Sweden’s environmental goals, and generate several job opportunities. The Swedish industry, businesses, households, and the labor market will benefit from the wind farm with a planned production capacity of about 6-7 TWh (terawatt-hours) per year.
Project Type: Greenfield
Project Sub-Sector: Wind
Project Owner: Ørsted A/S
Estimated Project Value: USD 2,400 million
Estimated Year of Completion: 2029
Ørsted A/S plans to construct a 1,000 MW Hornsea Four offshore wind farm in the North Sea, approximately 69 kilometers off Flamborough Head on the Yorkshire Coast. Headquartered in Denmark, Ørsted is one of the world’s most sustainable energy companies. In 2015, Ørsted acquired the rights to develop the Hornsea Zone from SMart Wind Ltd., which was originally awarded the zone in the UK Round 3 offshore wind auction.
Hornsea Four includes an offshore array area of up to 468 km2 with up to 180 wind turbines. As a Nationally Significant Infrastructure Project (NSIP), Hornsea Four will generate enough electricity for thousands of UK homes. The project is being developed with a thorough consultation on the project plans and is an extension of Ørsted’s vision of “creating a world that runs entirely on green energy.”
Project Type: Greenfield
Project Sub-Sector: Wind
Project Owner: RWE AG
Estimated Project Value: USD 2,360 million
Estimated Year of Completion: 2027
RWE AG, a global renewables and offshore wind company, plans to construct a 1,000 MW Thor offshore wind farm in Denmark. The new offshore wind project is named “Thor” after Thorsminde, a fisher town in Denmark and the nearest village on the shore. The Thor offshore wind farm is the first of three large offshore wind farms to be built in Denmark before 2030. A fully operational Thor wind farm would produce enough electricity to power 1.4 million Danish homes.
In May 2020, Energinet conducted geophysical, geotechnical, and biological surveys. In September 2020, the Danish Energy Agency (DEA) launched the tendering process for the Thor offshore wind project. While Metocean reports were published in November 2020, an environmental impact assessment (EIA) permit for a land-based project was obtained in August 2021. In December 2021, RWE secured the concession to build the wind farm that would accelerate Denmark’s green energy transition.
Project Type: Greenfield
Project Sub-Sector: Solar
Project Owner: Fintel Energija
Estimated Project Value: USD 384 million
Estimated Year of Completion: 2026
The renewable energy company Fintel Energija (FE) and agribusiness MK Group (MK) plan to construct a 660 MW Agrosolar Kula solar plant in the municipality of Kula in Serbia’s Vojvodina province. The Agrosolar Kula project will install Europe’s largest solar power plant and include the simultaneous production of electricity from solar energy and organic crops produced in seven zones under the solar panels.
The first agro-solar project in Serbia and the Balkans has an expected annual production of 832 GWh of green energy that will be sufficient for 20,000 households. The pioneering solar plant utilizes the innovative application of solar panels and vegetation for the sustainable development of agriculture and renewable energy production. Agrosolar Kula will also reduce CO2 emissions and water consumption for irrigation.
Project Type: Brownfield
Project Sub-Sector: Solar
Project Owner: Island Green Power
Estimated Project Value: USD 900 million
Estimated Year of Completion: 2026
Island Green Power, a leading international developer of solar photovoltaic plants, plans to build a 600 MW Cottam solar power plant on a Cottam coal site in the United Kingdom. In December 2021, the Office of Gas and Electricity Markets (Ofgem) granted an electricity generation license to the company. Classified as a Nationally Significant Infrastructure Project (NSIP), it required development consent from the UK energy secretary.
In recent years, mega-sized solar projects are being developed with consent at the NSIP level in the UK. In an effort to generate renewable and reliable energy, the plant will be connected to the Cottam Power Station owned by Électricité de France S.A. (EDF), a French multinational electric utility company. Island Green Power’s huge solar project will feature an energy storage facility and generate electricity for numerous homes.
Project Type: Greenfield
Project Sub-Sector: Solar
Project Owner: Iberdrola Group
Estimated Project Value: USD 266 million
Estimated Year of Completion: 2025
Iberdrola Group (IBE), a global energy leader, plans to construct a 505 MW Otero solar photovoltaic plant on 873 hectares of land in Castilla y Léon, along the municipalities of Marazuela, Marazoleja, and Anaya, in the province of Segovia, Spain. In January 2021, the company applied for regulatory approval for the solar power plant. The solar facility is Europe’s second-largest photovoltaic plant that will be a source of pollution-free electricity.
Iberdrola continues to reinforce its leadership in the development of high-capacity renewable projects. Upon completion, the plant will generate enough clean energy to meet the supply needs of 290,000 homes and prevent the emission of 182,000 tonnes of CO2 each year into the atmosphere. The project will boost the local economy and generate many employment opportunities. Industrial suppliers, workers, and landowners will benefit from the project that will take energy transition forward in the region.
Project Type: Greenfield
Project Sub-Sector: Solar
Project Owner: De Vrije Wind
Estimated Project Value: USD 428 million
Estimated Year of Completion: 2024
ATP Palloneva Oy (ATP) plans to construct a 500 MW solar photovoltaic plant on a land of 500 hectares in Palloneva that is 280 km northwest of the capital, Helsinki, Finland. The project is being developed by the special purpose vehicle (SPV) ATP Palloneva Oy, which comprises De Vrije Wind (DVW) and Finnish companies Kaskisten Tuulivoima Oy (KTO) and Kauhanummi Oy (KO), owned by Jaakko Leppinen and Marko Nummijärvi, respectively.
De Vrije Wind supports the development of wind farms in keeping with cooperative and/or participation models. Finland is recognized globally for promoting renewable energy sources and reducing greenhouse gas emissions. The international consortium’s solar project will turn abandoned peatland into a massive solar park in southern Finland. As the project will be located in a wetland area, cost-effective solutions are being developed to effectively deal with the soft surface challenges.
Project Type: Greenfield
Project Sub-Sector: Solar
Project Owner: Elektrani na Severna Makedonija
Estimated Project Value: USD 490 million
Estimated Year of Completion: 2026
State-owned power utility, Elektrani na Severna Makedonija (ESM), plans to construct a 350 MW solar power plant in Shtip, North Macedonia. The biggest solar photovoltaic facility in the country is being constructed on the land earlier meant for a cargo airport in Shtip. The government advised ESM to conduct a feasibility study and technical, financial, and economic analysis and appoint a consultant to prepare tender documents.
Due to its geographical location and climate, North Macedonia has abundant potential for renewable energy and provides ideal conditions for solar energy production. Replacing coal plants with solar power plant projects is a futuristic initiative to provide clean, green energy to the region. The much-needed energy transition push is strengthening the government’s efforts to shift to renewable energy sources.
Project Type: Greenfield
Project Sub-Sector: Solar
Project Owner: Windel Energy
Estimated Project Value: USD 490 million
Estimated Year of Completion: 2026
Windel Energy (WE) and Canadian Solar (CS) plan to construct a 350 MW Mallard Pass Solar Farm on 880 hectares of land in South Kesteven, Lincolnshire, England. Windel Energy specializes in renewable energy projects and low-carbon disruptive technologies. Canadian Solar is one of the largest solar photovoltaic products and energy solutions providers as well as solar power plant developers. Upon completion, the project will have the potential to power nearly 92,000 homes.
The project will include appropriate environmental mitigation and enhancements relevant to the local area. The proposed solar farm will help deliver reliable and sustainable low-cost energy to the region looking to decarbonize its electricity systems. Although the exact technology and type of solar arrays are yet to be decided, the project will include typical solar project components such as fencing, solar panels, inverter (DC to AC power converter), energy storage, substation, and underground cables.
This is part of our Global Project Tracker, Solar Intelligence Hub, and Wind Intelligence Hub. For more details about our services, get in touch here.
