EEW steps into the Swedish PV market to install 500 MW
Post date: 12/11/2020 - 11:51
London-based Eco Energy World (EEW), an international developer of utility scale solar projects, announced that the Group is entering the Swedish solar market with plans to develop and construct 500 MW of subsidy free projects over the next three years. EEW has recently hired Travis Woodward to head up its new operations in Scandinavia. The Group will utilize single axis trackers and high efficiency bifacial modules.
57 percent of Sweden's installed renewable energy is coming from hydro and wind. As PV solar costs have come down 90 percent in the last ten years, »an increasing amount of markets are now able to introduce solar without subsidies,« says EEW. The levelized cost of energy (LCOE) for PV solar is currently at $28 to $35/MWh, with this cost continuing to fall. »That makes solar energy more cost effective than coal, gas, and even wind.« EEW expects at least 10 percent of the Swedish market or approximately 16 GW to be solar over the next ten years, an equivalent to €11 billion ($13 billion) investment.
According to the company, during the last 10 years the Group has installed 1.3 GW in Europe and Australia.