News Briefs Nov 28- Indonesia’s 75 GW RE target, KKR Acquires Encavis, SolarZero Drops to Zero

news in briefs in renewables

Indonesia Plans 75 GW of RE By 2040

One of the few bright spots from the G20 meet meet in Brazil was the announcement by Indonesian president Prabowo Subianto, of a 75GW renewable energy capacity target for the country. Solar is expected to be a key part of this 75 GW target, which will also include Wind, Hydro and Geo thermal energy possibly. In recent months, firms have pushed to establish solar manufacturing facilities in the Island archipelago, ranging from Thornova’s module plans, to the 5 GW ingot to module plans of  SEG Solar.

KKR Acquires 

Private equity investor KKR has acquired German green energy developer Encavis. After a deal initiated in March this year with the sale of a 31 percent stake to the eventual buyout group. Encavis operates in 12 Eiropean countries.

KKR led a consortium of investors via a holding company, Elbe BidCo, to acquire 87.41% of outstanding shares in Encavis at €17.50 (US$18.40) per share. Family-run investor Veissmann Generations Group and ABACON Capital are the other two parties in the consortium.

SolarZero, New Zealand’s Largest Solar Provider, Hits Zero

Blackrock owned SolarZero has announced going into liquidation in New Zealand. The firm was the largest provider of solar and energy storage solutions in the country, claiming a market share of 40% with over 15,000 customers as recently as August this year. Started in 1970, the firm was known for starting New Zealand’s first solar subscription service, making the technology more accessible and affordable to households around the country. The company had also developed and operated what it claims to have been Australasia’s largest VPP using its proprietary smart battery and energy management platform.