Legislative revision designed to cool overheated PV market

A legislative revision whose ratification will require RES investors to provide letters of guarantee worth 35,000 euros per MW for producer certificate applications concerning projects of more than 1 MW, the intention being to desaturate solar energy market capacity clogged up by excess applications not being followed through by investors, will be submitted to parliament either today or tomorrow.

Making letters of guarantee worth 35,000 euros per MW mandatory for investors means that a PV project with a planned capacity of 50 MW, for example, will require its investor to forward a sum of 1.75 million euros.

The RES market, especially its solar energy sector, is seen as an overheated market, prompting authorities to take action that will decongest and hasten the licensing procedure.