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Hyperion Renewables Secures Major Investment to Boost Renewable Energy in Portugal

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BNN Correspondents
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Hyperion Renewables Secures Major Investment to Boost Renewable Energy in Portugal

In a significant development for the renewable energy sector, Portuguese developer Hyperion Renewables has secured a substantial investment of EUR 140 million (USD 153m) from French sustainable investment manager Mirova, an affiliate of Natixis Investment Managers. This investment will propel Hyperion's progress in its transition from a developer to an independent power producer (IPP) based in Iberia. It will particularly fuel the initial deployment of 3.4 GW of Hyperion's current pipeline which encompasses solar, wind, storage, and green hydrogen projects, primarily located in Portugal.

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Hyperion's Track Record and Future Goals

Established in 2006, Hyperion has a strong portfolio, having developed over 640 MW of solar projects that have reached the ready-to-build stage. Among them, more than 370 MW have been connected to the grid, including 270 MW in Portugal. The company's track record and its collaboration with Mirova, which dates back to 2018, when Mirova acquired a 90% stake in Hyperion's 28-MW PV Vale de Moura solar project in Portugal, vouch for its potential in the renewable energy sector.

The Impact of the Investment

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The solar farm, which has been operational since 2019, was the first Iberian project with a long-term 10-year pool power purchase agreement (PPA), sealed with Axpo. The investment from the Mirova Energy Transition 5 (MET5) fund, pending approval from the Portuguese competition authority, is set to provide a significant boost to Hyperion's growth and its mission to transition to an IPP.

Solar Energy Growth in Serbia

In a parallel development in the renewable energy landscape, Serbian company DoMi Eko Solar is set to roll out 25 solar panels per hour at its 150 MW/year production line, installed by Ecoprogetti. The town of Velika Plana in Serbia now hosts the country's first solar panel manufacturing line. This development is a reflection of the growing demand for solar energy in Serbia as it aims to expand its solar PV capacity to 8.3 GW by 2024 under proposed economic reforms, a significant jump from 137 MW at the end of 2022, according to the International Renewable Energy Agency (IRENA).

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