Dutch government invests up to €412 million in solar power

The Dutch government has announced the latest round of projects funded by the National Growth Fund, which includes investments of up to 412 million euros for so-called "circular solar panels".

The project, called SolarNL, aims to establish a solar module manufacturing industry in the Netherlands by sourcing components and machinery from Europe, with a focus on circularity and creating a sustainable supply chain. It's a complex joint venture led by a "steering committee" of Dutch researchers, politicians and investors who collaborate with academics at the Eindhoven University of Technology.

The project will develop three solar technologies in the Netherlands: silicon heterojunction cells, flexible perovskite foils, and "solar photovoltaic products" for buildings and vehicles.

The Dutch government said the National Growth Fund is an ongoing initiative of the Dutch government to invest in projects that "ensure sustainable profitability in the Netherlands". The fund will contribute at least 135 million euros to the project, and an additional 177 million euros if the project meets certain conditions, and one of the stakeholders behind SolarNL can apply to the government for a separate 100 million euro loan.

In SolarNL's own budget, it expects to receive 312 million euros from the fund, enough to cover 35 percent of its total budget, with the rest coming from private investors. If the project achieves all of its goals, the National Development Fund will cover its full costs, so stakeholders will be eager to ensure that SolarNL lives up to expectations.

The National Growth Fund has invested heavily in Dutch infrastructure projects, especially energy supply programmes. The government invested 4 billion euros in 18 projects in the round, part of a plan to invest 20 billion euros between 2021 and 2025 by the fund, which supports projects related to the circular development of batteries and subsidized charging stations proposal.

In fact, subsidy funding is a new aspect of financing this year, with projects being able to apply for direct government funding for the first time. The Dutch government wants to invest in energy infrastructure across the industry, so two projects have applied for direct subsidies: €44 million for the charging center project and €124 million for the green steel proposal.

The funding round is the latest Dutch commitment to solar. The government expects solar power generation in the country to jump from 18GWp in 2022 to 100-250GWp in 2050, and stakeholders are looking for ways to go beyond traditional solar modules to meet these targets.

Last month, figures from offshore classification society DNV announced that the Netherlands was looking to invest in floating solar power, with initial projects of 5MW and a potential 100MW to follow.