Solar Markets & Finance News

ACWA Power has reached financial close on two solar projects in Saudi Arabia with a combined capacity of 2.6GW. Investment totals US$2.37bn and commercial operations will begin in 2025, providing clean renewable energy as part of Saudi's National Renewable Energy Program.

Power Roll has secured an investment of £1 million to expand their patentedMicrogrooves technology andcommercialize their affordable and efficient flexible solar film worldwide. Their solar film can produce cost-effective electricity for a variety of applications.

US Commerce Department's 17-month probe is set to rule on trade practices related to Chinese-made solar equipment. Sanctions could include antidumping and countervailing duties up to 254% next June, impacting US clean energy growth and job opportunities. Ruling may also affect domestic manufacturers and treatment of silicon wafers used for solar cells and modules.

Greenbacker Renewable Energy Company LLC secures USD 75 million to expand investments in solar, solar-plus-storage and stand-alone energy storage projects. Expansion to USD 250 million possible. Latest project is a 30-MW/120-MWh battery energy storage system in California.

Enel SpA's plan to sell a 50% stake in its Australian renewable energy business to Inpex Corp has been approved by the European Commission. The deal is worth EUR 400 million, with EUR 140 million in debt. Enel Green Power Australia currently operates three solar farms and is building 170 MW of wind and solar parks. This sale is part of Enel's strategy to reduce net debt in 2023-2025.

Trina Solar and Voltalia have partnered to build Karavasta Solar, a 140MW solar project in Albania. Funded by EBRD, the project is expected to generate electricity and employment to the local community, with 1% of the total investment going towards social initiatives.

NorSun has raised 8.6 million dollars to fuel its growth projects in Europe and the US. Statkraft Ventures, Ardal Energi, Nysno Klimainvesteringer, and more, have subscribed to the capital. NorSun plans to build a 5GW production facility in the US and 3GW expansion in Årdal, Norway, funded in part by the EU Innovation Fund.

CIMIC Group's unit Pacific Partnerships acquires rights to develop 300-MW DC solar project in Queensland, capable of providing power for around 100,000 average-sized homes. Juan Santamaria notes Queensland is strategic focus for their diversified energy and utilities portfolio. Engineering, procurement and construction to be managed with an aim to commission in 2026.

BayWa r.e. demonstrate their commitment to Australia’s solar industry with the launch of their new solar portfolio. A comprehensive range of solar solutions for all needs.

Portuguese energy firm Greenvolt Energias Renovaveis SA announces its intention to acquire majority stakes of Spanish solar firm Iberica Renovables SL. Financial details and the amount of shares to be acquired remain undisclosed. AdC is currently reviewing the deal. Comments must be submitted within 10 business days.

Voltalia has opened a new office in Tirana, Albania with 23 employees to support local growth. The office will provide turnkey solar plant construction services and develop PV and wind projects, including the 140 MW Karavasta solar farm in Fier. Operational in 2023, the farm is backed by a EUR 29 million loan from EBRD.

Antaisolar secures a 470MWp solar tracking systems deal in Uzbekistan, delivering its TAI-Simple single-axis 1P tracking system with 18.5%-24% power output increase. This is the largest solar tracker award in Central Asia, with 25.4GW of cumulative solar racking shipments. Uzbekistan is aiming to reach 25% renewables by 2026.

Caelux, a solar technology company, secures $12 million in Series A3 funding to expand their factory, conduct research, and launch their revolutionary solar product, Caelux One, with the potential to exceed 30% efficiency and meet market requirements.

Xcel Energy (NASDAQ:XEL) launches RFP to replace coal-fired power plant in Wisconsin with 650MW of solar-plus-storage projects to generate electricity for 135K homes and reduce CO2 emissions by 85% by 2030. Explore potential future uses of plant site after shuttering.

Servotech Power Systems announces $36.2m investment to set up EV charger factory in Uttar Pradesh, India, generating up to 500 jobs and 10,000 EV DC Fast chargers per year.