Solar Markets & Finance News

Swift Current Energy completes financing on 800-MW Double Black Diamond Solar project to generate power to serve over 100,000 homes in the MISO area. Constellation to buy portion of power and RECs produced. McCarthy Building Companies Inc to serve as EPC contractor.

Discover how Italy is incentivising renewables and simplifying the permitting process for projects 10MW or larger, aiming to reach 131GW of installed capacity by 2030.

Masen is making strides towards their goal of 52% renewable energy by 2030, with the launch of a call for pre-qualification for the 400-MW Noor Midelt III solar power project and accompanying 400-MWh battery energy storage system. Interested parties have until October 20 to submit proposals for the competitive process.

Green Building Renewables has acquired Solar Voltaics, a solar panel installation and EV charging provider. This is the 8th acquisition for the company, increasing their annual turnover to £35 million. Solar Voltaics serves customers in Hampshire, Sussex, Berkshire, Surrey, and Dorset.

EDF Renewables North America and Canadian Solar announce multi-year agreement for 7GW of high efficiency solar modules. Canadian Solar to invest US$250m in Texas factory, creating 1,500 jobs and 5GW of annual output. Agreement aligns with IRA guidelines.

ACEN has increased funding for the 133.5-MWp Cagayan North Solar Power project in the Philippines, part of a larger scheme planned to be operational in 2024. The new loan agreement will help build up the country's solar energy capacity and provide clean and renewable energy for the Philippines.

Shell-backed Daystar Power is expanding its operations into South Africa to provide alternative power systems as demand increases due to record power cuts. Daystar plans to build up to 120 megawatts of solar power with 400 megawatts across Africa by 2025, targeting large-scale, bankable commercial and industrial users. An office is also opening in Tanzania.

Luminous Energy achieves financial close on 28.5MW Bracon Ash Solar Farm in Norfolk, UK, providing £10k/year for community projects, 203% biodiversity gain & in line with Net Zero targets. Belectric to build & maintain. TLT, CMS, Fichtner & WTW advised.

QIA acquires 2.5% stake in Adani Green Energy Ltd. for INR 39 billion, through its subsidiary INQ Holding LLC. Adani Green has 8.1 GW of capacity in its operational fleet with a goal to reach 45 GW by 2022.

South African investment firm STANLIB has acquired a 51% stake in energy solutions provider Solareff Ltd and its electric vehicle charging infrastructure subsidiary GridCars, committing to fund ZAR 600 million in capex-free energy solutions. This move seeks to make a social and economic impact in South Africa.

Nucor, one of the US's largest steel product manufacturers, has just signed a 250 MW solar PPA with NextEra Energy Resources. The Sebree Solar project will bring USD 20 million in tax revenue to Kentucky and Nucor will also provide steel for a second solar site in Meade and Breckinridge counties. Construction begins this autumn with commissioning due in 2025.

Absa Group provides USD-24-million corporate loan to construct a 100-MW solar power plant in Ghana led by West Africa-focused PV developer Meinergy Technology Limited. This loan supports Ghana's renewable energy capacity & energy needs.

Hungary is taking steps to boost economic growth and recovery, setting out plans to reduce investment costs and provide generous subsidies for renewable and green investments. Foreign Minister Peter Szijjarto said the government is committed to ensuring economic growth and green transition, but challenges remain.

Pattern Energy Group LP announces sale of its Japanese renewable energy assets and majority stake in Tokyo-based GPI to Japanese utility Jera Co Inc and NTT Anode Energy Corp. Portfolio includes 4 GW of wind projects and 6 GW of assets across North America. CEO Hunter Armistead focuses on growing pipeline in US.

AXA IM Alts to acquire 25% stake in Finerge, a 2GW renewables platform, to enable decarbonization and electrification investments in Portugal and Spain. Investment to be finalized by end of this year.