Solar Markets & Finance News

Cox Energy of Spain has won a reverse power auction in Guatemala, securing 38.41 MW of solar generation to invest USD 32 million and supply 106.0 GWh annually for 15 years. PEG plan received bids for 1,500 MW.

Solar installations to reach historic high in 2023 with 270 GW of new capacity. China to remain leader in panel manufacturing while US sees boom in utility & residential solar. UK to lead in residential solar, Romania in distributed projects. Solar LCOE falling; 330 GW capacity by 2032.

Matrix Renewables, a TPG-Rise backed company, acquires controlling interest in 200MWac/261MWdc solar project in Idaho. Output to power Meta's data center and will contribute to its goal of 100% renewable operations. Construction expected to begin Q3 2023.

SMA America's Home Energy Solution provides grid stability and cost savings for homeowners, as well as modular design and easy upgrades for installers. The intuitive SMA 360° and Sunny Portal apps keep homeowners and installers connected for control and peace of mind.

Uruguay is capitalizing on its renewable energy infrastructure to become a regional leader in green hydrogen. Investors are developing 7 green hydrogen projects, including a $4 billion synthetic gasoline plant. Uruguay's $8B investment in renewable power infrastructure is powering its growth in the renewable energy sector.

Solar energy is expected to reach record levels this summer in Europe, but the EU must take steps to ensure photovoltaic investment and prevent solar power curtailment. Suggested measures include accelerating permitting on electric grids, promoting hybrid projects and cost-sharing by fossil generators.

Actis' BTE Renewables has secured MIGA guarantee for its equity investments in 75-MW South African solar power plant awarded in Round 3 of REIPPP. BTE Renewables, owned by UK growth markets investor Actis, specializes in utility-scale wind and solar projects across Africa and has been sold to French utility Engie SA and Meridiam.

RWE and PPC invest in 280 MW solar park in Greece. Project expected to provide clean energy to region by the end of 2021 with PPC purchasing the entire output in 15 year PPA. Partially funded by the Greek RRF and 3 local banks with shareholders' equity. Part of 2 GW of large-scale solar projects.

Alternus Energy acquires 32MW solar project in Tennessee, US, to generate $2.3m in annual revenue. 30-year power purchase agreements with two regional utilities ensure project's success, with tip of the spear CEO Vincent Browne expecting it to be operational for the 1st quarter of 2025.

RWE and PPC joint venture Meton Energy have made the final investment decision to build 3 solar projects totalling 259MW in northern Greece. Construction set to start in autumn 2021, with projects due to be operational by 2024. €196m investment provided by EU funds, finance from Alpha Bank, Eurobank & NBG, plus €39m in equity. Meton Energy & RWE developing solar farms with capacity up to 2GW in Greece.

Trina Solar has supplied 463.18 MW of Vertex 580 W modules with 210R technology to two hybrid hydro-solar power plants in Sichuan province, China. On July 7, Trina Solar led the standardization of module dimensions, providing comprehensive solutions to support the PV industry's growth and advance towards a net-zero future.

The Biden Administration has proposed modernizing solar permitting rules on federal lands to accelerate environmental reviews & encourage early public engagement, reducing delays & pollution in underserved communities - part of the President’s Permitting Reform Agenda.

Solar financing company Bright, funded in part by Leonardo DiCaprio, raised USD 31.5m to help customers reduce costs and automate workflow. Founded in 2014, Bright has installed over 30MW of solar and serves 4,700 customers.

Prosolia Energy secures €255 million debt financing from US investor EIG, to rapidly expand solar energy activities in Western Europe. Finergreen advises Prosolia as they increase their influence in the solar energy industry.

Encavis and Badenova form new company, Encavis Energieversorger I GmbH, to invest EUR 200 million in renewable energy projects, with a portfolio of 500 MW wind and solar systems. Open to more partners to reach 1 GW by 2035.