Solar Markets & Finance News

Octopus Australia and Indigenous groups sign agreement to co-own renewable energy projects, estimated to be worth up to AUD 1 billion. Agreement includes revenue sharing, co-ownership and skills training to reduce Australia's carbon footprint and provide employment opportunities.

ACEN and its partner agree to invest up to USD 100 million in a new joint venture. Read on to find out more about the exciting collaboration.

Latin America is becoming a key market for solar power. Sungrow, a leading inverter and energy storage system supplier, has achieved 15 GW of orders, largely driven by Brazil. The Company has introduced several innovations and is looking to capitalize on the expected upward trend in the region.

EiDF acquires 238 MWp of solar projects in northern Spain, including two large-scale projects with an EIS in place. Commitment to smaller-scale projects remains for commercial and industrial customers.

TotalEnergies SE and Ronesans Holding joint venture will enable TotalEnergies to become one of the leading players in the Turkish renewable energy sector. European Commission approves of this agreement due to its limited impact in EEA.

ACWA Power has closed financing for 200MW Kom Ombo solar project in Egypt, with $123 million of the total $182 million investment coming from international institutions. In January 2024, the plant will provide electricity to 130,000 households and help Egypt meet its 2035 goal of 42% renewable energy.

HASI and Summit Ridge Energy will partner to develop 250MW of community solar projects in Illinois and Maryland over the next two years. The projects will use US-made solar panels & 20MWh of energy storage from the Hanwha Group-owned Qcells. Investment tax credits and the Inflation Reduction Act will apply.

INVEX Controladora SAB de CV agrees to selling remaining stake in 216 MWp solar farm portfolio in northwestern Mexico for USD 50 million. Regulatory clearance needed and proceeds to reduce debt and make new investments.

Encavis AG has announced the purchase of a 12MW/24MWh battery storage project in Hettstedt, Germany. The energy storage system will be integrated into the grid in 2024 and will store electricity from Encavis' renewable power facilities, reducing the cost of balancing energy. Mario Schirru, Encavis' Chief Investment Officer, highlighted the new plant's ability to generate more revenue from their Renewable Energy. First half of 2023 results reported flat revenue and earnings per share.

Voltalia has successfully commissioned a 50.6 MW solar cluster in Portugal, reducing 46,685 tonnes of CO2 emissions annually. With long-term PPAs and an agreement with Renault, Voltalia is leading the way in renewable energy and looking to expand its presence.

Australia's Sunrise CSP and Engineers India Ltd have signed an MoU to collaborate on oil and gas projects in India, with single orders exceeding INR 300 million. CST technology will be used to provide industrial process heat, and the world's largest solar concentrator has been installed in Goraj. This partnership will help India reduce emissions and create energy solutions.

Spanish investment firm Asterion Industrial Partners has reached a EUR 2.6 billion deal to acquire German energy company Steag GmbH. The proposed transaction includes investment in renewable energy, new green job creation, and is expected to close by 2023.

ADB provides loan to India's Fourth Partner Energy to fund 25-MW solar park, increasing innovative renewable energy production to 50.7 GW/yr & reducing CO2 emissions by 41,700 tonnes/yr. India's open access renewable energy policy encourages international financing for decarbonisation.

Investors are pouring capital into the battery business, and lithium-ion producers like Northvolt are reaping the benefits with over $9 billion raised since 2017. Zeekr IPO will take Geely Holdings's EV maker valuation to $13 billion. Accure, Channel19, Electric Era, NaaS and Nickelytics have closed deals worth millions. Battery tech, EV makers and startups are popular investments.

FranklinWH Energy Storage Inc., a US residential energy storage systems (ESS) company, has raised USD 25 million (EUR 23.1m) in Series B funds. Particle Future led the round to enhance R&D, optimize supply chain, and expand operations and sales network. Franklin Home Power integrates solar, battery, grid and generator power sources. Founded in 2019 and funded by Sequoia Capital. Gary Lam says the new capital will make renewable energy options more accessible.