Solar Markets & Finance News

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.

Orange Romania Group and Engie Romania have signed a 6-year VPPA to provide 30GWh of solar energy per year. This helps Orange achieve their net-zero carbon goal by 2040 and 80% green energy level by 2021 in 6 countries.

European Energy unveils ambitious plans for the largest solar farm in the Baltics. Located in Anyksciai, Lithuania, it has a capacity of 65MW and will provide 24,000 households with clean energy when it is connected to the grid in Q4 2023. It will feature 140,000 solar panels and a total output of 90,000MWh per year.

Solar AI Technologies, a Singaporean startup, raises $1.5 million to make solar energy more accessible & affordable in Southeast Asia. Rent-to-own model for homeowners with monthly payments of $200, and maintenance/warranty coverage. Three times more web traffic than competitors. Expanding to Malaysia & Philippines.

Atea, an IT infrastructure supplier, has signed a 10-year Power Purchase Agreement with Better Energy to purchase 70GWh of renewable energy from their new solar project in Denmark. Atea shows their commitment to reducing carbon emissions and supporting clean energy technologies. Better Energy is excited to welcome Atea to their partnership.