Solar Markets & Finance News

The Chinese-Canadian manufacturer reported a 1% decrease in sales in the third quarter, with net profit falling 19%, to US$55.2 million. Quarterly shipments were up significantly year on year, from 1.59 GW in July-to-September last year to 2,387 MW this time around. The company expects to ship up to 8.5 GW of panels and achieve turnover of up to US$3.16 billion this year.

A few Chilean major banks have united to support a bifacial PV system in Northern Chile's Atacama Desert, currently being constructed in the area listed among the planet’s driest inhabited places.

Last Wednesday, Rheinisch-Westfälisches Elektrizitätswerk stated concluding a 30-year-long purchase agreement to supply solar power generated at the 195MW Broken Spoke solar station to Georgia Power.

McDonald’s signed two purchase agreements for 380 megawatts of renewable energy total capacity. The fast-food company is going to buy power produced by Aviator Wind as well as a large-scale solar project. Both facilities are located in Texas.

LA is rushing to renewable energy. The city has just approved a contract with a 25 year term to get powered by a solar plant in Kern County. The project is being implemented in the framework of the Global Green New Deal.

EDP Renewables, a Spain-based energy company, via the subsidiary in North America along with Shell Energy signed an agreement, with a term of fifteen years, for a 200-megawatt power system – Sandrini Solar Park.

Asian Development Bank allocates a grant for the country in South Pacific to help it reach its goal to become fully renewable in 2025.

Univergy International headquartered in Spain and Japan is planning to invest over $200 million in two photovoltaic projects in Zambia.

The Chhattisgarh State Renewable Energy Development Agency (CREDA) has issued two tenders for the supply and installation of 5,000 small solar irrigation pumps and 700 solar trees in the state.

The major string solar inverter supplier is going to focus on large-scale solar projects development along with engineering, procurement, construction and commissioning in China

Insolvency proceedings started against Solibro, formerly one of the major thin-film PV suppliers in Germany. The creditors couldn’t invest the funds sufficient for the company’s restructuring. As a result, about 180 people will find themselves unemployed.

Two giants in financing and Indian power are collaborating on a clean energy microgrid operation they claim will deliver power to five million Indian households with 10,000 grids over the next decade.

The Canada Pension Plan Investment Board (CPPIB) has bought US developer Pattern Energy Group in an all-cash deal valued at around US$6.1 billion.

The Environmental Assessment Agency of Netherlands (Planbureau voor de Leefomgeving – PBL) promises that the country’s photovoltaic generation will grow by 5 GW by the end of the following year compared to 4.4 GW in 2018. Toward the end of 2023, the PV capacity is forecasted to be near 15 GW.

For third-quarter 2019, First Solar Inc of Tempe, AZ, USA – which makes thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services – has reported net sales of $547m, down 6.5% on $585m last quarter and 19% on $676m a year ago, due primarily to lower systems revenue from project sales in the USA, offset partially by higher module sales volume.