Solar Markets & Finance News

A standalone Investment Tax Credit (ITC) for energy storage in the US holds the potential to be more immediate and impactful than any other policy, the head of the US national Energy Storage Association has said.

DE Shaw Renewable Investments has purchased two neighbouring PV projects in Utah contracted to provide power to Facebook from developer First Solar.

The UK’s opposition Labour Party has pledged to almost treble the country’s solar PV capacity, taking it to 35GW by 2030.

Tesla reported a bounce back in solar installations in the third quarter of 2019, while energy storage installs reached a new record high. The company is also launching a third-generation residential roof system ahead of a volume production ramp.

Distributed Solar Development (DSD), a business backed by BlackRock Real Assets’ Global Renewable Power platform and GE Renewable Energy, has closed on a US$250 million fund financed by Morgan Stanley, Silicon Valley Bank and Fifth Third Bank that will be utilised to fund a portfolio of distributed generation projects through 2020.

D. E. Shaw Renewable Investments (DESRI) announced it has acquired First Solar’s Cove Mountain and Cove Mountain 2 projects in Iron County, Utah. The acquisition of the two projects, the sales of which were previously disclosed by First Solar and which total 180 MWAC in capacity, nearly doubles DESRI’s portfolio of First Solar-developed projects to over 360 MWAC.

The Italian fossil fuel company is not hanging around when it comes to diversifying into PV, with almost 1.5 GW of generation capacity plugged in since the start of last year.

The nation’s Central Procurement Board, on behalf of utility NamPower, has announced a tender to select an engineering, procurement and construction services contractor.

Lightsource BP has signed financing agreements to develop its maiden utility-scale solar project in Australia.

Sofdesk, parent company of end-to-end solar software provider Solargraf, has acquired solar sales proposal platform Energy Periscope. On Oct. 21, Solargraf announced its lead generation business would be acquired by Wave Solar.

The central Asian nation and the International Finance Corporation have signed a mandate to develop up to 900 MW of solar capacity through public-private partnerships.

Renewables may be making encouraging advances in the south Asian nation but the natural gas infrastructure deal announced today by the Saudi power company at a stroke eclipses the 375 MW of solar capacity in Bangladesh and its 609 MW development pipeline.

With power production up 133% year-on-year, revenues and EBITDA also rose significantly.

Developers have until November 18 to submit bids for projects anywhere in India. The projects are to be set up on a develop, build, demonstrate and transfer basis.

More than 200 mayors across the US have sent a letter urging Congress to pass a five-year extension of the solar Investment Tax Credit (ITC) with a particular focus on creating jobs and drawing investment.