Solar Markets & Finance News

Solar is to leapfrog wind to become the undisputed top renewable energy source for US corporates greening their supply through 2030, according to Wood Mackenzie and US wind body AWEA.

The state-owned State Power Investment Corp Ltd has received a bid of 25 cents per watt for monocrystalline panels in a tender to procure 3.04 GW of PV module capacity.

The latest figures show the solar policy vacuum, and related dearth of demand in China earlier this year accelerated price reductions for cell makers. Although prices are expected to rebound in line with renewed thirst for solar in China, cell makers such as Tongwei are feeling the pain.

The fossil fuel giant announced the plan in its latest annual results. The company envisages rolling out electric vehicle chargers at its petrol and diesel stations.

The heavily-indebted Chinese BIPV manufacturer has warned the petition issued by the German lender to recover a disputed $6.27 million debt could threaten the survival of the business as it would halt a planned bail-out by Beijing.

US asset manager Ares Management Corporation announced on Monday that it has “made an investment” in US utility-scale solar investor Heelstone Energy.

US residential solar installer Sunnova reported a growing dealer network, more customers, new solar products and a larger geographical footprint in its first earnings release since going public.

The Australian supermarket giant will purchase more than 70% of the electricity generated by three solar power plants to be built and operated by Metka EGN outside the regional centers of Wagga Wagga, Corowa and Junee, in the state of New South Wales – the equivalent of 10% of the company’s national electricity usage.

The utility has revealed plans to invest roughly $3 billion in the construction of a 5 GW solar park across two to three locations in the Kutch region of the Indian state of Gujarat. In a separate announcement, the New Delhi-based group opened global bidding to build 1.2 GW of grid-connected solar capacity throughout India.

Australian Vanadium and Metrowest Power Systems have signed a non-binding memorandum of understanding to look at energy storage opportunities in Australia using vanadium redox flow battery technology.

Two subscribers who signed up to a 20% discounted shares subscription in mid June ended up yesterday paying almost the same percentage as a premium on the trading price of the stock.

The Chinese manufacturer is forging ahead with a new gigafactory despite a regulatory decision last year which halted its plans to raise a significant chunk of the costs by issuing convertible bonds. Risen expects to be back on the upswing when it confirms its first-half figures.

Australian banking and financial services giant ANZ has extended its collaboration with Sydney-based Clean Energy Finance Corp. via an additional $67.7 million financing commitment to help the nation’s businesses cut energy costs and reduce carbon emissions. The bank is also offering financial discounts for upgrades and new investments in solar PV, energy storage, electric vehicles and other technologies.

Troubled thin film manufacturer Thin Film will see a 51% controlling stake in a hugely profitable hydropower project auctioned off after a move by creditors. Hanergy Thin Film owner Li Hejun’s Hanergy Mobile Energy business in China says it will be among the bidders.

The Australian subsidiary of mining manufacturer Molycop has clinched a 10-year solar-wind power purchase agreement (PPA) with Melbourne energy retailer Flow Power, in a deal that supports the development of a 120MW solar project in New South Wales (NSW).