Solar Markets & Finance News

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).

London-based renewables investor Actis has raised US$1.23 billion for a new investment fund destined for existing infrastructure assets in emerging markets, starting with its own 100MW PV plant in Chile.

Mosaic, a provider of solar financing solutions for homeowners, has announced a strategic loan origination partnership with SunTrust Bank.

Novasec announced the launch of a new investment platform that connects investors with unique opportunities in the fast-growing renewable energy sector. Through a careful project selection process, Novasec’s platform combines the renewable energy sector with digital securities, providing investors the potential for lower-risk, competitive returns.

The collapse in business for the solar EPC provider after last year’s 5/31 policy announcement by Beijing has left the company’s future depending on the progress of a Chinese state bail-out. Provided that is, the business does not end up being wound up by Deutsche Bank first.

AC Renewables, the energy arm of Philippines’ Ayala Corp, and Australia’s UPC Renewables have agreed to buy 51% in a 250 MW pumped hydro project and a neighboring 300 MW solar project, both located in South Australia.

Solar Module Super League’ (SMSL) member, Canadian Solar plans to increase module assembly capacity to 12,220MW in 2019, an increase of 1,000MW on strong demand.

Atlas Renewable Energy has landed a long-term PPA agreement with utility Engie Energía, which will help support the development of a 230MW-plus solar farm in Chile.