Solar Markets & Finance News

Heelstone Renewable Energy LLC closes tax equity investment with Advantage Capital to fund four utility-scale solar projects with a combined capacity of 320 MW DC in Georgia, expected to power over 55,000 homes annually in late 2023 or early 2024.

L&G NTR Clean Power (Europe) Fund partners with NordLB to finance 3 Spanish solar projects, supplying power for 51,424 homes. Additionally, the Fund acquires a 6-turbine onshore wind project in Narbonne, France, with power for 5500 households. Working with LGIM to accelerate energy transition in Europe.

Enel Green Power (EGP) has signed a deal with INPEX Corporation to sell a 50% stake in its Australian subsidiaries for €400 million. The transaction will positively impact EBITDA in 2023 and net debt in the long run. EGPA's portfolio includes solar and wind projects, plus innovative retail and trading solutions. Closing is subject to clearance from authorities.

Trina Solar, a leading solar module manufacturer, has signed an 800MW supply deal with Aquila for PV panels to be used in Southern Europe. Projects are due for delivery in 2023 and 2024. More collaborations are possible in other markets.

Britvic and Atrato have signed a 10-year PPA for energy from a 28MW solar farm. 75% of Britvic's GB operations will be powered by the solar energy, and a CPPA in Ireland provides 100% renewable electricity for Ballygowan. The project is expected to be commissioned in 2024.

Solar module prices appeared to be at a bottom, with solar cell prices increasingweekly and wafer prices being cut by suppliers. Prices in 2023-24 are expected to rise beyond 22c/watt, signaling a market recovery.

Elgin Energy has sold a 100 MW PV portfolio of solar projects in UK to Pennon Group, estimated to require GBP 85 million investment. These projects are projected to generate low-cost electricity and contribute to UK's net-zero emissions by 2050. Also, Elgin sold 521 MW of solar & 70 MW of battery projects in 2020, to be operational by 2025.

Energiekontor has reached financial close on a 60MW solar park in Brandenburg, Germany, with construction starting in Q3 2024 and 68GWh of green electricity generated in its 1st year of operation. It also has the option to develop solar parks with a total capacity of 225MW in Germany and France.

Iberdrola and Vodafone have signed three Power Purchase Agreements (PPAs) to supply Vodafone with 410GWh of solar generated electricity. These PPAs will help both companies reach their net-zero targets and provide energy security. Three solar plants will be built in Spain and Germany with a capacity of 56MW by 2024. Both companies are committed to finding more sustainable energy solutions.

CEE Group acquires a 103.5-MWp solar project from Ecorus Group in the Netherlands, increasing their solar portfolio to over 350 MWp. Fledderbosch solar park to be commissioned in 2022 with a 15-year fixed tariff under SDE++ support scheme. Ecorus responsible for EPC and first partnership between two companies.

Les Mousquetaires, a leading agri-food producer in France, have signed a 95 MWp photovoltaic PPA to supply electricity to 1,000 of their facilities. This is the second largest corporate PPA in France to date, and a major step towards their carbon footprint reduction goals.

First Solar Inc. secures USD 1 billion revolving credit facility from JP Morgan Chase Bank to finance expansion in India, Alabama, and Ohio. Facility enables company to open 3.4-GW DC production facility and R&D center, aiming to have over 20 GW DC of factories in 2026.

Duke Energy and Amazon have launched a 2-MW rooftop solar project in Northern Kentucky, providing clean energy to 400 homes and businesses. The project is part of Amazon's commitment to reach net zero carbon emissions by 2040. Duke Energy has three other solar sites in the region.

Ib Vogt has sold a 98MW portfolio of solar projects in Italy to French solar energy producer Rubis Photosol. This multi-gigawatt portfolio includes 10 PV and agrivoltaic projects in the Lazio region, two of which have reached ready-to-build status. With eight projects expected to reach RTB in the next year, this is Ib Vogt's first sale from its Italian portfolio. 380MW of additional projects are currently permitted.

Duke Energy agrees to sell its commercial distributed generation business to ArcLight, with an enterprise value of $364 million. Duke Energy to receive $259 million in proceeds to help achieve its goal of becoming a net-zero carbon company by 2050 with 30,000 megawatts of regulated renewable energy.