Solar Markets & Finance News

President Joe Biden announces $60 million investment from Enphase Energy Inc. to create 1,800 jobs in US, including 600 in South Carolina, supported by $370 billion Inflation Reduction Act and $52 billion CHIPS and Science Act. Biden is joined by Flex CEO Revathi Advaithi and Enphase CEO Badri Kothandaraman on his trip to promote economic agenda.

Goldbeck Solar Group secures €44 million finance from RGreen Invest for the construction of 4 solar projects in Canada and Chile, totaling 93MWp. Supporting sustainability, the Canadian projects will run on merchant basis and Chile will benefit from PMGD programme.

Woolworths agrees to 100% renewable energy supply deal in NSW and ACT with SmartestEnergy, covering 450 sites with power from wind and solar projects. Achieves goal of 100% renewable energy in two states by 2025.

This article looks at a firm's growth in solar energy production capacity, plus the successful delivery of 800 MW of 210mm Vertex modules to the 2 GW Al Dhafra PV Power Plant project in Abu Dhabi. Learn about the four key features that unlock a low Levelized Cost of Energy (LCOE).

Arctech Solar Holding Co Ltd has signed an 11.457-MW order with Israeli telecommunications and energy firm Nextcom Ltd to deliver its SkyLine II solar tracking system to Israel. This marks Arctech's first entry to the Israeli market. Experience 607-MW IBRI II project in Oman & 2.1-GW Al Dhafra PV2 project in Abu Dhabi. Nextcom has a ILS-41-million contract for 3 solar-plus-storage projects across 2 sites in Israel.

Shenzhen S.C. is investing up to 961 million RMB (USD$134 million) in the manufacture of equipment for perovskite and perovskite tandem solar cells. This strategic investment is set to take advantage of the potential of the technology and enhance the company's position in the PV market. The project will focus on setting up production facilities in Jiangsu province, China, with an annual capacity of 160 PVD, 119 RPC, and 60 VEC equipment.

UAE announces ambitious $54 billion investment in renewable energy sources such as hydrogen to achieve net zero emissions by 2050, in addition to appointing a new investment minister and establishing a financial stability council.

Stellantis NV is investing €100 million ($109 million) into its Mirafiori plant in Italy to reduce emissions and transition away from combustion engines. Improvements such as solar energy and ventilation, green initiatives, and rooftop solar panels and vegetation are part of CEO Carlos Tavares' plans, alongside job cuts in Italy, France, and Germany.

Renewable energy-powered metrogrid company Nuru has secured $40 million in Series B equity funding to construct 13.7 MWp of projects in the eastern Democratic Republic of the Congo, providing reliable and renewable energy to urban communities and promoting climate resilience and sustainable development.

German energy group PNE AG to sell five 208MW solar projects in Romania to TotalEnergies Renewables. PNE commits to remain responsible for further project development until completion. CEO Markus Lesser expresses satisfaction at TotalEnergies' trust in PNE's expertise. Purchase price undisclosed. 510MW of wind and solar projects already sold, 1GW under development.

Experience increased production capacity with the opening of a new high-tech facility in 2021. The new plant will offer 10 GW cell production, 15 GW module production and 8 GW monocrystalline bar production.

Angola is set to develop photovoltaic electricity networks for rural areas with a EUR 1.3bn Standard Chartered Plc loan, bringing renewable energy to 203,000 households in 60 communities. Supported by German Export Credit Agency Euler Hermes, this project is a major step towards Angola's renewable energy transformation.

Tubesolar AG, a flexible perovskite developer, has filed an application for insolvency proceedings and appointed an administrator to initiate a M&A process. With a EUR 4.68 million capital increase in 2022, the company is continuing operations with assured salaries for its 140 employees.

The Australian government has announced a Capacity Investment Scheme to increase renewables in New South Wales to 6 GW. The NSW Energy Roadmap's firming tender will increase from 380 MW to 930 MW and bids representing more than 3.3 GW have already been submitted. Final results announced by the end of September, with the next auction to be announced by October in South Australia and Victoria.

Polish general contractor Onde SA has sold its first self-developed solar project, Cyranka, for PLN 75 million to Engie Zielona Energia. The 18 MW Gizycko 1 & 2 solar farms commenced operations this year, with Engie now owning & operating 4 wind farms & 69 small PV parks with 63 MW.