Solar Markets & Finance News

With millions of acres of flat farmland, Ohio and Indiana are becoming leading US states for solar power development. 15GW of photovoltaic panels are expected to be installed in the two states between now and 2027, enough to power about 12 million households.

Romanian state-controlled electricity distribution group Societatea Energetica Electrica SA (BSE: EL), better referred to as Electrica, has actually acquired a business that holds the legal rights to a 12-MW DC/9.75-MW AC solar project in eastern Romania.

Fotowatio Renewable Ventures (FRV) said on Tuesday that its Australian unit acquired a 52-MW solar farm project in New Zealand with the joint venture (JV) with domestic power as well as gas energy Genesis Energy Ltd (NZE: GNE).

Argentina's government last week launched a renewable resource auction, RenMDI, seeking 620 MW from different innovations to diversify the nation's power mix as well as change expensive forced generation, usually provided by thermal as well as hydroelectric plants.

Contract values raised 11.4% in the final quarter of 2022 and by 60% year over year, says LevelTen Energy

Enel, the Italian energy group, is in exclusive talks to sell a stake in 3Sun, its photovoltaic panel production site in Sicily. This move is part of the EU effort to speed up the switch to renewables and reduce dependence on Chinese solar materials.

Alxa League, a sparsely populated region of Inner Mongolia, is investing 169 billion yuan into clean energy projects, including a massive 86-billion-yuan power base in the Tengger Desert.

Since the Inflation Reduction Act became law in August 2020, companies have announced more than 100,000 clean energy jobs in the US, according to an analysis by the nonprofit advocacy group Climate Power. The law provides billions of dollars in tax credits and other incentives to develop green industries.

Colombia has become the first country to benefit from the Climate Investment Funds (CIF), receiving a $70 million loan to transition to clean energy. This loan will help build infrastructure for renewable electricity transmission, including batteries, transmission lines, and green hydrogen facilities.

Norwegian renewable resource power producer Scatec ASA reported proportionate revenues of NOK 1.995 billion ($ 195 million) in the fourth quarter of 2022, up nearly 71 percent from NOK 1.169 billion ($ 114 million) in the fourth quarter of 2021. For the complete year 2022, sales raised to NOK 5.957 billion ($ 583 million), up nearly 38 percent from NOK 4.329 billion ($ 423 million) a year previously.

German independent power producer SUN IPP GmbH & Co KG, part of solar installer SUNfarming Gruppe, has gotten EUR 50 million (USD 53.9 m) in debt financing to bankroll the construction of 257 MWp of solar projects in Poland.

US renewable energy player Pristine Sun Corporation has announced a $250 million capital commitment from strategic private equity and family office investors to develop renewable energy projects. This will allow the firm to develop, finance, and build up to 5 GW of its solar projects.

US technology conglomerate Meta Platforms Inc. (NASDAQ:META) has taken a step towards its goal of sourcing 100% renewable energy for its operations by signing a multi-year contract with energy and commodities trader Vitol. The contract involves the purchase of renewable energy credits and other environmental attributes from Vitol's 50-MW Ocotillo Wells solar project in California.

Ukraine and the European Commission have opened joint consultations to launch a large-scale program of solar energy production by households and communities with the EU. Prime Minister Denys Shmyhal emphasized the importance of the EU's readiness to support Ukraine's efforts to implement the Peace Formula.

TotalEnergies said on Friday that it is selling a 50% risk in the 234-MW wind and solar portfolio in France to French insurance firm Credit Agricole Assurances.