Lightsource bp secures financing for 560 MW Greek solar project
Investment totaling €315.35 million ($337.8 million), consisting of funds from Eurobank and the Recovery and Resilience Fund Greece 2.0, will allow UK developer Lightsource bp to begin developing a 560 MW solar project located in the east of mainland Greece.
Sungrow posts $1.3 billion profit for 2023
Chinese inverter manufacturer Sungrow shipped 130 GW of inverters last year, reaching a profit of $1.3 billion.
SunPower to close business units, cut about 26% of workforce
The US-based company announced plans to wind down its residential solar installation locations and close its direct sales unit.
JinkoSolar posts $1 billion net profit for 2023
Chinese module manufacturer JinkoSolar has recorded roughly $16.4 billion of revenue and a $1.06 billion net profit for 2023, with PV module shipments reaching 78.52 GW. Its module manufacturing capacity hit 110 GW at the end of December.
IRENA’s 14th assembly underscores role of geopolitics, urgent need for action
The 14th assembly of the International Renewable Energy Agency (IRENA) last week in Abu Dhabi underscored the centrality of geopolitics and security in the current global energy landscape. The gathering also called for greater action to achieve the COP28 target of tripling renewables deployment by 2030.
High interest rates challenge global shift to renewables
A new report from Wood Mackenzie examines how the global shift to higher interest rates to combat inflation is squeezing the energy transition.
Mercom, WoodMac note challenging PV investment climate in Q1
Mercom Capital Group says that total corporate solar funding, global venture capital funding, public market financing, and PV mergers and acquisitions all fell year on year in the first quarter of 2024. The sector is still grappling with high interest rates, which Wood Mackenzie says is disproportionately affecting renewables projects.
Netherlands allocates €100 million for battery storage subsidies
The Dutch government has earmarked €100 million ($106.7 million) of subsidies for the deployment of battery storage alongside PV projects. The funds are part of a €416 million subsidy program announced last year to alleviate grid congestion.
Croatia launches auctions for 607 MW of solar, wind, hydro
The Croatian Energy Market Operator (HROTE) has announced a much-anticipated, €257.2 million ($273.5 million) round of renewable energy auctions. It has allocated the biggest quota of 450 MW for solar projects and has set a deadline to award the subsidies by year’s end.
EC announces European Solar Charter to support PV manufacturing
The European Commission (EC) has proposed the European Solar Charter (ESC) in response to the challenges facing the continent’s solar manufacturing industry. The document sets out a series of voluntary actions to be undertaken to support the EU photovoltaic sector and bears no mention of EU trade tariffs or restrictions on cheap solar panel imports.
