Solar-powered minigrids could account for a greater slice of sub-Saharan Africa’s $740 million off-grid market, but progress is still needed throughout the region in terms of policy, financing and commercial services, the Rocky Mountain Institute (RMI) says in a new report.

The Chinese developer posted a profit attributable to shareholders of 198.2 million yuan ($28.7 million), up sharply from just 13.7 million yuan for the same period a year earlier.

The Kuala Lumpur-based independent power producer (IPP) will finish building the project in the state of Kedah by the first quarter of 2018.

The Swedish government has signalled plans to start discussions on implementing regulatory changes that could allow homeowners to install PV modules without first obtaining a special permit.

Wholly owned group subsidiary Zhaolian Lvyi has agreed to set up a partnership with China Zheyin Synergy Capital Management to invest in companies that are building solar, wind, hydropower and biomass projects.

The Chinese independent power producer’s profit attributable to shareholders plunged 23.5% year on year to $79.5 million, as revenue slid 6.7% to $1.07 billion in the 12 months to the end of December.

The Malaysian Investment Development Authority (MIDA) approved 2.42 billion ringgit ($544 million) of solar investments in the 12 months to the end of December.

The Chinese PV manufacturer expects to record a “substantial loss” for the year to the end of December.

SPI Solar Japan, a wholly owned subsidiary of the Chinese PV group, has agreed to sell its entire interest in land and project development rights for 4.8 MW of PV capacity near Tokyo.

The independent power producer recorded a net loss of $110.4 million from its continuing operations — up sharply from $27.5 million a year earlier — due to impairment expenses totalling $75.7 million, in addition to a net deferred tax write-off of $6.9 million.