The Conergy brand has changed hands again with the Australian infrastructure giant acquiring the company’s Asia-focused business from its previous US-based fund management owners. Macquarie may be positioning itself to take advantage of a flood of cheap Chinese-made panels.
The solar system may be only 0.5 MW in scale but will help the supply of freshwater to 250,000 people within 18 months and further desalination-linked schemes are in the pipeline.
Shanghai Electric says the Chinese government’s abrupt decision to rein in solar was a significant factor in the collapse of its planned $3.64 billion acquisition of a controlling stake in the world’s biggest poly maker.
The social media titan is the world’s biggest corporate buyer of renewable energy so far this year. BNEF figures show the company has already secured 1.1 GW of green power this year, helping the corporate world break last year’s landmark.
Shanghai Electric’s move to take over GCL-Poly’s Jiangsu Zhongneng has fallen through because conditions are not ‘mature enough’. The development, announced this afternoon to the Hong Kong Stock Exchange, will be closely watched by the global solar industry.
With Hanwha Solar Holdings already owning 94% of the company, the module manufacturer could soon be a private company again. The Korean solar company says the transaction would cost the holding company around $45 million.
The International Energy Agency’s latest study of global energy investment paints another rosy picture for solar – even as the authors warn of missed sustainable growth targets – but the report covers last year, and notes China’s policy about-turn could blow a cold wind through PV.
Wildlife vandalism is the least of the worries afflicting PV system owners in India, according to a report which exposes cost-cutting in installation, non-existent warranties, serious safety concerns and improbable performance figures.
Oil and gas company Total has announced it will work alongside Shanghai-based NIO – the world’s inaugural Formula E champion – to develop products for a potentially huge electric vehicle marketplace in the populous Asian nation.
Decision comes just days after business and energy department prepares to end export payments for solar households, and with parliament in its summer recess. The permit has outraged green groups, the opposition Labour Party and nearby residents.
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