A report by McKinsey & Company reinforces the widely-held view renewables will supplant fossil fuels in the energy system but also joins the chorus of voices warning the world is on track to fall well short of limiting global temperature rises this century to 1.5C.
Parent company hopes to raise $535 million from the move with $500 million worth of three-year senior notes owed by its solar project business due to mature on January 30.
Plunging regional solar tariffs reportedly prompted attempted renegotiations of agreed solar power prices with the result the kingdom made no progress towards its renewable energy goals in 2020.
Trina Solar has secured a 4 GW solar module order from US company Nextera Energy and wafer manufacturer JYT Corporation closed deals to supply a total of 1,906,000,000 wafers.
Polycrystalline PV technology, which is seeing its market share tumble on the global stage, still dominates India’s small solar manufacturing base and is emblematic of the R&D shortfalls in the sector, according to a survey of the state of the industry.
A new fund established by the African Development Bank could attract $650 million of private money into the sector, according to the lender.
The state-owned Kuwait Petroleum Corporation has reportedly ended its involvement with the gigawatt scale Dabdaba solar field and asked the national body responsible for drumming up private sector investment to merge it with the 2 GW Shagaya renewables development.
The loan will be supplied by the EBRD and includes €1.25 million of concessional lending provided by the global Green Climate Fund.
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