EBRD provides €75m for 204 MW of solar near Greek coal plants

The development lender will supply three-quarters of the funds as Hellenic Petroleum aims to raise €100 million for a reported 18 solar sites in the nation’s coal heartland.

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Off-grid solar funding concentrated in just three companies

With a previous 50-50 split between equity and debt investment funding for the off-grid market lurching to 84% borrowing, and commentators stating most of this year’s backing was agreed before the onset of Covid-19, fears are mounting about the prospects for the sector.

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Chinese PV Industry Brief: 10 GW for Canadian Solar in Jiangsu

Canadian Solar has agreed to invest $1.5 billion in a 10 GW solar cell and module factory in eastern China. GCL New Energy, meanwhile, has revealed the terms of a plan to sell a solar project portfolio to state-owned Huaneng.

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Terms worsen for GCL in proposed project sale to China Huaneng

Chinese solar project developer GCL has added 109 MW of generation capacity to the proposed sale to the state-owned buyer – and would receive US$81 million less financial benefits in return.

EU on track for 2030 renewables target – but could do more

With the SolarPower Summit 2020 taking place this week, organizer SolarPower Europe has assessed the plans drawn up by member states would mean the bloc sourcing 33.1-33.7% of its energy from clean power by the end of the decade, with the help of 19 GW of new solar per year.

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IRENA presents $2tn plan to drive 5.5m renewables jobs by 2023

Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.

By Ek! Northvolt raises $600m

The European battery manufacturer has raised the funds with a private shares placement which included the co-founder and CEO of music streaming service Spotify.

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Egypt to impose ‘merger fee’ on net-metered solar

Law firm Riad & Riad has confirmed the levy will be applied but said the level of the charge had not been determined, despite a report to the contrary in one local newspaper.

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Trafigura to develop 2 GW of renewables

Oil and metals trader will join forces with Australian investment group IFM to launch the new entity, which will develop solar, wind and energy storage projects – some of them supplying clean energy to Trafigura operations – as well as making acquisitions.

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Georgia explores green hydrogen

The Caucasian nation could use its hydropower resources to generate the sustainable fuel for transport in its gas pipeline network. An agreement to cost the development of such an industry formed part of a deal which will see the EBRD lend the Georgian Oil and Gas Corporation €217 million to help it through a Covid-19-related cash crisis.

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