Finance

Saudi Arabia to tender seven PV projects totaling 3.3 GW in 2018

The launch of the series of tenders was confirmed to pv magazine by Turki Mohammed Al Shehri, the head of the Saudi Renewable Energy Project Development Office.

Shell to acquire 44% stake in US solar developer Silicon Ranch

The pioneering US solar developer will now be backed by Europe’s largest oil and gas company.

Coronal Energy closes on $235 million in financing for Florida solar

Panasonic’s development subsidiary has closed on a combination of tax equity and debt to provide financing for 120 MW-AC of solar plants that came online last August.

IRENA and ADFD to fund $25m PV projects in Mauritius and Rwanda

The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) have announced that two solar PV projects – one located in Mauritius and the other in Rwanda – will be receiving $25 million in concessional loans from ADFD, one in Mauritius and one in Rwanda.

ACWA Power to adopt SolarCoin

The Saudi energy company said it will be the world’s first utility-scale generator joining the SolarCoin ecosystem, and that it will be “rewarded for helping build a more sustainable future.”

Taiwan’s Motech secures $162.2 million in financing

The Taiwanese cell producer said it will use the funds to repay existing loans and finance operations.

Canadian Solar lowers Q4 revenue guidance due to delayed project sale

The Chinese Tier 1 solar company had hoped to finalize the sale of six PV power projects in the fourth quarter of last year, but delays to necessary government approvals mean Q4 revenue is lively to be around $700 million lower than expected.

$102.6 million guaranteed for 250 MW Egyptian PV project

World Bank Group member, the Multilateral Investment Guarantee Agency (MIGA), has pledged to provide financial support for six solar power plants in Egypt, the accumulative capacity of which stands at 250 MW.

Germany’s EEG levy surplus reaches $4 billion in 2017

In December, Germany’s EEG levy surplus increased again by almost €500 million. The full-year balance sheet shows that transmission system operators received more than €1 billion than they spent.

China the global leader in 2017 clean energy investment, at over $44 bn

China was the global leader in 2017 clean energy investment, says a new report. On the solar front, the country accounts for 60% of all cell production; and will continue to lead installation developments for at least the next five years. New 2020 targets are expected to be set. In the battery arena, Chinese companies are also set to dominate.