Finance

ReneSola fourth quarter results show loss of $25.5m

The Chinese solar firm sees Q4 revenue slump 21.7% YOY, with gross profit also contracting 89.5%. Full year financials reveal similar losses as the company continues its shift towards downstream project development.

Trina Solar to go public in China following NYSE delisting, chairman says – reports

In interview with South China Morning Post, Trina Solar chairman Jifan Gao says that the solar company will “certainly go public again” once privatization and delisting from New York Stock Exchange is completed.

The pv magazine weekly news digest

Hanwha Q Cells, Enphase Energy, Solarwatt and EDF are among the big names grabbing the headlines in a week where new product launches and new GW-scale tender details were revealed.

EIB and Eiffel Investment Group launch €200 million clean energy fund for bridge financing

The European Investment Bank and Eiffel Investment Group have launched a fund devoted to investments in the green economy in France and Europe. The fund will provide bridge financing for, among others, projects in the solar and storage sectors.

Uzbekistan set to launch 500 MW solar plan

The Government of Uzbekistan announced that five 100 MW solar plants will be installed in the country in the period 2017-2021. Total investments for the plan are expected to reach $1.1 billion.

AC Energy acquires renewable energy development platform

The Philippine conglomerate Ayala Corporation’s energy-focused arm AC Energy Holdings Inc. has taken control of Bronzeoak Clean Energy (BCE) and San Carlos Clean Energy (SCCE).

Q4 contraction does not dampen record 2016 for Hanwha Q Cells

The South Korean solar company posted record revenues and module shipments last year, increasing 34.8% and 55% respectively year-on-year.

Enetronica reports revenue and profit drop for 2016

The Italian solar developer saw its turnover and profits decline slightly last year. The company acquired Italian solar inverter manufacturer Elettronica Santerno in late 2016.

Sri Lanka to extend loans for rooftop solar systems

The island nation’s Ministry of Power and Renewable Energy is set to leapfrog to the next stage of energy supply by expanding its loan scheme for rooftop solar.

Meyer Burger keeps working on turnaround plan

The Swiss equipment provider saw its turnover increase significantly in 2016. This growth is due to increasing investments in upgrading technologies and capacity expansion in the PV industry.