Finance

Renesola rebounds from loss with Q2 profit but loan looms large

The project developer trumpeted its return to the black in the second quarter and appears set to secure an $11 million cash injection from its main shareholder. It needs the cash to help settle a near-$29 million debt due for repayment in March.

ACWA Power offers African record low $0.02526/kWh for Ethiopian projects

Ethiopia has concluded the tender process for the first round of its Scaling Solar program. The winning bid is the lowest in the continent to date, according to the finance ministry.

Total expands solar business in Asia

The French oil giant and China’s Envision Group are forming a joint venture offering PV systems combined with energy management solutions. Total Eren is also involved in a 100 MW solar project in Uzbekistan.

Brexit paralysis and lack of incentives leave community energy facing uphill struggle in the UK

The future benefits of technology such as smart meters and the associated aggregation of small scale generation are not being adequately rewarded, support for solar and wind is being cut off and parliament is fixated solely on one issue.

Sweden increases budget for solar incentives by $48m

Funding for the rebate scheme had already been increased in April. Overall, the budget for this year now amounts to almost $125 million.

Bangladesh’s first state-owned solar plant comes online

The new generation facility was financed by the Asian Development Bank and built by Chinese company ZTE Corp. The project will sell power to the grid for $0.065/kWh, a record low for solar in the country.

Essent takes over Belgian solar installer Aralt

The Essent business of German utility RWE wants to widen its clean energy offer for Belgian clients. Last year Aralt achieved a €5 million turnover.

Does slew of solar mega tenders mean Gulf nations are belatedly accepting the inevitable?

With Kuwait, Qatar and even renewables laggard Saudi Arabia following in the wake of regional clean energy pioneer the UAE, a raft of huge solar tenders is entering the Middle Eastern project pipeline. Obstacles remain to overseas project developers but significant rewards are on offer.

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The energy transition is easily affordable but all hope of 1.5C warming will vanish in 2028

Technical consultancy DNV GL has published its Energy Transition Outlook 2019. While the electric vehicle, storage and renewable energy industries are likely to see significant rises in demand, the sobering conclusion is the world will miss carbon reduction targets by a long shot.

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Recovering interest rates may raise large scale solar electric price 11%

Renewables investment may by hit by rising interest rates despite the falling cost of clean energy tech just as fossil fuels avoid the impact of rising base rates.

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