Finance

The new budget looks to lower the cost of energy for households by turning to distributed energy, energy efficiency and community energy programs. To this end, several billion Canadian dollars will be spent.

Chinese module manufacturing giant JinkoSolar today published its financial results for the full year 2018. While the company achieved an impressive 16% growth in shipments over the previous year, its total revenue took a 5.4% hit compared to 2017, thanks to falling module prices throughout the year.

Under its Connecting Europe Facility (CEF), the bloc has opened another call for applications to build cross-border energy infrastructure projects. It has already agreed to provide a grant of €323 million to synchronize the regional grid in the Baltic States.

While some lenders and financiers have signaled plans to stop funding polluting power stations, a new report shows that 33 global banks have poured $1.9 trillion into financing the fossil fuel industry as a whole since the adoption of the Paris Agreement. Big U.S. banks led by JPMorgan have invested most heavily.

The International Renewable Energy Agency (IRENA) and the Global Green Growth Institute (GGGI) have agreed to collaborate on the promotion of renewable energy sources such as solar.

Meyer Burger has struck a strategic partnership with Oxford PV to expedite the mass production of perovskite on silicon heterojunction (HJT) tandem cells.

Stonepeak Infrastructure Partners has invested $200 million in a new distributed solar company — Madison Energy Investments — focused on ground-mount, rooftop and carport projects ranging from 500 kw to 20 MW.

Just three months after revealing that it had achieved a 28% conversion efficiency with its perovskite-silicon tandem solar cells, Oxford PV has closed the initial portion of a Series D funding round aimed at bringing its core technologies to market.

Shunfeng International Clean Energy expects its annual losses to have widened to around $255 million last year, up from $125 million in the preceding 12-month period.

Indian company Amtronics CC has paid Quantum Materials Corp an initial $500,000 as part of an agreement securing the right to manufacture quantum dots and thin-film quantum dot solar cells based on QMC technology for commercial supply in India. Construction has already started on a manufacturing facility in the state of Assam.