Guggenheim Solar Index: Strong beginnings
Solar stocks enjoyed a good start in 2021, writes Jesse Pichel of ROTH Capital Partners. In the United States, the Biden administration’s focus on climate change and the expectation of further incentives for renewables saw solar stocks rally in January. The global forecast is also positive, with China and others set for big installation numbers.
EU set to release initial €7.5bn of green transition fund
With the European Parliament formally voting through a €672.5 billion recovery and resilience fund, the baton will pass to the heads of the European Council and its grouping of economic ministers. It is hoped an initial, 13% slice of the fund will be available to member states from early next month.
Sunseap connects 23 MW in Vietnam under FIT regime
The developer said it installed and commissioned seven solar rooftops in just three months despite Covid-19 travel restrictions.
Enphase closes 2020 with a strong Q4
After a Covid-19-stunted Q2, the company reported improved revenues for a second straight quarter, and closed 2020 with revenues north of $770 million.
Macquarie’s second renewable energy fund raises €1.6bn for large scale investment
Macquarie-owned Green Investment Group’s Renewable Energy Fund 2 has far exceeded its own expectations by raising over €1.6 billion in investment commitments for large scale solar and wind projects all over the world.
GCL-Poly dilutes holding in developer business to raise funds
The poly maker yesterday secured approval from unpaid creditors to restructure the company’s debts and will commit the anticipated $115 million windfall from its shares placement towards its financial commitments.
India eyes 10 GW of ingot-to-module manufacturing capacity within two years
Under a production-linked incentive scheme, the government will reward manufacturers for building vertically integrated PV production lines. The scheme aims to attract 10 GW of production capacity by April 2023.
GCL-Poly shareholders sign up to debt restructuring plan
The holders of $500 million of unpaid senior notes which matured last month have agreed to receive 5% of the money now, plus a share of a $17.8 million fund, with the balance to be paid out in three years’ time.
Chinese PV Industry Brief: China could add 65 GW of solar this year as Longi order gives GCL-Poly a much-needed lift
State-owned power company SPIC is all set to contribute to the figures after announcing it wants to add 15 GW of renewables capacity during 2021 and China Glass, fresh from rebuffing Xinyi Glass’ takeover offer, is on the hunt for more manufacturing facilities.
Five commercial offtakers for $33m Jordanian solar portfolio
Telecomms, retail and garment manufacturing businesses have signed up to consume the electricity to be generated by eight solar projects in Jordan which will harness grid infrastructure to transfer an estimated 81 GWh of clean power annually.
