Finance

South African independent power producer NOA has reached financial close with Standard Bank on its 349 MW Khauta South Solar PV project near Welkom, Free State. The project will be the country’s largest single-asset solar facility once operational.

EUPD Research projects that between 2025 and 2029, the European C&I solar segment will expand from 33 GW of annual installations in 2025 to over 40 GW in 2029, leading to an aggregated new C&I installation of 185 GW in the next five years. By the end of 2029 alone, this surge in capacity is expected to prevent approximately 88 million tons of CO₂ emissions equivalent to saving around 204 million barrels of oil in a single year.

The Indian government has announced viability gap funding (VGF) of INR 54 billion ($631.5 million) to support 30 GWh of battery energy storage systems (BESS), allocating capacity among 15 states and the state-owned power producer NTPC. The scheme provides INR 1.8 million/MWh and requires projects to be commissioned within 18 months through competitive bidding.

US solar developers Soltage, Origis Energy, and rPlus Energies have secured more than $1 billion in financing across three major deals, signaling sustained investor confidence in utility-scale solar and storage despite US policy uncertainty. The transactions back more than 1.4 GW of solar and 1.8 GWh of battery capacity.

Australian battery tech startup Voltavate has secured AUD 850,000 ($535,000) in an oversubscribed pre-seed funding round led by global investment firm Artesian.

US residential solar company Sunnova has entered into asset and power purchase agreements to support operations while it seeks a buyer.

Financial package announcement coincides with groundbreaking ceremony for Project Budai in Chiayi County, Taiwan. The 115 MWp project is expected to be complete in 2026, according to Lightsource BP.

The Ukrainian government is launching a €2 million ($2.3 million) pilot project with the municipality of Grafenwörth, Austria, to expand solar infrastructure and enhance local energy resilience.

US residential solar lender Mosaic has filed for Chapter 11 bankruptcy amid rising interest rates and policy uncertainty, joining a wave of financial distress sweeping the sector. The company, which backed more than $15 billion in home energy loans, will pursue a court-approved restructuring backed by existing lenders.

Heliup has commissioned a 100 MW factory in France to produce lightweight solar panels for flat commercial and industrial (C&I) rooftops with limited load-bearing capacity, using ultra-thin glass technology.