Norwegian platform invests $50 million in Egyptian renewables
Empower New Energy, a Norwegian solar investment platform, has signed a $50 million agreement with Egyptian independent power producer Engazaat to fund a renewable energy project portfolio in Egypt.
Nord/LB to invest €73 million in 100 MW Polish solar farm
Renewables developer OX2 has secured a €73 million ($76.8 million) financing package from bank Nord/LB for a 100 MW solar farm currently under development in southwestern Poland.
Malaysia’s OCK Group invests $79.1 million in solar portfolio
OCK Group, a telecom services provider, says that it plans to invest MYR 350 million ($79.1 million) in a 116 MW solar facility.
Maxeon Solar reports $179 million Q3 loss
The Singapore-headquartered company has faced product detainment by U.S. Customs and has announced plans to focus solely on the U.S. market.
TotalEnergies to acquire Germany’s VSB Group
France’s TotalEnergies is set to buy German renewables company VSB Group for €1.57 billion ($1.65 billion). It has also agreed to sell 50% of a 2 GW solar-plus-storage portfolio in Texas for $800 million.
Czech electricity grid to get €400 million upgrade
The European Investment Bank (EIB) has granted a €400 million ($420 million) loan to Czech utility ČEZ to upgrade and expand Czechia’s electricity distribution grid. The upgrades are expected to help absorb up to 5.5 GW of new renewable capacity.
US renewables investment bank targeting 4 GW by year-end
Catalina Energy Capital says it is now on track to advise on more than 4 GW of solar and storage assets by the end of 2024.
ADB finances 20 MW solar plant in Bangladesh
Muktagacha Solartech Energy Ltd. has agreed to build and operate a 20 MW solar project in Bangladesh, following the signing of a $24.3 million investment package from the Asian Development Bank (ADB).
African solar looks beyond donor nations for investment
Multilateral organizations the World Bank and African Development Bank (AfDB) have played a key role in the development of African solar and want to attract more private capital to a continent with at least 40% of the world’s solar irradiation but currently only 1% of its PV generation capacity.
Masdar acquires 70% stake in Terna Energy
Abu Dhabi-based Masdar has taken a majority stake in Greek renewable energy company Terna Energy, with plans to launch an all-cash mandatory tender offer to acquire the outstanding shares.
