Finance

New solar installations in the country reached the milestone in six months, according to Dutch New Energy Research, which publishes its first Dutch Solar Quarterly report today.

Developers gave short shrift to warnings about depreciation, protectionism and tax headwinds as tendering and auction figures soared, but shied away from tough price caps set for the Solar Energy Corporation of India’s procurement exercises.

The rise of batteries will attract that headline figure in investment up to 2040, say analysts, as exponential growth in EV ownership, falling stationery system costs and the needs of the world’s grid-poor regions combine to boost lithium-ion technology.

A report published today by U.K.-headquartered energy company Drax says that, for the first time ever, total generation capacity available from renewables has overtaken that of fossil fuels on Britain’s electric grid.

The polysilicon, PV wafer and module and inverter maker has arranged a second EGM of 2018 to seek permission for two bond issues, as its peers scramble to raise their manufacturing capacities.

While the timelines for PV plant execution and completion of the manufacturing facilities required by the tender are now more realistic, production obligations – especially related to capacity utilization – need to be revisited.

Last December, the company’s CEO made a proposed transaction offer to acquire Canadia Solar. Mulling the offer, a special committee has now advised the company’s board to cease its review of the proposal, highlighting that it could not find sufficient certainty in the CEO’s ability to secure the funding for the transaction. Following the news today the CEO has withdrawn his offer.

EBITDA for the third quarter of 2018 increased 146%, revenue is also performing well, with the company expecting 40% increase throughout the second half of 2018, and the company reports that its gross profit has increased by 64% compared to 2017. Citing significant order increase for solar thin film products the materials suppliers touts strong three quarters of 2018.

The Dutch government is planning to raise between €3.5 billion and €5 billion through green bonds annually. The proceeds will be used for sustainable investments, including renewable energy deployment.

The inverter maker took number one spot in the US from SMA this year, and acquired majority stakes and IP in uninterrupted power supply company Gamatronic and storage system provider Kokam. While other companies have consolidated, SolarEdge managed to report robust results.