Finance

The Italian fund will use the money to refinance its current PV plant portfolio consisting of 101 MW of facilities, and to finance further acquisitions planned by the end of this year.

The Balearic Islands have decided to fast-track a 42 MW solar project, which would raise the three island’s total installed generations by one third. Iberdrola has secured a PPA for its 391 MW Nuñez de Balboa projects. Moreover, several other PV projects have obtained approval from regional authorities.

In what analysts worldwide are sure to look back on as the last golden period for global solar – at least for the immediate future – China saw more impressive figures for PV manufacturing in the first half of the year. Then the government stepped in.

Norwegian project developer, Scatec Solar has posted increased revenues for the second consecutive quarter. The company states that this performance is primarily attributed to its increased development and construction activities, with more than 1 GW of projects under construction worldwide.

In a preview of its half year financial results, Swiss equipment supplier, Meyer Burger has announced it is expecting a return to profit in the first half of 2018, recovering from a lengthy period of losses, including a major restructuring and the closure of multiple production sites.

South Africa-based Sun Exchange and U.S. minigrid developer, Powerhive have come together to step up minigrid deployment in rural Kenya by leveraging the crypto economy. The partnership is expected to catalyze up to $23 million of capital and fund around 150 new projects in the country’s power hungry areas.

Norway headquartered polysilicon producer, REC Silicon posted a loss of US$9.6 million for the second quarter of 2018, amid reduced production and increasing inventory. The company’s Solar Materials segment was responsible for much of these losses, with decreased demand and ongoing trade wars cited as the cause.

Following a strong year for clean energy spending, 2017 saw a 7% decline in renewable power investment – to around $298 billion – while the share of fossil fuels in energy supply funding rose for the first time since 2014, according to the International Energy Agency in a report published today.

Chinese module giant JA Solar has announced the completion of a merger that makes it the latest in a line of solar manufacturers to voluntarily de-list from a major stock exchange.

Biggest shareholder has acquired – and postponed payment of – a chunk of debt due last month and agreed a further debt-to-equity transfer. The Swiss company today stated further measures will be required to shore up its balance sheet.