BASF receives funding for world’s largest industrial heat pump
The German government has awarded a €310 million ($336 million) funding package to chemical manufacturer BASF for the construction of an industrial heat pump with a capacity of up to 500,000 metric tons of steam per year. It will use waste heat from steam crackers for CO2-free stream production.
Solar corporate funding down 23% so far this year
Total corporate funding in the solar industry reached $22.3 billion in the first nine months of 2024, down 23% year on year. Mercom Capital Group says global uncertainties are affecting investor confidence, but an increase in debt financing and resilience in newly announced large-scale project funding are bright spots for the sector.
IFC, Raiffeisen Bank provide €90 million for 225 MW of solar in Bulgaria
International Finance Corp. (IFC) and Raiffeisen Bank International have signed off on a €90 million ($97.8 million) debt package to support the development of a 225 MW facility in northeastern Bulgaria.
Can Israeli PV tenders preserve competition in a concentrated market?
Researchers have studied Israel’s clearing price method for PV tenders and raised concerns about its potential for long-term dominance. They examined how power abuse and technological inefficiencies lead to market inefficiencies, concluding that a duopoly best suits the Israeli market.
UK’s largest PPA to date signed for 373 MW solar park
Quinbrook Infrastructure Partners announces two long-term agreements covering 100% of solar power generation at Cleve Hill Solar Park. British supermarket retailer Tesco has signed a 15-year agreement covering 65% of generation and Shell will manage remaining capacity under 10-year route-to-market deal.
University of the Western Cape launches 4 MW solar, storage tender
South Africa’s University of the Western Cape (UWC) has opened a 4 MW solar and storage tender, with proposals to include a PV carport system and an online monitoring and management platform. The tender follows a build, operate, and transfer model for up to 20 years.
Gautam Solar plans IPO
Gautam Solar plans to launch an initial public offering (IPO) in the next 12 to 18 months to fund its PV cell expansion plans.
Kosovo shares results of solar subsidy scheme
Kosovo’s Ministry of Economy says two new schemes, offering subsidies for solar system installations to households and small- and medium-sized enterprises, have received more than 500 applications combined.
Canada refinances funding stream for renewables, grid modernization tech
The Canadian government has put another CAD 500 million ($363.1 million) in its funding stream to finance renewable energy and grid modernization technologies. Canadian utilities, system operators, and industry organizations are eligible to apply for support for projects that help strengthen the grid.
Form Energy raises $405 million for its multi-day iron-air batteries
The US-based long duration energy storage startup has raised more than $1.2 billion to date, making it one of the top-funded players in the space.
