Chinese PV Industry Brief: Aiko Solar, GoodWe, Ginlong Solis post H1 profit declines
Aiko Solar, GoodWe, and Ginlong Solis have all posted declines in net profit for the first half of 2024 due to industry overcapacity.
European Investment Bank invests in solar, wind in South Africa
The European Investment Bank (EIB) and Development Bank of Southern Africa (DBSA) are each investing €100 million ($110.8 million) in small- and medium-scale solar and onshore wind projects in South Africa. Together, they have now committed €600 million under South Africa’s Embedded Generation Investment Programme (EGIP).
Chinese PV Industry Brief: Risen, Sungrow, Arctech reveal H1 results
Module maker Risen Solar has posted a net loss of CNY 963 million ($135.2 million) for the first half of 2024, while Sungrow and Archtech have recorded profit increases.
Namibian utility secures financing for 100 MW of solar
Namibia Power Corp. (NamPower) has secured a loan from German state-owned development bank KfW to expand the planned Rosh Pinah project in Namibia from 70 MW to 100 MW. The NAD 1.3 billion ($72.6 million) loan will cover 80% of the solar project’s costs.
Clime Capital invests $10 million in PV developer in Philippines
Singapore-based fund manager Clime Capital is investing up to $10 million in Upgrade Energy Philippines (UGEP). The money will go toward supporting commercial and industrial (C&I) and utility-scale solar deployment.
Germany’s Fellensiek files for insolvency
German PV project developer Fellensiek Projektmanagement GmbH & Co. KG has filed for insolvency due to claims from an unnamed investor. However, the company’s 20 project entities remain unaffected, and buyers are being sought for their sale.
Poland relaunches residential solar, storage rebate scheme
The sixth edition of the Polish government’s residential solar and storage rebate scheme is now open, with a total budget of PLN 400 million ($103.2 million). Applications will be accepted until Dec. 20, or until funds are exhausted.
Q Energy secures €50.4 million for Europe’s biggest floating PV project
Renewables developer Q Energy has closed €50.4 million ($55.7 million) in financing for a 74.3 MW floating solar plant in northeastern France. Construction is already underway, with commissioning planned for the first quarter of next year.
Chinese PV Industry Brief: JinkoSolar, Longi, Trina Solar report H1 results
JinkoSolar says it recorded CNY 47.251 billion ($6.6 billion) of revenue and a CNY 1.2 billion net profit in the first half of 2024, while Longi’s revenue plunged to CNY 38.529 billion in the January-June period, with a net loss of CNY 5.243 billion.
Australian renewable investments surging, says Clean Energy Council
A new Clean Energy Council (CEC) report highlights a steady recovery in large-scale renewable energy investment and strong ongoing investment in energy storage in Australia.
