Soltec enters pre-insolvency as Spanish regulator halts trading of shares
Soltec has entered pre-insolvency proceedings to negotiate with creditors, and Spain’s National Securities Market Commission (CNMV) has suspended trading of its shares until it releases its first-half 2024 financial results.
SMA Solar launches restructuring plan to save up to €200 million
German inverter manufacturer SMA Solar Technology AG has launched a restructuring plan aiming to save up to €200 million ($223 million) for financial stabilization and market repositioning.
Synertics launches PPA evaluation tool for buyers, sellers
The Germany-based consulting company has presented a new online tool for tracking, pricing and analyzing renewable energy power purchase agreements (PPAs). It is targeted at both buyers and sellers of renewable energy.
Maxeon challenges Nasdaq delisting threat, plans reverse stock split
Maxeon has challenged Nasdaq’s decision to potentially delist it from the Global Select Market and is now implementing a reverse stock split to raise its bid price above the required threshold. A hearing on the matter is pending.
EU approves €1.2 billion renewables grant scheme in Poland
The European Commission has given the green light to a €1.2 billion ($1.3 billion) state aid program in Poland that provides direct grants to companies producing solar panels, batteries, heat pumps, and other renewable equipment components.
Sweden to lower solar subsidy, scrap tax breaks for electricity micro-production
The Swedish government is considering reducing the subsidy for solar installations and removing the income tax reduction for households and businesses that micro-produce renewable electricity. Svensk Solenergi, Sweden’s leading solar association, has criticized the proposals.
EDF, Masdar secure financing for 1.5 GW of solar near Abu Dhabi
EDF Renewables, Korea Western Power Co. (Kowepo), and Masdar have secured financing to build a 1.5 GW solar plant near Abu Dhabi, backed by a 30-year power purchase agreement (PPA) with Emirates Water and Electricity Co.
Engie secures 10-year virtual PPA from Coca-Cola in Australia
Coca-Cola has signed a virtual power purchase agreement (PPA) brokered by France-based Engie, to source renewable energy and associated credits from the Wellington North Solar Farm in the Australian state of New South Wales.
Hungary’s residential PV subsidy scheme draws 20,000 applicants
The Hungarian government says 20,000 households have signed up for its PV subsidies scheme, which offers up to HUF 5 million ($14,125) per home installation. The original HUF 75.8 billion budget was increased by HUF 30 billion in July.
End of the line for a U.S. solar giant
SunPower, one of the largest, oldest, and most influential solar businesses in the United States, has closed its doors. Residential solar installers in the United States have struggled as interest rates have risen and cash generation has emerged as an issue.
