Azure Power agrees $0.035 tariff for 300 MW project in India
The developer will supply energy to India’s largest utility under a 25-year PPA and can build the project anywhere in the nation, with construction to finish in early 2021.
SoftBank and Essel to develop 500 MW solar park in India
A failed association with IL&FS has failed to deter SoftBank from its plan to invest a staggering $1tn in Indian solar by 2030. Now the Japanese funding giant is working with Essel Infraprojects on a 500 MW plant, with further details yet to be revealed.
Naturgy finances Brazilian PV projects through $71.5m bond issuance
The Spanish gas and power provider will use the funds to build the Sertão I Solar and Sobral I Solar projects, with a combined capacity of 68 MW.
French turn on nuclear opens €45 billion renewables investment opportunity
The French government is expected to show a draft plan on how to achieve nuclear generation reduction plans. After minister Hulot left the government in August, amidst disagreements with Macron’s handling of the nuclear lobby, the parliament has voted for a bill to reduce nuclear generation capacity. If the plans are realized in compliance with the climate targets, solar and wind deployment could grow significantly.
Petroleum Development Oman awards contract for 100 MW PV plant
State owned oil company Petroleum Development Oman (PDO) has awarded an independent power producer contract for a 100 MW solar project to a consortium led by Japanese conglomerate Marubeni. Once constructed, the plant will power PDO’s operations in Oman under a 23-year PPA.
SunPower still swinging in Q3 results
The high efficiency PV maker is still chasing elusive profitability, but had some major successes this quarter and is optimistic about new technologies and opportunities.
IRENA and southeast Asian nations pledge action on PV
The International Renewable Energy Agency wants to unlock the PV potential of the Asia-Pacific region with technical and planning support. It says a better flow of knowledge is needed to close the gap on a regional aim of generating 23% of energy from renewables by 2025.
Risk of a ‘bridge to nowhere’ effect in Africa’s electrification
A report from the United States’ Rocky Mountain Institute finds more work is needed on the demand side for microgrids and other rural electrification projects in Africa. Such projects, says the report, often focus on building generation capacity, with little consideration for the ability of end users to make good use of energy.
Falling rupee could threaten $3.84bn of Indian solar projects
As the currency continued to fall today, analysts are concerned developers will see any savings from lower module prices disappear, and lenders may get nervy, putting India’s national solar target in grave doubt.
Azure Power raises $400 million in debt and equity
Azure Power has raised the capital since June 30th, and says it is “the largest amount of financing raised by a solar power company in India during this period”. Azure says the fund leaves it well positioned to deliver a 2 GW project pipeline.
