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.
Ampin, Sumitomo set up renewables venture
Ampin Energy Transition and Japan’s Sumitomo Corp. have formed a joint venture company, Ampin C&I Power, to develop renewable energy sources in India.
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.
