Finance

The Chinese vertically integrated solar firm posted a Q1 net loss of $23.2 million and revenues of $156.6 million – down 32.5% and 39.9% sequentially and year-on-year respectively.

Amid falling costs across the industry, Guernsey-based investment company NextEnergy Solar Fund is planning to develop four solar plants totaling 59.8 MW without the U.K. government’s financial backing.

The tier-1 Chinese solar company could only post $180m in revenue for the first quarter of the year, while module shipments of 370 MW were almost half the number shipped in Q4 2016. Cash position remains precarious despite staunching of heavy losses suffered last year.

The tech giant’s latest investment in tackling climate change follows last year’s $1.5 billion green bond sale. Proceeds from this latest bond will be earmarked for eco-friendly projects, with solar at the forefront.

The Alcazar II solar project is being developed in the 1.8 GW Benban solar complex by UAE-based Alcazar Energy.

At the first day of the conference PV Asset Management and O&M Europe 2017, which winds up today in Hamburg, almost all the participants agreed on the fact that the business is becoming more and more complex, and that getting to scale may provide a path through a period of further consolidation.

Pamir Energy, a project company of the Geneva-based Aga Khan Fund for Economic Development, has won a prestigious international award for bringing clean energy to eastern Tajikistan and northern Afghanistan.

The U.S. based module supplier has secured a JPY 7 billion ($63.4 million) syndicated development loan facility for undisclosed utility-scale solar projects in Japan.

The initial public offering proposed by the Indian Renewable Energy Development Agency (IREDA) has been given approval by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri Narendra Modi.

If the loan is approved, it could close by the end of the month.