Finance

The French energy giant made another move to expand its presence in the solar sector. Sungevity filed for Chapter 11 bankruptcy in the United States in mid-March.

In tweet sent yesterday, India revenue secretary Hasmukh Adhia said that all solar equipment will be subject to only 5% Goods and Services Tax, allaying fears cells and modules would be placed in 18% bracket.

The South Korean-headquartered solar company posts operating income of $28 million following loss of $21 million in Q4 2016. Revenue was steady, but shipment figures were once again left undisclosed.

With the $20 million financial backing of the Clean Energy Finance Corporation (CEFC), local lender RateSetter has launched Australia’s first peer-to-peer green bond lending platform connecting investors and borrowers with an eye on environmental sustainability.

The Tier-1 Chinese solar company saw its profit slip both sequentially and year-over-year, however, as lower average selling prices continued to fall. Company will seek opportunities to streamline operations moving forward.

Chinese module manufacturer JinkoSolar announced the completion of financial negotiations for the 1.17 GW solar project to be built in Abu Dhabi. The project will be financed with $870 million and is expected to begin commercial operation in April 2019.

In order to help reduce the future cost of solar PV, ARENA is set to launch its third competitive funding round for solar R&D.

Report by the International Renewable Energy Agency shows large increase in number of people employed in renewable energy sectors, led by solar PV, which accounts for 3.1 million jobs.

U.S thin film producer Siva Power has announced the completion of a $25 million investment round, which focuses on its solar module business, and continuing to build out its pilot line.

The 18% Goods and Services Tax rate for solar cells and modules could pose significant threat to around 10 GW of ongoing utility-scale solar projects, says Bridge to India.