Finance

The renewable revolution in India continues, as high ranking Indian official confirms that the country has been accepted for a $250 million loan from the New Development Bank, which is expected to be for solar projects.

Chinese firm Beijing Xiaocheng Company developed the 20 MW plant, which has been connected to the grid, and is helping Ghana overcome its power crisis.

While many analysts and observers had been expecting a bankruptcy filing by the end of the week, the company has instead revealed details of its financial position from negotiations with creditors.

On an interim analyst and investor call, the residential solar installer reports increased bookings and installed capacity in Q1, but also noted that installed costs have increased.

Findings of investigation by audit committee and independent directors attribute blame for failed Vivint Solar acquisition on ex-employee; critical of SunEdison’s optimistic financial reporting and uncontrolled cash forecasting process.

Data from the Advanced Energy Economy reveals more than half a million people in California work in the advanced energy industry; growth ratio of 18% last year six times faster than average.

Karnataka tender sets tariff of US 7.2 cents/kWh with domestic companies winning out. Just one non-Indian solar bidder won in an auction dominated by India’s power giants Adani, Tata, Acme Group and ReNew Power Ventures.

Finnish energy solutions provider Fortum announced plans to invest EUR 200-400 million in solar projects in India, while reports emerged that IDFC Alternatives is in talks to invest $90 million in ACME Solar projects in India.

Estranged yieldco of SunEdison finalizes $35.4 million deal for power plant built by Spain’s Solarpack Corp. Tecnologica SL as it seeks to stand apart from its beleaguered parent company.

Partnership between the two solar firms intended to reduce soft costs and eliminate upfront capital often required for U.S. businesses keen to adopt solar power.