Finance

India’s cumulative solar capacity has surpassed 5 GW, with 1.385 GW installed this financial year. Around 18 GW in tenders are expected to be out by March 31. In related news, World Bank Group member, IFC has pledged its support to help fund the 750 MW Rewa ultra-mega solar power project in Madhya Pradesh.

SPI Energy Co. Ltd is transferring to the Nasdaq Global Select Market for trading from January 19, 2016, under the ticker symbol “SPI”. Chairman, Peng Xiaofeng is expected to ring the bell in New York.

In a busy week for Shunfeng International Clean Energy Limited, the Chinese company has issued a 2015 profit warning, where it expects consolidated profit to fall 90% YoY. It also now officially owns a 63% stake in Suniva; and has seen a 33 MW Australian solar project shortlisted for the next stage of competitive bidding.

A new report from IRENA has calculated that a 36% renewable energy share in the global energy mix by 2030 would boost GDP by up to US$1.3 trillion. Over 14 million new jobs would also be created, of which solar would account for 7.2 million.

The Canadian group is set to become an international independent power producer with a focus on Sub-Saharan Africa and Latin America.

U.S. presidential hopeful Hillary Clinton blasted retroactive changes to Nevada’s net metering law, Australia relaunched its investigation into anti-dumping case against Chinese solar producers and India continues to impress and attract new solar solar developers.

BNEF calculates that 57 GW of solar PV was installed last year, marking an increase of around 30% on 2014. Latest figures also show that, despite factors which could have impeded growth, clean energy financing reached US$329.3 billion in 2015. Chinese and U.S. markets led the charge, alongside a host of new markets; European activity, however, decreased.

Comtec Solar Systems Group Limited is looking to raise around HK$611.13 million (roughly US$78.8 million) via a subscription agreement with China First Capital Group Limited. Part of the proceeds will be used towards entering the downstream solar business.

An extraordinary shareholders meeting has today seen the merger of Enel Green Power S.p.A. (EGP) with its parent company, Enel S.p.A. approved.

It is “plausible” India will add 7.2 GW of utility-scale solar PV in the coming financial year, according to Bridge to India, despite bottlenecks in power evacuation and grid stability. In 2016, 4.8 GW is expected, while last year saw 2 GW installed. India is on track to become a global market, say the analysts.