Finance

The Serbian Ministry of Mining and Energy has signed a memorandum of understanding (MoU) with Chinese companies Shanghai Fengling Renewables and Serbia Zijin Copper. It envisages the construction of 1.5 GW wind and 500 MW of solar projects alongside a green hydrogen production facility with 30,000 tons of annual output.

Sixty-one heat pump industry chiefs have signed a letter to European Commission President Ursula von der Leyen, warning that delaying the EU Heat Pump Action Plan jeopardizes a key net-zero European industry.

German chemical group Wacker Chemie says its sales fell 22% year on year to €6.40 billion ($6.9 billion) in 2023. Its polysilicon division contributed EUR 1.6 billion to sales, down from EUR 2.29 billion in the preceding year.

Mathias Muther, the founder of Aerocompact, says a new investment from private equity firm Trilantic Europe will allow the Austrian mounting system manufacturer to expand its international market presence.

Several companies have announced new hydrogen deals in Europe, as Germany moves forward on hydrogen collaboration with Australia and the United Arab Emirates. pv magazine also spoke with Thomas Hillig, managing director of THEnergy, about Europe’s electrolysis capacity.

Solar developer Alight will own and operate three solar parks under long-term power purchase agreements (PPAs) in Sweden. The projects are expected to generate at least 24 GWh combined, providing power to fashion retailer H&M.

A latecomer to the European PV party, Romania’s embrace of clean energy means it is perfectly placed to ride the wave of urgently ramped grid investment being rolled out by the European Union.

Mitsubishi HC Capital, a Japanese investment firm, has become the second-largest shareholder in Danish renewable energy developer European Energy A/S by acquiring the equivalent of 75 million shares. Knud Erik Andersen, the CEO of European Energy, says the transaction more than triples the company’s equity.

With so much of the space in United States cities allocated for parking, the dual pronged approach of the Inflation Reduction Act (IRA) – production tax credits to drive investment in domestic manufacturing and investment tax credits to attract consumer-side investment – means solar canopies can make a huge contribution to the net zero drive.

Netherlands-based Tibo Energy has raised €3 million from European early stage investors. Its software is used by businesses to manage and optimize their renewable energy assets and grid usage.