Finance

According to the PV Market Alliance, 50 GW of solar PV will be installed globally this year. China, Japan and the U.S. will drive growth, while markets in Europe are expected to stabilize.

In a new report, Roland Berger Strategy Consultants predict solar PV could account for 12% of Europe’s total electricity production by 2030. It further looks at the challenges and opportunities decentralization is presenting utilities, including regulation.

Analysts say a massive 32 GW pipeline of utility-scale solar is under development in the U.S., with developers aiming to finish their projects by the end of 2016, when the Federal energy investment tax credit (ITC) expires. Almost half of this is set to be installed in leading solar state, California.

In another positive announcement for the U.S., a record 1.3 GW of solar PV has been installed in Q1. The residential sector boosted growth, installing more capacity than natural gas, thus highlighting the significance of its future role in the electricity market. Overall, solar accounted for 51% of all new energy generation brought online.

The 102 MW Nyngan Solar Plant in Australia has become fully operational. The installation of the plant, which is now Australia’s largest, has been completed, with the array now connected to the grid and final testing currently being carried out.

Last year was said to be a benchmark for renewable energy, with renewables producing more power in Europe than nuclear for the first time. In yet another glittering solar industry report, SolarPower Europe further calculates cumulative solar capacity could reach 540 GW, globally, by 2020, with a record 40 GW installed in 2014. China is set to “frame global growth.”

Kazakhstan’s first large-scale solar project has received financial backing totaling EUR 83.8 million (around US$93.5 million) from EBRD and CTF. The 50 MW PV plant is scheduled for completion this July. A second project is already in the planning for owner Samruk-Kazyna United Green LLP.

Principal Solar Inc. is set to go public this week on the Nasdaq capital market. It is looking to raise up to US$26 million by selling up to 2.8 million shares. It plans to become the “world’s first distributed solar utility” and has identified targets, including SolarCity and TerraForm Power, which it could either partner with, or acquire. The U.S. solar company will also develop up to 500 MW of PV projects in Texas.

JA Solar Holdings Co Ltd has received a takeover bid from its chief executive officer and chairman for around US$489 million. Shares were up 12% following the news.

In separate announcements, U.S.-based SunEdison said it has won contracts for solar projects totaling 371 MW, while Germany’s juwi has begun construction on an 86 MW PV plant.