German companies unite to bring virtual power plants to mid-sized businesses
Germany’s Electrofleet has invested in its virtual power plant technology partner Dieenergiekoppler. The two collaborate to enable mid-sized businesses to use self-produced renewable energy based on fixed price contracts. Dieenergiekoppler’s latest financing round solidified the collaboration.
Japan PPA market now includes solar carports
Sumitomo and Shikoku Electric have agreed to sell solar power to Japanese retailer Aeon Mall under a power purchase agreement (PPA). Around 15 MW of solar carports are now being developed to supply the electricity.
First Solar closes $700 million in tax credit transfer sales
US module manufacturer First Solar has closed the sale of US Inflation Reduction Act (IRA) tax credits.
SunPower breaches credit agreement, warns business may go under
SunPower, a publicly traded US solar company, has issued a warning about its business in a new regulatory filing, raising concerns about its ability to remain viable.
Octopus Energy Group receives $800 million investment
British renewable energy company Octopus Energy Group announced it would use a recent $800 million investment to “drive real scale” of heat pump manufacture and installation, and create 3,000 new jobs.
Adani Green Energy sets up new subsidiaries
Adani Green Energy has established two new units, Adani Renewable Energy Fifty One and Adani Renewable Energy Fifty Five.
PPAs offer protection
Europe is witnessing a surge in power purchase agreements (PPAs). Over the past four years, the number of European PPA transactions has trebled. More than 180 deals were signed in 2022 alone and the trend is expected to continue, especially for solar projects.
Swedish zinc-ion battery startup secures funding for megafactory
Enerpoly, a Swedish startup that produces zinc-ion battery storage systems with durations of two to 10 hours, plans to scale production up to 100 MWh per year by 2026.
Swedish battery maker Nilar files for insolvency
Nilar, a Swedish producer of nickel metal hydride batteries, has filed for insolvency and is now looking for a new owner.
India’s Alpex Solar preparing IPO in Mumbai
India’s Alpex Solar has filed a draft prospectus for an initial public offering (IPO) on the NSE Emerge trading platform in Mumbai. It plans to use the net proceeds to expand its PV panel capacity from 450 MW to 1.2 GW and set up an aluminium frame manufacturing unit.
