Finance

The Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Future Energy Co. (Masdar) have reached financial close on a 1.8 GW solar project – the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park in the United Arab Emirates. Masdar was chosen to build and operate the project after submitting a bid of $0.016/kWh – the park’s lowest levelized cost of electricity (LCOE) to date.

Native American lands boast serious PV potential in the United States but getting projects off the ground hasn‘t always been easy. Different tribes are willing to take power generation into their own hands and the landscape could be shifting, thanks to funding from the US Inflation Reduction Act (IRA) and other programs.

Swiss solar panel maker Meyer Burger will seek shareholder approval for a rights issue of as much as CHF 250 million ($284 million) to finance the completion of its US manufacturing facilities in Colorado and Arizona.

BloombergNEF says in a new report that corporations publicly announced 46 GW of solar and wind power purchase agreements (PPAs) in 2023, up 12% year on year. It says the increase was driven by a surge of activity in Europe.

Alpex Solar, an India-based solar manufacturer, says it plans to use the proceeds of its highly oversubscribed initial public offering (IPO) to expand its PV panel capacity from 450 MW to 1.2 GW, in addition to setting up an aluminum frame manufacturing unit.

The residential, commercial, industrial, and agricultural solar installer files for bankruptcy amid troubled macroeconomic conditions for distributed solar nationwide.

Tripling clean energy generation capacity to 11 TW by 2030 was a leading pledge from the United Nations’ (UN) climate change conference in Dubai. With few details about infrastructure and energy storage and no clear PV targets, however, it is hard to judge the effectiveness of the 28th global Conference of the Parties (COP) meeting. Angela Skujins considers possible impacts for the solar industry.

RWE and PPC have announced the final investment decision for the construction of a 450 MWp solar plant in Greece through their joint venture, Meton Energy S.A. RWE has also shared the details of a 35 MW/41 MWh battery storage project – its first utility-scale storage facility in the Netherlands.

REC Advanced Silicon Material LLC is shutting down one of its two polysilicon production facilities in the United States. It says the decision is primarily due to regional structural imbalances in supply and demand for electricity.

The Institute for Energy Economics and Financial Analysis (IEEFA) and auctusESG say in a new report that scaling up financing for renewable energy assets such as solar minigrids depends on the combination of private and public capital in a risk-adjusted return structure.