Finance

The off-grid solar supplier said the fact its latest finance package is denominated in local currency will help encourage African commercial banks to be more ready to back PV.

While East Africa – and Kenya is particular – has made great strides in the provision of off-grid solar systems, Central Africa is a long way behind, according to a new report from IRENA and the African Development Bank. In terms of investment, the study’s authors wrote, much, much more will be required to achieve universal electricity access this decade.

Ratings agency Crisil estimates India will have 38-43GW of annual solar module manufacturing capacity by the end of March 2025. Production capacity will be driven by strong domestic demand, favorable government policy, raised module conversion efficiency, and price competitiveness, according to the ratings agency.

With five public entities having committed RMB1.25 billion into a project to produce copper, indium, gallium, selenide solar modules five years ago, the joint venture has been abandoned at an estimated impairment cost of RMB1.42 billion.

Cape Town-based solar crowdfunding platform The Sun Exchange in April announced completion of its largest funding call, for US$1.4 million to finance what it described as a 510kW solar-plus-storage facility for Zimbawean food company Nhimbe Fresh. With the first part of a planned three-phase “going solar” transformation of the business complete, pv magazine spoke to The Sun Exchange founder and CEO Abraham Cambridge, and to Nhimbe Fresh chairman Edwin Masimba Moyo.

A worsening price shock, felt to different degrees across Europe, has now seen renewable power purchase agreement tariffs climb for three consecutive quarters. Despite that, however, developers and energy buyers are still signing contracts, with non-standard agreements on the rise, according to renewable transaction infrastructure provider LevelTen Energy.

The Italian energy major this morning announced it had acquired German-owned clean power developer Solar Konzept Greece.

The 11 planned off-grid networks will offer clean power to around 20,000 people for €0.28/kWh, according to one of the EU bodies which is backing the project.

LG Chem’s energy storage and battery division’s $10.7 billion initial public offering received a staggering response from institutional investors, Reuters has reported.

State-owned power generation company China Huadian Corporation has begun work on a 3.3GW solar site in Sichuan province. The project is one of nine renewable energy plants listed in China’s latest national five-year plan.