Finance

Local lawsuits are reportedly set to cost the body set up to purchase clean power in Ukraine more than €24 million already, after the decision by the government in August to retroactively reduce FIT payments. Lithuanian clean power developer Modus Energy is preparing for its own suit, citing Ukraine’s international treaty obligations.

With the nation among the world’s top ten greenhouse gas emitting states, energy analysts from three policy advisories have spelled out how Jakarta could hit net zero by mid century rather than 2070, as currently planned. However, the energy transition would require uncharacteristically long term thinking.

The global off-grid solar appliance market began an uneven recovery from the worst ravages of the global pandemic in the second half of last year, according to market body GOGLA, but more finance and policy support must be made available to have any chance of achieving universal electricity access this decade.

The trade body has highlighted a lack of explicit PV industry support in EU member states which already host domestic manufacturers, such as Germany, France, Austria, Belgium and Lithuania, and says the focus on green hydrogen could exacerbate the solar trade deficit with Asia.

Companies can apply for incentives to set up gigawatt-scale solar factories in India. Applications can be submitted until June 30 and the list of successful recipients will be announced on July 26, with letters of award to be issued four days later.

Shareholders will vote on whether to approve the sale of ten solar farms to generate $320 million towards paying down its heavy debt pile.

Two PV farms planned in Sicily by Canadian Solar, with a total 12 MWp generation capacity, will sell the electricity they produce to Axpo Italia under a ten-year PPA at a fixed rate which the Chinese-Canadian company did not reveal.

Politicians across the continent will have to decide between their heavily-indebted state utilities or embracing the energy transition, according to one energy analyst.

The Chinese polysilicon manufacturer said it only discovered this month that the stock in its solar project division – which it had pledged to secure a $60 million loan which GCL says was never delivered – had been claimed by the lender a year ago, on the grounds the finance agreement had been breached.

Deloitte has walked away from the polysilicon manufacturer, despite the latter having followed the accountant’s recommendation to appoint a third party to investigate why a near-$80 million payment was made in September 2019. Apparently the parties could not agree the detail of the investigation to be carried out.