African Renewable Energy Fund raises $200 million
The fund supports small to medium-scale renewable energy projects in sub-Saharan Africa and provides both financial assistance and technical experience essential for smaller renewable schemes being implemented for the first time.
AES to issue solar asset-backed security
There have been only five public solar ABS deals to date totaling $560.5 million — four of which were issued by SolarCity.
Tianwei files for bankruptcy protection as solar debts mount
Baoding Tianwei Baobian Group Co., parent company of the solar firm, defaulted in April on a bond payment, becoming first state-owned Chinese firm to do so; bankruptcy filing issued this week as debts mount.
Spire considers sale of the company, assets
Despite a rebound in capital spending across the solar industry, the Massachusetts-based PV equipment maker has retained investment bank Mirus Capital Advisors to assess strategic alternatives.
NRG spins off its renewable energy business
NRG cites the need for its clean energy business to be nimble, lower cost, and cash sensitive, and will limit it to US$125 million in funding. NRG’s GreenCo will be a separate business by the beginning of 2016.
Phoenix Solar cuts profit target
The cancelation of a major PV project in Asia has forced the German company to lower its earnings forecast. Nevertheless, Phoenix Solar’s free order backlog far exceeds 2014 levels.
The pv magazine weekly news digest
Events at the Solar Power International exhibition in California complement a busy week for the U.S. solar industry, while Dubai’s grand plans and Trinas new business strategy also turns PV heads.
US: ITC extension will support steady solar growth, finds BNEF, SEIA report
Independent analysis of the impact of the Investment Tax Credit on the U.S. solar industry, commissioned by the SEIA, finds 22 GW of additional solar capacity will be added if 30% ITC extended to 2022.
What the new PM could mean for solar Down Under
Australia has its fifth Prime Minister in as many years, with the ruling Liberal Party having voted for 54-44 for Communications Minister Malcolm Turnbull to replace Tony Abbott as party leader. Turnbull has previously led the Liberal Party in opposition and is a supporter of strong action on climate change. The Liberals form government in coalition with the National Party.
California calls for 50% renewables in electricity by 2030
Late on Friday, the California Assembly passed a bill to raise the state’s renewable portfolio standard to 50% by 2030, the second-most ambitious mandate in the nation.
