State-owned lenders will stump up cash to bail out developer Panda Green
With a $3bn debt pile, gearing of 73.1% and $127m due for repayment in around three months’ time, the directors of the former United PV Group want shareholders to dilute their investment by issuing shares worth more than 40% of an enlarged company, with a chunk of the proceeds coming from public funds.
First private PPA for utility-scale solar in Egypt is signed
The 25-year agreement relates to a 6 MW solar plant that will meet up to 4% of the electricity demand of a facility owned by the Arabian Cement Company, in Egypt’s Suez governorate. The project is being financed by local bank QNB AlAhli under the EBRD’s Green Economy Program.
China installed 44.1 GW of solar in 2018, according to official NEA data
The world’s biggest solar market reached a cumulative installed PV capacity of 174.63 GW at the end of last year.
The weekend read: Why are we not making the most out of big data analysis?
Although the solar industry sees itself as young, its assets are aging. Owners still struggle with the complexity of making the best use of big data analysis to improve plant efficiency and profitability. Ragna Schmidt-Haupt, of Everoze, examines why this has not changed, and what can or should be improved. Artificial intelligence, advanced data analytics, automated assessments and smart monitoring software – holistic solar asset management starts here.
11.7 MW of bifacial solar goes online in the Netherlands
The panels were provided by Chinese manufacturer Jolywood, which claims the Zonnepark Rilland project is the first utility-scale solar plant built with n-type bifacial modules in Europe.
Wacker’s polysilicon business sees profit and turnover fall
The Munich-based chemical company posted an increase in sales but the fall in polysilicon prices last year and the temporary closure of US production after a hydrogen explosion had a significant impact on the results.
‘A swift transition to renewables would be unfair and cause chaos’
In the face of increasingly strident global calls to turbocharge the switch from fossil fuels to clean energy, remarks from the Saudi and Emirati energy ministers in Abu Dhabi this week will do little to encourage hopes the world can contain global temperature rises below 1.5C.
Hanwha Q-Cells completes internal going-private reorganization
The South Korean PV manufacturer has finalized its plan to merge with Hanwha Solar. The company will no longer be listed on the Nasdaq stock exchange and will continue as a wholly owned subsidiary of Hanwha Chemicals.
Renewables, an antidote against volatile electricity prices for the EU
The European Commission says renewables are playing a central role in lowering spot prices and stopping rises in network charges and fees. In the EU energy market, however, coal and gas still dominate, ensuring power prices are unpredictable.
Google to build large solar plants in Tennessee and Alabama
The two biggest each have a capacity of 150 MW, with smaller plants bringing the total up to 413 MW. The projects are a part of the search engine titan’s effort to supply its annual electricity consumption from renewable sources.
