Strategic Alliances

Innovative solar wafer company Nexwafe has closed its latest financing round with €32 million. The round was lead by the Indian group Reliance, which contributed €25 million to the round. The Freiburg-based wafer manufacturer intends to use the funds to drive forward the production and commercialization of its kerfless PV wafers.

Bangladesh has floated an international tender seeking engineering, procurement, construction and commissioning services for a 60-MW solar power plant in north-western Pabna district.

US data management company Iron Mountain has a growing portfolio of onsite and PPA renewables, and it’s one of the first major corporate firms to track its renewables by the hour as part of an innovative PPA that may serve as a forerunner for widespread 24/7 matching.

Belgian materials company Umicore has signed a contract with Australia headquartered Vulcan Energy Resources to purchase up to 42,000 tons of lithium hydroxide over a five year period beginning in 2025. The material will be used in Umicore’s production of cathode materials for lithium-ion cell manufacturers.

Fotowatio Renewable Ventures’ (FRV) Australian platform includes 637 MW (DC) in projects already operational or under construction, and a pipeline comprising 7 GW of solar projects and 1.3 GWh of battery storage.

The two countries have signed a memorandum of understanding (MoU) to develop a new subsea electricity line connecting their power systems. The power link, if built, could provide a route for African solar energy to reach European markets.

The French energy group has invested an undisclosed sum in Vietnam’s SkyX Energy. The goal is to install 200 MWp of C&I PV rooftop capacity in the country.

Reliance New Energy Solar has signed an agreement with Danish firm Stiesdal A/S to develop and manufacture Stiesdal HydroGen electrolyzers for green hydrogen production in India.

The Green Climate Fund has announced it will provide US$150 million in funding to the Desert to Power initiative – a project led by the African Development Bank and spanning several countries that aims to build 10 GW of PV generation capacity in various projects across the Sahel region to the south of the Sahara Desert.

India headquartered multinational Reliance Industries, through its subsidiary Reliance New Energy Solar Limited, yesterday announced the acquisition of Norway headquartered module manufacturer REC Group. The move comes as Reliance pushes forward with its US$10 billion plan to move in on the renewable energy industry, having also this week announced acquisition of a 40% share in EPC provider Sterling & Wilson.