Investor news

The 102 MW Nyngan Solar Plant in Australia has become fully operational. The installation of the plant, which is now Australia’s largest, has been completed, with the array now connected to the grid and final testing currently being carried out.

Last year was said to be a benchmark for renewable energy, with renewables producing more power in Europe than nuclear for the first time. In yet another glittering solar industry report, SolarPower Europe further calculates cumulative solar capacity could reach 540 GW, globally, by 2020, with a record 40 GW installed in 2014. China is set to “frame global growth.”

Kazakhstan’s first large-scale solar project has received financial backing totaling EUR 83.8 million (around US$93.5 million) from EBRD and CTF. The 50 MW PV plant is scheduled for completion this July. A second project is already in the planning for owner Samruk-Kazyna United Green LLP.

Principal Solar Inc. is set to go public this week on the Nasdaq capital market. It is looking to raise up to US$26 million by selling up to 2.8 million shares. It plans to become the “world’s first distributed solar utility” and has identified targets, including SolarCity and TerraForm Power, which it could either partner with, or acquire. The U.S. solar company will also develop up to 500 MW of PV projects in Texas.

JA Solar Holdings Co Ltd has received a takeover bid from its chief executive officer and chairman for around US$489 million. Shares were up 12% following the news.

In separate announcements, U.S.-based SunEdison said it has won contracts for solar projects totaling 371 MW, while Germany’s juwi has begun construction on an 86 MW PV plant.

Canadian Solar Inc. has it secured US$53 million in project financing from Investec Bank plc for four solar PV plants totaling 40.2 MW in England. It also again mentioned the formation of a yieldco in the coming months.

SunEdison’s yieldco vehicle, TerraForm Power has acquired 23 MW of solar across 48 plants totaling 34 MW from a subsidiary of Integrys Energy Group, Inc. TerraForm will pay US$45 million and assume $10 million in project debt.

Turbulent times for Hanergy follow turbulent weather for Solar Impulse, but the tumult could not derail solar’s juggernaut, which enjoyed a series of positive news stories this week.

Canadian Solar, ET Solar and ReneSola are no longer exempt from punitive trade duties, having breached the terms under the minimum price agreement framework, which had negated their tariff exemptions. EU Prosun has said they are “just the tip of the iceberg” and that the investigation must be “immediately” extended.