Canadian Solar has banked the cash for its growing portfolio of solar projects in a nation which had module demand of 5 GW last year.
An energy transition investment report published this week has also revealed the former world record low price for solar power announced by the Al Dhafra project in Abu Dhabi last year, has fallen even lower since.
The A-4 and A-3 auctions saw the participation of a huge amount of solar, wind, hydroelectric, and biomass projects.
Electricity bill payers in nations as diverse as Germany, Greece, India and China should be aware new solar projects can now generate electricity cheaper for them than legacy coal and gas-fired plants.
According to a recent report from Brazilian consultancy Greener, unsubsidized solar projects are proliferating in the Latin American country. The study also reveals that the utility scale PV projects that are in an early or intermediate stage of development, have a combined capacity of 98.9 GW.
The $18bn worth of sustainable finance instruments floated in the nation last year marked a retreat from previous highs but, with most of the bonds issued from July onwards, the recovery is under way, according to the IFC, which is anticipating a more-than-$100 billion sector in emerging markets over the next three years.
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