Investment

The supply of PV modules to the United States has been challenged by potential tariffs on goods shipped from four Southeast Asian nations that provide 80% of US solar panels. The disruption stems from an ongoing investigation into allegations of antidumping violations. US President Joe Biden has halted tariffs related for two years, but challenges still loom, reports pv magazine USA’s Ryan Kennedy.

An Inter-ministerial committee of the Greek government last week labeled a photovoltaic project, combining lithium batteries and an electrolyzer, a strategic investment meaning it can take advantage of fast licensing processes.  

There are three main drivers behind the continuing growth of solar today: the economics of energy, the energy crisis driven by the war in Ukraine, and a growing global focus on green and net zero initiatives. What matters is that these three drivers change the dynamics of investment – there is a growing body of capital looking to align with low-carbon, net-zero initiatives. Yet as the debate rages about operational versus overall sustainability, what is the future of solar for ESG finance?

Exus Management Partners has acquired 20 planned solar plants, totaling 1.06 GW of generating capacity, in northern Brazil. The plants all fall under the banner of the Riacho da Serra project, which Exus has acquired from developers Decal Renewables and Upside Value for BRL 3.5 billion ($650 million).

Norway based renewables investor Magnora has increased its stake in startup equipment supplier Evolar, which is aiming to bring a production line for perovskite solar cells to market. Magnora will now hold a 40.7% stake in the company as part of a long-term deal between the two, with options to further increase the stake available down the line.

PEG Africa, a company offering pay-as-you-go solar to consumers and businesses in West Africa has received a $5 million investment from European Union initiative ElectriFi. The company says it has now secured more than $50 million and plans a major expansion.

A report by Greenpeace has found in the five years since China announced the continent spanning ‘One Belt, One Road’ infrastructure plan, investment in Belt & Road countries has supported 12.6 GW of wind and solar power generation capacity. That compares with just 450 MW which came online in the territories before 2014. The initiative has also supported 68 GW of new coal capacity.

Azure Power has raised the capital since June 30th, and says it is “the largest amount of financing raised by a solar power company in India during this period”. Azure says the fund leaves it well positioned to deliver a 2 GW project pipeline.

The International Solar Alliance (ISA) received a significant boost at the New York One Planet Summit, with European Investment Bank (EIB) President, Werner Hoyer announcing a commitment to back the ISA in its expansion of India’s solar industry and the exchange of technology.

pv magazine’s Quality Roundtable at the 2018 Renewable Energy India (REI) Expo, took place in front of a packed audience. It discussed current problem areas in the India solar industry; how solar developers and solution providers can improve the quality of PV installations; and innovative financial instruments to reduce the cost of debt and scale up infrastructure investment.