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Investment

Pay-as-you-go solar startup receives $5m from EU

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.

Chinese investment in renewables soars under Belt & Road initiative

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 raises $400 million in debt and equity

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.

International Solar Alliance boosted by EIB funds

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.

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pv magazine Quality Roundtable, REI: Innovation, investment and improving PV installs

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.

sPower refinances $499 million of wind and solar

The independent power producer has closed on a US$499 million, investment grade, private placement financing representing approximately 650 MW of utility-scale wind and solar power projects.

Mongolia’s largest PV power plant financed by EBRD & partners

The European Bank for Reconstruction and Development (EBRD) and investment partners will provide a $30.7 million syndicated loan to finance a 30 MW power plant, which EBRD says will be the first large-scale solar installation built in Mongolia.

Octopus Investments expands refinancing with GBP 80 million

Already managing one of the largest solar investment funds in Europe, Octopus Investments has added an additional GBP 80 million, and acquired a further 100 MW solar project.

Clean energy investment by non-OECD countries fell $40bn in 2016, but developed nations also slacking, finds BNEF

While China accounted for three-quarters of the investment reduction in clean energy in 2016, other non-OECD countries spent 25% less on renewables last year compared to 2015, according to BNEF and Climatescope data. 2009’s Copenhagen pledge by richer countries to support developing world also falling short.

Report: Global corporate funding of solar reached $4.6 billion in first half of 2017

Despite a robust first quarter, Mercom CEO Raj Prabhu says the uncertainty surrounding the Suniva trade case caused a dip in the second quarter and could have devastating effects going forward.

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