Companies

Global energy company AES added more than 2GW of renewables and energy storage to its portfolio last year as the business formally confirmed its intent to exit coal generation by 2025.

Lightsource bp is eyeing solar opportunities throughout Asian markets as it progresses towards its target of deploying 25GW of solar PV by 2025.

EDP Renewables (EDPR) plans to invest S$10 billion (US$7.39 billion) in renewables in the Asia Pacific (APAC) region by 2030 after closing its S$1.1 billion (US$813 million) acquisition of Singaporean developer Sunseap.

Leading solar manufacturer LONGi is to add another 4GW of cell manufacturing capacity later this year, diverting funds previously earmarked for a separate cell production plant.

French independent power producer Neoen’s 2021 revenue jumped 12% year-on-year thanks to the contribution of new solar projects in France and Argentina.

Spanish utility Iberdrola reported a €12 billion (US$13.6 billion) operating profit in 2021, which was 20% higher than 2020, and met its gross profit forecast for 2022 one year early, as its installed 3.5GW of renewables in 2021.

LG Electronics has confirmed it is to exit the solar module manufacturing business.

Norwegian start-up Otovo has secured NOK 300 million (US$33.7 million) through a private placement to support the expansion of its solar marketplace into six new European countries.

Tongwei has warned of ongoing tight supply of solar PV materials after recording a jump in 2021 revenue in excess of 50%.

Renewables investor and developer Econergy has secured more than €200 million (US$227 million) through two joint ventures (JVs) to support the construction of part of its project pipeline in Eastern Europe.