Companies

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.

Independent power producer Azure Power has turned to Ecoppia for robotic cleaning services for 400MW of solar PV.

French electrical equipment group Schneider Electric has acquired a controlling stake in EnergySage that will see the US-based solar marketplace provider look to scale its business globally.

Leading US solar installer Sunrun installed 792MW of solar capacity in 2021, a 31% growth on 2020, exceeding guidance, reflecting the highest growth rate in five years and bringing its total networked capacity to 4.7GW, according to its Q4 and full year 2021 financial results.