Companies

Corporate funding in the global solar sector reached a ten-year high in 2021 as the industry recovered from a COVID-affected 2020, new research from Mercom Capital Group reveals.

A round-up of the latest projects news, including EDP Renewables completing Indiana’s largest PV project, two Gulf utility companies pricing their first green bonds and an Australian utility linking its project to the national grid.

US independent power producer DESRI is planning to raise up to US$100 million in an initial public offering (IPO) that will see the company listed on the Nasdaq.

Solar module manufacturer Seraphim has launched its new S5 series of high-efficiency PV modules with a maximum power output of up to 670W and an efficiency of 21.57%.

Spanish energy company Iberdrola has bet big on the UK market through the acquisition on 17 solar PV projects from Elgin Energy and Lightsource bp, taking the firm’s share of UK solar from 2% to 9% and making it one of the biggest players in the market.

Module manufacturer and energy solutions company Q CELLS has entered into a strategic partnership with development and financing firm Kendall Sustainable Infrastructure (KSI) to collaborate on project co-development and financing.

Raising more than US$1 billion in equity capital in the past year, US independent power producer (IPP) Silicon Ranch is looking to expand its model of developing, owning and operating large-scale PV plants while maintaining a strategy of co-locating projects with regenerative agriculture.

SMA Solar has cut its earnings forecast for the year by more than half pending a contract issue affecting its operations and maintenance business.  

Reliance Industries has signed a Memorandum of Understanding (MoU) with the government of Gujarat for a total investment of INR5.955 lakh crore (US$80 billion) over 10-15 years to establish 100GW of renewables and set up green technology manufacturing facilities in the state.

Solar developer Invenergy has partnered with US-based investment platform Lafayette Square to form a joint venture (JV) that will develop and operate PV plants primarily serving low- to moderate-income (LMI) communities and areas disproportionately affected by the clean energy transition.