Companies

Net revenues for the quarter (for both CSI Solar and Recurrent Energy, the manufacturing and project development businesses) were US$1.6 billion, a 23% increase from US$1.3 billion in Q1.

Singapore-headquartered renewable energy producer Vena Energy has signed an investment agreement with MGen Renewable Energy for a 550MW solar PV project in the Philippines.

Australian retailer AGL Energy has entered into a binding agreement to acquire solar and BESS developers Firm Power and Terrain Solar.

Chinese PV manufacturer Tongwei has announced plans to obtain a controlling interest in fellow Chinese company Runergy.

SMA Solar has published its latest financial results, reporting sales of €759.3 million (US$829.4 million) in the first half of the year.

At the same time, the company said that US trade laws and tax credits had created some uncertainty in the solar project market.

Australian startup SunDrive Solar has revealed that it has undergone a restructuring of the company, resulting in job cuts, as it looks to “sharpen focus on solar”.

In the three months to 30th June 2024, SunRun generated total revenue of US$523.8 million, down YoY from US$590.1 million in Q2 2023.

This is JERA Nex’s first foray into the US solar market and was executed in partnership with JERA Americas.

The €50 million green loan will support the design, construction and operation of five solar PV projects in Castilla y Leon and Extremadura.