Major China-based PV module manufacturer Risen Energy, which entered PV Tech’s Top 10 module manufacturer’s rankings for the first time in 2017, has reported that its operating income exceeded RMB 10 billion (US$1.56 billion) in 2017, a new record for the company.
The World Bank plans to make energy storage an integral part of its ‘Scaling Solar’ program, that until now has been focused purely on facilitating large-scale solar tendering, predominantly in Africa.
Leading PV module encapsulation and backsheet material supplier Hangzhou First Applied Materials Co, formerly First Photovoltaics (PV) was heading for a major collapse in its business profitability in 2017 but relocation compensation from a state land acquisition is expected to provide support to its profitability.
Fund manager Global Infrastructure Partners (GIP) and its co-investors have closed on their previously announced acquisition of 100% of the equity interest in renewable energy developer Equis Energy, in what is the largest renewable energy generation deal in history.
Leading solar PV manufacturing equipment supplier Meyer Burger has exceeded its revenue guidance as it discloses preliminary financial information for fiscal year 2017.
Yes Bank, India’s fifth largest private sector bank, has said it will mobilise US$1 billion of financing for solar projects in India up to 2023 and US$5 billion up to 2030, while at the International Solar Alliance (ISA) conference organised at World Future Energy Summit 2018 in Abu Dhabi.
The new chairman of the Global Solar Council (GSC), Gongshan Zhu the founder, chairman and largest shareholder in the largest group of affiliated companies in the solar industry, GCL Group wants its members to raise between US$3 billion and US$5 billion for a new foundation to fund PV power plant projects as part of China’s ‘One Road and Belt’ business initiative.
Dealing with module warranties from out of business manufacturers is a standard problem in today’s market, according to representatives from an advisory firm that oversaw one of the largest renewable energy deals to date.
Major oil company Shell and European utility ENGIE are among investors to have pumped US$20 million into Husk Power Systems, a developer of microgrids which is expanding its efforts in Asia and Africa.
Shell has signed an agreement to acquire a 43.83% interest stake in US solar developer Silicon Ranch Corporation from investment manager Partners Group for US$193-217 million.
