US solar and storage developer Strata Clean Energy has secured a US$300 million revolving loan and letter of credit facility to develop its diversified project pipeline of over 17GW.
Spanish developer Matrix Renewables has signed a 10-year 102MW solar PV virtual power purchase agreements in Spain with science and technology company Merck.
European electric vehicle infrastructure company Allego has signed two ten-year power purchase agreements (PPA) for a total of 100GWh of annual power output. The deals are linked with a solar PV and a wind generation project.
Norwegian independent power producer (IPP) Scatec has posted a weakened financial results for the third quarter of 2023, with year-on-year power production and profit dropping by 7.8% and 71.6% respectively.
US domestic solar company SunPower has lowed its FY2023 guidance due to reduced consumer demand, delayed revenue recognition from longer cycle times, and a net loss of more than US$30 million in the third quarter this year.
During the third quarter of 2023, renewables have installed a record 5.5GW of utility-scale renewable capacity, led by solar, according to American Clean Power Association (ACP).
Maria Popova of the European Federation of Energy Traders makes the case for power purchase agreements from renewable sources, as the sheer volume of renewables growth required to reach Europe’s climate target means that public financial support is unlikely to be sufficient for the task, and market-based instruments and mechanisms need to be deployed alongside.
