Financial & Legal

Southeast US utility Duke Energy has sold its distributed commercial generation portfolio – including solar PV developer REC Solar and all of its assets – to investment firm ArcLight Capital Partners. Financial details of the transaction were not disclosed.

The Asia Pacific (APAC) region is expected to invest US$3.3 trillion in power generation over the next decade, of which a quarter for solar alone, according to energy research company Wood Mackenzie.

National Grid Renewables has begun operations on the 247MW Yellowbud solar PV project, delivering power to Amazon under a pre-arranged PPA.

The EIA's latest figures reveal 6% decline in the average cost of building a new solar facility in the US between 2020 and 2021.

Canadian-headquartered solar-plus-storage developer Watt Renewable Corporation has secured a US$13 million investment to deploy hybrid corporate & industrial (C&I) solar solutions across Nigeria.

Ashtrom Renewable Energy has raised US$270 million in funding for its 400MWdc Tierra Bonita solar project in the US state of Texas.

Indian renewable energy firm Axis Energy Group has launched a joint venture (JV) with Brookfield India – the local arm of global investment firm and asset owner Brookfield – backed by an initial investment of US$845 million.

The US Department of Energy has agreed to supply up to US$3.3 billion in loan funding to US residential solar developer Sunnova.

UAE-based renewables developer AMEA Power has reached financial close on a 120MW solar PV project in Tunisia, the company’s first foray into the country.

US solar manufacturer Toledo Solar has settled its lawsuit with cadmium-telluride (CadTel) thin film solar manufacturer First Solar for an undisclosed amount.