Financial & Legal

North America will spend a cumulative US$12 trillion on renewable energy generation and its transmission by 2050, according to Norwegian-headquartered consultancy firm DNV.

In the last two weeks, new solar projects, or deals involving existing facilities, have been struck in Sweden, Senegal and Uruguay.

Spanish solar developer Solaria has signed off a financing framework with the European Investment Bank (EIB) for up to €1.7 billion (US$1.8 billion) to be deployed on 120 solar PV plants across Spain, Italy and Portugal.

Danish renewables firm European Energy has sold a 49% stake in its 304MW Kassø solar PV plant to Japanese conglomerate Mitsui & Co.

JA Solar has signed an agreement with the Paramount Group to provide PV modules to its under-construction 150MW solar project in Bangladesh.

US community solar company Nautilus Solar Energy has secured US$202 million for a 186MW portfolio consisting of mainly community solar projects.

With C&I financing more complicated than residential, tax incentives in the IRA have boosted interest from businesses to install solar.

Solar developer Lightsource bp has signed a long-term PPA with tech giant Microsoft for a 40MW solar PV plant in Poland.

US solar developer Recurrent Energy has closed financing for its upcoming 134MW Liberty solar project in the US state of Texas.

The Bank of Montreal (BMO) has donated US$3 million to California-headquartered non-profit GRID Alternatives to support the provision of low-to-no cost solar PV, storage and clean mobility programmes to “underserved families” in the Western US.