In January the South African government released an amendment to its energy action plan that lowered the local content requirements of solar modules deployed on government-backed schemes from 100% to 30%. The move was unsurprising to many, and may speak to the overwhelming rise of private projects in the country’s PV sector.
Saudi energy provider ACWA Power has signed agreements to develop 1.4GW of solar PV and 1.2GW of energy storage projects in Uzbekistan to be financed by the country’s Ministry of Investment, Industry and Trade.
Energy company Avangrid, a US subsidiary of Spanish major Iberdrola, has partnered with solar tracker supplier Array Technologies with the intent to deploy more than US$30 million of its solar trackers.
A provision under the US Inflation Reduction Act allowing for federal tax credit transfers for solar projects is creating whole new market, giving developers flexibility to sell such credits to third parties to capture maximum value or reduce risk, says a legal and commercial advisor.
Portuguese utility EDP has announced its investment strategy for the coming years, establishing a €25 billion (US26.5 billion) plan to achieve 33GW of deployed renewables capacity by 2026.
US solar tracker supplier Array Technologies expects to finish 2022 with a revenue of US$1.62-US$1.64 billion, an organic growth of nearly 50% from 2021.
