Financial & Legal

Financing for the solar sector grew 55% in the first nine months of 2023 compared with the equivalent period last year.

Solar manufacturer Maxeon Solar Technologies' shipments in the third quarter could drop by about 23% quarter-on-quarter to only 622MW due to a reduced shipments to a US customer and a drop in demand in the global distributed generation (DG) market.

The International Financing Corporation has signed a deal with Moroccan state-owned phosphate mining and fertiliser producer OCP Group to partially finance 400MW worth of solar PV.

Evergrow has claimed the first tax credit transaction using transferability under the Inflation Reduction Act for a solar plant in Connecticut.

Many large solar PV projects cross over First Nations land, and the representative body the First Nations Clean Energy Network (FNCEN) says that “proper and meaningful engagement with First Nations will be essential for the success of the renewable energy sector.”

French renewable power company Voltalia has sold a ready-to-build 420MW solar PV project in Brazil to energy company Newave Energia.

KGAL has signed a ten-year power purchase agreement with Edison to sell power generated from the former’s 150MW Tuscania solar project in Italy.

Virginia-headquartered energy utility Dominion Energy has filed a proposal with the Virginia State Corporation Commission (SCC) for 772MW worth of solar PV capacity in the state.

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.