Financial & Legal

Solar developer Heelstone Renewable Energy has closed a tax equity investment for four solar projects in Georgia, the US, with a cumulative capacity of 320MWdc.

The European Commission (EC) has granted €3.6 billion (US$4.04 billion) to 41 large-scale clean tech projects via the EU Innovation Fund, including three projects on PV modules under the clean tech manufacturing category.

German renewables developer MaxSolar has secured a €410 million (US$460 million) financing facility to support 2GW of solar PV and co-located storage projects in the next five years.

Chinese module manufacturer GCL System Integration (GCL SI) has estimated its preliminary net profit for the first half of 2023 to be around RMB100-120 million (US$14-16.7 million), up 160.6-219.9% from the same period last year.

Altaaqa Renewables has closed financing for its 119MWp Wadi ad-Dawasir plant, which will be built in Saudi Arabia.

Utility Enel has signed an agreement with Japanese energy company Inpex Corporation to sell half of its Australian operation for US$446.9 million.

Tom Kenning looks at the rise of solar power in Texas, a US state better known for its role in the oil and gas industry, where a beneficial tax regime and an abundance of project land work in favour of building out solar power generation.

The European Investment Bank has announced plans to increase its funding for its REPowerEU project by €15 billion.

Solar developer Aspen Power has secured US$90 million to continue developing its community solar, small-utility and commercial and industrial (C&I) projects.

The Canadian government will invest CA$160 million (US$121 million) into nine solar PV projects in Alberta totalling 163MW and 48MW of battery storage.