Financial & Legal

The European Commission has approved a €2.36 billion (US$2.6 billion) Hungarian scheme to accelerate investment towards renewables manufacturing.

US renewable power developer Invenergy has secured US$1.5 billion revolving credit facility from financial company Natixis Corporate & Investment Banking.

US solar installer Sunrun's installed solar capacity in the second quarter of 2023 increased by 23% quarter-on-quarter, while it also significantly improved its net income to US$55.5 million in Q2.

Israeli solar inverter manufacturer SolarEdge posted strong financial results for the second quarter of 2023 with record revenues from the solar segment of US$947.4 million.

Brookfield Asset Management and Indian conglomerate Reliance Industries have signed a memorandum of understanding (MoU) to pursue renewable energy manufacturing opportunities in Australia.

The US market shipped US$12.5 billion of modules in 2022, with the average dollar per watt value slightly increasing but still remains low, according to the country’s Energy Information Agency (EIA).

The US Department of Energy (DOE) has announced US$453.5 million from the Puerto Rico Energy Resilience Fund to install up to 40,000 rooftop solar PV and battery storage systems for low-income single-family households.

Microinverter supplier Enphase Energy has offered a lower-than-expected guidance revenue for Q3 2023, on the back of a stagnating second quarter.

Greek renewables developer Mytilineos has sold a 211MW portfolio of four solar parks to its compatriot fossil fuels company HELLENiQ.

The US's Council on Environmental Quality has proposed a rule that would streamline the permitting process for new renewable projects.