Financial & Legal

Solar and storage investor CleanCapital has secured a US$500 million investment from Manulife, a global financial services group. This followed a US$300 million initial cash injection from Manulife in 2021.

The US solar industry had the most growth of any quarter in its history in Q1 2023, as delayed projects from 2022 came online and supply chain constraints showed signs of loosening.

Nobel Energy has signed a memorandum of understanding with Azerbaijan to develop a 400MW solar project in the western exclave of Nakhchiva.

Lithuanian software company PVcase has acquired US solar siting software platform Anderson Optimization.

US utility AES Corporation has added the 2GW Bellefield solar-plus-storage project to its portfolio after acquiring it from the project developer, Avantus.

The development-stage 490MW Duffy solar PV project near Houston, Texas has changed hands; nascent US independent power producer (IPP) Linea Energy has bought the project from London-based Horus Energy.

German renewables developer Blue Elephant Energy has acquired a 120MWp Chilean solar PV portfolio, expanding its presence in the country to 281MW.

The US Department of Treasury, Department of Energy and the Internal Revenue Service (IRS) have announced guidance on the Inflation Reduction Act (IRA), strengthening energy security and incentivising manufacturing and clean energy investments in coal communities.

Canadian renewables firm Westbridge Renewable Energy has entered into definitive agreements with Greek developer Mytilineos’ subsidiary, Metka, to purchase a portfolio of five projects in Canada.

British-headquartered oil giant Shell has acquired 1.1GW worth of solar PV projects from Spanish solar generation company Isemaren.