Financial & Legal

US-based start-up Terabase Energy has secured US$44 million in a Series B fundraising round co-led by Bill Gates’ Breakthrough Energy Ventures and venture capital firm Prelude Ventures among others to drive the commercialisation of  its automated solar park construction technology.

The Biden administration has launched a US$26 million fund project to demonstrate the US electricity grid can reliably run on renewables.

Following strong demand in the US market for residential solar, US solar installer Sunrun increased its customer additions by more than in Q1 and posted better-than-expected financial results, while still making a loss.

Daqo recorded its best production volume and profits quarter in Q2, primarily driven by a 28% reduction in its polysilicon production cost.

A continued demand from Americans for rooftop solar has led SunPower to add a record all time high of 19,700 customers in Q2 2022.

Last week, the Australian federal government proposed legislation that will lock-in Australia’s commitment to achieve net zero by 2050 as well as providing greater oversight and accountability over progress on climate change in a sharp departure from the previous administration.

Global investment in renewable energy reached a record half-year figure of US$226 billion in H1 2022, driven by soaring demand for clean energy technologies amid the ongoing energy and climate crisis, according to a BloombergNEF (BNEF) report.

Spain has started the process to celebrate a fourth round of renewables auction in November with 1.8GW of solar capacity to accelerate its electrification.

Inverter manufacture SolarEdge has posted record revenues and inverter shipments for Q2 as it benefited from strong demand for its products in the US and Europe, while addressing previous supply chain problems that had hampered performance in the previous quarter.

Spanish utility Iberdrola has entered into an agreement for the acquisition of 98MW of solar and wind projects in Poland with Augusta Energy.