Financial & Legal

French independent power producer Neoen’s 2021 revenue jumped 12% year-on-year thanks to the contribution of new solar projects in France and Argentina.

Indian independent power producer Azure Power has refinanced a 600MW PV project in India, the company's largest to date.

Spanish utility Iberdrola reported a €12 billion (US$13.6 billion) operating profit in 2021, which was 20% higher than 2020, and met its gross profit forecast for 2022 one year early, as its installed 3.5GW of renewables in 2021.

LG Electronics has confirmed it is to exit the solar module manufacturing business.

Washington state utility Avista has launched a request for proposals (RFP) for 196MW of winter capacity and 190MW of summer capacity by 2030, with the request also considering storage and demand-side response resources as the utility works to meet the state’s clean energy targets.

Norwegian start-up Otovo has secured NOK 300 million (US$33.7 million) through a private placement to support the expansion of its solar marketplace into six new European countries.

Tongwei has warned of ongoing tight supply of solar PV materials after recording a jump in 2021 revenue in excess of 50%.

New measures from Italy’s government to accelerate and simplify renewables deployment have been largely criticised by the country’s solar industry.

Renewables investor and developer Econergy has secured more than €200 million (US$227 million) through two joint ventures (JVs) to support the construction of part of its project pipeline in Eastern Europe.

French electrical equipment group Schneider Electric has acquired a controlling stake in EnergySage that will see the US-based solar marketplace provider look to scale its business globally.