Global investment in renewables rose to new heights in 2021 as solar and wind deployment surged, but total energy transition expenditure needs to triple in the coming years to get on track for net zero, according to new research from BloombergNEF.
Renewables owner and operator Brookfield Renewable has tripled its US development pipeline to 31GW through the US$650 million acquisition of clean power developer Urban Grid.
Hecate Energy’s first stage application for a 500MW solar PV plant in the state of New York has been accepted by the newly formed New York State Office of Renewable Energy Siting (ORES).
Italian asset manager Green Arrow Capital (GAC) has signed a framework agreement with Spanish solar company Progressum Energy Developments (PED) to acquire 508MW of ready-to-build solar PV projects in Spain in a deal worth over €400 million (US$446 million).
Major European solar developers have called on the European Union (EU) to develop a PV supply chain strategy to avoid cost increases and disruption to projects, with the group calling for 20GW of manufacturing capacity by 2030.
The CEO of US utility NextEra Energy has said that while he thinks it is “more likely than not” that the clean energy piece of the country's Build Back Better (BBB) bill gets acted on this year, the company doesn’t need policy support included in the legislation to achieve its targets.
Leading US solar installer Sunrun has upsized its loan facility to US$425 million from US$250 million at “enhanced terms and longer tenor” to reflect the company’s higher valuation and strong performance.
Proposed changes to California’s net metering (NEM) incentive programme will severely reduce residential PV’s value proposition in the state, cutting its solar market in half by 2024, Wood Mackenzie has warned.
Home security giant ADT is evolving from a security company to a smart home company, with around 80% of its revenue coming from its smart home business, said its president and CEO Jim DeVries
