Financial & Legal

The International Finance Corporation (IFC) has finalised a US$653 million debt package for 13 solar projects at the Benban Solar Park, near Aswan in Egypt.

WElink Energy has started construction of a 221MW solar PV plant in Portugal that will not benefit from subsidies.

Scatec Solar and its partners have reached financial close for six PV projects in Egypt with a combined generation capacity of 400MW.

India’s Ministry of New and Renewable Energy (MNRE) is finalising laws that will include penalties for state governments and distribution companies (Discoms) that do not honour power purchase agreements (PPAs), according to power minister R.K. Singh.

Single-axis solar tracker firm Soltec, headquartered in Spain said it expects to double its turnover and supply more than 1.1GW of trackers in 2017.

Thin-film manufacturer First Solar reported record Q3 bookings of 4.5GW taking the company’s order book to 7.4GW for shipments out to 2020.

The bank noted that more than five million people could be reached through solar PV.

RES Australia has reached financial close on the 68MW Emerald Solar Park in Queensland, Australia, with the company adding that construction of the PV plant will commence immediately.

International solar PV systems integrator Phoenix Solar has lowered its full-year revenue guidance a second time but added a profit warning as delays in project approvals increase due to the US ITC ‘Section 201’ trade case creating market uncertainty.

US-based investment fund Global Infrastructure Partners (GIP) and co-investors have acquired Singapore-headquartered Equis Energy, the largest renewable energy IPP in the Asia Pacific region, for US$5 billion along with assumed liabilities of US$1.3 billion.