Financial & Legal

Mitsui & Co., a major Japanese industrial conglomerate, has formed a Joint Venture (JV) with leading India mini-grid developer OMC Power to expand their mini-grid business into Africa. The new JV is part of a ¥1 billion (US$9 million) equity investment by Mitsui in OMC Power.

Goldman Sachs Bank has agreed to purchase US$300 million in home solar loans originated by US home solar financing solutions provider Mosaic.

Solar FlexRack is to supply trackers to a 7MW Vermont solar project, Key Equipment Finance is supporting Boviet Renewable Power for a 1.75MW Georgia solar project, Coronal Energy and CVEC partner on Virginia solar.

The European Commission has approved replacing the current Minimum Import Price (MIP) for module imports from China with a new reduced price on a sliding scale mechanism, despite receiving almost negligible support from member states.

Canada-based Investment firm Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and developer CarbonFree Technology have agreed to acquire 15 ground-mount solar PV projects currently under construction in Chile with a combined capacity of 65MW from an unnamed developer.

The Asian Development Bank (ADB) has approved a loan of up to US$2 million to develop solar projects in Samoa.

Renewable energy developers SkyPower and Renew Power are involved in legal disputes with the distribution company (Discom) of the Indian state of Madhya Pradesh over solar project deadlines and PPAs, while SkyPower has also claimed to have successfully brought into operation its first ever project in the state.

Canadian Solar has acquired an 80.6MW solar PV project under development at Guimarania, in the state of Minas Gerais, Brazil.

Greenwood Energy closes on financing for a 26MW portfolio of US PV projects.

Various projects located in the 1.8GW Benban solar park will be co-financed by AIIB and the International Financial Corporation.