Financial & Legal

The EBRD has committed €100 million to Lithuanian renewable power developer Green Genius, to expand its work in Europe until 2029.

United Solar is currently building a 100,000 ton polysilicon factory in Oman which it expects to be operational in 2025.

In related Romanian news, Simtel has partnered with Monsson to develop, construct and sell 150MW of solar PV and/or hybrid projects.

South Africa's announced 10% import duty on solar modules poses challenges for developers with tighter profit margins.

Tata Power to build a 2GW module plant in India, while Vikram Solar filed draft papers for its IPO and build a 3GW cell and module plant.

BayWa has published its financial results for the first half of the year, which include total revenues of €10.7 billion (US$11.9 billion).

Investment manager Patrizia and Mitsui & Co have entered the Philippine solar PV market with binding agreements to acquire an interest in BEI, a rooftop solar PV developer.

Heliene has closed a US$50 million tax credit transfer sale to support its cell and module manufacturing expansion in the United States.

Meyer Burger has published its preliminary results for H1 2024, which include module sales of CHF43.4 million (US$51.5 million).

Reducing volatility impacts, managing cannibalisation and investing in grids will help solar energy cement its role in global energy systems.