Financial & Legal

Southern Power, a subsidiary of Southern Company, has acquired a 51% stake in the 200MW Garland PV project in California by signing an agreement with Canadian Solar subsidiary Recurrent Energy.

Yingli Solar will avoid the ignominy of a de-listing from the New York stock exchange following the announcement of a ten-to-one reverse stock split.

Samsung Renewable Energy, through its partnership with Connor, Clark and Lunn Infrastructure (CC&L Infrastructure), has closed on US$195 million of debt financing for a 50MW solar project in Windsor, Ontario.

Concrete action in the Indian solar sector this year has countered scepticism over the 266GW of clean energy pledges made earlier this year, according to a new report.

Bluewave, a Boston-based developer of solar projects, claimed that it has “secured US$100 million” for community solar from a subsidiary of multinational investment house Morgan Stanley.

Thin-film manufacturer and developer First Solar is among the investors in a US$50 million funding round for grid-scale storage specialist Younicos, with the money raised set to fuel the latter’s expansion.

Brazil’s Development Bank (BNDES) has raised US$100 million from three Japanese banks in order to invest in clean energy projects.

GCL New Energy Holdings, parent company to GCL-Poly and developer GCL New Energy, has issued a profit warning to the Hong Kong Stock Exchange, with which the company is listed.

Two contracts worth almost US$2 billion have been cancelled by troubled Chinese manufacturer Hanergy Thin Film Power Group.

The eligibility of energy storage systems for a programme financing energy efficiency and renewables through property tax assessment shows that the technology is maturing rapidly, according to the CEO of the North American arm of Sonnenbatterie.