Financial & Legal

Indonesia will increase its renewable energy budget by a factor of five, with rooftop solar to be a “top priority”, according to local press reports.

State-owned companies including the Indian Renewable Energy Development Agency (IREDA), Power Finance Corp (PFC) and Rural Electrification Corp (REC) plan to raise around INR50 billion (US$779 million) through the sale of tax-free bonds for renewable energy projects in India.

A proposed “sun tax” on use of batteries for residential self-consumption of solar energy in Spain could increase payback time from around 16 years to 31 years under a new draft Law put forward by the Spanish Government.

India-based solar developer Azure Power has applied for listing on the Nasdaq stock exchange, according to a local report.

First Solar and SunPower’s joint yieldco vehicle has commenced its initial public offering.

The construction of Kazakhstan‘s first utility-scale PV installation, which has already begun, will be supported with finance from the European Bank for Reconstruction and Development (EBRD).

Tier-one PV manufacturer Hanwha Q CELLS has issued a prospectus for offering American depositary shares (ADS) totalling a maximum of US$500 million.

Tier-one integrated PV manufacturer ReneSola already shifting its business model away from OEM production supply to bundled services as well as shifting its module sales to higher margin markets and away from the US and China with greater focus on its downstream project business.

PV project developer Solar Power, Inc (SPI) said it would certain assets of German-based PV distributor, Energiebau Solar Power. Financial details were not disclosed.

Singapore-based integrated PV module manufacturer REC Solar ASA has reported module sales down 16% quarter-on-quarter due to weaker demand in Europe and declining ASPs.