Financial & Legal

The Multilateral Investment Guarantee Agency (MIGA), an arm of the World Bank, will provide US$56.7 million investment for 80MW of solar power projects being developed by SunEdison in Honduras.

The yieldco of US utility NRG Energy has acquired a 25% stake in the Desert Sunlight project, thought to be the largest solar power plant in North America.

SunEdison yieldco Terraform Power will look to raise US$500 million with a fresh share offering.

The Obama Administration has announced US$4 billion of private-sector commitments to help fund innovation in clean technologies.

Tier-one PV manufacturer JA Solar is to form a special committee to advice on the offer from its chairman and CEO, Baofang Jin over taking the company private by acquiring all outstanding (ADS) shares listed on NASDAQ.

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.