Markets & Finance

The UK’s main support mechanisms for large-scale and rooftop solar look in doubt following the publication of two government consultations this morning.

Major PV inverter manufacturer Sungrow Power Supply is planning to increase manufacturing capacity by a further 5GW to meet expected strong demand in 2016 and onwards, driven by China and its growing international footprint.

SunEdison has continued its acquisition spree with the purchase of UK-based energy provider, Mark Group, for an undisclosed fee.

Private equity giant KKR has taken an 80% stake in developer Gestamp Solar.

Chinese conglomerate Tongwei Group has taken a 10% stake in Taiwanese cell manufacturer Gintech.

Major names including Bank of America, Citigroup, Barclays and UBS have aided Abengoa Yield to more than double its credit facility from US$125 million to US$290 million.

Deutsche Bank analyst Vishal Shah has said US installer SolarCity could be one of the indirect winners from news that SunEdison and its yieldco, TerraForm Power, are to acquire residential installer Vivint Solar.

PV developer SunEdison and its yieldco, TerraForm Power, are to acquire US residential PV provider Vivint Solar for around US$2.2 billion.

Major renewable energy provider SunEdison is launching its second yieldco firm, TerraForm Global today as well as an US$800 million ‘Green Bond’ for the yieldco due 2022.

Solar industry members have expressed concern that this week's record low bids for solar contracts in India may not translate into "workable" projects.