Markets & Finance

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.

Fraunhofer ISE chief Eicke Weber will run for Germany’s Free Democratic Party (FDP) in regional elections.

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

India will install 31GW of solar capacity by 2019, which is short of a projected 69GW government target, but the market will still grow at an “impressive pace”, according to the latest forecasts from consultancy firm Bridge to India.

India has officially approved its well-publicised 100GW by 2022 solar capacity target after a meeting of India’s Union Cabinet, chaired by the Prime Minister Narendra Modi.

US installer REC Solar has acquired rival business Stellar Energy to bolster its US-facing commercial solar operations.

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.