Markets & Finance

Swiss independent power producer Etrion announced this morning that it has closed project financing on 34MW of solar PV projects that the company is building in partnership with Hitachi Hi-Tech in Japan.

Clean energy fund manager Glennmont Partners has raised €500 million (US$657 million). The fund, Glennmont’s second, exceeded its €450 million target.

Shunfeng Photovoltaic, the owner of module maker Suntech, has purchased insolvent German project developer SAG Solarstrom for €65 million (US$85.4 million).

Utilities must rise to the “challenge” of increasing renewable energy deployment, while disruptive threats posed to utility companies by distributed generation and renewables should be kept to a minimum, according to top names at the International Energy Agency (IEA).

Falling technology costs and scalability make solar highly suitable for the South American market, according to PV materials manufacturer DuPont.

GCL Poly has secured two new credit lines worth a total of US$490 million. Downstream affiliate GCL New Energy also confirmed it had secured a 95% interest in a project in Jiangsu Province.

US residential solar installer and leasing company Vivint Solar is preparing to make an initial public offering (IPO) of common stock, having made a filing with the US Securities and Exchanges Commission (SEC).

Suntech is targeting the South American markets and expects Brazil and Mexico to follow Chile’s lead on utility-scale solar.

Suniva will offer leases and PPAs to community groups through the partnership with TCC.

Major PV manufacturer Trina Solar took a hit on margins in the second quarter of 2014, while module shipments soared as China and US markets rebounded strongly.