Markets & Finance

Plans to develop 700MW of desert PV capacity in Punjab, Pakistan, have been approved.

The installed capacity of utility-scale solar power in the USA has passed the 3GW milestone, according to solar project tracking firm Wiki-Solar.

A German government subsidy programme will trigger rapid growth in the solar storage market in 2014, according to research analysts IHS.

Italian minister of economic development, Flavio Zanon has announced reforms to Italy’s renewable energy incentives that will lengthen the payment period and release €3 billion to lower electricity bills.

Hanergy Holding is transferring the intellectual property (IP) rights to Solibro’s copper-indium-gallium-selenium (CIGS) thin-film technology to subsidiary, Apollo Kunming.

Renewable energy developer the Juwi Group has secured a €252 million (US$336 million) loan, calling it an “act of faith” in the sector.

Austria will install a record amount of solar PV capacity this year, according to the country’s PV trade group, Photovoltaic Austria.

To manage areas of high and low irradiance and prevent project clustering, China has introduced new tariffs based on geographical location.

Distressed capital management firms, Clearwater Capital Partners and Spinnaker Capital are working with Suntech Power Holdings to prepare a major restructuring plan for the ailing PV module manufacturing, including downsizing through asset sales and a recapitalisation that could mean majority share takeover by unidentified investors.

Japan’s Ministry of Economics, Trade and Industry (METI), has requested an increase in the nation’s clean energy budget of 62%, partly to help relieve bottlenecks of solar power projects.