Markets & Finance

The International Financing Corporation has signed a deal with Moroccan state-owned phosphate mining and fertiliser producer OCP Group to partially finance 400MW worth of solar PV.

The EU will now meet 42.5% of its energy demand with renewables by 2030, up from the 40% originally included in the REPowerEU scheme.

Evergrow has claimed the first tax credit transaction using transferability under the Inflation Reduction Act for a solar plant in Connecticut.

Norwegian energy company Statkraft has announced that president and CEO Christian Rynning-Tønnesen will leave the company after more than 13 years in office.

Many large solar PV projects cross over First Nations land, and the representative body the First Nations Clean Energy Network (FNCEN) says that “proper and meaningful engagement with First Nations will be essential for the success of the renewable energy sector.”

Sunstone Credit on its takeaways from the RE+ event and the biggest trends looking forward for the US solar industry.

French renewable power company Voltalia has sold a ready-to-build 420MW solar PV project in Brazil to energy company Newave Energia.

KGAL has signed a ten-year power purchase agreement with Edison to sell power generated from the former’s 150MW Tuscania solar project in Italy.

UAE power company Masdar has signed a memorandum of understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to develop up to 10GW of renewable energy projects, including ground-mounted, rooftop and floating solar.

If Australia does not want to lose its international competitiveness as a renewables producer, the government will have to invest AU$100 billion (US$64 billion) in the next ten years, according to the sector's trade body the Clean Energy Council.