Markets & Finance

The European Commission (EC) has approved a €2.9 billion (US$3.2 billion) French aid scheme supporting investment in green industries.

Indian independent power producer (IPP) ReNew Power has sold a 300MW solar project in Rajasthan for US$199 million to India Grid Trust.

Iberdrola says that of the agreed amount €170 million has already been committed to finance onshore wind projects in Poland.

GreenIT, an Italian joint venture by oil group Eni and state lender Cassa Depositi e Prestiti (CDP) Equity, has signed an agreement with renewables developer Galileo to build 140MW of solar PV in Italy.

The renewable industry is facing a perfect storm of factors leading to tighter business interruption and equipment breakdown insurance terms.

Chilean solar developer Verano Energy has sold a 150MWp solar PV project in Argentina to an unnamed company.

Chinese solar tracker manufacturer Arctech has expanded its business to Turkey by forming a partnership with Alpon Energy, a solar company specialised in solar trackers, as well as EPC works.

Despite having the ideal attributes to become a clean energy superpower, Australia has never quite lived up to its potential. Will Norman assesses the barriers and asks whether recent investment announcements could turn the tide.

“The formation of Solar Powers Illinois stems from the passage of critical legislation: the Climate and Equitable Jobs Act and the Inflation Reduction Act.”

Wind energy supplied 25% of the consumption in Portugal, followed by hydropower (23%), solar PV (7%), and biomass (6%).