Markets & Finance

Renewable energy investment fund manager Copenhagen Infrastructure Partners (CIP) launched its second Growth Markets Fund (GMF) this week (4th December), seeking US$3 billion in financing for renewable energy generation.

ReNew Energy Global and the Asian Development Bank have signed a deal to raise US$5.3 billion in funding for new clean energy projects.

US renewable developer energyRe has raised US$1.2 billion for a number of projects, including solar-plus-storage and transmission work.

Enfinity Global has secured €118 million to construct four utility-scale solar PV plants with a total capacity of 101MW in Italy.

UAE state-owned renewable energy developer Masdar has signed a number of solar PV and renewables agreements in small and emerging global solar markets.

Solar manufacturer GCL SI is among the companies that will be present at COP28 and with whom PV Tech was able to speak with Zhang Kun, executive president of GCL SI about what it expects from COP28, the pledge to treble renewable generation capacity and what the solar industry can bring to the conversation in Dubai.

The solar industry in California “has experienced devastating results in the form of business closures and depression-level layoffs”.

118 countries have signed the ‘Global Renewables and Energy Efficiency Pledge’ on Saturday (2 December) at COP28 in Dubai to treble global installed capacity by 2030.

North Macedonia has announced plans to deploy 1.7GW of renewable energy capacity by 2030 and entirely phase out its coal power generation fleet.

Under the agreement, bp will acquire the remaining stake of 50.03% in Lightsource bp at a base equity value of US$320.96 million.