Markets & Finance

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.

US solar developer Primergy Solar has closed commitments for US$300 million in debt and text equity investments for a 100MW solar project in Arkansas, US.

SB Energy has raised a massive US$2.4 billion in funding to support the construction of 1.3GW of new solar capacity in the US.

The Vista Alegre solar plant will supply electricity to aluminium producer Albras for 21 years through a power purchase agreement.

Renewable energy financier Excelsior Energy Capital has closed US$1.3 billion in financing for its recently-acquired 682.5MW Faraday solar PV project in Utah County, Utah, US.

Trina Solar has signed a supply agreement with Fiber X to supply modules and trackers to a project under development in Brazil.