Markets & Finance

Eritrea has secured about US$50 million from the African Development Bank (AfDB) to construct a 30MW solar PV project, hoping to increase the reliability of electricity supply and the share of renewable energy in its energy mix.

Vibrant Energy said the project financing worth INR22 billion (US$267.9 million) provided by Indian non-banking financial entity Power Finance Corporation will be used for the wind-solar hybrid projects located in Madhya Pradesh and Karnataka.

Solar Module Super League (SMSL) member Canadian Solar has consolidated its global solar development and services business under its Recurrent Energy brand, which was previously limited to its North America operations.

US community solar developer Summit Ridge Energy has signed an agreement with solar PV manufacturer QCells to buy 1.2GW of solar modules. 

PV manufacturer Huasun has signed a 1.5GW module supply deal with Bulgarian engineering, procurement and construction (EPC) company Inercom to run through to the end of 2025.

On April 6, TCL Zhonghuan announced its latest silicon wafer prices, which saw a general downwards trend despite module prices recovering.

French energy company TotalEnergies has revived its deal with the Iraqi Government to develop a 1GW solar PV project in the Basra region, part of a larger US$10 billion accord to also establish new gas generation and seawater treatment facilities.

Masdar has reached financial close on three PV facilities in Uzbekistan with a combined capacity of approximately 877MW.

UK-based energy group Octopus Energy has made its first steps in the Asian renewables market with an investment in Japanese solar developer Yotsuya Capital.

A Singaporean independent power producer (IPP) plans to develop 2GWp of solar PV projects in the Philippines by 2030, with 500MW already under development.