Markets & Finance

Q2 2023 was one of the lowest periods for financial commitments to future renewable energy generation projects in Australia since 2017, according to trade body the Clean Energy Council (CEC).

Iberdrola's US subsidiary, Avangrid, has begun construction on its 240MW True North solar PV plant in Falls County, Texas. The project has a power purchase agreement in place with social media and data giant Meta.

Solar Module Super League (SMSL) member Canadian Solar has lowered its 2023 revenue guidance primarily due to rapid decline in solar module prices in Q2.

Investment in renewables in Southeast Asian countries could reach US$119 billion by 2027 driven by wind, solar and geothermal projects, according to energy research Rystad Energy.

State-owned UAE renewable energy company Masdar has signed an agreement with Ethiopia to build 500MW of new solar capacity in the country.

ReNew Energy Global has published results for the first quarter of its 2024 financial year, which include profits of US$36 million.

US distributed solar supplier has acquired a portfolio of over 2,400 residential solar systems and contracts in the US.

GCL System Integration has agreed to supply 1.1GW of n-type solar modules to Indian renewables firm SAEL Industries.

Global investment in solar in the first half of 2023 increased by 43% year-on-year (YoY) to reach US$239 billion, but renewable energy investment was still far below the required amount to reach the net zero goal by 2050.

Polish renewables developer PAD RES has secured PLN240 million (US$58.7 million) in financing for the construction of 117MW PV plants in Poland.