Markets & Finance

LONGi has chosen to develop back-contact (BC) cells, again based on n-type technology, announcing plans to invest RMB3.92 billion (US$536 million) on production. Future cells will be based on the company’s HPBC ‘PRO’ high-efficiency technology, with roll-out expected to gradually commence from November 2024, reaching full capacity a year later.

Polish renewables developer R.Power has secured a €75 million (US$79.5 million) investment from the European Bank for Reconstruction and Development (EBRD).

The new ESG standard is based on existing international standards. For companies active in the solar value chain, the new standard creates a “one-stop-shop to independently validate ESG commitment at production sites”.

Renewables investor Magnora ASA has sold a 90MW solar PV project in South Africa to independent power producer (IPP) Globeleq.

Mining major Rio Tinto and Aboriginal energy partnership the Yindjibarndi Energy Corporation (YEC) have signed a memorandum of understanding (MOU) to pursue the development of solar and wind projects in the Pilbara region of Western Australia.

Solar inverter producer SolarEdge's revenue in the third quarter of 2023 is expected to be about 20% lower than consensus due to cancellations and pushouts of existing backlog from European distributors.

JinkoSolar has agreed to supply 3.8GW of its n-type panels to energy company ACWA Power for use at two solar projects in Saudi Arabia.

The net income of JinkoSolar subsidiary Jiangxi Jinko has reached RMB6.54 billion (US$894.1 million) in the first nine months of 2023.

From 2023-2025, investments in Southeast Asian renewables will exceed US$76 billion, and this investment amount will likely continue to rise. 

A report from the University of Exeter has concluded that the world has reached “a global irreversible solar tipping point”.