Markets & Finance

Nextracker is to be spun out from parent company Flex after it secured a US$500 million equity sale, valuing the business at around US$3 billion.

A round-up of the latest news from the US solar market, featuring the completion of a 250MW plant in California, an EPC deal for Black & Veatch in Texas and a new PPA from DESRI.

The Indian government’s budget announcement on Monday (1 February) is set to be a “game-changer” for domestic manufacturing following the imposition of a Basic Customs Duty (BCD) of 25% on solar PV cells and of 40% on solar PV modules from April this year.

PV manufacturer Maxeon Solar Technologies has revealed its SunPower Maxeon range of interdigitated back contact (IBC) modules are to be sold with an extended 40-year warranty.

A new policy in Italy that claws back the profits of solar PV projects will undermine investor confidence and jeopardise the European Union’s clean energy transition, a group of trade associations, including SolarPower Europe, has warned.

US utility Georgia Power has set out plans to procure up to 6GW of new renewable power by 2035, almost doubling its existing capacity.

US solar developer Sol Systems has acquired a 540MW portfolio of PV plants in Illinois from renewable asset manager Arevon Energy.

Solar is booming across Europe, producing 27% more power last year than in 2019, according to new analysis from energy thinktank Ember.

Energy storage software and services firm Stem, Inc said its acquisition of PV asset management company AlsoEnergy will allow it to “unlock significant value” within renewable energy after the transaction completed.

California’s energy transition will need 53GW of solar PV by 2045, with the state’s transmission system requiring a US$30.5 billion investment alongside major increases in energy storage to accommodate the extra power.