Markets & Finance

Spanish energy utility giant Iberdrola has appointed the former CEO of its US renewable energy development subsidiary, Avangrid, as its new head.

US EPC contractor SOLV Energy has acquired high-voltage (HV) transmission contractor Arizona-based Spartan Infrastructure.

The New South Wales government has earmarked AU$2.1 billion (US$1.36 billion) for transmission infrastructure to connect its Renewable Energy Zones (REZ) and support utility-scale renewable and energy storage projects.

Waaree Renewable Technologies has signed an MoU with Viet Khanh to establish a 100MWp solar project in the region. 

Independent power producer (IPP) Recurrent Energy has secured €61.5 million (US$71.4 million) in financing for its Italian renewables portfolio.

BluPine Energy has raised INR2,416 million (US$290 million) debt sanctions for its 150MW power project in Aland, Karnataka.

Imbalances in investment mean that action will be needed if the solar industry is to help meet the world’s climate change targets.

Independent power producer (IPP) Enery Development has formed a 50-50 joint venture (JV) with Romanian oil and gas producer OMV Petrom to build a 400MW solar PV plant in Bulgaria.

China notched up close to 100GW of new PV in May, in the processes surpassing a terawatt of cumulative installed capacity, figures show.

The volume of power purchase agreements signed in May has registered a low of 280MW, according to Swiss consultancy Pexapark.