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Morgan Solar has closed the first installment of its Series B funding round with US$16.5 million. The funding will enable the company to increase its manufacturing and deployment for its Sun Simba concentrated PV module. Existing investors Inversiones Financieras Perseo, of the Iberdrola Group, and Nypro were joined by new investor, The Frost Group. Morgan Solar is in talks with strategic investors to close the remainder of the funding round.

SunPower and Xcel Energy have completed and commissioned the 19MW Greater Sandhill solar power plant in Colorado’s Alamosa County. Utilizing SunPower’s Tracker system, the PV power plant began to produce electricity at the end of December 2010.

Spain has made a decision to freeze the beginning of the country's €13.5 billion program to sell state-guaranteed power bonds until government debt-market volatility abates. Bank workers, who had begun calculating investor interest in the first tranche of bonds, will now have to wait until the yield stabilises on the country's debt.

SunPower and Iberdrola Renewables will be working together on the construction of a 30MW solar park in Colorado. Located on 216 acres of private land, which use to for agricultural purposes in Alamosa County, the San Luis Valley Solar Ranch will commence construction later this year with the plant expected to be in full operation by the end of 2011.

Spanish renewable energy generators Iberdrola Renovables, Acciona and EDP Renovaveis shares took a hard hit after a Spanish news site, El Confidencial, released information, which stated that the Spanish government is looking to possibly retroactively cut pre-2009 renewable subsidies.

Iberdrola recorded a net profit of €2,824 million in 2009, sustained by the group's success with regulated business and renewables throughout the year, which together counted for two thirds of the company's total operating profit.

Toronto-based start-up Morgan Solar said that it has increased its first-round investment funding to $8.2 million (US) from the $4.7 million announced in October 2009. Strategic investors in the initial round include Iberdrola, Nypro, venture capital firm Turnstone Capital Management (which led the round), and two unnamed Canadian VC groups.

Salt River Project (SRP) has announced that it is to establish Arizona state’s largest solar power plant in collaboration with Iberdrola Renewables. The 20MW PV power facility will be designed and built by Iberdrola, and, subject to SRP board approval, is scheduled for completion in 2011.

A 16-year veteran of the renewable energy industry, Jean M. Wilson has joined the SunPower team as Vice President and General Manager of the company’s utilities and power plants. This new role will include running SunPower's North American utility and power plant division, supervision of all project development and overseeing utility and Independent Power Producer partnerships, as well as marketing, EPC and component sales.