Europe

The move is an effort to strengthen its financial position after reporting losses of €126 million in the first half of 2024.

SolarPower Europe has launched the International Solar Manufacturing Initiative (ISMI) to generate demand for European-made solar products.

SMA Solar posted preliminary net losses of €117.7 million (US$126 million) in 2024—down from €225.7 million in income last year.

Europe’s solar buyers are showing increased optimism for the sector, in spite of fluctuations in module prices across technologies.

Ellomay Capital has closed financing for a 198MW portfolio of solar assets it plans to build and operate in Italy.

Australia-based solar module recycling group Lotus Energy has confirmed it will build a US$250 million recycling facility in Saxony, Germany.

Tech and retail giant Amazon has secured 870MW of solar PV and wind power purchase agreements (PPAs) in Spain.

Iberdrola invested a record €12 billion into its operations in 2024, which yielded a 31% increase in operational solar capacity.

The portfolio will consist of around 1,100 ground-mounted, rooftop and carport projects built across France, which are expected to be completed by 2027.

The retreat on renewables has been described as a "last-ditch attempt to cash in" against the rising tide of the energy transition.