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Corporate power purchase agreements (PPAs) have hit record levels in the Asia Pacific region as fuel prices rise and the cost of renewables falls, according to Wood Mackenzie principal analyst, Kyeongho Lee.

Iberdrola targets to invest US$17 billion in renewables in the next three years and reach 52GW of renewables capacity installed.

US thin-film manufacturer First Solar recorded an operating loss of US$68 million in Q3 2022, which it put down to ongoing supply chain disruptions.

Iberdrola has recorded strong performances from its international assets, mainly the US and Brazil, driving its net profit up in Q1-Q3 2022.

The world installed around 174GW of solar PV in 2021, a 20% jump on the previous year, and is expected to deploy 260GW this year, barring any major disruptions to international trade.

The White House has praised Lightsource bp for “driving demand for made-in-America solar” via building 2GW of clean energy, representing more than US$2.1 billion of investments across the US.

Solar PV equipment provider Mondragon Assembly has received an order from BVG India to develop a multi-gigawatt automated PV manufacturing line.

Lightsource bp and the wholesale power provide Alabama Municipal Electric Authority (AMEA) have unveiled their 130MW Black Bear Solar project that will provide electricity to AMEA’s 11 member public power utilities.

Australian start-up SunDrive has secured A$21 million (US$13.2 million) in a Series A fund that will help commercialise its solar technology.

Solar project developer and asset owner Photon Energy Group saw its revenue soar last quarter thanks to elevated power prices in Europe.