BP has set lofty targets for its renewables ambitions, backing bifaciality and merchant revenue strategies to provide major boosts as it targets 50GW of renewable capacity by 2030.
Solar and wind power represent a US$1 trillion investment opportunity in Asia Pacific this decade, equivalent to two-thirds of the region’s power generation sector, as countries move away from fossil fuel generation in favour of greener alternatives.
Queensland’s three state-owned energy corporations will be able to increase their ownership of commercial renewable projects thanks to a new AU$500 million (US$364.45 million) renewable energy fund announced yesterday.
UK solar investor Foresight Solar Fund has agreed a €20 million deal to acquire a 26.1MW solar project in Spain, the company’s first in the country and its first ever subsidy-free solar investment.
Major PV inverter manufacturer Sungrow has reported a significant recovery in revenue and profitability in the second quarter of 2020, after financial figures suffered in the first quarter, due to the impact of COVID-19 on both its PV project and EPC business and demand for PV inverters in China.
Driven by declining module costs, solar was by far the world’s leading power-generating technology installed in 2019, making up 45% of new capacity, according to BloombergNEF.
Two more utility-scale solar projects in Texas with a combined capacity of more than 400MWdc have closed financing, continuing the Lone Star state’s booming solar run.
