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Seven key Asian countries collectively saved approximately US$34 billion in fossil fuel costs in the first half of 2022 through solar generation, according to research from Ember, the Centre for Research on Energy and Clean Air (CREA) and the Institute for Energy Economics and Financial Analysis (IEEFA).

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.

Global investment firm KKR has signed a US$400 million financing deal with Indian-based Serentica Renewables to expand its clean energy projects.

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.

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.

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

REC Group has landed an equipment supply agreement for its HJT PV modules with solar cell and module equipment maker Maxwell Technologies.

Tata Power has plans to expand its footprint in the Indian state of Rajasthan and bring its renewables portfolio there to 10GW in the next five years.

India’s residential rooftop solar capacity is set to increase 60% by the end of fiscal year 2023, according to a report by the IEEFA and JMK Research.

Waaree Energies has raised US$120 million from investors to expand its module and cell production capacity in India.