community solar

Community solar is poised to exponentially grow in the coming years through the IRA and other state-level legislations, as well as in agriPV.

The Ministry of Ecological Transition (MITECO) in Spain has published its proposal to regulate renewable communities in the country.

US utility Duke Energy has added 150MW worth of community solar to its Florida portfolio as part of its Clean Energy Connection programme.

US community solar developer Summit Ridge Energy has signed an agreement with solar PV manufacturer QCells to buy 1.2GW of solar modules. 

Canadian solar developer OYA Renewables has secured US$27 million in financing from City National Bank, the US subsidiary of the Royal Bank of Canada.

Last week’s collapse of Silicon Valley Bank (SVB) has brought doubts in terms of capital financing for the renewable industry with a big impact on the community solar market as the entity had financed up to 62% of the US community market.

Distributed energy platform Scale Microgrids has acquired over 100MW of community solar projects in New York from Netherlands-based developer Gutami.

Toronto-based renewables developer Amp Energy has agreed to sell 100% of the equity interests of its US subsidiary, Amp US, to asset management companies Fiera Infrastructure and Palisade Infrastructure Group.

US-based independent power producer Altus Power has reached financial close on 220MW of solar PV assets representing an investment of approximately US$293 million.

US community solar deployment is expected to more than double over the next five years despite 2022 seeing a 16% decline year-on-year, as the sector is set to see benefits from the Inflation Reduction Act (IRA) taking hold.