finance

International renewable energy provider GCL New Energy, a subsidiary clean energy conglomerate GCL Group has recently received the first tranche of tariff back payments in China totalling RMB 990 million (US$142.5 million).

US-headquartered high-efficiency PV module producer SunPower Corp is expecting to sell further assets and increase its loans in 2019 to avert bankruptcy due to looming liquidity issues as the company expects to remain loss making next year, while current net losses in the first nine months of 2018 have reached US$745.3 million.

‘Silicon Module Super League’ (SMSL) member GCL System Integrated Technology Co (GCL-SI) is planning to sell up to RMB 1.0 billion (US$144 million) of sales invoices to a third party at a discount to improve its cash flow position.

HSBC UK Pensions Scheme is to invest £250 million (US$329.9 million) in UK solar and wind farms under a new agreement with renewables investor Greencoat Capital.

Smart energy and inverter company SolarEdge will acquire the South Korean battery manufacturer Kokam.

British developer Solarcentury has sold an 80% stake in the 300MW Talayuela project in Spain.

Streamlining red tape, ditching subsidies for bill payers and improving investment conditions could see Egypt become a multi-GW market for solar.

Two of India’s coal giants will develop 3GW of solar in the country through a new joint venture company.

French developer and independent power producer (IPP) Neoen will look to raise in excess of €620 million when it floats on the Paris stock exchange.

The Danish Green Investment Bank has provided €16 million of funding for two projects in Denmark with a combined capacity of 32MW.