finance

State-owned firm the Indian Renewable Energy Development Agency (IREDA) is to issue INR17.2 billion (US$257 million) in tax-free bonds from today for the financing of renewable energy projects in the financial year 2015/16.

Global corporate funding in the solar industry reached US$25.3 billion in 2015, with a record year for residential and commercial solar, according to consultancy firm Mercom Capital.

Yingli Solar will avoid the ignominy of a de-listing from the New York stock exchange following the announcement of a ten-to-one reverse stock split.

Concrete action in the Indian solar sector this year has countered scepticism over the 266GW of clean energy pledges made earlier this year, according to a new report.

Thin-film manufacturer and developer First Solar is among the investors in a US$50 million funding round for grid-scale storage specialist Younicos, with the money raised set to fuel the latter’s expansion.

The eligibility of energy storage systems for a programme financing energy efficiency and renewables through property tax assessment shows that the technology is maturing rapidly, according to the CEO of the North American arm of Sonnenbatterie.

The European Bank for Reconstruction and Development (EBRD) has allocated up to US$500 million in support of Egypt’s solar energy programme in 2016.

Solar independent power producer Etrion Corp has completed a €222 million (US$236 million) refinancing of the majority of its solar parks in Italy, which includes long-term, non-recourse bank debt and project bonds.

SolarCity’s chief operating officer Tanguy Serra has been promoted to the newly created role of president, while the company’s chief financial officer Brad Buss has announced his retirement.

The impact on the cost and availability of finance for solar projects in the wake of a successful Paris summit could be profound, writes John Parnell.