finance

Recurrent Energy, the solar project development subsidiary of global solar manufacturer Canadian Solar, has secured a US$500 million equity investment from Blackrock, the world's largest asset manager.

Over the last six months, two major US utilities – American Electric Power (AEP) and Duke Energy – have been selling off their commercial solar PV assets to private investment groups and consolidating their operations in regulated markets.

US renewable energy developer Deriva Energy has acquired a 140MW solar PV project in Colorado from German solar developer JUWI.

According to Syliva Levya Martinez, principal analyst of North American utility-scale solar at Wood Mackenzie: “These are not the last of these types of transactions we’re going to see”.

FP Lux Group has purchased a 114MWp portfolio of solar PV projects in Italy from German renewables developer PNE in the first investment of its FP Lux Energy Transition Fund.

Corporate financing in the solar sector rose 42% in 2023 compared with 2022, according to Mercom Capital.

US distributed generation platform Aspen Power has secured US$241 million in three financing tranches to support construction of its future solar PV assets.

Governments and solar developers looking to widen the spread of residential solar PV in the US should look to deploy non-residential solar projects.

UK-based renewable energy developer SSE Renewables has acquired a 400MW solar portfolio in Poland.

Sonia Dunlop and Alyssa Pek of the Global Solar Council reflect on how solar's inclusion in the COP28 agreement can spur the industry to new growth.