finance

US solar and storage developer Strata Clean Energy has secured a US$300 million revolving loan and letter of credit facility to develop its diversified project pipeline of over 17GW.

European electric vehicle infrastructure company Allego has signed two ten-year power purchase agreements (PPA) for a total of 100GWh of annual power output. The deals are linked with a solar PV and a wind generation project.

SolarEdge has posted a downturn in Q3 financial results, which it attributed to a “slow market environment, in particular in Europe”.

The Australian Renewable Energy Agency (ARENA) will invest AU$11 million (US$6.9 million) in Australian solar technology company SunDrive Solar to support the commercial scale-up of SunDrive’s novel solar cell metallisation technology.

Ingka Group, the owner of Swedish shopping chain IKEA, has acquired a 300MW solar PV project in Dâmbovița county, Romania.

US-based independent power producer Enfinity Global has closed €300 million (US$316 million) in equity funding from global alternative asset manager ICG, with another €100 million expected to close within a year.

German technology group and PV component manufacturer Heraeus has acquired an undisclosed stake in French PV manufacturing startup Holosolis to support the development of its planned 5GW module assembly plant in Hambach, France.

Tech and delivery giant Amazon has added over 1GW of solar PV and wind capacity to its operations in Europe so far in 2023.

The US Department of Energy (DOE) announced a new tax incentive last week (19th October) for solar and wind projects in low-income and “underserved” communities, as well as Tribal lands.

Financing for the solar sector grew 55% in the first nine months of 2023 compared with the equivalent period last year.