finance

Renewable energy is now a competitive alternative to fossil fuels, and more than 800 coal plants in smaller economies could be replaced by PV.

Recurrent Energy, the renewable energy developer arm of solar manufacturer Canadian Solar, has reached financial close on a 171MW solar-plus-storage project in Victoria, Australia.

This week, a number of solar developers have raised funds for a number of projects, including Sonnedix in Europe and Origis in the US.

French independent power producer (IPP) Neoen has secured AU$1.4 billion (US$890 million) in capital to fuel new solar PV, wind and energy storage projects in Australia.

Mini-grids are expected to play a crucial role in achieving complete electrification in Sub-Saharan Africa.

The sites are expected to generate over 120MW of solar power, Nexamp said, across the states of Maine, Massachusetts, New York, Illinois and Minnesota.

The successful projects of the first CIS tender round in Australia have been revealed, with 2.75GW of solar PV being awarded.

Swiss solar manufacturer Meyer Burger has secured US$39.48 million to support its restructuring operations and “stabilise” its business.

The company recorded losses of US$179.1 million in Q3, with revenues of US$88.5 million, in a continually difficult year.

US$14 million net losses for the quarter compared with net income of US$4 million in Q2 2024 and US$22 million in Q3 2023.