finance

US solar installer SunPower is to be hit by a cracking issue discovered in connectors associated with equipment installed in some commercial and industrial (C&I) projects, resulting in charges of around US$31 million.

Independent power producer (IPP) Cordelio Power has secured a 900MWac pipeline of solar projects in New York and Pennsylvania from project developer SunEast Renewables.

Solar project developer Eco Energy World is aiming to “aggressively” grow its US PV pipeline after formally entering the market last week and intends to replicate the cheaper engineering, procurement and construction (EPC) costs it sees in Europe in the country. PV Tech Premium speaks to CEO Svante Kumlin to find out more.

Raising more than US$1 billion in equity capital in the past year, US independent power producer (IPP) Silicon Ranch is looking to expand its model of developing, owning and operating large-scale PV plants while maintaining a strategy of co-locating projects with regenerative agriculture.

SMA Solar has cut its earnings forecast for the year by more than half pending a contract issue affecting its operations and maintenance business.  

PosiGen, a US provider of residential solar and efficiency solutions for low- to moderate-income (LMI) households, has secured US$100 million in preferred equity financing.

European solar investor NextEnergy Capital (NEC) has sold a 150MW portfolio of Italian solar assets to Rome-headquartered investment group Tages.

Indian renewables company ReNew Energy Global Plc’s wholly owned subsidiary India Clean Energy Holdings has raised US$400 million through a green bond sale that will be used to support the company’s growth strategy and “refinance existing high-cost debt”.

Alternative asset manager Blackstone will invest around US$3 billion in Invenergy Renewables to help drive an accelerated build-out of the solar and wind developer’s clean energy platform.

Prior to 2019, there was an ample number of insurers willing to provide renewable energy insurance, leading to plentiful, affordable cover being available for solar power project finance transactions. However, with increased claims and risks, price rises and lower availability of cover is impacting the sector. Duncan Gordon, head of Renewable Energy at specialist energy insurance brokerage and risk management firm Gallagher, provides an overview of how solar power project owners can navigate a challenging insurance market.