finance

Solar investors believe that Europe can be a competitive market for PV manufacturing and compete with the US Inflation Reduction Act (IRA), as ESG and energy security concerns will drive money to the continent.

Norwegian distributed solar marketplace Otovo has secured €120 million (US$130 million) in debt and equity financing to expand its residential solar portfolio across Europe.

Enfinity Global has signed a 10-year PPA with renewable energy generator Statkraft, producing 191GWh of electricity in Italy a year. 

NextEra Energy has reported a 16.1% increase in net attributable profit for 2022, while it has also introduced growth outlook through 2026.

Enlight Renewable Energy has filed for an initial public offering (IPO) to list its ordinary shares on the Nasdaq stock market in the US.

The European Investment Bank (EIB) has committed €28.5 million (US$30.8 million) to support the construction of 230MWp of solar PV projects in Greece’s Western Macedonia Region.

Lightsource bp has closed a tax equity deal, worth US$267 million, with financial services company Wells Fargo for a 481MW solar portfolio.

Following months of discussion and encouragement from the European solar industry, the EU has announced a multi-pronged scheme to drive renewable energy and clean technology development, with the aim of putting the European market at the forefront of the global energy transition.

Solar tracker manufacturer Soltec has signed a financing agreement with real assets investment advisory firm Incus Capital to fund its renewable asset management and exploitation business Soltec Asset Management.

Renewable energy investor and asset manager NextEnergy Capital has launched its most recent international solar capital fund, NextPower V ESG (NPV ESG), with a target of US$1.5 billion in capital commitments and a ceiling of US$2 billion.