Financial institutions have moved too slowly in increasing financing for renewables to help meet global 2050 commitments on net zero, said US environmental organisation Sierra Club.
Solar PV will play a more important role in Nigeria’s power supply as it plans to meet the growing needs of all sectors of its economy through renewables.
German rooftop solar installer Enpal has closed its Series D funding round with €215 million (US$230 million) in funding from a group of investors led by TPG Rise Climate, the dedicated climate-investing subsidiary of TPG Rise.
German independent power producer (IPP) ILOS Projects has secured a €500 million (US$531 million) structured finance facility from global energy and infrastructure investor EIG, intended to fund ILOS’s plans for over 2GW of solar and battery storage capacity by 2026.
Solar manufacturer CubicPV is planning to establish a 10GW mono wafer manufacturing facility in the US that it said will be the “first of this scale” in the country.
BP ventures, the investment platform of bp, has invested A$20 million (US$13.5 million) in Australian renewables company 5B to support the development and implementation of its 5B Maverick solar technology.
Global solar developer Lightsource bp has firmed up AU$540 million (US$365 million) in green financing to fund the development of two Australian PV projects in Victoria and New South Wales.
AMEA Power, the Middle Eastern renewable energy company, has closed financing on 1GW of renewable energy projects to be deployed in Egypt, constituting a 500MW solar PV plant and a 500MW wind farm.
