funding

India-based renewables developer Avaada Group has raised US$1 billion from asset owner Brookfield Renewable to fund the growth of its renewable energy platform in India.

Spanish utility Iberdrola has submitted proposal for 1.6GW PV module assembly plant to the European Commission’s (EC) Innovation Fund.

Solar module recycling company Solarcycle has secured US$30 million in Series A funding to increase its solar panel recycling capacity and expand materials re-manufacturing capabilities.

French financier Rgreen Invest and Echosys Advisory-backed investment advisor Echosys Invest have closed a new fund to finance solar power production across Africa.

Australia and Germany have collaborated to boost research into green hydrogen production with a A$110 million (US$77.8 million) investment in four projects.

Australia’s Renewable Energy Agency (ARENA) has awarded A$41.5 million (US$28.51 million) in funding to 13 research projects aimed at reducing solar costs.

The G7 initiative JETP has agreed to support Vietnam’s green energy transition and mobilise an initial US$15.5 billion of public and private finance over the next three to five years.

Newly launched solar inverter and solutions provider Solinteg has launched a range of new PV products in recent months as it expands its international presence and targets 2GW of production capacity next year, rising to 10GW in 2025.

Australian start-up SunDrive has secured A$21 million (US$13.2 million) in a Series A fund that will help commercialise its solar technology.

Renewables advisory firm Pexapark has secured €8 million (US$8.08 million) in a second round of Series B funding as it plots further expansion.