The Inflation Reduction Act (IRA) is set to boost investment into US renewable energy deployment and manufacturing from US$64 billion in 2022 to US$114 billion by 2031, according to research from Wood Mackenzie, though a mismatch between solar deployment demand and domestic manufacturing capacity may see the sector’s domestic profile lag behind.
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.
Spanish multinational electric utility company Iberdrola has partnered with Norges Bank Investment Management to invest in 1,265MW of new renewables capacity in Spain, with solar plants making up 80% of the portfolio.
Concerns have been raised that the US solar industry’s reputation could be impacted by underperforming assets if investors do not see their return profiles being realised several years down the line.
Nine Chinese companies have committed to a collective US$13.76 billion of investment in the Philippines’ renewable energy sector, set to develop solar, wind and energy storage assets.
Climate solutions investor Hannon Armstrong Sustainable Infrastructure Capital has closed investment in 1.3GW worth of solar and wind assets to be developed and operated by utility AES. The financing is spread across two programmatic investments of undisclosed value.
A subsidiary of PV cell producer Aiko Solar intends to participate in the capital increase of Qinghai Lihao Semiconductor Materials to improve the supply chain.
Canadian investor Ontario Teachers’ Pension Plan Board has signed an agreement to invest US$805 million in a convertible equity portfolio financing with NextEra Energy Partners to help it acquire a 2GW portfolio of solar, storage and wind assets across the US.
LONGi Green Energy Technology has signed an investment agreement to set up a 10GW monocrystalline module manufacturing facility in China’s Guangdong Province.
