project acquisition

Corporate funding in the global solar sector was dampened by inflation and high interest rates during the first nine months of the year, according to research from Mercom Capital Group.

Naturgy has bought a large-scale hybrid solar-plus-storage project in development in Australia.

Investment firm Exus has acquired 100% of the shares of Riacho da Serra Energia, and the project-related assets, from Decal Renewables and Upside Value.

Spanish utility Iberdrola has entered into an agreement for the acquisition of 98MW of solar and wind projects in Poland with Augusta Energy.

Independent power producer (IPP) Cypress Creek Renewables has acquired a 100MW solar asset in New York from developer Carson Power.

Corporate funding in the global solar sector in the first half of 2022 was down 11% year-on-year as activity dropped especially during Q2, according to research from Mercom Capital Group.

Canadian Solar has completed the sale of two PV plants with a combined capacity of 345MWp in the Australian state of New South Wales.

Solar developer Procon Solar GmbH has sold a 400MW PV project pipeline to German energy company EnBW, with the potential for this to double over the next year as EnBW targets 50% of renewables in its generation mix by 2025.

IKEA owner Ingka has acquired shovel-ready solar and wind assets in Poland from renewables developer OX2 in a €190 million (US$203 million) deal.

Total corporate funding of solar fell by 7% year-on-year to US$7.5 billion in Q1 2022, with Mercom Capital warning of “significant headwinds” that could slow momentum considerably.