renewables

US residential solar installer Sunnova posted an improved adjusted EBITDA of US$14.6 million in the first quarter of 2023, while it is expecting a year-on-year increase of up to 114% in its adjusted EBITDA this year.

Microinverter supplier Enphase Energy is expected to ship 100MWh of batteries in the current quarter with the gross margin reaching more than 40%, while its net income in the first quarter of 2023 increased by 183.4% year-on-year.

Albania is set to launch a tender for 300MW of solar power as part of the European Bank for Reconstruction and Development’s (EBRD) renewable energy auction programme in the country.

Its deployed solar was up from 48MW in Q1 2022, but solar deployments dropped sequentially in Q1 2023 mainly due to volatile weather.

Spanish renewables developer X-Elio has secured €102 million (US$112 million) for three solar projects in Spain with a total capacity of 147MW.

The project is expected to be operational in the first half of 2024, with the total financial volume estimated at US$245.95 million.

US residential solar installer Sunnova has secured a conditional commitment from the US Department of Energy which will offer up to US$3 billion in a partial loan guarantee.

Inverter supplier SMA Solar Technology has started the construction of a 20GW inverter factory in Germany expected to be operational in 2025.

Globally, 32% of business leaders estimated that their country will fully transition to renewables after 2050, while 8% said it would never happen.

Procuring power purchase agreement tools will be an option for industry players amid an energy pricing crisis and volatility.