renewables

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.

After this transaction, SunPower can provide customers with loan options at tenors of up to 25 years through SunPower Financial.

Data from Gogla showed that the global off-grid solar sector had a record investment of US$746 million in 2022, increasing by US$289 million or 63% year-on-year.

Eritrea has secured about US$50 million from the African Development Bank (AfDB) to construct a 30MW solar PV project, hoping to increase the reliability of electricity supply and the share of renewable energy in its energy mix.

Vibrant Energy said the project financing worth INR22 billion (US$267.9 million) provided by Indian non-banking financial entity Power Finance Corporation will be used for the wind-solar hybrid projects located in Madhya Pradesh and Karnataka.