solar finance

Government support will be a key component of the Spanish solar sector, says panellists at the Solar Finance & Investment Europe event.

German renewables developer MaxSolar has secured a €410 million (US$460 million) financing facility to support 2GW of solar PV and co-located storage projects in the next five years.

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

Solar developer Heelstone Renewable Energy has closed a US$175 million credit facility with investment company BlackRock.

Iberdrola increased its net profit by 12% to €4.34 billion (US$4.58 billion) in 2022, driven by strong performance in Brazil and the US, offsetting the impact of the energy crisis in the EU. 

German independent power producer (IPP) Encavis has shown an improved financial results with its EBITDA up by about one third.

Independent power producer (IPP) R.Power has raised €150 million (US$160.4 million) from the Three Seas Initiative Investment Fund (3SIIF) to continue its long-term growth strategy.

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.

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.