solar investment

Latin America has the potential to unlock billions in clean energy investment if it aligns national policies with global sustainability goals and investor expectations.

Argentinian renewables developer Genneia has invested US$250 million to build two solar plants in Argentina with a combined capacity of 273MW.

Investment in solar PV is expected to surpass all other generation technologies combined with over US$500 billion, according to a report from the International Energy Agency (IEA).

Global investment in solar in the first half of 2023 increased by 43% year-on-year (YoY) to reach US$239 billion, but renewable energy investment was still far below the required amount to reach the net zero goal by 2050.

Three German solar PV companies have partnered to invest €2 billion (US$2.2 billion) to build a vertically integrated manufacturing capacity.

Tom Kenning looks at the rise of solar power in Texas, a US state better known for its role in the oil and gas industry, where a beneficial tax regime and an abundance of project land work in favour of building out solar power generation.

Australia’s Federal Budget 2023-2024 included AU$4 billion (US$2.71 billion) new investment in the energy transition, and confirmation of tenders for renewables and energy storage.

Solar projects accounted for 56.5% of the total utility-scale clean energy investments from 16 August 2022 to 31 March 2023.

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.

Solar PV will lead the energy transition in Malaysia and could reach up to 153GW of installed capacity by 2050.