solar investment

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.

Higher interest rates in the second half of the year slowed down corporate funding in the global solar sector to US$24.1 billion in 2022, according to research from Mercom Capital Group.