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An increase in shipping times and freight rates due to violence in the Red Sea could carry implications for renewable energy and solar products heading to Europe and the US.

US solar tracker manufacturer Nextracker has seen high deliveries in its US business with a 70% year-on-year increase in the third quarter of its fiscal year 2024, driving 38% quarterly revenue growth.

US solar developer Vesper Energy has closed US$590 million in financing for its 600MW Hornet solar project in Swisher County, Texas.

Under the deal, SFK will purchase a portion of the RECs from the power developed at Clearway’s 452MW solar PV project in Texas, US.

In 2023, a collective US$1.8 trillion went towards energy transition technologies and their supply chains, including solar PV and other renewable generation, grids, electrified transport and clean tech factories.

Global renewables investment platform Qualitas Energy has acquired US solar and storage platform Heelstone Renewable Energy for an undisclosed sum.

Earlier this month California-based solar manufacturer Auxin Solar announced that it was suing the US Department of Commerce (DOC) and Customs & Border Patrol over unclaimed payments from the antidumping and countervailing duty (AD/CVD) tariffs.

German-based solar wafer producer NexWafe has expanded to the US and is exploring an initial development capacity of 6GW of solar wafers.

Over the last six months, two major US utilities – American Electric Power (AEP) and Duke Energy – have been selling off their commercial solar PV assets to private investment groups and consolidating their operations in regulated markets.

US renewable energy developer Deriva Energy has acquired a 140MW solar PV project in Colorado from German solar developer JUWI.