Marubeni Corporation has signed off on an agreement to acquire a stake in Azuri Technologies, entering into the solar home systems sector for off-grid areas in Africa. As a result of this deal, Marubeni’s investment will make the company the largest shareholder of Azuri.
Saudi Arabia’s omittance of the lowest ever solar bid from the final shortlist of its 300MW solar tender may have been a measure to restore investor confidence in the future of the market, according to a representative of global analyst firm GTM Research.
UPDATED: Saudi Arabia’s Renewable Energy Project Development Office (REPDO) has shortlisted local firm Acwa Power and a consortium led by Japanese conglomerate Marubeni Corporation to develop 300MW of solar PV in Sakaka, Al Jouf.
An Asian consortium involving China-based PV manufacturer and developer JinkoSolar and Japanese conglomerate Marubeni Corporation has submitted the lowest ever bid for solar PV capacity in Abu Dhabi, standing at US$0.0242/kWh.