What’s behind the figure of US$58.8 million?

Facebook
Twitter
LinkedIn
Reddit
Email

News that Norsk Hydro has sold its stake in CIGS thin-film wannabe, Ascent Solar, for US$4 million, to another investor, TFG Radiant Investment Group, may not help the struggling firm with sorely needed cash injections, but it would indicate a level of ‘trust’ in the firm to help ride out the current industry-wide challenges.

However, looking at the investments made by Norsk Hydro since 2007 in Ascent, a rather scary picture emerges. In several significantly sized deals, Norsk Hydro invested approximately US$58.8 million in Ascent for roughly a 20% stake in the firm.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

That stake was sold to TFG Radiant for a loss of over US$54 million, barely 4 years later, indicating that there isn’t much to shout about.

 

Read Next

September 10, 2025
At RE+ 2025, companies launched AI-driven platforms, terrain-following trackers, low-carbon modules, and advanced energy management solutions for solar and storage.
Premium
September 10, 2025
PV Talk: Italy’s new CfD policy offers clear support for solar developers in an otherwise uncertain legislative landscape, says Terrawatt's Patrizio Donati.
September 10, 2025
A project claimed to be Germany’s largest agriPV plant has been commissioned in the north-east of the country.
September 10, 2025
Renewables developer rPlus Energies has secured US$100 million in tax equity financing for its 125MW solar PV plant in the US state of Idaho.
September 10, 2025
Indian solar module manufacturer Vikram Solar reported a 79.7% year-on-year increase in revenue for the first quarter of FY26.
September 10, 2025
Cordelio Power has started commercial operations at its 150MW Winfield solar project in Lincoln County, Missouri.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines