Solar PV and Storage System Prices Soar in Q1 2022 in the US: NREL

Solar PV and Storage System Prices Soar in Q1 2022 in the US: NREL

The National Renewable Energy Laboratory (NREL) has said that the prices of solar photovoltaic (PV) and storage systems soared in the first quarter (Q1) of 2022 compared to the corresponding ...
/ / Finance and M&A, Solar
AMEA Power to Invest $1.1 Billion in Egypt for 1 GW Wind and Solar Projects

AMEA Power to Invest $1.1 Billion in Egypt for 1 GW Wind and Solar Projects

Dubai-based renewable energy company AMEA Power will invest $1.1 billion in Egypt to develop wind and solar energy capacities of 500 MW each. The investment will take the company’s cumulative ...
Project Finance Brief: Sunwin Energy Sells Solar Project Portfolio in Italy

Project Finance Brief: Sunwin Energy Sells Solar Project Portfolio in Italy

From: Mercom Capital Group Sunwin Energy, a Switzerland-headquartered solar project developer, entered into a framework agreement with an undisclosed European public-listed energy company to develop a 375 MW solar project portfolio in Italy ...
/ / Finance and M&A, Solar
Laurus Labs to Buy Solar Via Open Access in Captive Mode from Vibrant Energy

Laurus Labs to Buy Solar Via Open Access in Captive Mode from Vibrant Energy

Pharmaceutical and biotechnology company Laurus Labs has acquired 26% equity shares in Ethan Energy, a special-purpose vehicle (SPV) of Vibrant Energy Holdings, for ₹39 million (~$477,744). The acquisition will allow ...
/ / Finance and M&A, Solar
Investments in the Indian Solar Sector Totaled $2 Billion in Q3 2022

Investments in Indian Solar Sector Totaled $2 Billion in Q3 2022

Investments in the Indian solar sector in the third quarter (Q3) of the calendar year (CY) 2022 totaled $2 billion (~₹161.1 billion), a 30% quarter-over-quarter (QoQ) decrease compared to the ...
Actis’ Renewable Business Acquires 404 MW Solar Portfolio from Atha Group

Actis’ Renewable Business Acquires 404 MW Solar Portfolio from Atha Group

Private equity firm Actis-backed BluPine Energy acquired 404 MW of solar assets from Kolkata-based mining company Atha Group. The company’s operational solar portfolio is spread across India. Actis said that ...
/ / Finance and M&A, Solar
Project Finance Brief: Duke Energy Subsidiary Acquires 100 MW Mississippi Solar Project

Project Finance Brief: Duke Energy Subsidiary Acquires 100 MW Mississippi Solar Project

From: Mercom Capital Group Duke Energy Sustainable Solutions, a subsidiary of Duke Energy, acquired the 100 MW Wildflower Solar Project from Clearway Energy Group, a U.S.-based clean energy developer. The construction of ...
/ / Finance and M&A, Solar
Canadian Solar's Q3 Net Income Soars 123% to $78.5 Million on Strong Demand

Canadian Solar’s Q3 Net Income Soars 123% to $78.5 Million on Strong Demand

Solar module manufacturer Canadian Solar reported a net income of $78.5 million for the third quarter (Q3) of the financial year 2022, a surge of 123% year-over-year (YoY) on the ...
/ / Finance and M&A, Solar
Battery Manufacturing Startup Clean Electric Raises $2.2 Million in Seed Fund

Battery Manufacturing Startup Clean Electric Raises $2.2 Million in Seed Fund

Clean Electric raised $2.2 million in a seed round led by a Bengaluru-based early-stage venture capital firm Kalaari Capital, to produce 5,000 electric vehicles (EV) battery packs monthly from a ...
Soltec Power Swings to €14.5 Million Profit in Q3 on Better Demand

Soltec Power Swings to €14.5 Million Profit in Q3 on Better Demand

Solar tracker maker Soltec Power Holdings swung to a net profit of €14.5 million ($15.1 million) in the third quarter (Q3) of FY 2022, against a loss of €0.1 million ...
/ / Finance and M&A, Solar
Solar Glass Manufacturer Borosil Renewables’ Profit Dips by 29% YoY in Q2 FY23

Solar Glass Manufacturer Borosil Renewables’ Profit Dips by 29% YoY in Q2 FY23

Borosil Renewables, an India-based solar-glass manufacturer, recorded a profit after tax of ₹241.89 million ($2.97 million) for the second quarter (Q2) of the financial year (FY) 2023, a YoY decrease ...
/ / Finance and M&A, Solar
Project Finance Brief: Sonnedix Acquires 262 MW of Solar Projects in Portugal

Project Finance Brief: Sonnedix Acquires 262 MW of Solar Projects in Portugal

From: Mercom Capital Group Sonnedix, an independent power producer, acquired 262 MW solar PV projects in Portugal. The portfolio comprises seven ground-mounted projects either under construction or late-stage development throughout the country. The ...
/ / Finance and M&A, Solar
Shoals Technologies’ Q3 Net Income Soars 142%

Shoals Technologies’ Q3 Net Income Soars 142%

Manufacturer of the solar balance of system (BOS) components Shoals Technologies Group recorded a net income of $12.9 million in the third quarter (Q3) of FY 2022, a 142% jump ...
/ / Finance and M&A, Solar
Wind Turbine Manufacturer Suzlon’s Profit Soars to ₹564 Million in Q2 FY23

Wind Turbine Manufacturer Suzlon’s Profit Soars to ₹564 Million in Q2 FY23

Indian wind turbine manufacturer Suzlon Energy posted a net profit of ₹564.7 million (~$6.95 million) during the second quarter (Q2) of the financial year (FY) 2023, an increase of 555% ...
FTC Solar’s Q3 Loss Widens to $25.6 Million

FTC Solar’s Q3 Loss Widens to $25.6 Million

U.S.-based solar tracker systems provider FTC Solar’s Q3 GAAP (generally accepted accounting principles) net loss widened to $25.6 million compared to $22.9 year-over-year (YoY) due to low demand induced by ...
/ / Finance and M&A, Solar
SBI Inks €150 Million Loan Agreement with KfW to Finance Solar Projects in India

SBI Inks €150 Million Loan Agreement with KfW to Finance Solar Projects in India

State Bank of India (SBI) has signed an agreement with Kreditanstalt für Wiederaufbau (KfW) to receive a low-interest loan of €150 million (~$150.66 million) to finance solar projects in India ...
/ / Finance and M&A, Solar
Array Technologies Swings to Profit in Q3 on Higher Sales Volume and Prices

Array Technologies Swings to Profit in Q3 on Higher Sales Volume and Prices

Solar tracker manufacturer Array Technologies swung to profit in the third quarter (Q3) of 2022 on the back of strong growth in sales volume and prices. The company’s quarterly net ...
/ / Finance and M&A, Solar
Project Finance Brief: Allianz Capital Partners Acquires 147 MW Solar Project

Project Finance Brief: Allianz Capital Partners Acquires 147 MW Solar Project

From: Mercom Capital Group Allianz Capital Partners, an asset manager, acquired the 147 MW Galloway 2 Solar Project from Avantus (formerly 8minute), an independent solar power developer in Texas, U.S. Avantus will ...
/ / Finance and M&A, Solar
Adani New Industries Q2 Revenue Down Marginally at ₹6.13 Billion

Adani New Industries Q2 Revenue Down Marginally at ₹6.13 Billion

Adani New Industries (ANIL) Ecosystem, a wholly-owned subsidiary of Adani Enterprises, posted revenue of ₹6.13 billion (~$74.77 million) in the second quarter (Q2) of the financial year (FY) 2023, a ...
/ / Finance and M&A, Solar
Wacker Group’s Polysilicon Segment Sales in Q3 Grew By 51% YoY

Wacker Group’s Polysilicon Segment Sales in Q3 Grew By 51% YoY

Munich-based chemical conglomerate Wacker Chemie AG’s third quarter (Q3) net income came in at €259 million (~$258.5 million), down 2.2% year-over-year (YoY) due to higher prices for energy and raw ...
/ / Finance and M&A, Solar
Residential Solar Company SolarSquare Raises $12.8 Million Series A Funding

Residential Solar Company SolarSquare Raises $12.8 Million Series A Funding

Mumbai-based rooftop solar start-up SolarSquare has raised ₹1 billion ($12.8 million) as part of its series A funding round led by Elevation Capital and U.S.-based climate-focused fund Lowercarbon Capital. Existing ...
/ / Finance and M&A, Solar
Project Finance Brief GridStor Acquires 2 GWh of Energy Storage Projects

Project Finance Brief: GridStor Acquires 2 GWh of Energy Storage Projects

From: Mercom Capital Group GridStor, a developer and operator of grid-scale battery energy storage systems, announced the acquisition of a portfolio of storage projects currently in development in the greater Los Angeles area ...
/ / Finance and M&A, Solar
Rewa Ultra Mega Solar’s 300 MW Floating Solar Tender Oversubscribed by 700 MW

Rewa Ultra Mega Solar’s 300 MW Floating Solar Tender Oversubscribed by 700 MW

The Rewa Ultra Mega Solar Limited’s (RUMSL) tender to develop 300 MW of floating solar projects (Phase II) at the Omkareshwar reservoir in Madhya Pradesh has been oversubscribed by 700 ...
/ / Finance and M&A, Solar
Tata Power's Renewables Business Revenue Up 7% YoY in Q2 FY23

Tata Power’s Renewables Business Revenue Up 7% YoY in Q2 FY23

Tata Power reported a profit of ₹18.19 billion (~$220.89 million) in 1H FY 2023, registering a growth of 87% over the same period a year ago. For Q2 FY 2023, ...
/ / Finance and M&A, Solar
First Solar to Build its Fourth Manufacturing Facility Worth $1 Billion in the US

ADB Approves $18 Million for Bhutan’s First Utility-Scale Solar Power Project

Bhutan is set to get its first utility-scale solar photovoltaic (PV) power project, with the Asian Development Bank (ADB) approving financing of $18.26 million for its construction. The project will ...