Daily News Wrap-Up: Green Hydrogen Company Lhyfe Raises €17 Million

Maxeon Solar to offer 40-year comprehensive warranty on its IBC product line


Here are some noteworthy cleantech announcements of the day from around the world:

Green hydrogen company Lhyfe raised €17 million (~$19.51 million) from Andera Partners. This is Lhyfe’s third fundraiser. Most of the funds came from Andera Partners via its new green infrastructure investment fund Andera Infra. Ovive and the risk capital company Société Financière Lorient Développement also backed Lhyfe in this fundraising. The purpose of this third fundraising is to support Lhyfe’s strategy for the deployment of renewable hydrogen production sites in Europe. In September 2021, Lhyfe commissioned a 2.5 MW production facility in  France to generate up to a ton of green hydrogen a day using electricity sourced directly from a nearby wind farm by 2023.

Singapore-based solar cell and panel maker Maxeon Solar has started offering a 40-year comprehensive warranty on its Interdigitated Back Contact (IBC) product line, covering product quality and power performance. Its IBC products are marketed in most countries outside the US and Canada under the SunPower Maxon brand. The new 40-year warranty applies to residential and commercial systems installed on or after January 1, 2022, in select markets in Europe, the Middle East, Africa, Australia, Japan, and Mexico, with eligibility and terms varying by market. The company added that this compares with 12 years of product coverage combined with a 25-year performance warranty for most solar panels.

Independent power producer (IPP) Avaada Energy announced that it had commissioned 2.2 GW of utility-scale solar photovoltaic PV projects to date. The capacity is spread across nine states in the country. Last year, Avaada recorded an installation of ~1 GW, which the company claims is the largest among all the renewable energy IPPs in India. The milestone holds special significance considering that the feat was achieved amid challenges caused by COVID, which manifested into major challenges like supply chain disruptions in India and abroad, steep hike in raw material prices, workforce issues, etc. Avaada targets 5 GW installed capacity on the back of sound performance by Dec 2022 and 11 GW by 2025.

Minister of State, Ministry of Environment, Forest and Climate Change Ashwini Kumar Choubey notified Rajya Sabha that 30 projects across 27 States and UTs have been approved through the National Adaptation Fund for Climate Change (NAFCC). The National Adaptation Fund for Climate Change (NAFCC) was established to support adaptation activities in India’s states and union territories vulnerable to climate change’s adverse effects. The NAFCC projects implemented in Kerala, Tamil Nadu, and Andhra Pradesh include promoting integrated farming systems, management and rehabilitation of coastal habitats and biodiversity, and resilient climate interventions.