Finance

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Sunrise brief: U.S. government identifies 22 million acres for solar in western states Read More »

Following the investment round from Manulife Investment Management, NineDot Energy has now secured a capital base of $400 million. January 10, 2024 NineDot Energy, a developer of distributed community-scale battery energy storage in the New York City metropolitan area, announced it has secured a $225 million investment, led by Manulife Investment Management and Carlyle. Adding …

NYC area energy storage developer nets $225 million investment Read More »

BlackRock now holds a 15.8% stake in Israel-based inverter manufacturer SolarEdge, up from 9% in April 2023. The US investment firm began investing in the company in 2017 and is now its biggest shareholder, according to a statement to the US Securities and Exchange Commission (SEC). The new investment follows a difficult financial year for SolarEdge. …

BlackRock increases stake in SolarEdge to 15.8% Read More »

U.S. thin-film solar module manufacturer First Solar announced it closed two separate tax credit transfer agreements to sell $500 million and $200 million of Inflation Reduction Act advanced manufacturing tax credits. Under the tax credit transfer, Fiserv agreed to pay $0.96 per $1 of tax credits to First Solar during the first half of 2024, …

First Solar closes $700 million in tax credit transfer sales Read More »

The publicly traded solar company submitted a regulatory filing, raising concerns about its ability to stay in business. December 21, 2023 Residential solar company SunPower suffered a drop of over 40% in share price this week as it filed a quarterly earnings report that flagged a “going concern.” The concern was sparked by a technical …

SunPower breaches credit agreement, warns business may go under Read More »

Advantage Capital committed to invest in Sabanci Renewables’ 272 MW utility-scale solar project in Texas. December 19, 2023 Advantage Capital announced it has committed a $185 million investment in Sabanci Renewables, developer of the Cutlass Solar II project in Texas.  The Fort Bend County project is a 272 MWdc utility-scale project currently under construction about …

Texas solar project developer closes $185 million tax equity financing Read More »

Long has the renewable energy industry waited for this moment: Riding the momentum of the past decade, dominant renewable technologies have reached cost-competitiveness with fossil fuels, and other emerging technologies that support the decarbonization of food, water, and waste are diversifying a quickly evolving and expanding market. And, of course, the Inflation Reduction Act (IRA) …

Project finance management software for the energy transition Read More »

The energy storage provider beat fiscal year guidance for both revenue and adjusted gross profit. November 29, 2023 Fluence Energy, a global energy storage product and service provider, announced the financial results for the fiscal year 2023, ended Sep. 30, 2023. The company posted FY 2023 revenues of $2.2 billion and $673 million for the …

Fluence Energy achieves profitability, posts 85% revenue growth Read More »

Developers secured $1.3 billion in financing for a project in Utah and over $300 million each for project portfolios in Arkansas and the Dominican Republic. November 28, 2023 A record 413 GW of solar is expected to be installed in 2023, climbing high above 2022 totals of about 252 GW. This annual growth of installations …

Utility-scale solar projects secure billions in financing Read More »

The company’s revenues for Q3 pulled back 71% when compared with Q3 2022. November 15, 2023 Canadian Solar reported its Q3, 2023 earnings, noting a surprised miss on revenues and earnings per share. The major global provider of solar cells and modules and developer of utility-scale solar and energy storage projects recorded an earnings per …

Canadian Solar reports Q3 earnings miss, eyes strong 2024 growth Read More »