Solar Energy

Scatec ASA finalises financing for its hybrid solar-battery Obelisk project in Egypt, securing $479.1 million from international financial institutions for a planned capacity of 1.1 GW solar and 100 MW storage.
The 800 MW Horizeo photovoltaic project spanning 680 hectares in Gironde awaits governmental authorization linked to France’s Zero Net Artificialization (ZAN) objective to advance permits submitted in early 2024.

Global solar tracker market reaches 111 GWdc in 2024, says Wood Mackenzie

Global photovoltaic tracker shipments rose 20% in 2024, driven by India and Saudi Arabia, pushing the United States to a less dominant market position.
Chinese manufacturer Astronergy will supply its ASTRO N8 photovoltaic modules for a solar project developed in Spain by engineering firm GES Siemsa, marking a strategic advance in the European market.
SMEG and the City of Mâcon have started construction of a 6 MWc solar power plant on a former landfill site, with commissioning scheduled for early 2026.

Corsica Sole launches 5.4 MWc solar power plant on rehabilitated site in Lorraine

Producer Corsica Sole is inaugurating a 5.4 MWc photovoltaic plant in Cirey-sur-Vezouze on a former industrial site, with 8,700 panels and an estimated annual output of 6.1 GWh.
The Kashgar region has connected over 10 GW of solar projects to the grid, representing more than three-quarters of its total power capacity, initiating the development of a new power system in southern Xinjiang.
U.S.-based Soltage raises $260mn to support the construction of 250 MW in solar and storage projects within a development pipeline exceeding 2 GW.

Origis Energy secures $530mn financing for two solar projects in the United States

Origis Energy has closed financing for the Wheatland project in Indiana as part of a $530mn portfolio, in partnership with MUFG and several financial institutions.
Germany’s solar capture price fell to a five-year low in May, driven by rising negative price hours and excess photovoltaic capacity.
Albioma Solaire Guyane has commissioned five photovoltaic plants totalling 1.4 MWc, spread across Mana and Macouria, to strengthen local electricity supply in a region isolated from the national grid.

NOA and Standard Bank close financing for 349 MW Khauta South solar project

South African group NOA and Standard Bank have finalised the financing of the 349 MW Khauta South solar site, now the largest developed on a single site in South Africa.
Enfinity Global signed new power purchase agreements for a 420 MW solar portfolio with a US technology company operating in Italy, reinforcing its position in the Italian energy market.
The American solar sector saw strong industrial growth in Q1, but tax and trade uncertainties could hinder its momentum and affect local investments.

Top ten solar manufacturers ship 500 GW in 2024 despite $4bn losses

Global solar leaders doubled shipments in one year, but combined losses of $4 billion highlight intense margin pressure in the sector.
Growth in the U.S. solar sector is expected to slow by 2030 due to political shifts in Washington directly impacting tax incentives and imposing tariffs on essential materials, creating sectoral uncertainty.
The $176 million agreement between Pine Gate Renewables and Waaree Solar Americas strengthens the US solar supply chain with locally manufactured modules.

TotalEnergies acquires a portfolio of solar and battery projects in the United Kingdom

TotalEnergies has acquired a 350 MW portfolio of solar projects and 85 MW of battery storage in the United Kingdom, expected to be operational by 2028 and supplying the equivalent of 100,000 British households.
Tokyo Electric Power Company signed a financing agreement with Bank SinoPac to support a 40 MW rooftop solar project in Singapore, marking a first for the group in the Asia-Pacific region.
rPlus Energies finalised over $500mn in tax equity financing with RBC to support the construction of the 800 MW Green River Energy Center in Utah.
The Ivorian government has approved a 25-year concession for an 85,934 MWh solar power plant in Katiola under a public-private partnership with Swiss energy firm JC Mont-Fort.
German group Greencells strengthens its UK presence through an EPC and O&M agreement with Enray Power for a solar plant incorporating an energy storage system in North Yorkshire.

Urban Grid launches solar apiary in Virginia to strengthen its agrivoltaic model

Urban Grid sets up honey production at its Crystal Hill solar site, combining beekeeping and farming to trial new land management models.
Ecopetrol acquires Statkraft’s Colombian subsidiary, including eight projects under development and the 130 MW Portón del Sol solar plant.
French group Qair has begun construction on two hybrid solar plants in N’Djamena totalling 30 MWp with battery storage, under a 20-year BOOT contract with the Chadian government.

Third-party ownership reaches 72% of US commercial solar market in 2024

The third-party ownership model dominates non-residential solar installations in the US, according to Wood Mackenzie, with 2.1 GWdc installed in 2024, a record driven by the rise of transferable tax credits.
Enfinity Global secured a €100mn ($108.4mn) bond facility from Eiffel Investment Group to accelerate its energy storage and solar projects across Europe, mainly in Italy and the United Kingdom.
The Kuwait Authority for Public-Private Partnerships has launched a pre-qualification process to build two photovoltaic plants in the Al Jahra region.

Iberdrola Italia inaugurates its third photovoltaic plant in Tarquinia

Iberdrola Italia has inaugurated a new photovoltaic plant in Tarquinia with a capacity of 33 MW, aiming to produce around 50 GWh of solar electricity per year to support industrial electrification.
SOLV Energy announces contracts totalling more than 6 GW of solar and storage projects in the United States, with construction launches expected as early as 2025. The projects will span several states including Arizona and California.
China added 59.7 GW of photovoltaic capacity in Q1 2025, surpassing coal power generation capacity for the first time, according to the National Energy Administration (NEA).

Engie cancels hybrid solar and battery project in Yass following community objections

Engie cancelled its hybrid solar farm project in Yass after local opposition. The company is now considering installing only a battery system on the site, responding to community concerns.
The Chisamba solar power plant, a major private project in Zambia with a $71.5 million investment, has reached 91% completion, aiming to bridge a structural energy deficit through a strategic partnership with a leading mining group.
Close Brothers funds the construction of an 8.99MWp solar plant in Rhigos, marking a new phase in a £200mn partnership with Enviromena.

RWE installs 141,000 solar panels on mining land along the A44n motorway

RWE is developing over 86 MWp of solar capacity on recultivated land in the Rhenish region, with commissioning scheduled by the end of 2025.
ReNew Energy Global commits Rs22,000 crore ($2.57bn) to develop a 2.8 GW solar-wind hybrid power plant in Andhra Pradesh.
CVE North America begins construction of a solar and energy storage system on a former landfill site in Riverhead, marking a new strategic investment in the United States.

Google commits to 600 MW of solar with energyRe in South Carolina

The tech giant strengthens its partnership with energyRe through a second agreement covering more than 600 MW of solar projects, bringing the total commitment to over 1 GWac of renewable capacity.
Doral Renewables has finalised a $1.5bn structured financing for three photovoltaic plants in Indiana, marking a major step in the construction of the Mammoth Solar complex.
Solar solutions manufacturer TOYO Co., Ltd released revised financial results for 2024, reporting a significant increase in net profit despite a sharp rise in operating expenses.