community solar

Last week’s collapse of Silicon Valley Bank (SVB) has brought doubts in terms of capital financing for the renewable industry with a big impact on the community solar market as the entity had financed up to 62% of the US community market.

Distributed energy platform Scale Microgrids has acquired over 100MW of community solar projects in New York from Netherlands-based developer Gutami.

Toronto-based renewables developer Amp Energy has agreed to sell 100% of the equity interests of its US subsidiary, Amp US, to asset management companies Fiera Infrastructure and Palisade Infrastructure Group.

US-based independent power producer Altus Power has reached financial close on 220MW of solar PV assets representing an investment of approximately US$293 million.

US community solar deployment is expected to more than double over the next five years despite 2022 seeing a 16% decline year-on-year, as the sector is set to see benefits from the Inflation Reduction Act (IRA) taking hold.

The US Department of Treasury has released guidance on two Inflation Reduction Act (IRA) programmes aimed at low-income and coal communities.

A round-up of the latest news from the power purchase agreement market, including a virtual PPA between EDF and Thermo Fisher Scientific in Texas, Engie signing a 116MW PPA with Digital Realty in Germany and PG&E securing 30MW of community solar PPAs.

On 15 December, the California Public Utilities Commission will vote on the latest net energy meeting (NEM) proposal regarding the state’s rooftop solar market. Ahead of the vote, activists have taken to the streets in a series of demonstrations against the legislation, and the California Solar and Storage Association (CALSSA) and other representative groups have been vocal in their criticism of the proposal.

Renewables asset owner Brookfield Renewable is planning to take advantage of policy headwinds stemming from the US’s Inflation Reduction Act as it bolsters its presence in the commercial and community PV segment with the acquisition of Standard Solar.

US renewables developer Pivot Energy has secured a US$100 million revolving development loan facility to fund its solar and storage pipeline across the US.