finance

Enefit Green has reached final investment decision on the 74MW Sopi solar PV project in Estonia, into which it will invest approximately €44 million (US$47 million).

Global solar energy investment will surpass oil for the first time in 2023 as PV leads the charge in a projected 24% increase in clean energy investment compared with 2021.

The European Commission plans ultimately to run an ‘expression of interest’ call for EU countries every year, which will result in a call for a cross-border tender if there is enough interest from member states and the proposals and desires of the participating countries line up.

The projects will be realised by the end of this decade and will represent around US$1 billion in investment, according to Founder & CEO of Edelen Renewables, Adam Edelen.

Spanish renewables platform Matrix Renewables has completed construction and financing of two 143MW/80MWh solar-plus-storage projects in California, with five power purchase agreements (PPA) in place with utilities and cities across the state.

Global renewables investor Actis has launched a new US$500 million renewables development platform in Japan, looking to deploy 1.1GW of onshore solar and wind by 2027.

Industrial group Baywa recorded €1.5 billion (US$1.63 billion) in revenues from its renewable energy business in Q1 2023, just under a 25% of the group’s total quarterly revenue of €6.3 billion (US$6.8 billion).

Solar tracker and software provider Nextracker more than doubled its adjusted EBITDA in the financial year (FY) ending March 2023 compared with the previous year, up to US$209 million from US$92 million.

US renewables developer Pivot Energy has closed a US$203 million financing facility to fund 100MW of distributed solar PV projects across numerous states.

Danish renewable energy investor Copenhagen Infrastructure Partners (CIP) has launched a new renewables development platform in Germany.