Sonnedix secures €3.25 billion in refinancing for renewables portfolio
Sonnedix has secured €3.25 billion ($3.38 billion) through two refinancing transactions. The renewable energy producer says the transactions will be instrumental in accelerating the growth of its pipeline across Europe.
Solar applications to Dutch subsidy scheme drop by more than half
A Dutch subsidy scheme for renewable energy saw solar applications fall to 501 this year from 1,130 in 2023, as grid congestion and negative electricity prices reduced investment appeal.
Solar advances across MENA region
The fossil fuel rich Middle East and North Africa (MENA) region faces mounting pressure to diversify its energy mix. While solar is cheap, it faces significant sociopolitical and economic challenges.
ESMC publishes recommendations for restoring Europe’s solar industry
The European Solar Manufacturing Council’s (ESMC) working group has issued a recommendation paper praising the Net-Zero Industry Act (NZIA), but says clearer and stronger support is needed for European solar production.
Norwegian platform invests $50 million in Egyptian renewables
Empower New Energy, a Norwegian solar investment platform, has signed a $50 million agreement with Egyptian independent power producer Engazaat to fund a renewable energy project portfolio in Egypt.
Nord/LB to invest €73 million in 100 MW Polish solar farm
Renewables developer OX2 has secured a €73 million ($76.8 million) financing package from bank Nord/LB for a 100 MW solar farm currently under development in southwestern Poland.
Malaysia’s OCK Group invests $79.1 million in solar portfolio
OCK Group, a telecom services provider, says that it plans to invest MYR 350 million ($79.1 million) in a 116 MW solar facility.
Maxeon Solar reports $179 million Q3 loss
The Singapore-headquartered company has faced product detainment by U.S. Customs and has announced plans to focus solely on the U.S. market.
TotalEnergies to acquire Germany’s VSB Group
France’s TotalEnergies is set to buy German renewables company VSB Group for €1.57 billion ($1.65 billion). It has also agreed to sell 50% of a 2 GW solar-plus-storage portfolio in Texas for $800 million.
Czech electricity grid to get €400 million upgrade
The European Investment Bank (EIB) has granted a €400 million ($420 million) loan to Czech utility ČEZ to upgrade and expand Czechia’s electricity distribution grid. The upgrades are expected to help absorb up to 5.5 GW of new renewable capacity.
