Finance

Solar projects across Finland have been given the green light after grant agreements were signed with the European Climate, Infrastructure and Environment Executive Agency. A total €27.5 million ($29.8 million) is being invested across the projects through the EU renewable energy financing mechanism.

US-headquartered Apricus Generation says it has acquired a controlling stake in Toronto-based Nexus Renewables – its first strategic acquisition.

Held once a decade since 1994, the fourth International Conference on Small Island developing states (SIDS) began this week in St. Johns, Antigua and Barbuda with a strong message: That major changes to international finance are needed to create a level playing field for sustainable development in the world’s island nations, and that larger nations and industries bear responsibility for the impacts of climate change, and must do more to honor commitments towards their mitigation.

The Eurasian Development Bank has agreed to provide $210 million over 15 years for Bishkek Solar to build a 300 MW solar plant in Kyrgyzstan. National Electric Grid of Kyrgyzstan will purchase the electricity for a period of 25 years.

The second phase of Ireland’s Small-Scale Renewable Electricity Support Scheme (SRESS) is aimed at local communities and small- and medium-sized enterprises that produce their own electricity.

Malakoff Corporation Berhad, a Malaysian independent power producer (IPP), plans to acquire a 51% share in ZEC Solar and a 49% stake in TJZ Suria. It says it has already signed a share sale and purchase agreement with Zelleco Engineering.

The subsidiary of Chinese-Canadian solar manufacturer Canadian Solar says the financing will go towards developing and constructing solar and battery energy storage projects across Spain, Italy, the UK, the Netherlands, France and Germany.

Danish citizens will once again be able to apply for heat pump subsidies from May 27. A DKK 17,000 ($2,469) grant will be available for air-to-water pumps and DKK 27,000 for liquid-to-water heat pumps.

Alcazar Energy Partners has reached financial close, totaling $490 million, for its second renewable energy fund. It aims to develop more than 1.6 GW of clean energy projects across selected emerging markets, including the western Balkans.

European renewables developer Qair will build a 10 MW solar plant in western Tunisia with a €3.9 million ($4.2 million) loan from the European Bank for Reconstruction and Development (EBRD), as well as to up to €1 million in concessional funding from Finland.