EU approves €1.2 billion renewables grant scheme in Poland
The European Commission has given the green light to a €1.2 billion ($1.3 billion) state aid program in Poland that provides direct grants to companies producing solar panels, batteries, heat pumps, and other renewable equipment components.
Sweden to lower solar subsidy, scrap tax breaks for electricity micro-production
The Swedish government is considering reducing the subsidy for solar installations and removing the income tax reduction for households and businesses that micro-produce renewable electricity. Svensk Solenergi, Sweden’s leading solar association, has criticized the proposals.
EDF, Masdar secure financing for 1.5 GW of solar near Abu Dhabi
EDF Renewables, Korea Western Power Co. (Kowepo), and Masdar have secured financing to build a 1.5 GW solar plant near Abu Dhabi, backed by a 30-year power purchase agreement (PPA) with Emirates Water and Electricity Co.
Engie secures 10-year virtual PPA from Coca-Cola in Australia
Coca-Cola has signed a virtual power purchase agreement (PPA) brokered by France-based Engie, to source renewable energy and associated credits from the Wellington North Solar Farm in the Australian state of New South Wales.
Hungary’s residential PV subsidy scheme draws 20,000 applicants
The Hungarian government says 20,000 households have signed up for its PV subsidies scheme, which offers up to HUF 5 million ($14,125) per home installation. The original HUF 75.8 billion budget was increased by HUF 30 billion in July.
End of the line for a U.S. solar giant
SunPower, one of the largest, oldest, and most influential solar businesses in the United States, has closed its doors. Residential solar installers in the United States have struggled as interest rates have risen and cash generation has emerged as an issue.
Ampin, Sumitomo set up renewables venture
Ampin Energy Transition and Japan’s Sumitomo Corp. have formed a joint venture company, Ampin C&I Power, to develop renewable energy sources in India.
Chinese PV Industry Brief: Aiko Solar, GoodWe, Ginlong Solis post H1 profit declines
Aiko Solar, GoodWe, and Ginlong Solis have all posted declines in net profit for the first half of 2024 due to industry overcapacity.
European Investment Bank invests in solar, wind in South Africa
The European Investment Bank (EIB) and Development Bank of Southern Africa (DBSA) are each investing €100 million ($110.8 million) in small- and medium-scale solar and onshore wind projects in South Africa. Together, they have now committed €600 million under South Africa’s Embedded Generation Investment Programme (EGIP).
Chinese PV Industry Brief: Risen, Sungrow, Arctech reveal H1 results
Module maker Risen Solar has posted a net loss of CNY 963 million ($135.2 million) for the first half of 2024, while Sungrow and Archtech have recorded profit increases.
