Markets

Forget New Jersey. The solar industry is “in a New York State of mind,” to paraphrase singer Billy Joel, now that two government agencies have launched a five-year, USD150-million initiative to fund new large-scale photovoltaic (PV) power projects in the region.

New figures from Bloomberg Energy Finance have shown that while the global economy remains sluggish, clean energy and solar in particular, continues to attract investment.

Capturing a global market share of 50 percent, German equipment manufacturers have recorded year-on-year sales increases of 10 percent for the third quarter 2011, according to VDMA figures. Demand from Asia remains the overwhelming trend.

Norway-based solar company Renewable Energy Corporation has today reported wafer contract cash compensation in the order of NOK200 million (USD33.32 million). The payments will be received in the first quarter of 2012.

The Californian Public Utilities Commission approved today approved five renewable energy contracts worth 1,088MW. Three of the agreements were signed with Southern California Edison and Solar Star California–which is subsidiary of SunPower–for the Quinto, AVSP I and AVSP II photovoltaic projects, collectively worth 711 megawatt (MW).

EXCLUSIVE: The payment of a bond, which is soon to be due, is being delayed by a complaint against the chosen representative of creditors. The repayment amounts to approximately €200 million, that becomes due at the end of February.

In the case that all the solar industry in the UK will be watching closely, judges at the Court of Appeals said today that they will deliberate on the government’s appeal against the High Court’s recent findings that its cuts to the photovoltaic feed-in tariff (FIT) rates were unlawful.

There’s an old saying that everything is bigger in Texas—and San Antonio is no exception. Now, the city’s utility, CPS Energy, is about to sign a 25-year power purchase agreement (PPA) with OCI Solar Power for up to 400 megawatts (MW) of energy—sealing one of the largest solar deals ever in the United States.

One of the largest electric utilities in the U.S., Pacific Gas and Electric Company (PG&E), has announced that 185-megawatt (MW) worth of new photovoltaic projects came online in 2011. The capacity was spread across eight project sites.

Germany renewables developer juwi announced today that it has completed the sale of a solar power plant with a capacity of 1,065 kilowatt (kW). The plant was commissioned in 2009 and has been operated by juwi for two years.