AfDB signs deal to scale up solar energy development

Rooftop solar energy systems getting larger as households tempted by falling prices and increased capacity

Rooftop solar energy systems getting larger as households tempted by falling prices and increased capacity

At the founding conference of the International Solar Alliance on Sunday, India announced one of the world's largest investment plans in solar energy.

In 2016, Dollars 4 billion was invested in the sector. "This Sullivan County project will deliver energy savings to residents throughout the Mid-Hudson Valley region, while supporting the establishment of a cleaner, greener NY for all".

The corporate funding (VC/PE, public market, and debt) raised by solar companies in 2017 totalled United States dollars 3.6 billion and accounted for 28 per cent of the global total.

The increase in corporate funding in 2017 was largely spurred by large private equity deals. For instance, ReNew Power closed two deals worth $200 million each.

UAE denies reports of concession awarded to Qatar Petroleum
However, the UAE Supreme Petroleum Council (SPC) said Abu Dhabi did not hold any negotiations with Qatar regarding the oilfield. Qatar has vigorously rejected the accusations but refrained from imposing reciprocal punitive measures on the four states.

Several other companies announced deals worth more than Dollars 100 million, including Greenko Energy, Hero Future Energies, and CleanMax Solar, it said. Most of the debt activity among Indian solar companies came in the form of new bonds. Greenko Energy issued senior notes and bonds to the tune of $1.5 billion, Azure Power raised over $500 million through a bond and ReNew Power raised close to $500 million via bond issues. Interest rates for various instruments ranged from 4.9 percent to 8.75 percent. Project acquisition activity fell by half - in terms of dollars - compared with 2016.

The new project features rooftop, carport and ground-mount solar solutions, including 2.7 MW arrays installed across Campbell's world headquarters campus and an additional 1.7 MW ground-mount array on an adjacent 4.5-acre remediated brownfield that BNB purchased specifically for the project.

Speaking at New York University last week, New York State Governor Andrew Cuomo - joined by former Vice President Al Gore - announced the single-largest commitment to renewable energy by any USA state, which is worth $1.4 billion, and approved 26 large-scale renewable energy projects across New York.

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