Sunrise brief: Sungrow posts $1.3 billion profit for 2023


South Korea plans 120 GW space solar project Two Korean research institutes are designing the 2.2 km × 2.7 km Korean Space Solar Power Satellite project with the aim of providing approximately 1 TWh of electricity to the Earth per year. The proposed system should use 4,000 sub-solar arrays of 10 m × 270 m, made out of thin film roll-out, with a system power efficiency of 13.5%.

Sungrow posts $1.3 billion profit for 2023  Chinese inverter manufacturer Sungrow shipped 130 GW of inverters last year, reaching a profit of $1.3 billion.

Hitachi Energy to invest more than $100 million to manufacture transformers in Canada  To help meet the demand for transformers, the Government of Quebec is helping with funding of a testing facility as well as an engineering and design center.

New green bank to support distributed solar and storage in the Appalachian region The Green Bank for Rural America will support community lenders in Appalachian communities to finance climate-supporting projects including distributed solar and storage. The bank and four others received a total of $6 billion in federal awards.

Major defense company plans to reduce emissions 46% by 2030 RTX, formerly Raytheon, signs an agreement with Engie North America to buy 1.5 million MWh of renewable energy over the next ten years, spurring further growth of Texas solar development.





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