In case you missed it: Five big solar stories in the news this week
pv magazine USA spotlights news of the past week including market trends, project updates, policy changes and more.
Bankrupt solar installer Lumio acquired by Zeo Energy Corp.
Lumio filed for Chapter 11 bankruptcy in September.
Sunrise brief: Solar stocks nosedive as Trump victory is secured
Also on the rise: The future of clean energy policies in a new Trump administration. Freyr battery jumps into solar manufacturing with acquisition Trina’s assets. And more.
Freyr to acquire Trina Solar U.S. manufacturing assets
The battery maker reports that acquiring the module manufacturing assets is the first step in its plan to build out a vertically integrated domestic manufacturing footprint that will next include a 5 GW solar cell facility.
BP completes takeover of Lightsource business
Deal for 50.03% of Lightsource BP leaves oil and gas giant with total control of renewables developer. Lightsource BP is expected to continue trading with a standalone operating model, retaining its independent brand.
Solar corporate funding down 23% so far this year
Total corporate funding in the solar industry reached $22.3 billion over the first nine months of 2024, representing a 23% year-on-year decrease. Mercom Capital Group says that while global uncertainties are affecting investor confidence, an increase in debt financing and resilience in newly-announced large-scale project funding remain bright spots for the sector.
ContourGlobal enters U.S. market with acquisition of PV projects in South Carolina
After this initial acquisition of 151 MW, the European independent power producer plans to build a portfolio of up to 2 GW in the U.S. by 2030.
Nova Infrastructure acquires community solar company UGE International
The middle-market investment firm agreed to acquire approximately 70% of UGE shares.
CleanCapital acquires 13 MW brownfield portfolio
The two projects include Steel Sun II, located on the former Bethlehem Steel site on Buffalo’s waterfront and the Homeridae project, one of two solar arrays in Olean sited on a former oil refinery and tank farm.
Jera Nex acquires U.S. solar sites from Lightsource bp
Jera Nex has purchased two US solar arrays totaling 395 MW from Lightsource bp. The acquisition marks Jera Nex’s first deal since it launched in April. Lightsource bp will continue to manage assets and provide maintenance services at the projects.
