Will clean energy SPACs survive current Wall Street bubble?
The experts say yes. SPACs representing $53 billion in investments accounted for about half of all IPOs this year — providing a pathway to public markets for emerging clean tech companies developing disruptive, pre-revenue technologies.
Tesla CEO Elon Musk: ‘We continue to believe that the energy business will ultimately be as large as our vehicle business’
Tesla’s solar and battery businesses show signs of life in another profitable quarter for the EV maker.
It’s cheaper to build new solar than it is to operate coal plants
New analysis released by Lazard compares the levelized cost of energy for various generation technologies on a $/MWh basis and shows that renewables, specifically utility-scale solar and wind, are the economic frontrunners.
Mosaic launches new loans with the lowest rates the market has ever seen
The two new options, 0.99% APR for a 20-year loan and 1.99% APR for a 25-year loan, come at a time when installers and homeowners are increasingly cost-conscious, especially considering the impending ITC step-down.
Solar PPA prices in the US rise for the second consecutive quarter — after 18 months of decline
LevelTen Energy’s Q3 2020 PPA Price Index report shows that average utility-scale solar PPA prices rose again in Q3, up to $29.3/MWh. And while the ITC step-down and simple economics are to blame, LevelTen shares that the increases are no cause for alarm.
Array Technologies’ share price up 65% on first day as a public company
The IPO priced at $22, above the top of the anticipated range of $19 to $21 — valuing the solar firm at about $2.8 billion.
Morning Brief: Home Depot and Enel signa power contract, National Grid rebrands its renewable arm
Also in the brief: CollectiveSun raises $4 million for San Diego nonprofits to go solar, EDP has closed on a power contract for 100 MW of solar generated by two projects in Ohio and more.
IPO update: Solar tracker builder Array Technologies increases number of shares in largest PV IPO of 2020
The reception in the financial community on the eve of the Array Technologies IPO must have been enthusiastic.
Morning Brief: Solar power will be ‘the new king’ by 2030, fuel cell SPAC, advanced reactors get $160M
Even the profitless fuel cell industry can launch a SPAC, cheered on by the current mania for hydrogen technology. Lots more in today’s brief.
Energy Funding: IPOs, M&A, VC and grants for flow batteries, fuel cells, PV trackers and equitable access to solar
Another busy funding week with solar IPOs on deck and venture capital investments — but no cleantech SPACs in the last few day, at least.
