Finance

The company closed two facilities to execute on its project pipeline of distributed and small utility-scale solar projects.

Silicon Valley Bank, one of the nation’s largest, was closed by the FDIC on Thursday night after $42 billion in withdrawals occurred after a massive stock drop due to ongoing losses in the bond market.

The market awaits the U.S. Treasury guidance on direct sales of federal tax credits, but sales are moving forward without waiting, said Norton Rose Fullbright.

Also on the rise: Silfab Solar raises $125 million for U.S. cell and module manufacturing. Tariff investigation, equipment detainments lead to 16% drop in new solar capacity in 2022. And more.

Speaking at the ACORE 2023 Policy Forum, three renewable energy executives and an industry banker shared their prognostications for how soon we should expect to see tax credit and equity transferability occur, as well as a wishlist of IRA policy items that they hope to hear guidance on this year.

While electricity pricing continues to rise due to natural gas pricing in 2022, some locations are starting to see pricing fall, implying that base electricity pricing and escalators in financial models may be out of touch with reality.

Maxeon module shipments of 734 MW were above ROTH MKM Partners’ estimate of 699 MW, and a 27.2% improvement over 577 MW shipped in Q4 2021.

Also on the rise: Distributed generation finance platform raises $25 million. Honda reusing vehicle fuel cells to build 500 kW stationary fuel cell system. And more.

With increasing capital commitments, there is now a shift to minority investments and emergent technology subsectors. pv magazine evaluates the M&A outlooks provided by CohnReznick Capital and FTI Consulting.

Banyan Infrastructure is raising a $25 million Series B equity round from Energize Ventures, SE Ventures and Elemental Excelerator to digitize the manual process of procuring project finance between banks, investors and project developers.