Finance

Since financing and developing a commercial solar project wasn’t enough of a challenge, SunExchange adds crowdfunding and cryptocurrency to the mix.

Building on what has been a successful 2020 in terms of fundraising, the company has closed on a $225 million letter of credit with partners KeyBank, HSBC, Rabobank and Nomura Holdings.

Solar plants are now expected to last 32.5 years and have operational costs of $17 per kW/year, as shown by a Berkeley Lab survey of industry participants.

The Chinese-Canadian solar manufacturer reported a 41% year-over-year increase in total module shipments to 2.2 GW in the first quarter. Revenue grew by 70% to $826 million, while net profit improved significantly from $17.2 million to $110.6 million.

Recently approved solar PPAs could spell trouble for proponents of retrofitting the state’s San Juan Generating Station to capture the coal-fired plant’s carbon dioxide emissions.

Also in the brief: Green hydrogen in Denmark, North Dakota solar on tribal lands, Lime Rock New Energy raises $600 million in growth equity focused on renewable energy tech.

Sinn Power of Gauting, Germany combines wave, wind and solar power for the “first floating ocean hybrid platform.”

The surge in storage revenue due to specific grid conditions in Australia was one of the main factors behind a 61% year-on-year increase in revenues that Neoen saw in the first quarter of the year.

$40 million is coming down the pipeline via an agreement between New Columbia Solar and Franklin Park Infrastructure. The money will not only help New Columbia to expand its team, but also bring 30 MW of distributed solar to the area with the nation’s most aggressive renewable energy standard.

The Gemini project will be the largest solar plant in the U.S. and among the top-ten worldwide when completed on BLM land near Las Vegas. We spoke with the project developer to get some details on “one of the purest forms of time shifting you’ll ever see.”