Canadian Solar sees turnover and profits surge
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.
Record low solar PPAs in the Southwest mean ‘carbon capture is not going to save coal plants’
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.
Morning Brief: Nuclear fusion startup raises $84 million from Temasek and Equinor
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.
Startup wants to put solar arrays on wave energy generators, along with wind turbines
Sinn Power of Gauting, Germany combines wave, wind and solar power for the “first floating ocean hybrid platform.”
Hornsdale and its big Tesla battery exceed expectations as storage revenue surges
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.
New Columbia Solar closes the biggest-ever tax equity deal for D.C.-based solar
$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 largest US solar-plus-storage plant will deploy 690 MW of bifacial modules on trackers
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.”
Morning Brief: Spruce Finance acquires Clearway Energy’s residential solar portfolio, GM to go 100% renewable at Spring Hill
Also in the brief: Ginlong Technologies plans to raise over $100 million, the US–China trade war and COVID-19 have massively impacted coal financing, SunPower’s planned split and establishment of Maxeon Solar Technologies has received approval in China and more.
Morning Brief: NYC replaces fossil plants with storage and renewables, solar boom stalls in Texas
Also in the brief: a look at how pv systems relate to bird mortality, Sunverge has been chosen to manage a Maryland virtual power plant, a solar powered water filtration system and more.
Direct cash payments for solar projects floated as a legislative solution
Solar developers, including First Solar, believe that a direct cash payments solution could keep solar projects on track and help developers monetize the ITC in the event that tax equity financing dries up.
