Canadian Solar’s global module, battery and inverter solutions business is issuing 541 million shares, or 15% of 3.6 billion outstanding shares, at $1.17 per share (11.10 RMB) raising the equivalent of $848 million in proceeds.
Also on the rise: Enphase launches IQ Battery 5P residential battery in U.S. and Puerto Rico. Solar energy in New York state covered record 20% of state power demand. And more.
The IQ Battery 5P works in conjunction with the Enphase Energy System and can be configured for self-consumption, savings, or full backup functionality.
Powin has selected Jabil as its manufacturing partner to produce Powin’s Stack750 Centipede energy storage systems. Beginning in Q4 2023, Jabil will produce an initial annual capacity of 2 GWh, with plans to ramp up production to 4 GWh per year.
The producer of Maxeon and SunPower brand solar modules is raising capital from a $157.4 million underwriting of shares and a separate $42 million private placement with TCL Zhonghuan.
This record volume of shipments was a 68% increase over the same quarter last year.
Also on the rise: Puerto Rico cannot afford to repay any of utility PREPA’s debt, says analyst. 50 states of solar incentives–Arizona. And more.
To rebuild its grid with renewables, Puerto Rico cannot afford to repay the legacy debt of bankrupt utility PREPA through proposed higher electric rates, an analyst said.
Also on the rise: Silicon Valley Bank begins lending again for solar projects. California gold rush supporting 2023 residential solar market. And more.
Selected projects in thirteen states and Puerto Rico will be funded by the Bipartisan Infrastructure Law and support a resilient grid that automatically adjusts to changing demands.
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