SolarWorld collapses as Europe's solar industry eclipsed by China
Christoph Steitz for Reuters: Europe's embattled solar power industry has been dealt a fresh blow, with cut-price competition from China driving Germany's SolarWorld into insolvency.
Sunlight Financial Announces $500 Million Commitment from Tech CU for Residential Solar Loans
The fast growing residential solar financing provider expands an existing partnership; will fund loans for 20,000 homeowners
SolarCity's solar installations crash nearly 40%
Nichola Groom, Reuters: Tesla's SolarCity reported a drop of nearly 40 percent in solar installations for the first quarter on Wednesday, the latest sign of a reversal in fortunes for the once high-flying residential solar industry.
Mercom: Project funding for energy storage totalled US$820 million in 2016
Andy Colthorpe for Energy Storage News: Project funding for energy storage jumped to US$820 million in 2016 from just US$30 million in 2015, while Sonnen was revealed as the energy storage company to raise the most VC funding this year.
The latest quarterly report from Mercom Capital on financial activity in battery storage, smart grid and energy efficiency wraps up the results for the entirety of 2016. It found that during the year, energy storage companies raised US$820 million in project funding across seven deals, compared to US$30 million across three deals in 2015.
The majority of this project funding, US$625 million, was raised in the third quarter of the year and included Tabuchi America netting US$300 million for residential work and Advanced Microgrid Solutions with US$200 million of project financing from Macquarie Capital. Cont'd...
Arcadia's Community Solar Program
A customer can subscribe to as little as single panel or enough to zero-out their utility bill.
Green Tech Investing on the Rise: $17 Million and Another $1 Million on the Way
StartEngine is a website that allows companies to raise capital by exchanging capital for securities (equity or debt). Rather than asking friends, family and fans to donate money to help raise funds, StartEngine enables companies to raise capital by offering investment opportunities to the general public.
Alternative Energy Project Financing
If storage costs can demonstrate price reductions comparable to what weve experienced with wind and solar, storage will be a big part of the story.
Floating solar power sector has "considerable" bank support
Mark Lammey for EnergyVoice: A major bank’s decision to throw its weight behind a floating solar power scheme shows the sector is rich with commercial potential, bosses at engineering consultancy OST Energy said.
OST acted as technical adviser for Royal Bank of Scotland (RBS) during the early stages of the project to bring Europe’s largest floating photovoltaic solar project to financial close earlier this year.
The 6.3 Megawatt peak (MWp) array, installed by Lightsource Renewable Energy, is the first project of its kind to secure European bank financing.
It now provides a source of clean energy to water utilities company, Thames Water, on the Queen Elizabeth II reservoir west of London.
Thames Water will buy all energy generated by the project as part of a power purchase agreement (PPA) with Lightsource. Cont'd...
How To Access Financing For Your Next Commercial Solar Project
Borrowers may underestimate the extent to which they need to be prepared before soliciting project financing. There are six key documents essential for obtaining capital for financing any solar project.
SEALED LAUNCHES $7.5 MILLION ENERGY SAVINGS FUND WITH NY GREEN BANK, TURNS RESIDENTIAL ENERGY SAVINGS INTO A FINANCIAL COMMODITY
Viridity Energy Raises $8.5 Million in Growth Round
AltEnergy Increases Investment to Expand Energy Management Technology and Battery Storage Solutions
SunEdison Files for Chapter 11 Bankruptcy Protection
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PEG BRICKLEY and ANNE STEELE for The Wall Street Journal: Solar-energy Company SunEdison Inc. on Thursday filed for chapter 11 bankruptcy protection, a dramatic move for a company whose market value stood at nearly $10 billion in July.
SunEdison said its publicly traded entities, TerraForm Power Inc. and TerraForm GlobalInc., aren’t part of the filing. The two so-called yieldcos—separate entities that buy operating projects from developer SunEdison and pay out cash flow to their shareholders—said Thursday they believe they have sufficient liquidity to run their businesses and meet financial obligations, although SunEdison’s bankruptcy “will present challenges.”
Bankruptcy has been a near-certainty for SunEdison for some time. The company borrowed heavily to buy up wind and solar developers, accumulating a pile of debt that worried investors. Disappointing earnings didn’t ease their fears about the pace of SunEdison’s growth, and an accounting move last year that reclassified more than $700 million worth of debt heightened anxieties. Cont'd...
BayWa r.e. partners with Spruce Finance to offer a new financing product
BayWa r.e.s national dealer network will have access to Spruce loan products that help them grow their businesses and empower consumers to control their energy choices.
The World's Largest Renewable Energy Developer Could Go Broke
Ben Walsh for The Huffington Post: There is a “substantial risk” that SunEdison may file for bankruptcy, the world’s largest renewable energy developer said in a regulatory filing on Tuesday. The company’s fall isn’t a referendum on the solar industry as a whole, as much as it is on SunEdison’s aggressive growth strategy fueled by excessive debt and financial engineering, analysts say.
SunEdison “just thought they were smarter than everyone else,” said David Levine, the founder and CEO of Geostellar, a solar energy marketplace that has done deals with the company.
The company’s shares have fallen steeply since they hit a high of $30 in July. They were at just $1.26 before the filing. The stock immediately dropped another 40 percent when the market opened after the filing, and the company was trading at just $0.59 by Tuesday lunchtime.
“What happened from late-2014 to the middle of 2015, the company began embarking on a hyper-growth strategy,” S&P analyst Angelo Zino told The Huffington Post. Cont'd...
JinkoSolar Partners with GreenSky® to Offer Nationwide Residential Solar Loans in the U.S.
Partnership Pairs World's 2nd Largest Solar Manufacturer with Leading Loan Provider
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