Maguire: Clean energy push in Australia reaches pivotal milestone for energy transition
Last month, Australian utilities produced more electricity using clean energy sources than fossil fuels. This was a first for one of the top coal and natural gas exporters in the world. Data from the energy think tank Ember show that in October, utility-supplied electricity from clean sources reached 9.88 terawatts hours (TWh), which was higher than the 9.82 TWh produced by fossil fuels.
Judge rules that the former CFO of smart window maker View is subject to SEC charges
A federal judge has ruled that the former chief financial officer for View, who was accused of negligently allowing the manufacturer of "smart" windows to understate costs of replacing defective windows by the U.S. Securities and Exchange Commission. In a decision handed down on Monday evening, U.S. district judge Beth Labson Freeman of San Jose, California rejected the claim made by ex-CFO Vidulprakash that in its civil case…
Wood Mackenzie warns that China's curtailment of renewable energy will present revenue risks over the next decade.
Wood Mackenzie, a consultancy, said that if renewable energy is curtailed to balance China's grid during times of low or high demand it will pose a risk to investor revenues over the next decade. Wood Mackenzie predicts that solar curtailment rates will average over 5% in 21 provinces within the next decade. According to the latest data from the National New Energy Consumption Monitoring and Early Warning Center…
Fashion brands boost solar energy with textile suppliers
Textile suppliers in Bangladesh, who account for 85% exports of Bangladesh, are under pressure to become more environmentally friendly. They hope that new initiatives will help them find the money they need to expand rooftop systems powered by solar energy. Few energy companies are willing to invest in solar power plants because they fear that smaller factories may default on their commitments.
First Solar's sales exceed expectations, and the company plans to open a second US factory
First Solar, the largest U.S. solar panel manufacturer, exceeded expectations for third quarter sales on Thursday. This was due to robust demand for their products. Their shares rose more than 5% during extended trading. Solar-generated electricity has become one of the fastest growing segments in the U.S. Energy Industry, due to the strong demand of corporations and government agencies for cleaner energy sources and climate change.
First Solar's robust sales beat expectations in the third quarter
First Solar's shares rose more than 5% on extended trading after it beat third-quarter expectations. This was due to robust demand for the company's products. Solar-generated electricity has been growing at a rapid rate in the U.S. Energy Industry, driven by the strong desire of corporations and government to use cleaner energy sources and fight climate change.
Solex Energy, an Indian company, will invest $1.5 billion in solar manufacturing and is looking to export the product to the US
Solex Energy, an Indian manufacturer of solar modules, will invest $1.5billion over the next five-years to expand its manufacturing and exports to the United States. A top executive said this on Wednesday. Solex operates a module manufacturing facility of 4 gigawatts in Gujarat, a western state. It plans to increase its capacity to 10 GW. It also plans to establish 10GW of cell production and 2GW of ingots and wafers.
Malaysia shifts from coal to a mix of solar, gas and electricity
Malaysia will shift away from coal and focus on solar power, said the CEO of the state utility Tenaga Nasional on Wednesday. He added that using renewable sources would keep costs low. Southeast Asia's 35 million-strong nation has increased its coal-fired fleet in order to lower electricity costs. However, it plans to increase the use of solar and natural gas - with the latter being cheaper but the former more flexible.
China solar stocks jump after a report by state media on overcapacity
The shares of China's solar firms soared on Wednesday, after a senior executive in the industry told state media leading companies were forming an alliance. This raised expectations that industry leaders would be moving forward with a plan that will reduce overcapacity. "Seventeen companies are already in the process of signing." Zhu Gongshan (President of GCL Technology Holdings)…
Havells led funding round secures $171 Million for India's Goldi Solar
Goldi Solar, India's largest manufacturer of solar modules, announced on Wednesday that it had raised $142,1,000,000 ($171,000,000) in growth capital, led by the electrical equipment giant Havells India. Shahi Exports and SRF Transnational Holdings are among the high-net worth individuals and companies that invested in this round. The money raised will be used to support Goldi Solar in its manufacturing expansion…
Enphase Energy's forecast for the fourth quarter revenue is below expectations, signaling a tariff increase
Enphase Energy's fourth-quarter revenue was below Wall Street expectations on Tuesday. The company also said that U.S. president Donald Trump's tariffs negatively affected its margins. Shares of the solar inverter manufacturer fell over 8% following hours. The tariffs are expected to have a negative impact on the company's margins in the current quarter.
ContourGlobal, backed by KKR, targets British renewables
KKR ContourGlobal is planning to enter the renewable energy market in Britain as it pursues a strategy of streamlining that will see other countries removed from its portfolio. ContourGlobal, founded 2005 and listed on the London Stock Exchange in 2017, was acquired by KKR Fund in 2022. "We are simplifying the company and reducing the footprint of the group from 17 to 10 countries…
LAUDES-U.S. cities drive energy transition despite Trump resistance
The U.S. By Carey L. Mayors report that many cities still have a long way to go in improving building efficiency, electrifying cars and neighborhoods, training employees for new energy jobs, and designing for tomorrow. Keith Wilson, the mayor of Oregon's biggest city, said that cities like Portland don't wait for federal permission before taking action on climate change.
Abby Ross Hopper will retire as the top US solar lobbyist in 2019.
The organization announced in a Tuesday statement that the longtime leader of the U.S. top solar industry trade group would step down at the end of next year. Abigail Ross Hopper, the president and CEO at Solar Energy Industries Association will be leaving her position on January 30, 2019. SEIA is currently searching for her replacement. Hopper's resignation after nine years in the top position of the U.S.
China's fossil fuelled power production fell 5.4% in September
Statistics Bureau data released on Monday showed that China's fossil fuelled power production fell by 5.4% in September compared to the same period last year as hydropower output soared. The National Bureau of Statistics reported that the total thermal power production in September was 517.5 billion Kilowatt-hours. This was also lower than the 627.4 kWh thermal output in August when it surged to its highest level in decades.
Minister: France will not abandon the climate goals of the World Bank
Eleonore Caoit, France's new development minister, said that France would continue to press the World Bank for its climate finance agenda in spite of the pressure from the Trump administration to abandon it. Caroit, speaking to reporters at the World Bank's and International Monetary Fund's annual meetings in Washington, said that efforts to combat climate…
Indian solar firms re-engineering their supply chains to avoid US tariffs
Executives report that Indian solar manufacturers are recalibrating supply chains in order to gain access to the lucrative United States markets and to offset higher tariffs. On August 27, U.S. President Donald Trump imposed tariffs up to 50 percent on the majority of exports coming from India. These are among the highest rates for any U.S. trade partner.
Waaree, a leading Indian manufacturer of solar products, expands in the US despite a trade probe
Waaree Energies is India's top solar module maker and wants to expand in the largest economy of the world despite a trade investigation that's ongoing, said a company official on Friday. Customs officials in the United States are investigating whether Waaree Energies evaded tariffs by labeling Chinese-made panels and cells as being made in India. The company denies this charge.
East Timor is expecting construction of the first large solar power plant to begin next year
East Timor's state utility chair said that construction on its first large-scale solar power plant will begin in 2026, and it should be operational a few months later. This will help the country reduce expensive diesel imports. Itochu Corp. of Japan and Electricite de France will develop a 72-megawatt photovoltaic power plant in Manatuto and a battery energy storage system of 36-MW.
States sue Trump to stop cancellation of $7 Billion Solar Grant Program
According to court documents, nearly two dozen states have filed a lawsuit against the Trump administration for canceling a $7 billion grant aimed at increasing solar energy in low income communities. In a Thursday statement, California Attorney-General Rob Bonta announced that a group states who received grants through the Environmental Protection Agency’s Solar for All Program have filed two lawsuits.