The World Bank Group announced it will commit $1 billion USD towards financing battery-storage systems in developing countries. It expects to attract an additional $4 billion USD from investors, as well as public and private funds, through its participation in the market.
OPIC will provide $25 million USD in financing to a fund managed by off-grid solar firm SunFunder, which will be directed at providing loans to companies in the solar off-grid sectors of Sub-Saharan Africa and Asia.
The Italian government came forward with a new decree related to renewable energy development, which improved conditions for the development of PV plants, and also launched a series of auctions that could bring 4.8 GW of new capacity online (with the first 500 MW auction planned for January 2019). Additional tenders for projects <1 MW for 650 MW of solar and wind were announced, as well as 700 MW of PV projects related to asbestos removal efforts.
Approval was given to 392 rooftop solar PV projects, with a combined capacity of 230 MW, under a plan that was launched in 2016, to realize 1,450 MW of rooftop solar within 3 years.
Local power utility Tanesco launched a tender for the development of solar power plants across 6 regions in the country, ranging from 20 to 50 MW in size, but with a combined capacity of 150 MW in mind.
Enel Green Power México upgraded its Villanueva solar park from 754 MW to 828 MW - once again reaffirming its status as the largest solar PV project in the Americas - and expanded the 238 MW Don José solar park to 260 MW.
The Chinese solar manufacturer and developer, which only recently set up shop in Vietnam, signed a power purchase agreement with local company Tasco for Risen's upcoming 61 MW solar PV plant in Ninh Thuan.
JCM Matswani Corp, which was backed by InfraCo Africa, JCM Power and Matswani Capital, signed a power purchase agreement with Malawi's national utility for the power produced by the 60 MW Salima Solar PV plant.
The Israeli firm said it managed to secure funding from the European Fund for Strategic Investments (EFSI) to support the realization of their 300 MW subsidy-free solar plant in Spain, which should be operated on a merchant basis.
Norwegian power firm Statkraft revealed plans to invest $1.2 billion USD in renewable energy each year from 2019 to 2025. It set specific targets for reaching 6,000 MW of onshore wind and 2,000 MW of solar power capacity by 2025.