Daily News Wrap-Up_HSBC Launches Green Deposits, Suntech Expands Solar Manufacturing

JinkoSolar announced that it had signed a contract with Shanghai Electric to supply around 1 GW of solar modules for Phase V of the Dubai Electricity and Water Authority’s solar project. The manufacturer will provide its Swan series modules for the solar project located in Dubai.  JinkoSolar also signed a strategic partnership agreement with Shanghai Electric to cooperate in the development, bidding, investments, and construction of overseas solar projects.

HSBC India launched its Green Deposite Program for corporate clients. The company said that the green deposit, which is available in rupees, would be used to finance green initiatives like renewable energy, clean transport, pollution prevention and control, sustainable water, green building, wastewater management, and other sustainable projects. The bank added that it would provide a quarterly report regarding the usage of deposited funds to its customers.

Suntech Power, a China-based solar panel manufacturer, has expanded its high-efficiency module production capacity by 3.5 GW at its Changzhou manufacturing facility. Suntech Power said that it invested 700 million renminbi (~$101.18 million) for the new module manufacturing facility, which is equipped with the new smart module production workshop. It added that the new manufacturing facility could produce around 450 MW of modules in batches.

Capital Dynamics, a Switzerland-based global asset management firm, announced that it signed an agreement with a U.S.-based energy company Tenaska to develop a portfolio of battery energy storage systems (BESS). The company said that it would develop a portfolio of nine BESS projects at various highest electric load centers in California. It added that the projects would provide 2 GW of clean energy to the California Independent System Operator (CAISO) market. Capital Dynamics and Tenaska also jointly own two solar projects in the Imperial Valley of California.

AC Energy Philippines announced that it is set to develop two new solar projects in Central Luzon with a total capacity of around 150 MW to expand its renewable energy portfolio. The company said that the first 75 MW project is located in Arayat, and is expected to start its power generation in the fourth quarter of 2021. The second 75 MW project is situated at Palauig, Zambales, which is expected to reach completion in the first quarter of 2022

Here is our previous daily news wrap-up.