Modules & Upstream Manufacturing

Power Finance Corp. (PFC) and Rural Electrification Corp. (REC) committed debt funding of $3.9 billion each.

Engineers at the University of New South Wales (UNSW) have developed a new, more effective method to recycle end-of-life solar panels. The technique allows them to quickly and efficiently separate 99% of PV cell component materials.

Avaada has signed an agreement with REC for INR 20,000 crore (around $2.44 billion) investment to fund its multiple projects over the next five years.

Rystad Energy says that about €7 billion ($7.8 billion) of solar panels are now being stored in Europe, but European developers continued to buy solar modules from China throughout the first half of this year.

India exported solar PV cells and modules worth INR 8,440 crore in FY 2022-23. USA was the top destination with a 97% share.

The National Renewable Energy Laboratory (NREL) has made highly bifacial perovskite cells with a front-side efficiency of 23%.

Solar Energy Corp. of India Ltd (SECI) is accepting bids from solar manufacturers in India to supply 1 GWp of PV modules built with domestically manufactured solar cells. Bidding closes on August 17.

Norsun and Midsummer have both secured financing to support their capacity expansion plans. Norway’s Norsun plans to raise its polysilicon capacity to 3 GW and Midsummer wants to build a 200 MW module facility in Sweden.

French eco-organization Soren, which collects and recycles end-of-life solar panels, has published its 2022 annual report. Last year, more than 10 million solar panels were put on the market in France, up 25% from 2021.

Swiss manufacturer Meyer Burger Technology AG says it will probably build a new 3.5 GW factory at an unspecified location in Spain. The EU Commission is expected to issue a formal decision on granting funding for the project by the end of this year.