Waaree lands 586 MW module order: Waaree Solar Americas, rhe US solar manufacturing arm of India’s Waaree Energies Ltd., has landed a 586 MW solar module supply order from US renewable energy developer Pine Gate Renewables. The latter will utilize these modules across 4 of its projects that are due to enter commercial operations in 2026. Waaree will fulfill this order from its 1.6 GW Brookshire, Texas solar module manufacturing factory, which is to be expanded to 3.2 GW. For Pine Gate, this $176 million transaction will bring it domestically manufactured modules aligned with the US Investment Tax Credits (ITC) guidelines. Waaree says it has already supplied more than 6 GW of solar modules from its India factories to the US. Along with the 1.6 GW US factory, Waaree operates 15 GW of solar modules manufacturing capacity and a 5.4 GW cell factory in India.
250 MW Microsoft contracted project online: North American renewable energy firm Invenergy has commissioned its 250 MW Hardin III Solar Energy Center in Hardin County, Ohio, US. It is majority-owned by WEC Energy Group, while Microsoft will purchase electricity and renewable energy credits (REC) from the facility under a power purchase agreement (PPA). Invenergy says it used domestically produced solar modules from Illuminate USA, a company in which it has a majority stake.
rPlus Energies secures over $500 million: US renewable energy company rPlus Energies has closed a tax equity financing commitment of more than $500 million for its hybrid solar project in Emery County, Utah. The Green River Energy Center project includes 400 MW AC of solar PV and 400 MW AC/1,600 MWh of battery storage capacity. It signed the financing commitment with RBC Community Investments and a syndicate of investors. The project will also use the federal Investment Tax Credit (ITC). It is contracted under a long-term power purchase agreement (PPA) with PacifiCorp. The project closed over $1 billion in construction debt financing in 2024 (see Over $1 Billion Debt For RPlus Energies’ RE Project).
$260 million for Onyx: Clean energy company Onyx Renewables has closed a $260 million credit facility to support the growth of its distributed energy projects in the US. It can be increased to $350 million. Onyx says Apterra Infrastructure Capital served as the administrative agent, lead arranger, and sole bookrunner for the financing, while Investec acted as a lender and letter of credit and hedge provider, and ATLAS SP Partners as a lender for the transaction.
Job cuts at Sunnova: US residential firm Sunnova Energy Corporation has announced laying off close to 718 employees, representing around 55% of the company’s workforce, to reduce its operating expenses, while announcing Chapter 11 bankruptcy protection filing for its subsidiary Sunnova TEP Developer. Based in Delaware, this subsidiary filed for Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on June 1, 2025 (see Sunnova Subsidiary Files For Chapter 11 Bankruptcy Protection).
Cider Solar Farm raises finance: Amalgamated Bank has announced the successful close of a $5 million commitment for Greenbacker Renewable Energy Company’s 674 MW DC Cider Solar Farm. This is part of nearly $1 billion aggregate financing to support the construction and operation of what it says is the largest solar project in New York State. The project is currently under construction and is projected to enter commercial operations by the end of 2026.
Silicon Ranch’s investment in Swap Robotics: US solar projects developer Silicon Ranch has made a strategic investment in utility-scale solar robotic operations company Swap Robotics. It said that Swap’s fully electric, autonomous robots align seamlessly with its Regenerative Energy, under which Silicon Ranch manages its agrivoltaics portfolio. It incorporates regenerative ranching and other such practices to restore soil health, promote water quality and biodiversity. Swap’s robotic equipment will be deployed to cut the vegetation on Silicon’s agrivoltaic sites. The latter can also help with material movement on solar sites, thus reducing labor costs for the US company. With this investment, Silicon Ranch Co-Founder and CEO Reagan Farr will join Swap’s board of directors.