Could Utility-Scale Solar Financing with Bonds Be the New Normal?

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feature-0-1370325129985.jpg In late April, concentrated photovoltaic (CPV) manufacturer and solar project developer Soitec announced that it had finalised a bond that will be used to finance a portion of its 44 MWp CPV plant in Touwsrivier, South Africa. The bond, worth some ZAR1 billion (approximately US$85 million) is the first publicly-listed project development bond ever issued to finance a CPV solar power plant, and only the third bond issued to finance any type of solar installation worldwide.