EV seed-stage company Tenet, which offers consumer loans for EVs, today announced it has secured $25 million in a first-of-its-kind warehouse facility from NY Green Bank for EV loan financing that originates in New York State.
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Early Tuesday morning, news of lower than 2¢/kWh bids from Saudi Arabia’s first round bids on 300MW of 9.5GW solar power projects started popping up. Seven of eight bids were below 3¢/kWh, and two of eight bids broke a prior record low. Questions have arisen as to the sustainability of the bids outside of these unique circumstances.
Dubai received bid of $.0299/kWh for 800MW of solar power. This price represents the lowest yet recorded for solar power (and might not represent the end of the price drops…).
Dubai Electricity and Water Authority (DEWA) has received 5 bids from international organisations for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park, said HE Saeed Mohammed AlTayer, MD & CEO of DEWA. The lowest recorded bid at the opening of the envelopes was US 2.99 cents per kilowatt hour. The next step in the bidding process will review the technical and commercial aspects of the bids to select the best one.
In the USA, in 2014 and with incentives, utility scale solar projects averaged $.05/kWh. On this bid alone, five companies bid below $.045/kW – without subsidies!
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In just the past few weeks, Tesla lost 2 Vice-Presidents. Last week, we reported on Tesla’s Vice President of Global Communications Ricardo Reyes leaving the company, and now we learn that the automaker’s VP of Finance and Worldwide Controller is leaving to return to Amazon as VP of Finance.
Michael Zanoni joined Tesla from Amazon in 2014.
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Only two months ago, Nevada Gov. Brian Sandoval approved a $335 million incentive package in a deal to secure that Faraday Future will build a $1 billion electric car factory in the state, more specifically in North Las Vegas. Now after the company reportedly broke ground at the site just a few weeks ago, we learn that Nevada Treasurer Dan Schwartz is questioning Faraday’s financial health after inquiries and a visit to China.
It looks like Faraday is subject to its fair share of scrutiny, especially after both Nevada and Tesla were criticized over the size of the incentive package the state agreed to give Tesla to build its Gigafactory near Reno. The package has been widely reported to be worth $1.3 billion and contributed to Tesla’s image as been dependent on government subsidies, but it’s important to understand that the incentives are spread out on 20 years and contingent on Tesla spending close to $100 billion at the factory during the same period.
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