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Accurate forecasting of regional solar photovoltaic power (SPVP) generation is essential for efficient energy management and planning. Existing approaches have shown the effectiveness of decomposing the time series to model the stochastic variability in SPVP data. However, these approaches have limitations in extracting and exploiting both spatial and temporal information from complex and high-dimensional data from multiple sources with intricate relationships, which can impact the accuracy of predictions. In this paper, we propose a novel approach called multilevel data fusion and neural basis expansion analysis (MF-NBEA) for forecasting aggregated regional-level SPVP generation. MF-NBEA integrates exogenous data at multiple levels, uses supervised and unsupervised encoders to provide compact data representation, and enhances model learning from complex data by incorporating spatial information. It also includes a sequence analyser module based on a neural network decomposition mechanism to learn the variability in data and incorporates a residuals learner module to improve overall predictions. We evaluate MF-NBEA using two real-world datasets and find that it outperforms state-of-the-art deep learning methods in terms of forecast accuracy. Furthermore, MF-NBEA facilitates information fusion and knowledge extraction to provide interpretable predictions regarding trend, seasonality, and residual components. The insights gained from our approach inform decision-making for energy management and planning, and can lead to more efficient and sustainable resource utilisation. • MF-NBEA for multivariate solar power time series forecasting. • A 3D autoencoder encodes spatial and temporal information from heterogeneous sources. • Interpretable forecasting in terms of trend, seasonality, and residuals. [ABSTRACT FROM AUTHOR]