Financial Information
Isofoton Builds First Solar PV Plant in Dominican Republic
14 August 2012POSTED IN Applications News
Isofoton and the Government of the Dominican Republic have signed last weekend a Power Purchase Agreement (PPA) giving the company the green light to begin construction of one of Latin America’s largest photovoltaic plants.
Canadian Solar, China Development Bank Sign C$93 Million Loan Agreement
13 August 2012POSTED IN Business News
Canadian Solar today announced that it has signed a C$93 million (US$93.8 million) loan agreement with China Development Bank.
The loan facility has a five-year maturity and will be used to partially finance the previously announced C$185 million (US$186.6 million) acquisition of a majority interest in 16 solar projects representing approximately 190MW to 200MW DC owned by the former SkyPower Limited.
SunPower Supports Residential Solar Lease Projects
08 August 2012POSTED IN Business News
SunPower Corp. today announced new commitments from Citi and Credit Suisse that will provide financing to support approximately $325 million (USD) of residential solar lease projects. SunPower will use the funds to supplement its successful SunPower Lease program to US residential customers, expanding the financing options available to homeowners interested in high-efficiency SunPower solar power systems.
SolarWorld Announces $27 Million Technology Upgrade
06 August 2012POSTED IN Business News
SolarWorld today announced investments totaling US $27 million to upgrade and replace several factory systems and debut technological advances that the company says will boost the power output of its solar panels.
First Solar Stock Soars
02 August 2012POSTED IN Business News
First Solar Inc. stock shares (US:FSLR) soared as much as 16% in after-hours trade on Wednesday 1 August after the company reported its second-quarter profit rose to $111 million (USD), or $1.27 a share, from $61.1 million, or $0.70 a share, one year ago. Revenue for the solar power company rose 79% to $957.3 million from $532.8 million.
UK Rooftop Solar Installation Produces 1GWh
01 August 2012POSTED IN Business News
One year after more than 7000 solar panels were installed on the roof of Promens Packaging's plant in Beccles, Suffolk, UK, the system has now generated more than 1,000,000 kilowatt-hours (kWh), or 1 gigawatt-hour (GWh), of green electricity. Lightsource Renewable Energy installed the system and operates it, leasing the roof space from Promens and installing the photovoltaic (PV) panels free-of-charge. In return, Promens benefits from substantial savings on its energy costs because it can run a significant part of its operations on the much cheaper "green" electricity it buys from Lightsource.
Credit Suisse Invests $200M in Sunrun Solar Projects
25 July 2012POSTED IN Business News
Sunrun today announced that Credit Suisse has committed US $200 million to help Americans obtain Sunrun solar power service. The investment supports the purchase and installation of thousands of residential solar systems across the US.
NRG and GenOn to Merge
23 July 2012POSTED IN Business News
NRG Energy and GenOn Energy have announced they have signed a definitive agreement to combine the two companies in a stock-for-stock tax-free transaction.
The companies say this will create the largest competitive generator in the US with a diverse fleet of approximately 47,000 megawatts (MW) with asset concentrations in the East, Gulf Coast and West and a combined enterprise value of US $18 billion. The combined fleet generates more than 104 terawatt-hours (TWh) of electricity annually.
GE Reorganizes Energy Business
20 July 2012POSTED IN Business News
GE today announced that it will reorganize its Energy business into three standalone businesses effective in the fourth quarter of 2012.
The company says it will phase out its Energy headquarters organizational layer by the end of 2012. This change will speed decision-making, reduce layers and decrease cost.
REC Sales Up, Earnings Still Poor
20 July 2012POSTED IN Business News
Renewable Energy Corporation ASA (REC) of Norway, a company that is currently restructuring, gained an increase in sales of polysilicon and PV modules in the second quarter of 2012.
Creditors Confirm Q.Cells Continuation
18 July 2012POSTED IN Business News
The creditors of insolvent photovoltaic (PV) company Q.Cells SE have unanimously approved that the continuation of the company. Insolvency administrator Henning Schorisch, thus, has the backing from the creditors to further pursue his plans. He will maintain operations of Q.Cells and drive forward a potential restructuring option, either via an investor solution or an insolvency plan.
First Solar Tops S&P 500
17 July 2012POSTED IN Business News
First Solar Inc. rose 95 cents, or 7%, to $15.12 USD a share on Monday, 16 July as the top-gaining stock among the components of the S&P 500 US stock index.
SPI 2012: How six companies navigate today's solar market
16 July 2012POSTED IN Business News
Executives from utility, manufacturing and finance companies share the stage at Solar Power International 2012 (SPI 2012) to discuss how their companies manage uncertainty due to the changing nature of policy. SPI 2012 takes place on 10-13 September at the Orange County Convention Centre in Orlando, Florida, US. Senior leaders from DBL Investors, Florida Power & Light, Hannah Solar, NRG Energy, SMA America and SunPower Corporation will offer their perspectives during a panel discussion on Monday, 10 September from 5:00pm to 6:30pm.
Premier Holding Secures 30% to 45% Equity Position in Skybridge Solar
12 July 2012POSTED IN Business News
Premier Holding Corp. and WePower Ecolutions Inc. announced today the signing of a Letter of Intent (LOI) with Skybridge Solar, LLC to acquire an equity position between 30% and 45% in Skybridge.
Intersolar NA 2012: Leviton enters zero-money-down rooftop solar market
11 July 2012POSTED IN Business News
Leviton Solar, at Intersolar North America booth 8547, has entered the zero-money-down home rooftop solar market.
Centrotherm Photovoltaics AG Reorganises
11 July 2012POSTED IN Business News
Centrotherm Photovoltaics AG today submitted an application to the relevant District Court of Ulm for the launching of insolvency protection, and plans to pursue a path to reorganisation.
Hanwha SolarOne Invests $8M in Silent Power
09 July 2012POSTED IN Business News
PV manufacturer Hanwha SolarOne today announced a strategic partnership with Silent Power, an energy storage systems company.
The Hanwha Group, Korea’s top-10 business group, led Silent Power’s Series B funding round with an $8 million investment. The investment strengthens the Hanwha Solar network, enhancing the Hanwha Group’s solar offerings, the company says.
Isofoton Receives 8.4M€ Andalusian Government Loan
05 July 2012POSTED IN Business News
Solar cell manufacturer Isofoton has received an 8.4M€ loan from the Andalusian Government, which adds to its 40M€ investment by Samsung.
The company says the loan will help Isofoton achieve 20% solar efficiency and attain an annual production capacity of 300MW, a three-fold increase compared to two years ago.
PV Manufacturing in Germany under Changing Market Conditions
03 July 2012POSTED IN Editors Blogs
Schott Solar stops its crystalline silicon production by the end of the year due to difficult market conditions. Global Solar “addresses the challenging EU solar market conditions” and stops production of flexible CIGS-modules at the plant in Berlin-Adlershof, a facility that has started production late August 2011 and thus was on-line less than 12 months.
Community and Residential Energy Storage Market
03 July 2012POSTED IN Business News
Commonly located at the edge of the power grid, community and residential energy storage (CRES) systems use a range of technologies including flow batteries, advanced lead-acid batteries and, most commonly, lithium ion (Li-ion) batteries. At this time, most of the CRES market is still in the technical demonstration phase, as developers of energy storage systems use these locations as pilots to understand the technical requirements of CRES.
