MEMC refutes Japanese investment claims

Share

Bloomberg, Reuters and various renewable news outlets reproduced the claims.

pv magazine made enquiries as to the validity of the claims, and MEMC responded today, saying that it is unwilling to confirm the reports.

The MEMC statement reads: "While SunEdison remains interested in this market, the company’s plans in Japan are not yet firm due to uncertain project economics. Feed-in-tariff rates have not been determined by Japanese officials, and therefore neither project pricing nor project costs can be known at this time."

It continued: "As a result, the size of SunEdison’s future investment in solar project development in Japan, if any, has not yet been determined. As the company’s plans in this market evolve, appropriate public announcements will be made to keep investors informed."

MEMC also released its fourth quarter (Q4), 2011 financial results. MEMC posted a GAAP net loss between USD75.5 million and USD88.1 million for the quarter, from net revenues of USD753.3 million.