Phoenix Solar cuts profit target
The cancelation of a major PV project in Asia has forced the German company to lower its earnings forecast. Nevertheless, Phoenix Solar’s free order backlog far exceeds 2014 levels.
SolarReserve receives CSP SunShot award, to advance storage technology
SolarReserve LLC has received an award from the U.S. Department of Energy under the SunShot Initiative to advance its CSP technology. With the help of a US$2.4 million grant, the company aims to improve its molten salt energy storage capabilities.
Utility-scale battery storage to reach 12 GW, $8.44 billion by 2024
Utility-scale grid connected battery storage is set to reach up to 12 GW by 2024, while annual revenues will grow to around US$8.44 billion. The U.S. will be a leader, followed by China, Japan and Germany. Despite an overall positive outlook, there are significant market challenges to overcome. These are the findings of a new report by Frost & Sullivan.
Yingli to ship 170 MW PV modules for projects in China
Representing the module manufacturers largest domestic deal to date, Yingli Green Energy Holding Company has signed a 170 MW solar PV module contract with CFC Group Construction Limited. The modules will be shipped in the third and fourth quarters of this year.
US solar loan company secures $300 million in capital
Sunlight Financial LLC has secured US$300 million in capital. It will use the funds to expand its business platform.
UK: Industry calls on government to reconsider FIT cuts
The U.K. Solar Trade Association, along with a number of large solar stakeholders have drafted a joint statement to the government, calling on it to reconsider its proposed drastic FIT cuts. The parties involved asked to meet with the government, for “appropriate consultation.”
The pv magazine weekly news digest
Events at the Solar Power International exhibition in California complement a busy week for the U.S. solar industry, while Dubai’s grand plans and Trinas new business strategy also turns PV heads.
Silicor raises US$105 million to support UMG polysilicon in Iceland
Silicor is planning to build the world’s largest upgraded metallurgical-grade (UMG) polysilicon plant in Iceland, but still must raise more funding before starting construction.
India: ABB secures $18 million in solar-related orders
The Swiss engineering giant’s biggest project is Adani Group’s 648 MW PV plant in the southeastern Indian state of Tamil Nadu. Earlier this year ABB became the first company in the country to deliver solar inverters with a cumulative capacity of 2 GW.
Trina not ruling yieldco out, addresses criticism
Last week, Trina said it will spin off its downstream solar PV project business, most likely under a “growthco,” due to FIT payment and grid connection issues in China. Responding to questions by pv magazine, the company has said, however, it is not ruling out the establishment of a yieldco, if the government steps up.
