Suntech fraud investigation prompts class action lawsuits; claims of forewarnings
Following the news that Suntech may have backed fictitious bonds, two class action lawsuits have been launched in the U.S. Meanwhile, media reports claim warnings were sent to the China Development Bank (CDB) urging it not to invest in southern Italy, due to the risk of fraud there. With an estimated debt of US$2.3 billion, there are fears Suntech will reach “breaking point” in 2013.
Tokelau: Worlds first 100 percent PV territory
The South Pacific territory of Tokelau is set to become the first territory to have its electricity provided entirely by photovoltaics. The archipelago is a dependent territory of New Zealand.
Sovello: Situation worse than expected
According to the liquidator, the financial position of Sovello is far worse than feared. The former CEO, Reiner Beutel has resigned from his post. Despite this, operations will continue for the time being.
Germany: 4373.5 MW installed in first half
The German Federal Network Agency has announced that in June alone this year, about 1.8 GW of new PV capacity was added to the grid. Reasons may have been the EEG discussions and the expiry dates for transition periods for larger systems.
'No More Solyndras Act' advances, as sticks and stones are aimed at DOE loans
Led by Chairman Fred Upton (RMichigan), on August 1, the U.S. House Committee on Energy and Commerce effectively voted “aye” on Department of Energy (DOE) loan guarantees for nuclear and fossil fuel programs, but “nay” to further support for solar and wind energy.
Schüco exits thin film business
The thin film crisis has hit Schüco. The company has said it will permanently stop thin film module production, and research and development.
Polands KGHM to produce solar cells
Polands leading copper and silver miner, KGHM Polska Miedz has announced plans to produce solar cells, according to the companys chief executive Hubert Wirth.
BMW heir to take over 94 percent of Solarwatt
Solarwatt CEO, Detlef Neuhaus says that BMW heir Stefan Quandt will guide the company’s restructuring as the “anchor investor”. Not all jobs can be retained though.
Germany: Saxony-Anhalt will not support Sovello
German state Saxony Anhalt will not provide any support for the insolvent Sovello. The state’s Economics Ministry accuses the company of not having a viable sustainable business concept in place.
US: Walmart's 100th solar installation in California
The College Avenue store in San Diego was unveiled today as the 100th Californian Walmart store to have rooftop solar panels. Walmart’s aim is to become fully powered by renewable energy.
