The International Energy Agency (IEA) has been reported by Bloomberg as saying that the majority of the world’s power will be produced by solar by 2060. What’s more, photovoltaic and solar-thermal plants may meet half of all energy needs by this date.

The International Herald Tribune (IHT) in Greece has reported that a “mammoth” 10 gigawatt (GW) solar plant is being planned for Greece. The project would be driven by investment from Germany.

Vertically integrated photovoltaic manufacturer LDK Solar has announced its second quarter (Q2) financial results that included a USD $47.9 million operating loss, representing -9.6 percent operating margin. However, with recently improving order patterns and stabilizing prices the company expects a resumption of growth in the second half of 2011.

Etrion Corporation has completed its 10 megawatt (MW) Helios ITA-3 solar project in Puglia, Italy, thus bringing the company’s photovoltaic portfolio in the country to 60 MW.

On Thursday, Conergy’s supervisory board filed suit against four former board members. Now the former chairman is defending himself against the allegations. In other news, there are reports that Conergy only plans to manufacture solar modules in Frankfurt/Oder.

The dust apparently refuses to settle at the Hamburg-based photovoltaic company. Conergy has now decided to sue four of its former members of the board for violations as established under the German Stock Corporation Law.

A consortium of banks have provided €110 million in financing for five photovoltaic projects worth 30.4 megawatts (MW) in Italy.

Following rumors that Germany-based Conergy is looking to reduce its Frankfurt, Oder manufacturing operations and close down certain production lines, a works council called a meeting to inform the employees about the situation.

The Specialty Films Division of Madico Inc., announces the expansion of their internal Performance Analysis Lab. The state-of-the-art lab is an extension of Madico’s Research and Development division, located at their corporate headquarters in Woburn, MA.

Democratic Party Prime Minister Naoto Kan has informed his cabinet that he will step down however it appears as if his final act in power will be to see renewable energy legislation signed into law.