Manufacturing

Suntech Power Holdings Co. Ltd has released preliminary, unaudited, financial figures for Q4 and FY 2012. As expected, the company suffered from significantly falling sales and a battered gross margin. Meanwhile, a creditors meeting has been scheduled for earlier than planned for the insolvent Wuxi Suntech.

At 54%, electricity production from renewable energy reached a record high in Spain last month. Photovoltaics, meanwhile, met 3.6% of demand.

New Jersey’s largest electricity provider Public Services and Utility Group (PSE&G) has reached an agreement with New Jersey Board of Public Utilities (BPU) and other parties to increase renewable energy spending.

Insolvency proceedings have officially opened against AE Photonics. All employees have already been laid off. Both the parent company and its Greek, Indian and U.S. subsidiaries will now be liquidated.

Following approval, four former board management members of Conergy will pay the German photovoltaic company over €6 million under a settlement agreement. Part of the funds are expected to be paid to investor plaintiffs under a second settlement agreement.

A power-to-gas research project has been launched in Germany. A research network of institutes and companies will evaluate the capability of long-term storage technologies in a 100% renewable energy electricity scenario.

In issuing select preliminary Q1 2013 financial results, Canadian Solar Inc. expects its photovoltaic module shipments and gross margin to exceed previous guidance.

IHS has released its latest PV inverters quarterly report. Despite indications of industry consolidation, the top ten largest PV inverter suppliers saw their market share fall from 62% in 2011 to 56% in 2012.

Solar stocks in New York rallied this month on the back of news that a bill introduced in the U.S. Congress would provide solar companies with a tax advantage enjoyed to date only by fossil fuel producers. The sector also received several votes of confidence that increased market momentum, including ABB’s Power-One acquisition, and BNEF’s elevation of Japan to the number-one market for PV installations.

IHS forecasts that global photovoltaic module production will grow 18% this year, to over 37 GW; and that OEM manufacturers will increase in significance. Meanwhile, it has identified the top 10 module suppliers by production of 2012.