Finance

Chinese PV developer and EPC specialist Xinyi Solar recorded a net profit of HK$1,254.9 million ($160.5 million) in the first half of 2017, up 12.5% from the preceding year, as its downstream unit’s cumulative installed capacity passed the 1 GW mark.

The German PV equipment supplier expects to post a loss for this year, due to a €11 million compensation paid to Algerian company CEEG.

The company credited shipments of nearly 2 million optimizers and 75,000 inverters, along with increased sales in Europe, for the increase.

A unit of Goldman Sachs and funds under Tennenbaum Capital Partners have jointly acquired Conergy Asia & ME and its subsidiaries from Kawa Solar Holdings.

The high efficiency PV maker has decided not to find a replacement for fellow sponsor First Solar, and instead to get out of the yieldco business.

The California-based equipment supplier sold one Matrix solar ion implant system and two Energi solar implant systems during the second quarter of this year.

Almost three months after announcing provisional insolvency proceedings, the German module maker has now entered the insolvency process. The company, however, is currently negotiating with a potential investor for the takeover of its two German production sites.

The German solar inverter specialist has increased its earnings forecast for the year to between €900m and €950m as orders swell.

Although the amount of investment remains undisclosed, Shell’s involvement is likely to support substantial expansion of Sunseap’s solar production activities in Singapore and beyond.

The Chinese clean energy giant is expecting losses over the first half of this year to amount to around $49 million following a difficult 2016 and further squeezing of the firm’s activities in 2017.