Mercom Capital: $3.2 billion total corporate funding for solar raised in Q1
Information published by industry analysts Mercom Capital Group shows that a total of $3.2 billion was raised from 60 deals in the first quarter of 2016. This represents a major increase from the previous quarter, when $1.6 billion was raised in 45 deals.
United Photovoltaics Group agrees to acquire 200 MW plant in China’s Ningxia
A Chinese group’s unit has formally agreed the acquisition of 200 MW solar power plant in China from Beijing Zhongteng IOT Technology.
Battery storage, smart grid, efficiency companies raise $ 435 million in VC funding in Q1
Battery storage, smart grid and energy efficiency sectors experienced YoY increase in venture capital funding in Q1 2017, finds the latest report by Mercom Capital Group. QoQ increase reported in all but battery storage.
Solargiga posts increase in shipment, revenue in Q1 2017
The Chinese PV manufacturer ended the first quarter of 2017 on an upbeat note.
United PV to raise $85.4 million with share issuance
The Chinese solar investor and developer has revealed plans to issue 700,000,000 shares to Driven Innovation at HK$0.95 per share, representing about 9.39% of its existing issued share capital. It expects net proceeds to reach HK$664.5 million ($85.4 million).
Suniva files for chapter 11 bankruptcy
Two weeks after laying off 131 employees without notice and closing its module plant in Michigan, one of the largest U.S. manufacturers has filed for chapter 11 bankruptcy.
Singyes Solar records 43% rise in net profit in 2016 full-year financials
The Chinese solar manufacturer saw revenue and profits both increase considerably last year. The company’s solar EPC business registered a 51% increase in turnover in 2016.
Yingli reduces losses despite Y-o-Y drop in revenue and shipments for 2016
The struggling Chinese module maker was able to reduce its losses in fiscal 2016. Revenue and shipments for last year, however, were down due to lower ASPs and lower utilization rate of production capacity.
Canadian Solar sells two PV power plants to Shenzhen Energy for $99.8 million
Canadian Solar is racking up sales in China with another two solar power plants traded for $99.8 million.
Toshiba posts 9-month net loss of $4.85 billion
The Japanese group — which develops solar projects and provides PV systems solutions, in addition to EPC and O&M services — has warned of “substantial doubt” over its “ability to continue as a going concern,” largely due to the decline of its nuclear business in the U.S.
