Enphase CEO Paul Nahi steps down during second-quarter earnings call
In a move that caught some by surprise, the third member of the founding team at Enphase said he felt it was time for a new CEO to continue its global growth. The company expects to name a new CEO by Aug. 31.
Solarworld’s insolvency administrator reaches agreement with investor
Solarworld Industries GmbH, for which the former CEO Frank Asbeck has been registered as managing director, wants to continue most of the cell and module production at its German facilities. The meeting of creditors must approve the agreement on Friday. The investors also take over the shares in foreign companies, but not in the US subsidiary of the German photovoltaic manufacturer.
6.5% of global GDP still subsidizing fossil fuels, study finds
Amount of money spent propping up global fossil fuel industry reaches $5 trillion a year, finds study conducted by the IMF and published in the journal World Development.
Tesla seeks $1.5 billion bond offering while shifting its solar strategy
The EV, battery and solar company continues to raise record amounts of cash as it ramps Model 3 production. At the same time, Tesla is emphasizing profitability from its solar business, which has undergone a significant transformation since the company bought SolarCity.
Xinyi Solar posts $160.5 million profit in H1
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.
Centrotherm lowers outlook for 2017
The German PV equipment supplier expects to post a loss for this year, due to a €11 million compensation paid to Algerian company CEEG.
SolarEdge reports 18% growth in the second quarter
The company credited shipments of nearly 2 million optimizers and 75,000 inverters, along with increased sales in Europe, for the increase.
Goldman Sachs, Tennenbaum buy Conergy’s Asia business
A unit of Goldman Sachs and funds under Tennenbaum Capital Partners have jointly acquired Conergy Asia & ME and its subsidiaries from Kawa Solar Holdings.
SunPower to sell its stake in 8point3
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.
Intevac’s revenue and profits pushed up by thin-film equipment sales
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.
