Finance

Iran will authorize 1 GW of solar and wind contracts in March and plans to put 5 GW online over the next decade.

Sharp has surprised many by awarding preferred negotiating rights to Taiwan’s Foxconn for its US$5.9 billion takeover bid, rather than the Innovation Network Corporation of Japan (INCJ). Meanwhile, the electronic giant has reported a net loss for the first three quarters of around $902.5 million, led by its Energy Solutions segment.

Toshiba’s latest earnings results show catastrophic losses for the Japanese electronics conglomerate, which are forecast to hit US$6 billion for the FY 2015. Its recent accounting scandal has forced it into restructuring. More emphasis will be placed on its energy and storage businesses, despite these segments also suffering sales declines.

United PV has today announced the withdrawal of a US$90 million lawsuit, after receiving $250 million from an investment fund under a deed of assignment, and reimbursement from Hareon for all arbitration and legal costs.

According to a new study by BNEF and the Business Council for Sustainable Energy, cumulative solar capacity in the U.S. has reached 28 GW, of which 7.3 GW was installed in 2015. Overall, last year saw 16 GW of renewables added, outstripping fossil fuels for a second year. Energy productivity is also growing, while prices remain stable. Investment, particularly in solar, is also on the rise.

Panasonic reports a slight decrease in sales and a sharper fall in profitability in its Eco Solutions business, which it blames on slowing domestic demand for its solar PV solutions and other products.

On January 29, SMA published its outlook for 2016, both in terms of financial goals and upcoming product innovations. Industry expert and Smart Solar Consulting CEO, Götz Fischbeck has crunched the numbers and examined how the German inverter giant was able to turn its business around. According to the data, the future is promising.

Rumors have been furiously swirling around the possibility of a bailout of Sharp Corp. Both Taiwan’s Foxconn and the Innovation Network Corporation of Japan have recently presented rescue plans. The latest news to emerge from Japan is a possible merger with CIS thin film pioneer, Solar Frontier.

E.ON today announced its net investments in renewable energy have surpassed EUR10 billion. The lion’s share has been directed into wind, while solar has received around EUR200 million. A spokesperson confirms the energy utility has a 1 GW solar pipeline in the U.S. and projects under the German tender scheme.

Elon Musk has confirmed Tesla will bring out a new version of its Powerwall home energy storage battery system this summer. While “step changes” can be expected, he declined to elaborate on the new product.