Finance

Following the official announcement by the U.K. Government of the new FIT for renewables from 2016 onwards, there has been a backlash about the lack of support for ground-mounted systems. IHS tells pv magazine the sector is unviable post March, while it will be hard for solar to play a larger role in the country based on the changes. BNEF expects to see a Q1 2016 boom bigger than this year’s, and Lightsource is already planning large-scale projects sans subsidies.

With a six-month deadline for bringing its stock above US$1/share pending, the company that was formerly the world’s largest module maker is taking action.

The California-based company plans to use net proceeds for general corporate purposes, including pursuing its HoldCo and YieldCo strategies, capital expenditures, lowering debt and potential acquisitions.

Company co-founder, Robert Hartung has, alongside an unnamed, strategic investor, been identified as the new majority shareholder of centrotherm photovoltaics AG. Subject to conditions being met, the purchase agreement will be completed in Q1 2016.

The Dow Chemical Company and DuPont have unveiled their US$130 billion “merger of equals” plan. Combining their expertise, say the two, will create a “technology leader across four high growth segments,” including solar PV materials.

Renewable energy groups from the Czech Republic are meeting with the European Commission (EC) today to lobby against the country’s electricity market operator, which has refused to issue a 2016 pricing decision for renewable remuneration without confirmation of support from the EC. The groups are calling for an investigation into the situation.

The Indian Government expects 4.3 GW of solar PV capacity to be added in fiscal year 2015/16. In the first seven months, just 936.8 MW were commissioned. In 2016/17, the government envisages 11 GW of solar. However, policy uncertainty and delays in state government initiatives are a “major concern” for the country’s solar industry, says Bridge to India.

This week in PV news: Mexico approves energy reform, India installs the largest single rooftop solar in the world and the U.S. looks set to install a whopping 3 GW this quarter. In the U.K., a proposed tax hike on solar panel generates further woe and Dubai’s 800 MW tender has major global PV players scrambling to the Gulf.

First Solar Inc. forecasts modest growth next year, with net sales, operating expenses and shipments all expected to remain relatively flat. Net cash should see an increase, however, while CAPEX spending is set to double, and capacity will rise by around 20% to 3 GW. Three main priorities were outlined. Shares fell around 8% following the news.

Manz AG has announced that 174 employees will go, primarily in Germany and Asia, although its other European sites have also been affected. Capacities will be adjusted accordingly. It hopes to save around EUR 7 million. The strategic options for its Solar segment are still under review. A further announcement is scheduled for the beginning of the New Year.