Finance

Hanwha’s takeover of Q Cells is bearing fruit, with Q3 recording significantly improved earnings results. In addition to a return to net profitability, Hanwha Q Cells Co. Ltd has raised its gross margin forecasts for Q4, and expects shipments to increase at least two-fold. Capacity expansions are on the cards for both this year and 2016.

LDK has been in financial trouble for years, but has provided little information as to why President & CEO Xingxue Tong is departing.

Climate financing reached US$391 billion in 2014. While private investment comprised the lion’s share – driven by renewable energy deployment, and solar PV in particular – public financing notably increased. Despite the rise, the investment gap between what is required and what is being delivered is said to be growing. A preference towards domestic financing also highlights the importance of policy and support frameworks.

SMA Solar Technology AG has again raised its full year earnings forecasts, despite recording an overall net loss. Restructuring efforts are also paying off, with the company recording cost savings of €100 million. In 2016, it expects inverter sales in the Americas to increase by more than 35%; Japan will see a decline.

GCL-Poly Energy Holdings Limited has seen increases in both production and sales of its polysilicon and wafer businesses. Its preliminary result also show stable average selling prices (ASPs). No earnings results were communicated, however.

Etrion Corporation has seen net loss plummet in both Q3 and the first nine months of the year, on the back of low electricity prices in Italy and impairment charges associated with the freezing of its solar PV pipeline in Chile. Revenues and EBITDA were also negatively affected.

Ascent Solar Inc. has signed two definitive agreements to raise US$35 million. In addition to contributing to ongoing working capital, the funds will be used to repay debt.

Buried in Taiwanese PV maker NSP’s Q3 results is a statement that the company is moving production capacity to an un-named Southeast Asian nation.

Sunpower has introduced a new PV module series based upon a novel interconnection technology, as well as warning of a fall in revenues and a loss in 2016 as it plows more projects into its yieldco.

Work on what will become one of the Philippines largest PV plants when complete, is underway. JA Solar has supplied 92.5 MW of its solar modules to the Cadiz Solar Power Project, located in the Negros Occidental province. Overall, the Department of Energy (DOE) has approved 2.5 GW of solar projects in the country.