Finance

The beleaguered German company’s remaining noteholders today backed restructuring plans which now have to win approval at tomorrow’s extraordinary shareholders’ meeting.

The publication of the EU acceptance of Chinese undertakings on minimum prices for solar products was predictably light on detail. The list of participating manufacturers in the trade agreement is more or less comprehensive.

The chief operating officer of Gehrlicher Solar says the EU-China agreement “is of no use to anyone” but nevertheless welcomes an end to the dispute-related uncertainty.

SolarWorld’s planned debt to equity swap was waved through by creditors on Monday. A second group of noteholders vote on Tuesday ahead of an extraordinary shareholders’ meeting on Wednesday.

IHS predicts solar manufacturers in Taiwan and Korea will soon be able to offer solar products in Europe below the minimum price negotiated for Chinese products last week.

EU member states voted to accept the EU-China trade deal announced by commissioner Karel de Gucht last weekend. An EU press spokesman said no member state had voted against the agreement.

Solar played its part in U.S. energy company NextEra’s profits from April to June but wind is still the company’s favored renewable and the year on year six-month figures were less encouraging.

Munich solar manufacturer CentroSolar has little to cheer from its second quarter figures but the auditing of its 2012 accounts has cleared the way for September’s critical debt to equity swap.

Japanese giants see their balance sheets boosted by the domestic solar boom. In response, Sharp announces plan to widen its solar product range and expand its development business.

The U.S.’ second biggest solar manufacturer returned to profitability in the second quarter. Operating at full capacity, the company is weighing a fab expansion to meet growing global demand, particularly from Japan.