Finance

Declining shipments, price pressure and a downturn in the domestic market took their toll on SolarWorld’s bottom line in the first quarter of the year: the one-time industry leader saw a significant drop in revenue while losses swelled dramatically.

Greentech Energy Systems A/S plans to invest in the United States, as business in Europe remains low.

LDK subsidiary Sunways aims to prevent insolvency proceedings, as the company announced today (Wednesday) that business operations are back to normal.

Canadian Solar’s saw sales in Asia skyrocket as it expands operations in the region. The move has helped reduce first quarter losses as business decreases in Europe and North America.

Chinese panel giant Suntech has sparked fears it will start a fire sale of its huge inventory by agreeing to sell 30 MW of its products to a rival manufacturer for just US$0.49/Watt.

The management board of the inverter manufacturer for photovoltaic systems is still unable to rule out a loss for the current financial year. Thus there will presumably be further layoffs at SMA.

Panasonic set to close wafer production at Oregon plant.

Aleo Solar AG announced today it was currently holding initial talks with potential investors to sell Bosch’s majority stake of the German photovoltaic manufacturer.

Chinese photovoltaic manufacturer Wuxi Suntech Power Holdings Co., a Suntech Power subsidiary, owes a domestic debt of $2.5 billion to local creditors, according to media reports.

Centrosolar sharholders have approved a debt-for-equity plan that will drastically reduce debt by swapping outstanding liabilities for 5.5 million new company shares as part of a restructuring plan.