Finance

According to a new report issued by the International Energy Agency (IEA), already installed photovoltaic systems will produce “at least” 110 TWh, or 110 billion kWh in 2013, thus representing 0.5% of global electricity demand. This corresponds to the annual energy consumption of the Netherlands, it says.

Downstream solar companies dominated the global venture capital (VC) fundraising arena in the first quarter of 2013, finally benefiting from historically cheap panel prices, according to consultants Mercom Capital Group.

With shares in insolvency-hit solar manufacturer Suntech leaping yesterday to close at US$0.48 on rumors Warren Buffett is interested in a purchase, all eyes will be on the stock when the market reopens at 3.30 pm today.

Ten PV projects in South Africa will benefit from a US$2 billion funding support agreement between Standard Bank Group and the Industrial and Commercial Bank of China (ICBC).

LDK Solar is still awaiting governmental approval for the sale of LDK Anhui. The closing date for Shanghai Qianjiang Group to purchase the subsidiary was originally set for March 31.

Following Bosch’s announcement that it is exiting the crystalline photovoltaic business, the Germany-based electronics giant has confirmed it has received offers from interested parties. It is unclear, however, how long Bosch will take to review them.

Germany-based Photovolt Development Partners has unveiled a photovoltaic pipeline worth 925 MW (DC) in Japan. Completion is scheduled for between 2014 and 2015. The company is also planning to install 110 MWp in Israel and 35 MWp in Mexico.

China dropped import duties and value-added tax (VAT) for a variety of equipment, including for solar cells and lithium-ion batteries on April 1, thus sending a “positive signal” to the China-Europe trade negotiations.

China’s Suntech Power Holdings collapsed under the weight of its own inventory in March, leading to weeks of volatility in the solar equities market in New York. German companies have also seen stocks suffer a shaky month. Overall, it is forecast, focus will be placed on First Solar, SunPower and MEMC/SunEdison in the coming months.

Led by large-scale installations, photovoltaic demand in Emerging Asia Pacific and Central Asian (EAPCA) countries is forecast to grow 28% annually to reach at least 3 GW by 2017, according to NPD Solarbuzz.