Finance

CIGS manufacturer Avancis will turn one of its manufacturing facilities in Germany’s Torgau into a technology center. As such, 67 temporary employment contracts will not be renewed, and employees at the company’s Munich-based research department are to be relocated to Torgau.

2013 is expected to be a pivotal year for the Turkish solar industry, as the country’s Energy Market Regulatory Authority gears up to distribute PV production licenses for projects larger than 1 MW. Meanwhile, cumulative capacity is expected to surpass 4 GW by 2017.

U.S. thin film manufacturer and project developer First Solar has taken what appears to be a major leap forward, as its share price soared on the back of 2013 financial guidance, an acquisition announcement and a major efficiency improvement.

Following the signing of a contract by both parties, German photovoltaic inverter company Refusol is now a part of U.S.-based Advanced Energy Industries.

JinkoSolar recorded a number of hefty losses, both sequentially and annually. CEO, Kangping Chen blames continued photovoltaic module oversupply and lingering global economic certainties. He is, however, confident of the company’s strategy going ahead.

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.