Legal firm asks Sunnova investors burnt by IPO to get in touch
First-half losses that ballooned to $85.3 million saw the share price of the Texan third-party solar company fall 8% according to San Diego law firm Robbins Arroyo LLP. The legal business says it is investigating ‘potential violations of federal securities laws’ in connection with last month’s IPO.
Brazil’s faltering manufacturing ambition
A binational integrated solar industry project, announced just over a year ago, aims to build a vertically integrated solar manufacturing industry along the border between Brazil and Paraguay. But the project is now on hold pending an update and reassessment by its new managers.
The weekend read: Reactivating Mexico’s large-scale sector
The Mexican electric power industry is maintaining its dynamism, despite a collective perception of inactivity stemming from a lack of information from the federal government. And renewables are barely mentioned in the National Development Plan for 2019–2024 drawn up by Mexican President Andrés Manuel López Obrador.
GCL-Poly making polysilicon at a loss as it piles up $3.36bn more in liabilities than assets
With the company’s up-for-sale project development business revealing extensive debt concerns yesterday morning, that revelation is only half the story.
China added 11.4 GW of solar capacity in first half of this year
According to official statistics produced by the nation’s National Energy Administration, China’s cumulative installed PV generation capacity had reached 185.5 GW at the end of June.
US electricity retailers are ditching fossil fuels
Three different retail electricity providers in the United States have announced new programs to provide customers the option to buy 100% renewably sourced electricity, with one of the three even coming at no additional cost.
German thin-film manufacturer Solibro reportedly set to file for insolvency
Solibro GmbH is expected to make the move this month, according to a German media report. The company has yet to publicly confirm the move.
RES secures development approval for 200 MW in Australia
U.K. developer RES Group has obtained approval to build the 200 MW Avonlie Solar Farm in the Australian state of New South Wales.
GCL project development business has $1.6bn current liabilities deficit
The opening pages of the first-half update published on the Hong Kong exchange made all the right noises with the company set to be acquired by a Chinese state-owned entity. But the balance sheet makes for shocking reading.
Another 300 MW solar auction for Japan
The procurement exercise, which closes tomorrow, will be open to projects larger than 500 kW in size. The results will be announced on September 3.
