Markets

Production at the insolvent Germany-based photovoltaic company, Sovello is at a standstill. Despite this, talks are said to be ongoing with “major strategic partners”.

Yesterday’s meeting at the German chancellery offered little in the way of tangible results. It was only agreed that the development of renewables should be curbed, the EEG reformed and the industry relieved. Representatives of the photovoltaic and wind associations were not, however, invited to participate.

According to reports, 47 representatives at the insolvent Q.Cells SE are currently deciding whether South Korea’s Hanwha, or Spain-based Isofotón will get to take the German company over. When the decision will be reached is not yet known.

Poland’s state-run National Fund for Environmental Protection and Water Management (NFEPWM) has announced it will add a further PLN 150 million (€36.5 million) to its grant program aimed at Polish households that purchase photovoltaic modules.

Continuing its battle with the tumultuous solar market conditions, Yingli Green Energy Holding Company Limited has recorded a massive Q2 2012 net loss and decreased revenues. For the full year, the company has lowered its photovoltaic module shipment guidance.

Like Yingli, JA Solar has experienced a weak Q2 2012, compared to Q1. Annual improvements have been seen, however and a new sales record set. Overall, the company has revised its FY shipment guidance downwards.

Q.Cells SE has announced that the South Korea-based Hanwha Group has won its bid to take the insolvent Germany company over.

Following the news that Spain-based Isofotón had also submitted a bid to take Germany’s Q.Cells over, pv magazine has learned that if the offer is accepted, it will invest €300 million in Q.Cells’ businesses. Under 10% of the workforce would also be cut.

Helios Energy will install a 30 MW photovoltaic plant in central northern Nigeria, following the signing of a memorandum of understanding (MOU) between the German company and the Governor of Kaduna State.

Panasonic and Coronal Management LLC will establish a new solar company in North America, under which funding will be provided for distributed generation solar systems built by Panasonic Eco Solutions North America.