Markets

The Wuxi Municipal Intermediate People’s Court in Jiangsu Province, China, has officially accepted the petition for the insolvency and restructuring of Suntech Power Holdings Co., Ltd’s main subsidiary, Wuxi Suntech Power Co., Ltd, submitted by eight Chinese Banks on March 18.

Despite efforts by some Australian utility companies and industry groups to see Australia’s Renewable Energy Targets (RET) wound back, the government has decided to maintain them. Utilities are having an impact elsewhere, with fixed electricity prices set to increase to ensure solar households pay “their share” of electricity infrastructure costs.

A European Committee has spoken out in favor Germany-style renewable energy (EEG) feed-in tariffs, as opposed to a European-wide quota model, despite opposition from the EU Energy Commissioner.

The U.S. Department of Energy (DOE) has placed emphasis on the securitization of solar PV assets and associated cash flows in the marketplace. Securitization is expected to draw in more investors to the solar asset class. DOE’s SunShot Initiative will fund this move.

Figures from a SEIA/GTM Research study released last week have confirmed that the state of New Jersey has hit the 1 GW installed photovoltaic capacity milestone. The state added 415 MW of capacity in 2012, an increase of one-third on 2011, when 313 MW was installed.

Suntech Power Holdings Co. Ltd has appointed Weiping Zhou, former chairman of Guolian Futures Co., Ltd and finance department manager of government-owned investment company Wuxi Guolian Development (Group) Co., Ltd, executive director and company president.

Frost & Sullivan’s new report “Analysis of the European inverter market for renewable energy systems” states that the market will reach €5.24 billion in 2018. 2012 saw earnings of more than €3.58 billion. Emerging markets in Belgium, Slovakia, Greece, Czech Republic and Bulgaria are said to offer substantial opportunities.

Suntech Power Holdings Co. Ltd has today announced that a petition for insolvency and restructuring was filed against subsidiary Wuxi Suntech Power Holdings Co., Ltd on Monday, March 18. Wuxi Suntech has not objected to the filing.

This year’s PV Project Implementation Conference – China saw around 80 solar industry professionals gather to discuss large-scale opportunities in what is tipped to be the biggest PV market of 2013. In contrast to the government’s declared 10 GW targets, forecasts are that just 8 GW of new PV will be added in China this year. Meanwhile, rumor has it, the Golden Sun Program will soon be scrapped.

Talks between Germany’s Federal Environment Minister and state representatives ended inconclusively yesterday. As such, no agreement on the electricity price break is expected this week.