GTAT next solar company to announce job cuts
GT Advanced Technologies Inc. (GTAT) has announced it will reduce its global workforce by around 25%. The streamlining is expected to save the company around US$13 million annually. Both economic and trade related challenges were cited as reasons.
KLA-Tencor exits solar inspection business
KLA-Tencor has announced it will be immediately halting its solar inspection operations, due to declining business opportunities and a weak market outlook. No impact on the companys financial or operational results are expected.
PV market pickup forecast for 2H 2013
New photovoltaic installations worth over 31 GW are predicted for 2012, despite continuing overcapacity and price declines. Forecasts are that the global industry will return to growth in Q2 2013, and will regain lost ground in Q4.
Construction to begin on 1 GW Serbian PV project
A one GW, 1.75 billion photovoltaic project has received the green light in Serbia, after the government and project developer, Securum Equity Partners & Associates signed a binding framework agreement on October 25. Construction is scheduled to begin next April.
Singulus announces job cuts in solar sector
Singulus Technologies has announced it will reduce its solar workforce in Fürstenfeldbruck, Germany, by 40% by the end of 2012, on the back of a market decline for silicon solar cells. The company will expand its thin film operations, however.
Dow Corning affected by oversupply and depressed prices
Dow Corning Corp.s Q3 2012 financial results have been significantly impacted by polysilicon oversupply, depressed prices and solar uncertainty.
Abound Solar: 3-pronged criminal investigation launched
Already financially reeling following bankruptcy, Colorado-based Abound Solar has now fallen afoul of the law. In a statement released on October 25, the Weld County District Attorneys Office in Colorado, acknowledged that its Investigations Unit is conducting a probe into “possible securities fraud, consumer fraud and financial misrepresentation.”
NRG- GenOn merger approved
The merger between NRG Energy Inc. and GenOn Energy Inc. has been sanctioned by the Public Utility Commission of Texas (PUCT). There are still a number of other approvals to be received, however, before the transaction can be completed.
Italys TerniEnergia unveils South African plans
In addition to setting up a South Africa subsidiary, Italy-based TerniEnergia will install a 9.5 MWp photovoltaic plant at Upington airport.
Germany: Schüco to pay 8.6 million back to Saxony-Anhalt
Schüco International KG has to pay back 8.6 million to the Saxony-Anhalt Ministry in Germany, following the closure of its thin film photovoltaic module manufacturing facility in Osterweddingen.
