Suntech court order sees GSF asset freeze
Suntech Power Holdings Co. Ltd has won the first leg of its investigation into the possible fraudulent issuance of German government bonds, having obtained a court order to freeze GSF Capitals and Romeros global assets, and remove Romero from his managerial role in the Global Solar Fund, S.C.A., Sicar.
Hanwhas proposed takeover of Q.Cells welcomed
An official confirmation that Hanwha has already submitted its Q.Cells SE takeover offer is still to be made. Nevertheless, the announcement has been welcomed.
SolarWorlds financials take a battering
Germany-based SolarWorld AG has seen its 2012 financials suffer significantly, both sequentially and annually. CEO and chairman, Frank Asbeck, who will forego any salary or dividend until profitability returns, could be waiting a while, following predictions of a negative 2012 EBIT and lower revenues than in 2011.
Hanwha confirms Q.Cells interest
A spokesperson for Hanwha has officially confirmed the companys interest in the insolvent Q.Cells. An offer from the Korean company is expected this week.
$65 million secured for small-scale solar in SE Asia
The Armstrong South East Asia Clean Energy Fund, said to be the first of its kind in the region, has secured US$65 million in its first funding round. Overall, it aims to raise $150 million for small-scale power generation, including solar, in South East Asia. It is believed the region will become a “highly attractive” small-scale project market.
Canadian Solar secures $93 million CBD loan agreement
Chinese-Canadian photovoltaic module manufacturer, Canadian Solar Inc. has signed a loan agreement with the China Development Bank (CDB) worth CA$93 million.
Hanwha SolarOne unveils 1 GW North American PV pipeline
Koreas Hanwha SolarOne Co. Ltd is continuing with its downstream expansion strategy. Amid rumors the Hanwha Group is gearing up to take over Germany-based Q.Cells, the company has launched Hanwha SolarEnergy America (HSEA) in North America.
Third class action lawsuit launched against Suntech
A third class action lawsuit has been launched against Suntech on the back of the news that German government bonds received in 2010, totaling 560 million, may be fictitious.
MiaSolé seeks backers following layoffs and reorganization
U.S.-based copper indium gallium selenide (CIGS) thin film photovoltaic module manufacturer, MiaSolé has announced the scaling-back of its manufacturing operations. Media reports put the jobs losses at around 200.
China: Utility-dominant PV landscape changing
According to the latest research, the Chinese photovoltaics industry is shifting to a more decentralized model, following a “sharp” increase in non-residential building-mount applications, and a rise in non-utility commercial projects. Furthermore, it is believed the market is becoming more open to overseas companies.
