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Following speculation at the weekend that Sovello GmbH would file for insolvency, the company has now submitted an application to open self-administration insolvency proceedings at the Dessau district court in Germany, due to a lack of funds.

Exhibitor numbers were down and uncertainty over future subsidies reigned at the three-day Solar Expo in Verona, which winds up today. However, with the vast majority of major photovoltaic firms exhibiting there was still considerable optimism about the future of the Italy in the commercial and residential rooftop market segments.

Convert Italia and Solaria Corporation have completed work on a two megawatt (MW) low concentrating photovoltaic (LCPV) power plant in Puglia, Italy. It is thought to be the world’s largest.

After over two years of policy deliberations and growing pains, India is finally seeing solar installations in meaningful numbers: cumulative photovoltaic capacity stands at 964 megawatts (MW), 745 MW of which have been commissioned in 2012. But it is not all sunshine, with financing proving to be one of the country’s biggest challenges. Quality issues are also surfacing.

Germany’s Bundesrat wants to revise the country’s renewable energy law (EEG) for photovoltaics. A majority of Bundesrat representatives, therefore, voted for the invocation of a mediation committee with the Federal Parliament.

The recently-established Global Solar Council (GSC) has denied that it was set-up in response to the ongoing U.S.-Sino trade dispute, following media claims to the contrary. In related news, its executive director answers pv magazine’s questions.

Phoenix Solar AG has successfully concluded a financing package worth €132 million, following the company’s failure to fulfill the agreements of a previous loan agreement. It was agreed on the back of a restructuring plan, which has included a significant workforce reduction. In reporting its 2011 financials, the company saw massive losses.

ReneSola Ltd has seen first quarter (Q1) 2012 financial improvements across the board, although it is still suffering significant losses. The company has released its wafer, module and polysilicon cost targets for the year.

According to reports, 30 percent of Hamburg-based Conergy AG will be acquired by a Chinese photovoltaic company. Conergy would not confirm the news.

Germany’s S.A.G. Solarstrom is confident it will post a positive EBIT for the full year 2012. Reporting its first quarter (Q1) 2012 financial results, the solar company recorded lower sales and a negative EBIT, compared to the same period in 2011. It is looking to new markets to compensate for domestic decline.