Markets

Swiss PV technology provider Meyer Burger has announced a recapitalization program that will see the company issue CHF160 million in new shares to ensure the repayment of a CHF130 million bond due in 2017, adjust the conditions of a second CHF100 million bond, proposing a 2018 put option be removed, and increase a borrowing provision on its headquarters from CHF30 million to CHF60 million.

The residential solar installer is still struggling following SunEdison’s failed acquisition, but reported record low prices and improved results.

Leslie Tan, general manager of the Latin American market for Huawei, discusses the Chinese inverter supplier’s strategy for the region.

The two Southeast Asian countries are each hoping to add 5 GW of PV by 2020, in an attempt to meet green energy targets and to stimulate fledging solar markets, with a number of developers already looking with interest in the region.

German inverter specialist and South Korean electrical giant have collaborated on new residential storage solution comprising Sunny Boy inverter and LG’s new RESU 10H and 7H batteries.

Greenko Energy Holdings has completed the acquisition of 587 MW of SunEdison’s solar and wind projects in India, in a deal worth approximately USD 392 million, which sees the company make its first major venture into the solar PV industry.

Bridge to India survey finds wide disapproval of India’s net metering conditions among industry professionals, with long connection delays reported across the country.

The Flex subsidiary has signed a Master Services Agreement with Biosar, who is acting as EPC, for the delivery of its advanced solar tracking technology for a 191 MW PV project in Minas Gerais, which is due to be completed by the end of next year.

The Indian power developer has secured $309 million in project finance for its 450 MW utility-scale projects, as well as $161 million as part of its pre-IPO. Firm has now committed more than $1bn to Indian solar.

China’s National Energy Administration (NEA) announced that the previous target of 150 GW of installed PV by 2020 will be cut by 20% to 110 GW, as it cools its solar industry that had been enjoying an unprecedented boom within the country.