Solar3D acquires Elite Solar for $7.15 million
Marking its third acquisition in two years, Solar3D has signed an agreement to acquire California-based solar systems provider, Elite Solar, which is set to see revenues soar 140% YoY. The transaction is expected to close by latest, November 1.
SMA cost cuts take effect in solid H1 financial results
First half sales increase year-on-year by 26% to reach EUR 429.3 million as operating losses narrow over the second quarter, company transformation progressing as planned.
Centrotherm records positive H1, despite orders falling short
Centrotherm photovoltaics has recorded increases across the board in its latest earnings release. Despite this, new orders fell short of management expectations, affected by competition and cost pressures. The German company confirms its full year guidance.
33 successful bids in second German PV tender
Germanys Federal Network Agency has confirmed 33 bids totaling 159 MW have been successful in the countrys second PV tender. The unit price will only be determined once all bidders have paid their deposits. Unhappy, the countrys solar association has called for a doubling of the capacity awarded.
Meyer Burger sees big H1 order increase, widens net loss, announces job cuts
Meyer Burger Technology Ltd has seen a “substantial” increase in H1 2015 orders, particularly in its PV segment. Despite this, overall YoY net loss, including sales, widened. Further workforce reductions were also announced. For the full year, the company confirms its guidance.
New Jersey expands limit on net metered solar while Nevada keeps cap
Wednesday saw decisions on the solar policy in at least two U.S. states, with New Jersey’s governor signing a bill significantly expanding its official cap and Nevada regulators declining a request to do so without a legislative change.
SolarCity completes its fourth securitization
SolarCity has closed on the sale of $123 million in bonds backed by a portfolio of its solar assets. This is the company’s fourth successful securitization, and it remains the only company to complete one.
China needs 200 GW of solar by 2020, say industry groups
Country urged to double solar power goal in order to plug projected nuclear and hydropower shortfalls; currency devaluation could provide boon for solar exports but harm EU.
Brazil: Concrete auction details emerge
Brazil has announced that it will contract 2-3 GW of solar projects via auctions in the period of 2015 to 2018 as part of its national electricity generation and transmission plan. Meanwhile utility Cemig looks to developing domestic module production.
Vivint Solar Q2 profit hits $13.7 million
Second quarter financials for U.S. solar leasing company reveal installation increase of 78% year-over-year, driving a 146% increase in revenue.
