Japan: PV demand growing faster than expected; new FIT rates proposed
The Japanese photovoltaic market has significantly changed since the introduction of FITs last July. With domestic demand growing faster than expected, Japan’s Government has proposed a FIT reduction of around 10%.
Suntech shuts Arizona PV module factory
Less than three years after the announcement of its opening, and on the back of insolvency rumors, Suntech is closing its Goodyear photovoltaic module manufacturing facility in Arizona, the U.S.
SolarWorld delays release of 2012 financial figures
SolarWorld AG has delayed the release of its Q4 and FY 2012 financial report while it continues to work on a restructuring plan. Görg law firm and Houlihan Lokey investment bank have been brought in to help.
$50m for US electric vehicle development projects
The U.S. Department of Energy is funding research into battery development and more efficient convertors and capacitors for use in advanced electric vehicles.
Update: Rumors rife that Suntech unit will file for bankruptcy
Speculation is mounting that the Wuxi Suntech Power Company unit of Suntech Power Holdings Company Limited will file for bankruptcy protection this month. The company has declined to comment. Update: Suntech has announced a preliminary solution with its bondholders.
First Solar joins Desertec as shareholder
The Desertec Industrial Initiative (Dii) has announced some welcome good news with U.S. thin film giant First Solar coming on board as a shareholder in the project.
APAC to account for 11 GW of PV demand
The Asia-Pacific (APAC) region is forecast to account for 11 of the expected 31 GW of photovoltaic demand in 2013, according to NPD Solarbuzz. China is expected to compensate for a demand decrease in Germany. Meanwhile, supply chain fragmentation is set to continue.
Inverter manufacturer announces global projects
German inverter manufacturer Kaco new energy GmbH has signed a memorandum of understanding with Saudi electronics company AEC to make and distribute its products from Riyadh.
Canadian Solar: Bad debts and arbitration hit the accounts
The key number in the fourth quarter and full year figures released by Canadian Solar is the company’s general and administrative expenses which, the company says, unfairly skew perceptions of its performance in 2012.
Malaysia introduces new PV FIT degression rates
The Malaysian Ministry of Energy, Green Technology and Water has announced new degression rates for photovoltaic technology under the Malaysian FIT mechanism. Further changes to the FIT system have also been announced.
