REC Wafer Norway files for bankruptcy
Following the complete closure of its wafer operations in April, REC Wafer Norway AS now has to file for bankruptcy after parent company, REC ASA said it will not provide the necessary funding for a solvent wind-up of operations.
PV to lead rapid increase in decentralized power generation over next 5 years
Quickly becoming the new industry buzzword, distributed power generation, led by photovoltaics, is set to “rapidly” expand over the next five years to reach an annual installation rate of 63.5 GW by 2017.
Conergys financial improvements continue
Following a relatively successful first quarter (Q1) of 2012, Conergy AG is continuing on its positive earnings trajectory, despite the still-difficult solar market conditions. In addition to marked financial improvements across the board, the German company has recorded a positive EBITDA for the first time since 2010.
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.
REC receives 1.3 million for solar cell research
The Renewable Energy Corporation (REC) has received 1.3 million from Singapores Clean Energy Research program (CERP). Overall, the program awarded 6.9 million to five solar energy research teams.
