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The U.S. Export-Import bank has authorized two loans worth US$57.3 million to support the development of three photovoltaic power plants in India, which will use First Solar thin film modules.

Sunways AG has announced it will end two long term photovoltaic wafer contracts with Deutsche Solar GmbH early, following agreement by both parties. The decision has been attributed to the current market conditions.

REC looks to be in a good position following its new credit and issuance of new shares. Despite this, impairment charges related to the company’s fixed assets at its manufacturing facility in Singapore have significantly impacted its second quarter (Q2) financial results.

The insolvent Sovello AG has said that 475 of its employees will be let go. Meanwhile, negotiations are underway with “seriously” interested Asian investors. However, it is not clear if they will be concluded before August 1.

According to media reports, U.S.-based concentrated photovoltaic (CPV) company, Amonix has closed its manufacturing plant down in North Las Vegas. The company was said to have been subsidized by more than US$20 million in federal tax credits and grants.

Infigen has begun work on a one MW photovoltaic and energy storage plant in Australia’s New South Wales. A first for both the company and the country, the demonstration project aims to pave the way for future utility-scale projects.

Due to improved demand, photovoltaic module price declines are expected to ease slightly in the second half (2H) of 2012. Meanwhile, global installations are forecast to reach 30.2 GW this year. Overcapacity is still a dominant theme, however.

Bloomberg New Energy Finance (BNEF) has published figures showing that a record number of photovoltaic projects were purchased last year, worth approximately US$10.8 billion. BNEF found that “approved and operating” projects were seen as high yield investments.

Following a meeting of Q.Cells’ creditors, the insolvent photovoltaic company has been given the go ahead to continue on with its operations. The insolvency administrator’s position has further been confirmed. Restructuring options are now being considered.

On July 12, Italy reached its €6 billion photovoltaic feed-in tariff funding limit. On Friday 13, the energy agency’s official counter showed just under €6 billion worth of funding for plants. By Monday 16, it was sitting at €6.06 billion. If the funds continue to be consumed at this rate, the money allocated for the Conto Energia V will be used up before the end of August.