REC issues shares, restructures debt and writes down inventory
Norway-based manufacturer REC carried out major financial restructuring today, issuing almost 870,000 million new shares, in an attempt to raise NOK1.3 billion (US$218 million). REC also refinanced its revolving debt facilities, into a NOK2 billion (US$335 million) facility.
Bisol Group plans further expansion on back of high production growth
Slovenia-based Bisol Group has recorded a 130 percent increase in production of its photovoltaic modules over the last year. A spokesperson tells pv magazine it is planning further expansion, and will add new automation machinery in the coming months.
Stion hits 13.4 percent CIGS module efficiency
U.S.-based thin film manufacturer, Stion has achieved a CIGS photovoltaic module efficiency of 13.4 percent, and an aperture efficiency of 14.8 percent. The results have been verified by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL).
TSMC: Making a market entry
Taiwanese semiconductor giant TSMC took the decision three years ago to enter the solar market. The company licensed CIGS technology, built a fab and started shipping modules last quarter. Despite extremely competitive module prices, the company is confident that it has the backing, technology and process experience to prosper when the solar market turns the corner.
Sovello: Big job cuts expected
According to reports, almost half of Sovellos workforce could be let go. Company management declined to comment, however.
Restructuring plan for Solarwatt expected by end of July
Solarwatt has said that by the end of July, it will submit a restructuring plan, with the expectation that the process will be completed by the end of September. Furthermore, its module warranty has been secured.
Solar stocks react well to government incentives in Japan
The power of governmental legislation in driving solar stocks was again brought to the fore this week, as prices rose sharply on the back of favorable information coming from Asia.
Study: PV would reduce electricity prices for Texan consumers
According to a new study, adding photovoltaics to the Texan electricity grid would “significantly” reduce energy prices.
New York state unveils new PV initiative
U.S. Governor, Andrew Cuomo has announced the introduction of a new photovoltaic initiative in New York, which aims to significantly increase the amount of customer-sited solar power in the state over the next two years.
JinkoSolar misses Q1 module shipment guidance
Amid the still challenging solar market conditions, Chinese photovoltaic module manufacturer, JinkoSolar saw some first quarter (Q1) 2012 financial improvement. However, it is still suffering massive losses, compared to Q1 2011. Meanwhile, the company missed its module shipment guidance.
