SolarCity value miscalculated by $400 million in Tesla merger
A Securities and Exchange Commission (SEC) filing by Tesla on Wednesday revealed that the investment bank that advised SolarCity on its sale to Tesla, Lazard Ltd, double-counted some of the companys projected indebtedness, resulting in a $400 million undervaluation.
SolarCity excluded from participating in Nevada grandfathering decision
The Nevada Public Utilities Commission (PUCN) has denied SolarCity’s request to participate in proceeding on whether existing residential solar customers in Nevada should have their net metering schemes “grandfathered,” after the utility added fees to the scheme at the end of 2015.
Solar Frontier open CIS production talks with Saudi Arabia
A Memorandum of Understanding has been signed between the Japanese solar energy giant, Saudi Aramco and the Saudi Arabian National Industrial Cluster Development Program for feasibility study into CIS production.
ABB opens new inverter fab in India, doubles domestic production capacity
New factory in the city of Bengaluru will produce ABB’s PVS800 central inverters to meet India’s surging demand for large-scale solar parks nationwide.
Duke Energy reaches agreement with solar developers in North Carolina
The North Carolina utility has resolved a dispute with 33 utility-scale solar developers over the method that the new grid connection criteria will be applied.
Investors advised by J.P. Morgan purchase stake in Sonnedix Group
The investors acquired all of the outstanding shares in Sonnedix, less than two years after J.P. Morgan partnered with the solar power producer to pursue opportunities in the global solar market.
NEXTracker supplies trackers for 105 MW PV plant in India
The U.S. tracker manufacturer has delivered its trackers to the 105 MW plant in the State of Punjab, which will become Indias largest solar plant that uses tracker technology, once it goes online later in the year.
Enphase begins AC battery shipments to Australia and New Zealand
U.S. firm projects demand volume of 70,000 units of its AC battery in first year as demand for residential storage Down Under expected to continue steep growth trajectory.
Singulus signs MoU with GCL to develop heterojunction cells in China
The German solar equipment manufacturer signs memorandum of understanding with GCL and China Intellectual Electric Power Technology; first processing systems already ordered.
Shunfeng's H1 net profit slumps 68% YOY due to curtailment and delayed tariffs
Despite increasing gross profit by 114% and revenue 30.9% year-on-year, China’s SFCE suffered from widespread grid curtailment of its solar power plants, as well as delayed tariff subsidies.
