While the damage is largely done for cells, modules and inverters, increased tariffs on U.S. module components and 15% measures on lithium-ion batteries are not good news for either sector.
The opening pages of the first-half update published on the Hong Kong exchange made all the right noises with the company set to be acquired by a Chinese state-owned entity. But the balance sheet makes for shocking reading.
The Norwegian polysilicon supplier – which has most of its manufacturing operations on U.S. soil – cannot give any estimate on when its solar material production lines will return, and has been left entirely dependent on the semiconductor products made by its Montana facility.
With a glut of solar capacity having come online this year, cheaper financing would help keep some of that momentum but policymakers cannot be persuaded of the economic benefits of clean energy unless state-owned utility EVN opens up.
Stock in the polysilicon manufacturer appeared to be recovering in early trading on the Oslo exchange this morning after it cancelled plans for a private placement of as many as 50 million shares.
“Another week, another trade crisis.”
With figures at the end of last year boosted by profitable PV project sales, the manufacturer and developer is now nursing unflattering comparisons and aims to get more projects built and sold by the end of next month.
With Narendra Modi’s government stunning pollsters with another huge win, the solar industry expects renewable power momentum to be maintained with steps including anti-dumping duty on solar module imports, a national policy for rooftop solar and an emphasis on easing private-sector participation in the power sector.