• By .(JavaScript must be enabled to view this email address) - 13 February 2012, 06:54
  • In News, Fab & Facilities, Finance

AEG Power increases sales in 2011 on polysilicon and PV power plant projects

  • Renewable Energy Solutions (RES) segment, which reported revenue of €224.0 million compared to €110.2 million in 2010, driven by demand within the solar value chain, from polysilicon plants (power controllers) to solar inverter solutions and monitoring & controls for utility-scale PV power plants.
    Renewable Energy Solutions (RES) segment, which reported revenue of €224.0 million compared to €110.2 million in 2010, driven by demand within the solar value chain, from polysilicon plants (power controllers) to solar inverter solutions and monitoring & controls for utility-scale PV power plants.

3W Power, the holding company of AEG Power Solutions increased revenue in 2011 by 39.9% to €428.2 million, compared to €306.0 million in 2010. EBITDA reached €53.1 million compared to a negative €23.9 million in the previous year. Growth was seen in its Renewable Energy Solutions (RES) segment, which reported revenue of €224.0 million compared to €110.2 million in 2010, driven by demand within the solar value chain, from polysilicon plants (power controllers) to solar inverter solutions and monitoring & controls for utility-scale PV power plants.

The company noted that order intake was up 8.8% year-on-year but had slowed in the fourth quarter due to PV power plant project delays, according to the company. The RES business benefited from a strong project pipeline in East Asia, Eastern Europe and first solar wins in India.

The company noted that it expected to sell its EMED solar farms in Italy in the first quarter of 2012.

Due to seasonality and weak demand, the company expects first quarter 2012 revenue to be below Q1 2011 levels.
 

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