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SunEdison has signed a loan agreement for over US$65 million with the North American Development Bank (NADB), the company has announced. The loan will finance the construction of a 20MW PV plant in Picture Rocks, Arizona.
PV Crystalox Solar advised that it had reached a cash settlement over a terminated wafer supply deal that amounts to €90 million. The funds will be recognized as income in the first half of this year and, according to proactiveinvestors, the news saw the company’s value more than double.
OPEL Technologies advised that its common shares have begun trading in the US on the OTCQX International under the “OPELF” symbol. Pierce Atwood will be the company’s principal American liaison and supply guidance on OTCQX requirements and US securities law. OPEL’s common shares will still trade in Canada on the TSX Venture Exchange under the “OPL” symbol.
Following Saudi Arabia’s revelation of a US$109 billion plan to create a solar industry in the country that will produce a third of its electricity within the next twenty years, Five Star Equities has released reports on the potential outlook for companies in the solar industry, including First Solar and SunPower.
Day4 Energy has published its operating results for Q1 2012. Revenues decreased to US$6.5 million compared to UD$16 million in Q1 2011 (59%) and by US$1.8 million (22%) from Q4 2011.
Gross loss for Q1 2012 constituted US$0.7 million compared to US$2.7 million in Q1 2011 and UD$1.4 million in Q4 2011. Decreasing sales prices, as well as downwards adjustments in the market contributed to this decrease.
Conergy has published figures for Q1 2012, highlighting the first results of the restructuring process implemented in 2011.
The sales development reflects the decrease in prices in the first quarter by 40% compared to 2011. Sales in Q1 2012 were €98 million compared to €163 million in the same period in 2011. Although the German, Asian and American markets increased, shipment volumes in Europe generally decreased, resulting in a decline in shipments from 80MW to 70MW. Conergy managed to increase shipments in the American and Asian markets by 2% sales achieved were €34 million (€42 million, Q1 2011). The company was able to balance the decline in demand in Germany by taking advantage of the temporary boom in the market and receive sales of €29 million compared to €34 million in Q1 2011.
According to a report released by Bloomberg New Energy Finance, the price of polysilicon continued its downward march, dropping by 2.6% last week. The material’s average spot prices were US$23.17/kg last week, compared to US$23.78 the week before. The report further advised that the price is down around 15% this year.
Bloomberg has reported that Moser Baer India has plans to restructure US$738 million of loans and bonds. Company CFO, Yogesh Mathur, told Bloomberg that Moser Baer expects to reach an agreement with banks to restructure US$649 million of secured debt by August and is considering selling new five-year bonds to pay off dollar-convertible notes maturing in June.
In February, EuPD Research awarded Germany-based Sovello the TOP BRAND PV seal; this week, the module manufacturer announced it has filed for insolvency in self-administration at the district court in Dessau. This very same court handled proceedings for Q-Cells last month and CIGS thin-film firm Odersun. The dramatic reduction in government subsidies and competition from Chinese manufacturers are being blamed for the moves by German companies that are unable to pay their mounting debts.
aleo Solar has announced a revenue of €74.6 million in Q1 of 2012. This is a 14.6% decrease compared to Q1 2011, where revenue was €87.4 million. Earnings before interest tax (EBIT) was €-8.2 million, with an EBIT margin of 11% compared to 2011 EBIT of €2 million and a margin of 2.3%.
