LDK Solar has claimed through its Cayman Island liquidators that unaudited accounts indicate the company had revenue of US$273.1 million in the fourth quarter of 2013, up from US$156.6 million in the previous quarter.
Liquidators for LDK Solar, Zolfo Cooper have requested the New York Stock Exchange (NYSE) to change its decision to de-list its American depositary shares (ADS).
Major Taiwan-based solar wafer producer, Green Energy Technology (GET) has reported a sales decline of 10% in March.
China-based polysilicon and wafer producer, Daqo New Energy Corp reported narrowing quarterly losses on improved shipments of polysilicon and wafers in the fourth quarter of 2013.
Samil Power has become the first Chinese inverter manufacturer to register for the Waste Electrical and Electronic Equipment (WEEE) directive in the EU.
Guangyu International, based in Hong Kong, has invested US$200 million in Norwegian solar-grade silicon wafer producer, Elkem Solar, for a 50% stake in the company. The company said that the deal had been in the making for some time.
The start of recent bankruptcy proceedings of LDK Solar’s offshore operations has triggered both an agreement with a majority of its bondholders to take a massive haircut on the defaulted bond and the start of de-listing proceedings for its American Depositary Shares and an immediate trading suspension by the NYSE.
China-based wafer manufacturer and operator of Wuxi Suntech, Shunfeng Photovoltaic International, has reported full-year 2013 revenue of approximately US$246.2 million, compared to US$170.5 million in the previous year.
The founder, shareholder and current chairman and CEO of LDK Solar, Xiaofeng Peng is being forced into personal bankruptcy proceedings by Apollo Investment Asia Limited to the tune of US$75.5 million, according to SEC filings made on behalf of the company’s liquidators in the Cayman Islands.
Wet chemicals equipment processing specialist, RENA, has started insolvency proceedings under self-administration as it attempts to restructure after failing to gain a financing solution for debts encountered at a subsidiary, SH+E.
The holding company of polysilicon producer, GCL-Poly, is planning to change the name of the group to GCL New Energy Holdings Limited to better reflect its move into the downstream PV project business and renewable energy in general.
Although the shutdown of its Sichuan Phase I polysilicon production line impacted profitability in 2013, tier one PV manufacturer, ReneSola reported a 142.5% year-on-year increase in PV module shipments, reaching 1,728.8MW with plans to reach 2.5GW in 2014.
As part of the expected IPO of SunEdison’s semiconductor wafer and polysilicon operations into SunEdison Semiconductor Limited (SSL), Samsung Fine Chemicals is planning to purchase US$100 million in shares in the spin-off company in private placement.
Although GCL-Poly has topped the nameplate capacity rankings for polysilicon for several years it has actually produced less polysilicon than nearest rival, Wacker Chemie. However, the China-based producer appears to have sneaked by its German rival for the first time during 2013.
The fifth edition of the International Technology Roadmap for Photovoltaic (ITRPV) released today, continues to emphasise the critical need to reduce material costs from wafers to modules, but also highlights the need for increased cell efficiencies and higher throughput fabrication equipment as material cost reductions get harder to implement.
