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A debt-to-equity swap deal between Q-Cells and its bondholders has been agreed in principle, a situation that will result in the company’s being majority owned (95%) by the bondholders. In return, Q-Cells would be virtually debt-free and retain the €304 million of liquidity the company had at the end of 2011 to continue to restructure and continue operations. Q-Cells will also sell further non-core assets that could raise €200 million, which would be given back to the 2012, 2014 and 2015 bondholders on an equal basis.
Sunlogics Power, a subsidiary of Salamon Group, was named the senior secured creditor of Arise Technologies. The company additionally noted that it is consulting on Arise’s day-to-day operations of its systems business.
Europe’s end-of-life PV module recycling program, PV Cycle, advised of its significant growth since beginning operations in 2010. PV Cycle’s collection network has expanded to over 205 collection points, which allows the association to provide module owners in every EU27 and EFTA country with its services. Additionally, the company noted that in January, it had reached over 240 members from across the world and PV value chain, representing nearly 90% of the European solar market.
CNPV Solar Power has advised that its mono- and polycrystalline modules have been confirmed by TÜV Rheinland as meeting ISOCD14067 specifications, which incorporates ISO14040:2006, ISO14044:2006 and PAS2050:2011 standards. The module evaluation gives a numerical value to the amount of CO2 generated from manufacturing through the module’s life cycle over a period of 100 years by studying its raw materials, conversion process, manufacturing burdens, in-use variations and final degradation.
Kyocera and Nichicon have completed an agreement for Kyocera to begin domestic sales this summer of a new energy management system (EMS) which combines Kyocera’s highly reliable solar power generating systems with Nichicon’s long-lasting, high-capacity lithium-ion battery storage units. Designed for the Japan market, the new system responds to the growing demand for residential energy storage equipment following the March 11 disasters. Kyocera will begin sales in Japan this summer.
Kyocera has reported that consolidated net sales for the nine-month period ending December 31, 2011 had declined 7.5% compared to the prior period, to US$11,351 million. Profit from operations decreased by 26.2% to US$1,133 million. Sales and profits were reported to be down within its Components Business segment which includes its PV module operations, citing continued stagnation in the solar energy market with consistent erosion of prices as overcapacity continued. Kyocera noted that it has seen no sign of an improvement in a supply/demand balance.
The US Department of Commerce has agreed to postpone the date for its preliminary decision on the CASM-led US versus China trade dispute to March 2, 2012. The original date of February 13 was deemed to soon by SolarWorld, the leader of the CASM movement, and the 18-day extension will delay the decision by the Department of Commerce.
Hyderabad, India-based Surana Ventures has completed construction of its 5MW solar module manufacturing facility in the Fab City, approximately 40km from Hyderabad. The company has also announced that it is seeking the necessary permission to commission a second 5MW module manufacturing plant in Gujarat.
Yingli Green is to supply project developer, IBC Solar, with 180MW of multicrystalline and monocrystalline (Panda) PV modules in 2012 under a new supply agreement. IBC has an option for a further 20MW under the new agreement. IBC is expected to use the modules in projects within Germany, Europe and other regions during the year.
Solartec Energia Renovable AC modules, coupled with SolarBridge Technologies’ microinverters are to be introduced to the Mexican market, it has been announced.
