Your daily dose of Photovoltaic Technology Developments and Solar News
Emcore to IPO CPV business on back of strong orders
Popular articles
French government proposes new incentives to greatly increase solar power, other renewables - 17 November 2008
Suntech halts capacity expansion: slashes capital spending for 2009 - 21 November 2008
BP Solar to close PV module plant in Australia - 17 November 2008
Suntech’s ‘SunFab’ line near completion - 21 November 2008
JA Solar and BP enter agreement to market solar PV product portfolio - 25 November 2008
Emcore
said in its most recent quarterly financial conference call that its
backlog in orders for its concentrated PV technology stood at $142
million. This did not include the provisional deal recently announced
to supply 700MW of solar power systems for a proposed South West US
energy utility project or a $300 million order placed by a Korea-based
energy company.
“Calendar year 2008 revenue is expected to exceed $340 million, [includes fibre optics business] and the progress in each of our business segments continues to point towards the path of separating EMCORE into two separate companies," stated Reuben F. Richards Jr., Chief Executive Officer, in a financial press release.
In the conference call, executives noted that expanding CPV manufacturing capacity to meet current and future demand would require new capital financing, which would be best served with an IPO of the CPV business.
