Having claimed over 55MW of its GIGS thin film product offerings have been installed to data, MiaSolé has secured further funding to the tune of US$55 million from investors to support a focus on what it described as ‘commercial performance.’
The recovery in solar cell shipments continued into February for Taiwan-based crystalline solar cell producer, Neo Solar Power (NSP). The company reported sales of approximately US$34.4 million, compared to US$22 million (NT$850 million) in January and up from NT$663 million in December, 2011 when sales hit a two-year record low.
Impairment charges due to price declines and expected challenging market conditions in 2012 weighed on Q-Cells' preliminary fourth-quarter and full-year results. The company reported a fourth-quarter EBIT loss of approximately €355 million and a full-year 2011 loss of €846 million. Fourth-quarter revenue was €353 million, up significantly from €299 million in the third quarter. Revenue for the year reached €1,023 million.
The US arm of Martifer Solar has received funding totalling US$3 million from the New York State Energy Research and Development Authority (NYSERDA) as part of the Authority’s Solar Electric Incentive Program. The funds are designed to offset system installation costs in New York State as part of the renewable energy portfolio standards in New York City and Westchester regions. NYSERDA was said to have allocated a total of US$30 million in grant money to eligible solar contractors through a highly competitive grant process.
A groundbreaking ceremony has taken place for the future manufacturing hub of Panansonic’s HIT modules in Malaysia, Sunday, March 4, 2011. In an attempt to become cost-competitive with Asia-based rivals, the 300MW plant is the company’s first fully integrated facility, which will fabricate solar wafers, cells and modules.
PV inverter market leader, SMA Solar Technology, has provided 2012 guidance that has sent shockwaves through the investment community as revenue and margins are expected to take a significant nosedive. Management said in a statement that 2012 sales would be between €1.2 billion and €1.5 billion, while EBIT margin would be between 5-10%. SMA Solar reported preliminary 2011, full-year financial results in January of €1.7 billion in sales and EBIT of more than €240 million. The mid-point of the guidance, which the company had previously declined to provide due to uncertainty in the market, will represent over a 20% decline in revenues and a 60% fall in EBIT.
The US Commerce Department has yet again postponed a ruling on tariffs to be imposed on imported PV modules from China. An announcement was expected today, after a previous postponement due to the complexity of the case. The new proposed date for tariff details is expected on March 19, 2012.
Microsol International, a UAE based module manufacturer has agreed to acquire the majority of operations of insolvent Solon that could secure most of the 471 jobs at the firm. Insolvency administrator, Ruediger Wienberg announced the deal on the March 1, as insolvency proceedings started. Solon had filed for insolvency in the German courts on December 13, 2011. Financial details of the deal were not disclosed or whether Microsol would be responsible for Solon’s debts or whether the acquisition was primarily asset-based.
Significant booking reductions from customers in the PV manufacturing sector impacted revenue at Ferro Corporation in 2011. The materials provider reported net sales of US$443 million in the fourth quarter, down 18% from net sales of US$537 million in the fourth quarter of 2010.
Dow Chemical’s ‘ENLIGHT’ polyolefin films, recently launched for c-Si module applications have had claims of no power loss after 10,000 hours of operation validated in test carried-out by TÜV Rheinland.
