Oerlikon Group has announced its plans to restructure its finance base with its syndicate banks. The proposal, submitted by Oerlikon to the banks on November 25th, details its plans to defer repayments of the principal amounts of the term loan and revolving credit facility, lower interest charges and conversion of parts of the bank debt to an equity stake in OC Oerlikon.
Suntech’s sales pipeline has received a three-year hike as the company has announced the cementing of three long-term supply agreements for up to 490MW of PV modules. The large orders confirm the optimistic view for 2010 orders expressed by major industry players such as Canadian Solar, Sunergy and Trina Solar last month. The agreement will see the modules supplied over a three-year period, with 115MW planned for supply in 2010, 155MW in 2011 and 220MW in 2012. Each of the individual agreements has been signed with the option to increase volumes.
Evolution Solar will begin distribution of Hangzhou Amplesun Solar Technology’s (AmpleSun) line of thin-film products following the signing of an agreement between the two companies. Evolution is now the ‘preferred provider’ of AmpleSun’s product line in the Americas, Africa and the Caribbean. AmpleSun expects to reach a production capacity of 120MW of thin-film modules in 2010.
PV rooftop system specialist Payom Solar has signed a product order with Yingli that will see the module manufacturer supply 51MW worth of modules to Payom in 2010. Yingli will supply the modules throughout the year to the Germany-based company for an undisclosed price.
An agreement between Oerlikon Systems and Meyer Burger to collaborate on the distribution of the recently launched single wafer sputter Solaris system has been signed, which will see the companies market the system on a global scale. This move will see Meyer Burger provide sales and customer support for the system in Asia, Europe, the Middle East and the Americas while also paving the way for the two companies to perform collaborative research into anti-reflective coating developments.
Salt River Project (SRP) has announced that it is to establish Arizona state’s largest solar power plant in collaboration with Iberdrola Renewables. The 20MW PV power facility will be designed and built by Iberdrola, and, subject to SRP board approval, is scheduled for completion in 2011.
Solar Power, Inc. has appointed finance and investment veteran Francis Chen to the board of directors. Mr. Chen, vice chairman with WI Harper Group, brings a wealth of management and private investment experience to the board as the company heads into a period of development. The WI Harper group manages over $400 million in invested capital.
ReneSola Ltd.’s third-quarter financial results yielded quite an optimistic view of the company’s future. The vertically integrated Chinese wafer and cell manufacturer is looking to expand wafer production to 1GW (from 825MW); cell production to 360MW (from 120MW); and module production to 375MW (from 135MW).
Power conversion company SolarEdge Technologies has been granted certification of its inverter and converter products, gaining the ETL Mark for the North American market. Test and certification organisation company Intertek has completed all necessary safety and grid-connection testing according to the UL 1741 standard, and CSA C22.2 No. 107.1.
As developments to the company’s SunFab thin-film module manufacturing line continue, Applied Materials has managed to cut the cost of materials on the line by 22%. The company’s next-generation module technology was applied to establish some process efficiency updates, coupled with new lower pricing arrangements with materials suppliers.
