SPI Solar has purchased Italy-based EPC company Solar Green Technologies (SGT) from LDK Solar Europe Holdings and the founders of Solar Green Technologies, the company has announced. SPI invested US$5 million, consisting of approximately 13,400,533 SPI shares with a value of US$0.45 and circa US$250,000 in cash, paid to the two founders of Solar Green Technologies. The transaction adds 20MW in EPC contracts to SPI Solar’s portfolio.
Electrical connector company Multi-Contact has revealed that its TÜV- and UL-certified MC4 and MC4PLUS photovoltaic connectors have been granted certification for protection class IP68. The IP certification series vouches for the products’ ability to withstand contact and infiltration of water and dirt. This new accolade means that an entire PV installation can be cabled consistently with a single system.
SMA Solar Technology has received Japan Electrical Safety and Environment Technology Laboratories (JET) certification, the company has announced. The company has opened sales and service subsidiaries in Japan at the beginning of 2012 and has obtained the JET certification for its Sunny Boy 3500TL-JP-22 and Sunny Boy 4500TL-JP-22 inverters. SMA will commence selling the two inverters on the Japanese market from October this year. The PV inverters have been modified for the Japanese market and for the requirements of Japanese PV plants.
Banyan Energy has announced the appointment of Rusty Schmit as its new CEO. Schmit has over 30 years of experience in the solar industry and has been a member of Banyan’s board of directors where he served as the company’s vice president of business development in his most recent role. Before joining Banyan Energy, Schmit was involved in the foundation of PV companies like Advent Solar and Matrix Solar Technologies, where he served as CEO.
SAG Solarstrom advised that Deutsche Bank Group had given the company a financing commitment of €65 million. The loan has conditions in line with the market and a term up to the fall of 2013. The company plans to use the financing for various projects planned in 2012 and 2013, which will mainly be implemented in Germany. SAG Solarstrom acknowledged that the financing commitment and the payment of the loan will depend on the fulfillment of customary banking conditions and the signing of financing documents.
DuPont Apollo has delivered its PV modules for a 5MW solar plant in Gujarat owned by Yantra eSolar India. The solar plant, located on 35 acres of land in Village Charankha, Santalpur Taluk, Patan District, is slated to be connected to the grid before the end of August. Upon completion and commissioning, the solar plant is estimates to be able to generate 8 million kWh of electricity per year.
New Jersey has passed a law that requires companies to purchase more solar energy, it has been announced. According to the bill, companies have to obtain 2.05% of their total energy from solar in the energy year (EY) 2014 under the new renewable portfolio standard. After that, the amount of solar energy required will be raised every year to 4.10% by 2028.
Renewable Energy Corporation’s (REC) board of directors has proposed an additional sum of NOK75 million (approx. US$12 million) to the Extraordinary General Meeting (EGM). The company states that all investors that participated in the private placement have agreed to the final gross proceeds of NOK375 million (approx. US$62 million).
According to a report from the Taipei Times, Motech Industries has terminated long-term supply contracts for silicon wafers with an undisclosed foreign company. The stock exchange filing noted that the termination came because of a change in market conditions. Motech advised that it would renegotiate terms, including product quantities and prices with the undisclosed company, but no timeline was given for when the manufacturer would start to supply wafers to Motech again.
Cupertino Electric advised that its San Jose, California, headquarters will soon sport a solar technology evaluation laboratory featuring 18 technologies installed in a construction site-type of environment. The lab will generate data on performance, price, installation technique, longevity and quality.
