Chinese PV company Sky Solar is planning to invest in a 300MW PV project in Chile, according to a report by Reuters. Sky Solar, in collaboration with Chilean Sigdo Koppers and the Chinese Development Bank, has announced the signing of an agreement on Tuesday, under which Sky Solar is looking to invest US$900 million to construct the 300MW solar power park over three years.
The latest quarterly report from IMS Research forecasts that as a result of continued price pressure and highly competitive market conditions throughout the PV industry, gross profits will continue to fall further to just US$0.07 per watt by the end of 2012.
Global Solar Energy Deutschland has begun insolvency proceedings at a German court, the company has announced. Global Solar Energy Inc., based in Tucson, Arizona, announced the news that the German executive team’s decision will not influence its Tucson production line. The company will cease operation of its 35MW German facility in Berlin, though.
Updated. Business conditions at LDK Solar have worsened considerably since reporting fourth quarter financial results at the end of April, 2012. The integrated PV manufacturer has slashed both polysilicon production and full-year revenue guidance, while meeting the low mark of guided sales in its first quarter 2012 results.
According to a report from Solarplaza, Adenium Solar Energy has bought a portion of a 29MW portfolio of grid-connected, operational solar plants in Italy. The transaction is valued at €125 million with the assets to be managed by Adenium and Foresight. The companies expect for their joint venture to increase the portfolio within the next 12 months to a total of 100MW.
Expansion of Brazil’s Tauá project is underway thanks to a continued partnership between MPX, E.ON and GE Energy. GE will supply all the equipment and PV technology systems for the plant’s expansion, including the delivery of more than 8,000 solar panels. Upon completion, Tauá will have nearly 13,000 solar panels helping to produce energy.
The US’s largest solar and wind project developer, NextEra, has placed the successful bid to purchase the unbuilt 1GW Blythe solar project in Riverside County, California. The plant is another of the projects – both built and unbuilt – being auctioned off from the assets of bankrupt Solar Trust of America. The agreed price of the project was not revealed.
Canadian Solar and solar installer Real Goods Solar have entered a supply agreement, it has been announced. Canadian Solar will provide approximately 40MW of PV modules to Real goods Solar under the agreement. The modules are intended for commercial as well as residential PV systems in the US. Canadian Solar recently acquired 122MW of US projects and the company has announced that it intents to expand onto the US market.
REC’s board of directors has proposed an offering of NOK1.300 million through a private placement, it has been announced. The board of directors will propose an issuance of 866,666,667 new shares to existing shareholders and new investors at a subscription price of NOK1.50 to the Extraordinary General Meeting (EGM), scheduled for July 18, 2012. The price was determined by book building processes carried out by DNB Markets, Nordea Markets and Arctic Securities. The funds from the private placement will be utilized for a partial repayment of the €100 million convertible bonds. Umoe AS and Canica AS are among the primary insiders that have been allocated new shares. Conditions have been set and will have to be met by July 31, 2012, in order to complete the private placement.
First Solar has reached an agreement regarding the DoE loan funded AV Solar Ranch One in Antelope Valley, the company has announced. The company has resumed the installation of its PV modules at the PV plant after being forced to cease construction in order to deal with module code certification issues. First Solar and the Los Angeles Country Department of Public Works have now reached an agreement about the PV module installation and First Solar is able to continue constructing the 230MW project. Construction of the PV plant began in August 2011 and the project is expected to be completed in 2013.
