Against a backdrop of many peers reporting lower fourth quarter shipments when compared to the previous quarter, ReneSola held its ground, exceeding shipment guidance for solar wafers and modules. The company reported 2011 revenue higher than guided at US$985.3 million but 18.3% below 2010 net revenue of US$1,205.6 million. Total solar wafer and module shipments in 2011 reached a record 1,294.8 MW, exceeding prior guidance and an increase of 9.5% from 1,182.8 MW for the full year 2010. However, management guided a significant increase in solar wafer and module shipments in 2012 to be in the range of 1.8GW to 2.0GW. Emphasis was placed on module shipments increasing as well as doubling capacity to 1GW.
Volker Böhm, insolvency administrator of the bankrupt Solar Millennium in Erlangen, has sold PV Power Holding shares to Bavaria-based Schoeller Renewables. Solar Millennium held 50% in PV Power Holding, a developer of PV projects in Italy.
The US Department of Commerce has once again postponed the deadline for issuing a preliminary ruling on SolarWorld’s anti-dumping arraignments against Chinese solar manufacturers. May 16 has been earmarked for the hearing, with March 19 set for a preliminary ruling.
Tough market conditions for Hanwha SolarOne led to fourth quarter losses and sliding shipments and average selling prices, which were below in-house manufacturing costs. Although the company posted 2011 revenue above the US$1.0 billion level, the company reported a net loss of US$169.8 million. PV module shipments were 189.1MW, in the fourth quarter, a decrease of 5.9% from 200.9MW in prior quarter. Module shipments for 2011 reached 844.4MW, representing an increase of 5.8% from 797.9MW in 2010. Hanwha SolarOne guided 2012 shipments to be in the range of 1GW.
Solar Power Technologies (SPT) has announced that its Clarity solar monitoring system is ETL-certified and will be listed in the Intertek database of certified products, for use in the USA and Canada.
Updated: James Hughes, a previous long-term executive within the corporate structures of the infamous Enron, has been chosen by First Solar's chairman and interim CEO Mike Ahearn to lead its major business strategy change to focus on the unsubsidized emerging PV markets, such as Chile. Hughes has been appointed as chief commercial officer – a newly created role.
Solar IV, the first solar plant in Vineland, New Jersey, has been completed and begun commercial operation. Vineland Solar IV, developed on 38 acres in Delsea Drive by OCI Solar Power, contains more than 13,000 PV modules and the project generates a total of 3MW. The energy is sold to the Vineland Municipal Electric Utility and will power local homes and businesses.
Canadian Solar and Lightsource Renewable Energy have announced the completion of joint projects in the UK. Ground-mounted PV plants were built in Cornwall (Bodmin), Lincolnshire (Spalding) and Somerset (Taunton), with a combined capacity of 6.4MW.
Although the top-ranked companies might not come as a surprise to many, Lux Research’s top 10 module manufacturer rankings provides some interesting figures. The research firm’s Solar Supply Tracker has logged the top 10 module manufacturers by percentage of global module production, and sees First Solar in first place at 7% (2.001GW), Suntech in second at 6.5% (1.866GW) and Yingli Green in third at 5.5% (1.554GW).
AEG Power Solutions, part of parent company 3W Power, has updated its guidance for its financial performance for 2012. The company, which is currently the subject of a friendly takeover bid by Andrem Power, which is itself wholly owned by Nordic Capital Fund VII, expects its revenue to grow to between €430 and €460 million from €428 million in 2011. However, profitability margins are expected to fall as a result of economic factors.
