Solar IPP Sonnedix has announced the acquisition of a 5.4MW ground mounted facility in France from Element Power Solar. Fully operational since February 2011, the plant is located in St Martin Lalande, near Carcassonne and expected to generate in excess of 6,000MWh per annum.
Sunlogics Power, a subsidiary of the Salamon Group, is now the senior creditor of the collapsed DayStar Technologies, a company developing thin-film CIGS deposition technology. Sunlogics is DayStar’s business development and strategic opportunities consultant and will continue to advise in this function.
Citing further pricing pressures in the fourth quarter of 2011, LDK Solar has revised down fourth quarter financial guidance and warned of further inventory write downs, expected to be from its polysilicon production operations. The company has already made several downward amendments to its expected quarterly results in 2011, resulting in excess of US$1 billion wiped-off expected revenue and over 1GW in expected wafer shipments alone.
Semiconductor manufacturer Soitec has completed its acquisition of Soitec Solar, formerly Concentrix Solar. The purchase process began in 2009 and Soitec has finalized the acquisition of the remaining shares.
As revealed in Hanwha SolarOne’s recent quarterly financial conference call, the PV module manufacturer is moving downstream to become a project developer and financier. As part of those business changes the company has formed a joint venture with project developer S.A.G. Solarstrom to initially build-out 20MWp of rooftop projects - mainly in Northern Italy - that are expected to be completed by the end of June 2012.
A class action lawsuit was filed against First Solar by Pomerantz Haudek Grossman & Gross in the US District Court for the District of Arizona. The complaint states that between April 30, 2008 and February 28, 2012, First Solar violated the Securities Exchange Act of 1934 by not disclosing the full extent of certain manufacturing flaws on its earnings, that it improperly recognized revenue for certain products in its systems business, that it lacked sufficient internal and financial controls and, finally, that as a result, First Solar’s statement were materially false and misleading at all relevant times.
SolarBridge Technologies and NESL-USA have partnered in order to provide an AC module system using SolarBridge’s microinverter. The module is backed by an end-to-end 25-year warranty. The NESL AC module system uses SolarBridge’s Pantheon microinverter in the pre-assembled panel, with the company offering its AC module system up to 250W per panel.
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.
