Renewable Energy Corporation (REC), a European supplier of PV modules, has completed the construction of a 4MW solar project in Greece for EuroEnergy, a renewable energy investment firm and a subsidiary of Libra Group.
SunEdison, a provider of solar energy services, has announced that it has secured an additional US$40 million for its project finance revolving credit facility, bringing the total capacity of the facility to US$150 million.
Bisol advised that it has made a €1.5 million investment for the three-phase automation of its production facility. The process, which it speculates will increase its production capacity by nearly 10%, is expected to be completed by the end of this year. Modernization of its production facility began this past summer. Bisol noted that its project was not financed by any European or governmental subsidies.
SunEdison announced that, along with Firelight Infrastructure Partners, it has attained financial close for a 10MW solar project being built in Ontario. Completed through a construction and term debt credit facility, the project is owned by SunEdison and Firelight as equity partners. Deutsche Bank worked as the private placement agent for the transaction, which was supported by a consortium of lenders.
Valos Solar Ventures continue to tie up the loose ends for its 20MW SKIC Solar 1 project; most recently with the signing of a 20-year PPA with Pacific Gas & Electric. The solar project, located near Bakersfield, California, is expected to receive approval from the California Public Utility Commission in October, with construction starting no later than August 2013.
Italian solar firm Aion Renewables has signed a preliminary agreement to sell 30MW of PV projects to Luxembourg-based Avelos. Aion Renewables is a specialist in the design, engineering, manufacturing and installation of PV systems.
With plans to achieve a 100MW pipeline in 2012, Martifer Solar USA has reported a success at its 460kW system in Breckenridge, Colorado. The company claims the arrays have been consistently performing at an average of 10% above expectations since their commissioning in January.
Q-Cells North America has recently completed a total of 108MW PV projects in North America. It built a 69MW PV project in Ontario, Canada and several PV projects in California, US, which have a total capacity of 39MW.
Increased losses posted only a few weeks ago has forced Trina Solar to streamline its business operations to reduce operating costs that include job losses, according to a statement posted on its website. The restructuring comes after reporting a catalogue of woes in its second quarter financial results as well as a management reshuffle and the exit of its CCO. Management said that the key action was to separate its PV module operations from its PV systems business operations.
Stefan Quandt, BMW board member and one of the richest people in the world, according to the Forbes list of billionaires, will become the majority owner of German-based PV module manufacturer, Solarwatt which is currently insolvency proceedings since mid-June.
