Third quarter results from Hanwha SolarOne echoed pricing pressure and weak demand, especially from Germany that led to margin pressure, inventory write downs and losses. Hanwha SolarOne reported US$225.4 million in revenue, a decrease of 20.1% from 2Q11 when revenue reached US$277.1 million. The company recorded a non-cash inventory write-down of US$30.6 million and a net loss of US$46.4 million.
AMG Advanced Metallurgical Group’s acquisition of the Mono 2 casting technology last year has paid off. The monocrystalline growth method has been granted a US patent. The patent was granted to AMG IdealCast Solar Corporation, a wholly owned subsidiary of AMG's Engineering Systems Division. There are four additional core patents still pending.
Tata Steel and Dyesol are continuing with their progress on the production of what they hope will be the world’s largest dye solar cells modules (DSC). The team has been constructing a DSC 20m2 roof array that will be tested at the Sustainable Building Envelope Centre
(SBEC) test facility in Shotton, Wales.
Element Power revealed that it has launched its new solar subsidiary, Element Power Solar (EPS) in response to what it deems as the global opportunities PV solar power affords. Element Power noted that it has 21 solar power plants in operation and a project portfolio that totals over 2,000MW. In addition to revealing its new subsidiary, Element Power advised that it had appointed Paolo Pietrogrande as chairman of EPS.
Mage Solar has supplied Deichmann Logistics Centre in Soltau, Germany, a 605kWp PV system. Over 2,600 polycrystalline Mage powertec plus modules will cover 11,600 square metres of a flat roof area.
An end-of-year surge in the number of utility-scale PV installation in China and India will result in installed capacity for 2011 in the Asia-Pacific region reaching 4.8GW, according to the new Asia Pacific Major PV Markets Quarterly report from NPD Solarbuzz.
€100 million have been invested into Solar21, the Irish renewable energy fund, for PV solar farms across Europe, focussing on economies with the most attractive long-term guaranteed FiT rates.
Over the coming months the solar industry is set to experience its own version of natural selection, as surplus capacity and falling prices triggers a significant reduction of the number of companies in the marketplace, according to a new report from Bank Sarasin.
Hoku Materials has moved a step closer to completing its polysilicon production plant in Pocatello, Idaho by connecting it to Idaho Power's substation.
