Project developer and PV products supplier, BULL PowerTech a business segment of BULL Holding AG has signed a module supply deal with JinkoSolar. Under the terms of the agreement, which is the first between the two companies, 50MW of co-branded modules will be delivered in 2011.
Much weaker than expected demand in Europe impacted PV inverter manufacturer, Satcon Technology’s first quarter financial results. Although Satcon posted record revenue of US$62 million for a first quarter accounting period, the revenue figure was below initial projections of US$65 million to US$70 million. Some shipments were postponed to later in the year by some of its customers due to an inventory build, executives noted in a conference call to discuss financial results. Net loss for the first quarter was US$2.1 million.
A major Asian solar cell manufacturer has placed an order for multiple hydrogen annealing furnaces from BTU International after the customer experienced a significant increase in absolute cell efficiency using the technology especially on Class B cells during an evaluation period.
India's largest private power utility firm, Tata Power, has commissioned a 3MW solar power plant in Mulshi. The project, which is one of the largest in the entire country and the first built in the province of Maharashtra, is spread over 12 acres and took nine months to complete.
Citing a slowdown in module sales and prising pressure in the first quarter of 2011, Evergreen Solar has declared that its near term liquidity has been negatively impacted, which could lead the company to find new sources of cash sooner than expected. The struggling String Ribbon module producer said shipments were only 18MW in the first quarter, down significantly from 47MW in the fourth quarter of 2010.
An existing customer based in Asia has placed a follow-on order worth CHF 70 million with Meyer Burger for wafer slicing equipment and wafer inspection tools. Delivery of the complete order is expected during 2011, according to the company.
Worldwide Energy & Manufacturing USA, which supplies PV solar modules under the Amerisolar brand, has had a momentous week of executive changes. The company announced that on April 25, its board of directors removed Jimmy Wang as the company’s CEO, chairman as well as from all other offices and positions that he held at Worldwide and with any of the company’s subsidiaries and affiliates. The board also discharged Mindy Wang, wife of Jimmy Wang, on April 25, from all offices and positions she held at the company, its subsidiaries and affiliates, which included secretary and treasurer of Worldwide. Although both Jimmy and Mindy Wang will no longer serve in their former executive positions, they will remain on the board of directors.
Lincoln Renewable Energy (LRE) has finalized the sale and project finance deal with Macquarie Energy worth US$41 million. The agreement sees Macquarie Energy enter a long-term purchase agreement for power and renewable energy credits from LRE’s New Jersey-based 10MW Oak Solar PV project. LRE will remain the long-term owner of the facility, while Macquarie Energy provides construction finance and term debt for Oak Solar.
In a new report published by the SEMI PV Group, in collaboration with the SEMI China PV Advisory Committee and the China PV Industry Alliance (CPIA), a policy roadmap has been presented outlining how China can reach a global average PV electricity penetration level of 1.3% PV electricity by 2020. The report, entitled, “China’s Solar Future –A Recommended China PV Policy Roadmap 2.0”, uses the IEA Solar PV Roadmap as a benchmark for China, so that the country, which is well known as an export of PV goods, can better partake in using PV power as part of its energy consumption.
A new report from IMS Research highlights that for the first time, all of the top 10PV inverter suppliers were European based, which was due to PV installations more than doubling in 2010, with the biggest growth in key European markets such as Germany and Italy. However, the top five gainers in market share in 2010 came from a mix of geographical locations, headed by Power-One, Siemens, Advanced Energy, Sungrow and Danfoss. The global PV inverter market grew 140% in 2010, according to the market research firm.
