Avidan Management has finished work on its 4.26MW rooftop solar system in Edison, New Jersey. The array, designed and installed by Solar Nation, generates 5 million kWh of electricity a year, which will be used to help power the 656,255-square-foot office and storage facility on which the system is housed.
After two months of uncertainty, the Italian Government finally looks set to unveil its much-anticipated new solar feed-in tariff bill. A draft decree of the Conto Energia IV bill is currently in circulation and includes legislation to reduce subsidies and introduce a 23GW cumulative cap until 2020, according to analysts at Germany’s Commerzbank.
Monocrystalline wafer manufacturer Comtec Solar Systems has recorded net profit of ¥83.5 million (US$12.8 million) for the first quarter of 2011. This was a huge 311.1% rise on the Q1 2010 number and highlighted an impressive set of unaudited Q1 figures.
Boeing and South Carolina Electric & Gas (SCE&G) will be working together to make Boeing’s South Carolina facility a 100% renewable energy site. The North Charleston site will produce renewable energy with the help of a 2.6MW rooftop solar installation. Both companies maintain that the solar system at the Boeings 787 Final Assembly site will be the largest solar installation in the Southeast and the sixth largest in the US.
Under a new agreement between TPG Capital and Comtec Solar Systems Group, TPG will invest a total of US$150 million through newly issued convertible bonds and warrants. TPG has subscribed for unsecured convertible bonds, which are due in 2016 with an aggregate principal of US$100 million. The bonds are zero interest and will be able to transfer into Comtec’s new ordinary shares at an initial conversion price of US$0.50 per ordinary share. If the bonds are not exchanged after five years, they will be redeemed at par.
Solar cell manufacturers are undertaking aggressive expansion plans at present in an attempt to meet ambitious 2011 shipment forecasts, according to Solarbuzz’s latest quarterly report. This ramping up of production has the potential to create US$15.2 billion in revenue for manufacturing firms – a year-on-year rise of 41%.
Yingli Green Energy has signed an exclusive module distribution agreement with YHS. Under the terms of the contract, YHS will purchase modules totalling 10MW and take on the role of Yingli’s sole Japanese residential market distributor.
OPEL Solar International has finalized its financial statements for 2010 declaring increased revenues for both the fourth quarter 2010 and full 2010 year. Revenue for Q4 2010 was finalized at US$375,747, which contributed to its 2010 revenue total of US$1,647,638. Both the Q4 and full year results show an increase in revenue over figures for the same period in 2009.
AU Optronics’ (AUO) multi- and mono-crystalline solar modules have been added to the California Energy Commission’s (CEC) List of Solar Eligible Equipment. The company’s EcoDuo PM220P00, EcoDuo PM240P00 and GreenTriplex PM250M00 modules are now all eligible for sale to residential users, solar system integrators and local distributers in US states that have adopted the CEC standards, which include California, Connecticut, Massachusetts, Nevada, Pennsylvania and Wisconsin.
Solyndra and Interservice Uzunovi solar division have signed an engineering, procurement and construction (EPC) agreement for a 1MWp installation on the rooftops of Biomet, the Bulgarian logistics company located in Sevlievo.
