Canadian Solar has signed a sales agreement that will see the company supply 81MW of solar modules to Saferay, Berlin-based developer, owner and operator of large-scale PV power plants, at a fixed price for projects based in Germany. With delivery of the modules already underway, the entire 81MW is expected to be delivered to Saferay before the end of the third quarter 2011. The cost of the transaction was not revealed.
Mixed results were seen by Conergy for the first quarter as international sales took the sting out of very weak demand in Germany. Conergy reported sales of €163.3 million in the first quarter 2011, up 8.6% compared to the same quarter in the previous year. However, sales were down significantly from the fourth-quarter 2010, when sales reached €248.5 million.
GT Solar has improved productivity on its latest-generation multicrystalline ingot growth system. The process on the DSS650, which produces ingots >625kg, has been enhanced by 44% over the earlier generation DSS450 tool, as a result of reduced cycle time, while maintaining high crystal quality and mass ingot yield, according to the company.
The board of Satcon Technology has named Aaron Gomolak to be its executive VP, CFO, and treasurer, replacing replacing Donald Peck. Gomolak joined the PV inverter and power conversion company in May 2008, most recently serving as the senior VP of global operations.
SunPower released its first quarter 2011 financial results today confirming its earlier suspicion that Q1 revenue would be affected by Italy’s project delays. Revenue for Q1 2011 came in at US$451.4 million, a 30% year-over-year increase, but a 52% drop from Q4 2010’s US$937.1 million. Gross margin was finalized at 19.6% GAAP, compared to Q4’s 25.4%.
Wattner has acquired a 9.2MW solar system, which will be constructed across five of Germany-based Opel’s rooftops. Wattner secured EWT SolServ for the construction and installation of the project, which will use nearly 40,000 solar modules and 500 inverters. The energy produced from the project will be fed directly into Opel’s corporate grid.
SolarWorld has posted impressive Q1 financial figures, with shipments, revenue and earnings before interest all rising. These numbers are in stark contrast to those of many of SolarWorld’s peers and have been attributed to its strong performance in North America.
eIQ Energy’s has agreed to supply its Parallel Solar technology for a new 1.2MW solar installation at Granite Construction’s aggregate and hot mix facility in Coalinga, California. Building work on the project began earlier this month and grid connection is expected to be achieved later on this summer.
Spire has reported its revenues from its first quarter 2011, posting revenue for Q1 at US$18.4 million. The result is 2% below Q1 2010, which reported revenue of US$18.9 million. Net loss for Q1 2011, was US$2 million, or US$0.24 per share, contrasted against Q1 2010’s US$0.7 million, or US$0.08 per share.
Sales at Q-Cells fell by approximately 46% in the first quarter of 2011 to €125.1 million, compared to €232.3 million in the first quarter of 2010. The company cited a string of market issues that were responsible for the crash in sales, held higher by the sale of a utility-scale project in Strasskirchen, Germany, that provided proceeds of €72.5 million and the €20 million sale of electricity trading company QCCS at the end of 2010.
