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.
Constellation Energy will build, own and maintain a 5.38MW rooftop solar installation at Toys R Us’s distribution centre in Flanders, New Jersey. The system, said to be the largest of its kind in the US, will be connected to the grid this summer and all the electricity generated will be purchased by the toy store under a 20-year power purchase agreement.
Energy Conversion Devices (ECD) is looking to put its third fiscal quarter of 2011 and its rather dreary financial results behind it. The company has decided upon a strategic corporate restructuring process that it hopes will lead it to better future financial results. The company saw its consolidated revenue slide 69% from Q2 2011 and 70% from its Q3 2010 results by only posting US$21.5 million in Q3 2011, pinpointing “industry-wide disruptions” in key European solar markets as the leading factor in its final Q3 revenue.
JA Solar Holdings’ financial results for its first quarter 2011 have revealed a profitable quarter that even surpassed some Wall Street analysts’ expectations. The company posted total revenue for the quarter of US$556.4 million, which, although shows a 5.5% sequential decrease from 2010’s fourth quarter results of US$588.9 million, still comes in 91.2% higher in a year-over-year comparison with 2010’s first quarter US$290.9 million result.
Trina Solar has revised its Q1 guidance figure ahead of the release of its Q1 financial results. The most significant of the changes was a downward adjustment in module shipments from around 351MW to between 320 and 322MW, which came in response to the fall in module demand caused by the uncertainty surrounding Italy’s feed-in tariff.
