First quarter revenue and shipments at Hanwha SolarOne increased sequentially, adding to a growing theme that low-cost PV manufacturers can still find customers, despite weak demand. Total net revenues were US$335.2 million, an increase of 3.9% from 4Q10 and an increase of 48.7% from 1Q10. PV module shipments, including module processing services, reached 248.5 MW, an increase of 13.6% from 218.8 MW in 4Q10 and an increase of 65.0% from 1Q10. However, ASP declines and slightly higher material costs resulted in gross margins falling to 16.3% down from 20.3% in 4Q10.
Roth & Rau has purchased a production facility from electronics firm, Possehl Electronics in, Shenzhen, China to better serve customers in the region. Financial details of the transaction are to remain confidential. As part of the deal, equipment and personnel of around 145 employees will be retained by the PV equipment supplier. Roth & Rau is being acquired by Meyer Burger.
A veteran sales manager, Daniel Priem has been appointed as director of business development and sales for PV module mounting specialist, Zep Solar in Europe. The highly praised Zep mounting system has already attracted licenses from Canadian Solar, Centrosolar, Eco-Kinetics, ET Solar, Trina Solar and Upsolar. Priem has been tasked with penetrating key European regions, including Germany, Italy and the UK.
Solmentum, a residential power sales company, has completed its 1,000th project putting it over 5MW in sales after only two years of being in business. With the milestone, Solmentum is considered one of California’s five largest residential solar companies when it comes to monthly sales.
A thirty-year veteran to the financial management business, Surendra Kumar Gupta will be bringing his experience to his new CFO position with Azure Power. As a member of the company’s executive team, he will support operational and business development financing, project initiatives, create business plans and help advise the board of directors.
With its shift from cell producer to module producer virtually complete, China Sunergy produced first-quarter 2011 results in line with the fourth quarter of 2010, except in relation to higher inventory and falling module prices. Net income crashed 77.3% to US$3.5 million compared to the previous quarter net income of US$15.4 million. Revenue increased to US$165.7 million, a 58.9% increase year-on-year over Q1 2010 but a slight decrease of 2.3% over the fourth quarter of 2010.
BRE Global and TÜV Rheinland will be working together for access to the UK Microgeneration Certification Scheme (MCS) for PV system manufacturers under their newly executed memorandum of understanding (MOU). MCS, a UK-based program, certifies microgeneration technologies under vigorous criteria. Through the companies signed MOU, PV panel manufacturers who use TÜV Rheinland for testing and certification to apply for MCS approval through BRE Global. Ultimately, the MOU will see TÜV Rheinland oversee that testing and factory inspection, while BRE Global finalizes that quality review for the UK market.
GT Solar has shipped 1,000 DSS multicrystalline ingot growth furnaces in seven months having announced a new milestone of its 3,000th DSS system being shipped to customer, Gigastorage in Hsinchu, Taiwan. It was only in early November, 2010 that GT Solar announced it had reached a new milestone of its 2,000th DSS system shipment, then to another Taiwan-based PV producer, Green Energy Technology (GET).
The Japanese Government is contemplating making it compulsory for all new buildings to be fitted with solar panels by 2030, according to financial newspaper Nikkei. The proposed legislation illustrates Japan’s desire to promote the use of renewable energy and is expected to be unveiled at the upcoming G8 summit in Deauville, France.
Plans are in the works to develop and build a 20MW solar PV power plant on property surrounding the Maryland Correctional Institution outside of Hagerstown. The project would be the largest commercial solar facility in the state.
