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.
PV module shipments have declined for the first time in two years, according to the latest figures released by IMS Research. The quarter-to-quarter shipment figure fell by nearly 10%, a drop attributed to the uncertainty surrounding the announcement of Italy's new feed-in tariff.
QSolar has shipped 56 of its 230W Spraytek79 panels to Morocco to help complete the final testing phase of the country’s three latest solar projects. Testing of the systems, which have capacities of 30MW, 6MW and 1MW and a total value of US$51.21 million, is being carried out by the Moroccan branch of Allied Solwin, Solwin Maroc Sarl.
Innotech Solar has signed a US$8.18 million (NOK 45 million) deal to provide 4.3MWp of its PV modules and engineering services to an undisclosed Spanish customer. The PV modules will be part of a roof mounted solar project near Grenada, Spain and use over 20,000 of Innotech’s PV modules. Delivery is scheduled to begin this month and conclude in September. The Spanish PV plant has an estimated 6GWh of electricity output per year.
The Cincinnati Zoo & Botanical Garden is home to a new 1.56MW parking lot canopy solar system, which uses 6,400 solar panels from SolarWorld. The fifteen solar arrays cover 800 of the 1,000 parking spaces in the zoo’s primary parking lot and are expected to deliver 20% of the zoo’s power needs. The four-acre solar installation was developed, engineered and installed by Melink.
