Despite current weakness in solar related equipment spending, due to weak demand for PV modules in the first half of the year and a longer than expected inventory build, GT Solar posted first quarter financial year revenue of US$231.1 million, compared to US$271.6 million last quarter and up 71% from the US$135.2 million of revenue in the first quarter of fiscal 2011. Record order backlog stood at US$2.3 billion.
Phoenix Solar Singapore has placed an order with Schott Solar for 67,000 PV modules, equivalent to approximately 16MW for two projects being developed near Bangkok, Thailand since June, 2011. The contract on supplying these modules was said to have been negotiated at this year’s Intersolar Europe. The two installations are expected to go into operation by the end of the year.
India-based, Mahindra EPC Services is using SunPower solar panels and T0 Tracker technology for multiple grid-connected solar power plants in India in the Punjab, Rajasthan and Gujarat regions, planned for this year. In total, SunPower is supply 15MW of modules and trackers and is the first partnership SunPower has had with the EPC contractor in India.
Not be outdone by rivals such as Yingli Green in the utility-scale PV power plant business in China, Trina Solar has secured a 30MW module supply agreement with Huanghe Hydropower Development Co. Huanghe Hydropower is planning two ground-mounted solar projects in China's Qinghai Province, of which delivery is expected to start from August and continue through October of this year.
A US$50 million fund is up for grabs by the US Department of Energy to domestic PV manufacturers wanting to take solar technology from the lab to the fab to help restore the United States as being at the forefront of solar manufacturing. The funding program is the second solar Photovoltaic Manufacturing Initiative (PVMI) initiative, dubbed SUNPATH, which stands for Scaling Up Nascent PV At Home.
Independent power developer K Road Power Holdings and Barclays Natural Resource Investments have established a partnership aimed at the development, construction, and operations of K Road’s utility-scale solar power portfolio. The developer has 11 solar projects totaling nearly 2.3GW in various stages of development in the southwestern US.
AEG Power Solutions has acquired the outstanding 25% of Skytron Energy after buying a majority stake in 2010. Under the existing management of Martin Sauter, Skytron will stay a separate legal entity with its own brand. The companies said they will jointly take advantage of the strong global growth within the solar market, especially in India. Other business opportunities are developing operations and maintenance business as well as smart-grid solutions.
Having cited weaker-than-expected financial results for the first quarter of 2011, due in part to the halt in PV installations in the key Italian market, Trina Solar has revised its second-quarter guidance, which points to the demand issues in Italy for the company's lower sales expectations.
China's first BIPV fire station was put into service in Baoding, Hebei, on July 29, featuring a 250kW, 2650 m2 solar façade. With an annual generating capacity of 300MWh the system is expected to reduce 312 tons of carbon emissions each year.
Meyer Burger Technology has received antitrust clearance from the Ministry of Commerce of the People’s Republic of China, concerning the acquisition of equipment supplier, Roth & Rau. The settlement of the tender offer and the payment of the offer price are expected to take place on 9 August 2011.
