Under a new agreement between TPG Capital and Comtec Solar Systems Group, TPG will invest a total of US$150 million through newly issued convertible bonds and warrants. TPG has subscribed for unsecured convertible bonds, which are due in 2016 with an aggregate principal of US$100 million. The bonds are zero interest and will be able to transfer into Comtec’s new ordinary shares at an initial conversion price of US$0.50 per ordinary share. If the bonds are not exchanged after five years, they will be redeemed at par.
Solar cell manufacturers are undertaking aggressive expansion plans at present in an attempt to meet ambitious 2011 shipment forecasts, according to Solarbuzz’s latest quarterly report. This ramping up of production has the potential to create US$15.2 billion in revenue for manufacturing firms – a year-on-year rise of 41%.
Yingli Green Energy has signed an exclusive module distribution agreement with YHS. Under the terms of the contract, YHS will purchase modules totalling 10MW and take on the role of Yingli’s sole Japanese residential market distributor.
OPEL Solar International has finalized its financial statements for 2010 declaring increased revenues for both the fourth quarter 2010 and full 2010 year. Revenue for Q4 2010 was finalized at US$375,747, which contributed to its 2010 revenue total of US$1,647,638. Both the Q4 and full year results show an increase in revenue over figures for the same period in 2009.
AU Optronics’ (AUO) multi- and mono-crystalline solar modules have been added to the California Energy Commission’s (CEC) List of Solar Eligible Equipment. The company’s EcoDuo PM220P00, EcoDuo PM240P00 and GreenTriplex PM250M00 modules are now all eligible for sale to residential users, solar system integrators and local distributers in US states that have adopted the CEC standards, which include California, Connecticut, Massachusetts, Nevada, Pennsylvania and Wisconsin.
Solyndra and Interservice Uzunovi solar division have signed an engineering, procurement and construction (EPC) agreement for a 1MWp installation on the rooftops of Biomet, the Bulgarian logistics company located in Sevlievo.
CBD Energy is on the verge of signing a contract finalising its joint venture with two of China’s biggest renewable energy companies, China Datang Renewable Power and Tianwei Baobian Electric.
Total has signed an agreement with EDF ENR to acquire all of Tenesol’s operations outside of France’s overseas departments and territories, of which it already owns 50%. Tenesol’s operations in the French overseas departments and territories would continue to be equally owned by the Total Group and EDF ENR.
Del Webb will now include solar power alongside other energy-efficient features at its two new home Sun City communities in the Phoenix metro area. Featuring a 1.8kW roof- integrated solar system provided by SunPower, approximately 11,200 new buildings will now generate their own renewable energy, reducing the operational costs of each home.
Solutia has been awarded a contract to supply its Therminol VP-1 synthetic heat transfer fluid for the US$2 billion Solana solar power plant project, which is being developed by Abengoa. Once complete the Arizona-based plant is expected to be the largest parabolic trough concentrating solar plant in the world, and the first large-scale solar plant in the US capable of storing energy for continued power generation during periods of low light.
