Peru's government has signed contracts with 26 companies that are expected to invest US$1 billion in renewable energy projects. The country's President Alan Garcia oversaw the agreements, which outline that four solar power plants are to be constructed in the country.
According to reports, Taiwan-based Mosel Vitelic has cancelled a five-year solar wafer contract with LDK Solar and is seeking US$46 million in refunds of its downpayment and compensation for noncompliance with the contract, which was signed in 2007. Mosel Vitelic also claimed that during peak demand cycles, LDK Solar was unable to meet contracted wafer quantities, resulting in business being turned down. Mosel Vitelic has a 60MW production capacity for crystalline solar cells.
1366 Technologies said it has completed its National Renewable Energy Laboratory PV Technology Preincubator program six months ahead of schedule. The crystalline-silicon photovoltaic equipment company signed the contract with NREL in October 2009 for the development of its "Direct Wafer" technology, a "kerfless" approach which produces compatible silicon wafers directly from the silicon melt without casting or sawing and has the potential to reduce wafer production costs by as much as 70%.
The cards would seem to have been stacked against Sunfilm on multiple fronts that have resulted in the a-Si thin-film producer filing for insolvency on March 26, in the district court in Dresden, Germany. Despite a merger in May 2009 with another thin-film start-up, Sontor, that gave the company a combined capacity of 145MW and tandem-junction cells with 8% claimed efficiencies, a resurgent crystalline solar competitive position and the dominance of CdTe thin film and global leader, First Solar, has squeezed many thin-film producers through 2009 and into 2010. Approximately 300 employees at the two manufacturing plants had been on shorter working hours since late 2009. The merged company had approximately 400 workers when the merger was announced.
Having been the major beneficiary of venture capital investments over recent years, solar funding could be on the wane if the fall in funding for the first quarter of 2010 develops into a trend going forward. According to the latest findings issued by the Cleantech Group and Deloitte, transportation topped the category list for the first time with US$704 million invested in 27 deals. The solar sector only attracted US$322 million in 27 deals. Clean technology in general attracted VC investments totalling US$1.9 billion across 180 companies in the first quarter of 2010.
The third-largest built solar PV power plant, located in Lieberose, Germany, has been sold by juwi Group for approximately €160 million to WealthCap, a subsidiary of UniCredit Bank. The 162-hectare site was a former military training area and employs 700,000 CdTe thin-film modules from First Solar for a capacity of 53MW. The plant came onstream in autumn 2009.
One of AES Solar Energy's subsidiaries has closed a long-term project financing round totaling €173 million, to finance the construction of the Cellino San Marco (CSM) project, the 43MW solar PV facility located in Puglia, Italy. CSM is now the largest solar PV project in Italy to reach financial close.
Enphase Energy has secured US$40 million in funding, with Bay Partners leading the equity financing. This round of financing also includes participation from Horizon Technology Finance, Bridge Bank and existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures.
Embarking on its second year as India’s international exhibition for solar technology, Intersolar India will this year be held in the Bombay Exhibition Centre in Mumbai, having been held in Hyderabad for its inaugural show in 2009. The relocation to one of the country’s largest exhibition centres underscores the success of last year’s launch, paving the way for the expansion of the show in years to come.
Impacted by high polysilicon contract prices that were significantly above current spot prices and major competitors reported costs, LDK Solar reported fourth quarter, 2009 revenue below market expectations. Net sales for the fourth quarter of fiscal 2009 were US$304.6 million, compared to US$281.9 million for the third quarter of fiscal 2009, and US$426.6 million for the fourth quarter of fiscal 2008. Wafer ASPs declined faster than expected in the quarter. The company generated a small loss of US$3.5 million due to a US$10 million settlement of a class action lawsuit.
