In a conference call with financial analysts, held today, Evergreen Solar’s Chairman, CEO and President, Richard Feldt, responded to one of the last questions in the hour long call over the expected outcome for Sovello. He noted that the company had only weeks to seek a buyer that would probably acquire the company at ‘fire-sale’ prices or enter into insolvency.
In a major effort to boost its position within the solar equipment market, Singulus Technologies is planning a suite of new product introductions in 2010 that will include technologies to lower PV manufacturing costs and boost cell efficiencies for both both ‘front-end’ c-Si production and CIGS and CdTe applications. Another import move will be the development of complete integrated turnkey lines for ‘front-end’c-Si production, leveraging technologies and systems from its recent acquisition of Stangl. The company noted that due to continued pricing pressures on PV manufacturers this was a key driver to focus on such solutions.
Israeli solar energy developer Arava Power has signed long-term deals with 15 agricultural cooperatives to build midsize photovoltaic installations at an investment of 2 billion shekels ($533 million), according to Reuters. The power plants will total 100MW and will average 6.5MW per field. Total investment is said to be 2 billion shekels ($544 million).
Borrego Solar Systems has appointed Bill Bush as Chief Financial Officer (CFO). Previously, Bush served as the CFO of Solar Semiconductor. He will work to further develop the relationship between Borrego Solar and investor Walsin Lihwa, and work with Borrego’s commercial and public-sector customers on solar system financing. Walsin Lihwa recently formed a US$30 million Power-Purchase Agreement Fund (PPA), organized as Green Lake Capital LLC.
Climate Change Capital Private Equity, the €200 million fund dedicated to investments in clean technology companies, has led a convertible bond issue in Metallkraft, the Norwegian company that developed a patented process to recycle spent slurry used in cutting solar silicon wafers.
1366 Technologies has closed venture capital funding worth $5.15 million, bringing the total amount raised by the silicon photovoltaics developer to $17.55 million. The round was led by returning investors Polaris and North Bridge Venture Partners.
Trina Solar has signed an agreement with German systems integrator AE Photonics to supply 40MW of crystalline-silicon photovoltaic modules in 2010. The terms of the deal call for 20MW to be shipped during the first half of the year by the vertically integrated Chinese solar manufacturer, with agreed prices for the first quarter. First shipments began in January.
U.S. Patent number 7,585,349 has been assigned to the University of Washington, covering an invention by Younan Xia and Yougang Sun, which has been licensed exclusively to Cambrios in its specific field of use.
With one of the largest order backlogs amongst solar industry equipment suppliers GT Solar International reported fiscal third quarter revenue of US$173.6 million, compared with US$104.2 million in the second fiscal quarter and US$205.2 million in the third quarter of fiscal year 2009. The company raised FY2010 guidance to the upper end of its previous range with revenue expectation of US$500 million to US$550 million.
