Akeena Solar has announced its results for the first quarter ended March 31, 2010. The company reports total revenue of US$6.5 million with a gross profit margin of 23% with strong bookings. Compared to the year-end, backlog increased US$2.0 million, and was more than double the US$4.8 million backlog at the end of the first quarter of 2009.
SunPower has signed an agreement with Pacific Gas and Electric (PG&E), completing contractual arrangements between the companies for the development of a 250MW solar photovoltaic power plant in San Luis Obispo County, CA.
Hoku Materials has announced the successful production of polysilicon at its manufacturing facility in Pocatello, Idaho. The company produced the material after completing a comprehensive system commissioning protocol which culminated in deposition runs in a select number of its installed polysilicon reactors.
Proinso announced that it will be supplying PV modules for a solar PV project totaling 35MW in Ravenna, Italy. The agreement follows the 40MW of modules for 186 PV projects in Italy through May. With this new announcement, the company projects around 100MW of sales in the Italian PV market.
Singulus recently published their first quarter financial results, posting a higher order intake this year of € 39.8 million, compared to last year’s first quarter € 17.4 million. The company still felt the hard economic hit though when it came to sales trends, posting a total of € 21.6 million for first quarter 2010.
Q-Cells supervisory board has hired Dr. Marion Helmes as the new CFO, effective July 1, 2010. Dr. Helmes comes to the CFO post after Dr. Nedim Cen, who has held the position on a temporary basis since March, while also serving as chairman for Q-Cells board of directors.
Moser Baer India has announced that it expects its solar unit, Moser Baer Photo Voltaic, to dominate the business within five years as demand for clean energy in India outpaces that of DVDs and Blu-rays. "Growth in photovoltaics dwarfs our main business," said chief financial officer Yogesh Mathur. "The industry is growing at a rate of 40 to 50% and we may grow even faster if we're able to take up our capacity."
OPEL Solar is in the process of qualifying a number of manufacturing companies to build its product line in North America. The company is intending to manufacture its HCPV panels and tracker products with the support of local industry in the U.S. and Canada to ensure prompt and cost-effective delivery of North American orders, as well as contributing to the growth of jobs in the area.
According to updated figures from GSE, PV installations in Italy for 2009 have risen to 720.3MW, up from revised figures released in January, 2010 of 374MW. Installations connected to the grid in 2008 were 338MW. Recently, Barclays Capital had forecasted that PV installations in Italy could reach 2GW in 2010 as grid parity had been reached.
New Jersey’s Lieutenant Governor was on hand along with officials from FedEx ground and BP Solar to celebrate the official dedication of the large rooftop solar-electric system on FedEx Ground’s New Jersey hub. The rooftop project was completed last December and marks the third solar power project between a FedEx operating company and BP Solar.
