Solar EnerTech has announced its financial results for the second quarter of fiscal year 2010. The company's total module shipments increased 314% in the second fiscal quarter 2010 in comparison to the second quarter of 2009, while revenue increased 302% to US$17.8 million, up from US$4.4 million in the previous year.
Although financial restructuring efforts with its lenders are still ongoing, Conergy posted its first quarterly operating profit in several years. Conergy increased its sales by 165% to €150.3 million in the first quarter of 2010, up from €56.7 million in the same period a year ago. EBIT figures of €0.3 million meant the company returned to profit.
Private equity firm, Mid Europa Partners, has signed an agreement to acquire a strategic stake in Energy 21, committing to inject new equity to support the company's growth strategy in Central and Eastern Europe. Energy 21 currently has an installed generation capacity of 26MW, with a further 75MW in development.
SHEC Energy and Cleanergy have signed a memorandum of understanding for the joint development of a high-efficiency solar Stirling engine. SHEC Energy's solar receiver technology will be combined with Cleanergy's Stirling engine technology to develop the advanced offering.
A new equipment investment cycle for PV manufacturers is boosting quarterly sales for Roth & Rau. New order intake in the first quarter increased 22.5% to €55.8 million, compared to €45.5 million in the previous quarter. Due to long lead times in its project business, the first-quarter revenue continued to be affected by the poor order situation in the second and third quarters of 2009, resulting in revenue declining to €35.32 million.
An announcement by Sharp Solar outlining the potential boom in the Turkish PV market has referred to the country’s government’s recent introduction of a €0.28 feed-in tariff for the first 10 years, with a rate of €0.22 thereafter for another 10-year period. Turkey receives an average of seven hours of sunshine per day, with a radiation intensity of 1,300 kilowatt-hours per square metre.
3M announced that it will be an associate partner of the Desertec Industrial Initiative based in Germany. 3M will contribute in film, adhesive and coating component technologies along with its experience in high-voltage overhead systems.
San Diego Gas & Electric (SDG&E) has signed a 20-year power-purchase agreement with an LS Power subsidiary to secure up to 130MW of solar energy from the intended Centinela Solar Energy facility in Imperial Valley. The contract runs through 2033, wherein the PV facility will produce enough renewable energy for around 45,000 households. Final approval from the California Public Utilities Commission is still required.
Southern California Edison (SCE) and SunLink announced the signing of a master supply agreement for the use of SunLink’s rooftop solar mounting solution. The SunLink system will be used in the next step of SCE’s solar generation program.
The Australian Federal Government announced its 2010/2011 budget on May 11, showing strong support for renewable energy. The Australian Greens leader, Bob Brown, announced a new AUS$652 million Renewable Energy Future Fund, which will be part of an expanded AUS$5.1 billion Clean Energy Initiative.
