In the wake of Hurricane Ike, MEMC Electronic Materials has experienced some production slowdowns largely caused by delays in raw materials deliveries from suppliers to the company's Pasadena, TX, polysilicon plant. As a result, the company has updated its financial outlook and lowered its third-quarter revenue targets from a previous guidance range of $560 million-$620 million to $520 million-$540 million.
Confluence Solar has raised $12.7 million in a Series A financing roundled by Convexa Capital. The high-quality photovoltaic siliconmanufacturer will use the money to help finance the opening of its newfacility in Hazelwood, MO, where the company will develop its HiCzsingle-crystal product, which it says produces greater wattoutput than that found in traditional multicrystalline siliconplatforms.
After repeated failures to pass similar legislation, the U.S. Senatevoted Tuesday to extend the investment tax credits for solar and otherrenewable energy sources as well as renew the R&D tax credit foranother year, the Associated Press reports.The $17 billion renewable credits package (known as the "EnergyImprovement and Extension Act of 2008," an amendment to HR 6049) ispart of a major tax relief bill approved in a 93-2 vote. TheHouse of Representative still has to vote on the renewable energycredits' portion of the bill. Reuters reports that the White House saidTuesday morning that it will now sign the legislation. The energy legislation extends for eight years, through 2016,investment tax credits for the solar power industry and for homeownerswho install solar and wind equipment.
The Fraunhofer Institute for Solar Energy Systems (ISE) in Freiburg has surpassed its own European multijunction III-V solar cell efficiency record, recently reaching 37.6 percent. The new record of 39.7 percent was achieved using a front-side network of thin metal wires that transport large currents but with low resistance.
Solar inverter company Sputnik Engineering has announced a management change in the replacement of Alejandro Lupion with Fernando Sánchez García as General Manager of the Sputnik Engineering Ibérica S.r.l. in Madrid. The change came into effect on September 15th, 2008.
Gestamp Asetym has inaugurated a 26-MW solar plant in southeastSpain--one of the largest in Europe--featuring photovoltaic modulesmanufactured and supplied by Trina Solar.
LDK Solar has filed a preliminary prospectus with the Securities and Exchange Commission for a proposed follow-on public offering of American Depository Shares, expected to generate $150 million. The funds will be used for the construction, currently ongoing, of its major polysilicon plant as well as expanding its wafer production.
Italian solar power system marketer Greenvision ambiente Photo-Solar, or GAPS, has sold a 43 percent stake in its company to Japanese M&A company Itochu. Recent start-up GAPS will receive approximately ¥1.2 billion (US$11.5 million) from the deal, which will also see collaboration between the two companies on marketing strategies, and the supply of Japanese-, U.S.- and Asian-made solar power modules to the company’s portfolio.
Schott Solar said ithas signed a multiyear contract withAEE Solar to supply the company with more than 5 MW of multicrystallinephotovoltaic modules. The deal marks the third U.S. supply contractannounced by Schott in less than a month, following agreements withPermaCity Solar and DC Power.
Johnson Controls has chosen Solar Integrated Technologies to supply andinstall building-integrated photovoltaic (BIPV) roofing systems onprojects inWisconsin, California, and Washington. The companies said the threecontracts total $3million and should be completed by the end of 2008.
