ReneSola Ltd. announced that its wholly owned subsidiary, Sichuan ReneSola Material Co. Ltd., has signed a RMB800 million (about US$117 million) 5-year project loan agreement with China Construction Bank, Sichuan Branch. This loan will contribute to the funding of construction of a polysilicon manufacturing facility in Meishan, Sichuan province and will provide ReneSola with a steady, inexpensive supply of polysilicon.
Despite the industry’s economic woes, Jenoptik Group has released details of its financial outcome for 2008 showing organic growth and an overall successful 2008. As predicted by the company, group sales are set to reach just under €550 million while the group operating result will come in at about €37 million. Figures for 2008 are an improvement on 2007’s earnings, and the company expects this positive outlook to continue into 2009.
Entech Solar has appointed Kent J. Van Houten as Chief Financial Officer, where he will manage the company’s financial strategy, corporate planning, treasury functions, internal controls, and SEC reporting.
Tore Torvund has been appointed as Executive Vice President of the REC Group to lead REC Silicon’s operations. He will also serve as a member of the REC Group Management Team.
First Solar, Inc. has announced its support of the new International Renewable Energy Agency (IRENA), an organization created to globally promote renewable energy solutions for both industrialized and developing nations.
Roth & Rau AG has received a major order to supply two turnkey production lines worth €26 million to the Korean solar cell manufacturer Millinet Solar. The lines, which have production capacities of 60MWp each, will be supplied from June 2009 and November 2009.
Intersolar’s organisers have reiterated their support of young and innovative companies in the solar industry today, and will continue to offer reduced rates for such participants at Intersolar 2009. The solar technology trade show has entered into a support initiative with the German Federal Ministry of Economics and Technology (BMWi) in presenting Germany as an attractive location for starting a business.
In a move that will signify the company’s initial foray into the European market, SunEdison has purchased Business Institute Solar Strategy GmbH (BISS). The company has brought with it 38MW of PV projects that are currently under development in Italy and Spain and opens the door to close to 300MW of development opportunities in Europe.
