Companies

China-based renewable energy provider Huaneng Renewables reported first half 2016 revenue of RMB 4,914.3 million (US$735.58 million) a 25.3% increase over the prior year period, partially driven by a 26.1% increase in electricity generated from its PV power plant operations.

The solar yieldco business model was “flawed from the beginning”, says a US bank executive, who downplays sentiment that it was the SunEdison yieldco disaster that tarnished the model for good.

Lazard, the financial advisory that advised SolarCity on its US$2.6 billion all-stock sale to Tesla, made an error in its analysis resulting in the solar installer being undervalued by US$400 million, according to a regulatory filing with the Securities and Exchange Commission (SEC).

On Monday, a ruling by Nevada Public Utilities Commission (PUC) chairman and presiding officer Paul A Thomsen barred SolarCity from intervening in upcoming proceedings concerning the grandfathering of more than 20,000 rooftop solar customers.

Inverter manufacturer ABB India has opened a solar inverter manufacturing facility in the southern city of Bangalore, which doubles the firm’s capacity in the country.

Diversified renewable energy firm Shunfeng International Clean Energy (SFCE) has reported first half year 2016 financial results wherein its grid connected PV Power plant capacity of 1,780MW is unchanged from the end of 2015.

PV thin-film equipment and module producer Hanergy Thin Film Power Group (Hanergy TF) has claimed to have bounced back from a non-cash loss of around US$1.58 billion in 2015 to a first half 2016 net profit of around US$105.8 million.

Solar associations in Spain and Cuba are partnering to share information and cooperate on trade missions to promote PV in both countries

Monocrystalline wafer producer Comtec Solar Systems Group has reported first half 2016 financial results that were impacted by a decline in average selling prices (ASP) and lower volume shipments, due to production upgrades and training at its facility in Malaysia.

RWE International SE (innogy), a leading European energy company, has signed a share purchase agreement to takeover the solar and energy storage business of Belectric.