Financial & Legal

Solar prices in the US in 2013 fell by a further 15% year on year, a study from the Department of Energy and Lawrence Berkeley National Laboratory has found.

Three of Cayman Islands-registered LDK Solar’s US-based subsidiaries are to file for Chapter 11 bankruptcy, supporting attempts to restructure rather than fold the company.

Chile’s government has released CLP780 million (US$1.3 million) to fund the early-stage development of 51 renewable energy projects totalling 740MW.

Taiwan-based solar cell producer, Solartech Energy is investing approximately US$16.2 million in Malaysia-based solar cell producer, TS Solartech Sdn Bhd, a subsidiary of Tek Seng Holdings Bhd.

The largest US solar installer, SolarCity has revised certain terms related to the purchase of PV manufacturer, Silevo.

Bankrupt Suntech Power Holdings said in an SEC filing that its subsidiary, Power Solar System has been granted an injunction in Singapore’s High Court prohibiting the disposal of assets claimed to be worth US$197.5 million by Suntech Singapore.

Internet giant Google is to provide US$145 million equity finance for an 82MW US PV project in the portfolio being operated by SunEdison’s spin-off yield co, TerraForm.

There will be almost no new utility-scale solar in the US in 2017 following the cut to the investment tax credit (ITC), according to GTM Research.

Solar Enhanced Oil Recovery (EOR) leader GlassPoint Solar is set to receive a US$53 million equity investment from the State General Reserve Fund –- Oman’s largest sovereign wealth fund – Royal Dutch Shell and other investors.

Side-stepping the trend towards yield co financial structures, major PVEP Canadian Solar has secured a PV project financing partnership with China’s Sichuan Development Investment Management firm, part of the local Sichuan government.