Financial & Legal

Ceradyne has acquired a minority interest in Japanese advanced technical materials firm Yamanaka EP for an undisclosed amount.

China-based polysilicon producer, Daqo New Energy, has reported its first financial year results as a public company, listed on the NYSE. Polysilicon shipments for 2010 were 3,650MT, module shipments were 3.5MW, after starting volume production in the fourth quarter. Revenues in the fourth quarter of 2010 were $81.9 million, an increase of 29.6% from the third quarter of 2010. The increase was mainly due to higher average selling prices for the polysilicon.

Auctioneer and appraisal company CIACPCC has publicized the upcoming one-day equipment auction for the assets and equipment contained within Sixtron’s Dorval (Montreal), Quebec facility in Canada. Running in conjunction with Asset Reliance International and Upstream Value Group, the webcast equipment auction will feature more than US$1.5 million worth of original equipment for solar manufacturers.

Solyndra has recently closed on its new US$75 million in secured credit facility, which was underwritten by current investors. The company stated that the financing will go towards furthering its pursuit of cost reductions and implementing its channel expansion, segment sales and marketing stratagems.

Citing 2010 as being a transformational year for the company, Dr. Peng Fang, CEO of JA Solar, noted that annual revenues increased 211%, while PV shipments increased by 187%. Revenue for the year was US$1.78 billion, PV shipments reached 1.46GW.

Trina Solar squeezed a little more module shipments out of the factory gate in 2010 than previously guided. Shipments were approximately 351MW for the fourth quarter of 2010, compared to previous guidance of approximately 300MW, resulting in total 2010 module shipments reaching approximately 1.06GW in 2010.

First, Tessera Solar sold its 850MW Calico Solar project to K Road Sun in late December and now the company has announced that its 709MW Imperial Valley solar project has been bought by AES Solar, who, like K Road, intends to convert the CSP project into a PV installation.

The 9REN Group recently closed on a funding lease from UniCredit Leasing that will go towards the financing of the Pacione 1 PV power plant. The Italian PV plant, located in the Taranto province, is complete and holds a 6.5MW capacity. Grid connection is expected to occur in the next few weeks.

With significant ingot and wafer capacity expansions, notably underway in Asia, the demand for slurry recycling is working in tandem. With a claimed 40% market share, SiC Processing is raising €100 million via a bond issue to further expand operations in Asia and other regions.

With the acquisition of Solarfun and its recent name change to Hanwha SolarOne, the PV manufacturer is to change its NASDAQ ticker symbol to ‘HSOL.’ This will take effect when the market opens on February 15, 2011.