Challenging competitive market conditions in Europe are forcing SunPower to re-evaluate its business strategy in the region after sales shrank and its European operations were loss-making in the third quarter of 2012.
Utility-scale PV inverter specialist Advanced Energy Industries (AE) has reported record sales of US$60.7 million in Q3 2012, fuelled by growing demand from the North American large-scale commercial and utility markets.
LDK Solar, one of the world's largest producers of solar wafers, has finalised a deal to sell three solar plants to Henan Xindaxin Materials for RMB140 million (US$22.4 million).
Phoenix Solar has amended its revenue expectations for its 2012 financial year with revenue expected to drop to between €150 and €170 million (US$194 to US$200 million) for the year.
The California Public Utilities Commission (CPUC) approved two amended BrightSource contracts, totaling 1,300,000MWh annually, with Southern California Edison (SCE).
The Wacker Group released its Q3 2012 financial results, which saw the company’s polysilicon business take another hit. Overall, Wacker saw the third quarter generate an EBITA of €204.3 million, 36% less than Q3 2011 and 15% less than Q2 2012. Its polysilicon division posted sales of €269.1 million, down 29% from the same period last year. Wacker notes that its sale and earnings for its polysilicon unit dropped because of continued pressure on prices and high inventory levels in the solar industry.
Norway-based Renewable Energy Corporation ASA (REC) has revealed that its revenues from continuing operations for the third quarter of 2012 fell by 24% to NOK1.51 billion compared with the corresponding period one year earlier.
The Development Bank of Southern Africa (DBSA) has approved loan facilities worth R9,668.50 billion (US$980 million) earmarked for 13 solar projects in South Africa. Combined, the projects have a total capacity of 762.6MW.
