Financial & Legal

SolarWorld is close to securing financial backing from a Qatari investor, its CEO Frank Asbeck has confirmed.

Quantum Guam Power (QGP), an affiliate of power generation company Quantum Utility Generation, has secured a 25-year power purchase agreement with Pacific Green Resources.

Global manufacturer Soitec has finalised a US$100 million bond to finance a utility-scale concentrating PV (CPV) plant in Touwsrivier, South Africa.

Advanced Energy Industries (AE) has started another round of restructuring aimed at taking advantage of the ‘fabless’ business model offered by recently acquired PV inverter company REFUsol.

Struggling SolarWorld has issued a few key preliminary consolidated financial figures, before disclosing full-year unaudited results.

South Korea-based polysilicon supplier OCI has cancelled all three of its long-term supply contracts with Suntech’s Chinese operations in response to subsidiary Suntech Wuxi entering bankruptcy proceedings.

Struggling PV manufacturer LDK Solar is issuing another tranche of shares to Fulai Investments in return for US$25.75 million.

International Finance Corp (IFC), part of the World Bank, has approved the financing of several PV power projects in India over the following two years.

Transmission equipment provider S&C Electric Company and independent power producer Green States Energy have inked a US$7.9 million contract for the construction of a 2.5MW solar plant near Roswell in New Mexico.

The future of LDK Solar subsidiary Sunways looks increasingly uncertain after its banks cancelled its €6.6 million line of credit.