Bloomberg is reporting that Conergy stock rose to its highest point since February following a report from the Financial Times Deutschland. The paper stated that the company was near ready to sell a 30% stake of Conergy to an undisclosed Chinese buyer. Bloomberg noted that company stocks rose as much as 16% to €0.57 per share.
PV manufacturer PVA TePla AG has announced it has generated sales revenues of €31.0 million in the first quarter of 2012 (previous year: €23.1 million), its EBIT amounted to €2.9 million (previous year: €1.8 million).
Having made a few leaps in the last six months alone with a TÜV safety certification in September, announced the production of its first 100MW thin-film modules and partnering with altPOWER for future US-based BIPV projects, executive management of Soltecture have applied to open insolvency proceedings. Having extensively explored new financing options, including rebranding and restructuring initiatives towards the end of last year, the company has stated it saw no other viable option for averting the company’s impending insolvency at the present time.
Westinghouse Solar and CBD Energy are hoping that the definitive merger agreement both companies signed this week will be completed by Q3 2012. Approvals from both companies’ board of directors have been received. Limited closing conditions and approval by both companies’ shareholders need to be finalized in order to complete the deal.
MySolar, the new residential solar lease facility created by Clean Power Finance, MS Solar Solutions and Main Street Power Company, is being called the largest in the US. The program will provide funding for up to US$300 million in projects with Zions Energy Link being the first member of a syndicate of debt providers for the MySolar residential solar lease facility.
Kyocera Solar launched the Kyocera Solar Finance program, which aims to provide loan and lease options for customers looking to install light to mid-to-large commercial solar installations. The program is run in partnership with De Lage Landen Financial Services with Kyocera offering up to 100% financing for qualified borrowers.
JinkoSolar will continue to sponsor Valencia Football Club for two more years following the signing of a new contract. Valencia recently finished third in Spain’s La Liga and will play in the European Champions League next year. JinkoSolar will remain the club’s main sponsor and the company’s logo will be featured on Valencia’s home and away shirts throughout the season.
Declining prices whether on the spot market or long-term supply agreements are making business conditions very tough for polysilicon producers, regardless of their market size or purity of the material they produce. According to the latest financial results of Dow Corning, its JV subsidiary, Hemlock Semiconductor expects overcapacity in the sector to continue throughout 2012.
Assurant has launched a new comprehensive insurance offering for commercial solar project developments specifically aimed to service the 100kW to 3MW solar market. The Assurant Solar Project Insurance is said to be the industry’s first warranty administration and comprehensive protection plan for all phases of commercial-sized development projects.
OPEL Technologies released its financial statements for both Q4 2011 and the full 2011 fiscal year. The company confirmed that its revenue for Q4 was US$1.05 million while its annual revenue amounted to US$5.9 million. Both its quarterly and yearly revenues surpassed the amounts posted the year before by US$4.2 million in annual revenue and US$678,806 in quarterly revenue.
