Financial & Legal

Google and SolarReserve today announced completion of US$260 million in financing for one of Africa's largest solar projects.

The bankrupt main manufacturing subsidiary if Suntech Power Holdings is reported to have debts of over US$2.8 billion.

Struggling PV manufacturer SolarWorld will hold an extraordinary shareholders’ meeting on 11 July 2013 in Bonn, Germany, after the company revealed a 50% loss in capital stocks.

A majority of Centrosolar’s creditors have voted in favour of restructuring the struggling German PV manufacturer’s debts.

Canadian Solar has won a court case relating to an alleged breach of contract concerning its wafer supply contracts with LDK Solar.

Former management at PV Crystalox’s polysilicon plant in Germany are in talks with the company to acquire the shuttered plant.

Japan's Shinsei Bank has signed a project financing agreement with Japan Renewable Energy to provide a ¥10 billion (US$97 million) loan to fund the development of 40MW worth of PV projects.

Applied Materials reported a surprise GAAP operating loss for its Energy and Environmental Solutions (EES) segment of US$322 million that included impairment charges of US$278 million. Non-GAAP operating loss was US$34 million.

Struggling LDK Solar has reported a net loss of US$1.05 billion in 2012, the starkest figure in an annual report containing volumes of negative financial figures.

SMA Solar Technology is continuing to tout the expectation that a dire PV market this year will lead to the company making further headcount reductions.