Financial & Legal

Big name investors contributed US$37.3 million in LightSail Energy’s, an energy storage technology company, Series D funding round.

A report conducted by Clean Power Research for the Mid-Atlantic Solar Energy Industries Association (MSEIA) and the Pennsylvania Solar Energy Industries Association (PASEIA) notes that New Jersey and Pennsylvania deliver cost friendly solar power to consumers.

SiC Processing strikes deal to delay payments to major creditors until 28 February 2013.

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.

Officials from Colorado-based Abound Solar are facing a criminal investigation over possible fraud, it has emerged.

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 insolvency administrator Lucas Flöther for PV company Sovello has released details that it will be further reducing the company’s core team.