For the second consecutive year after autumn 2009, preliminary estimates of electricity demand in Italy last year shows a 0.6% growth on 2010. The total energy demand in 2011 amounted to 332.3 billion kWh. PV accounted for 2.8% out of 64.7% of domestic production. However, the net national production (289.2 billion kWh) is a decrease of 0.5% compared to 2010.
Solar industry business people are continuing to investment in the Middle East. Terra Nex, a wealth management company specializing in Middle East investment and Germany-based Middle East Best Select (MEBS) plan a US$2 billion integrated project to develop 400MW of solar technology in the oil and gas exporting country, including facilities to manufacture solar panels for Oman and for export.
Citing an intensely competitive market environment, SMA Solar Technology, the leading PV inverter manufacturer, reported preliminary full-year financial results of €1.7 billion in sales for 2011. SMA Solar had previously cut €200 million from its previous forecast of €1.9 billion to €1.7 billion, with results therefore coming in at the lowered figure. SMA Solar reported 2010 sales of €1.9 billion. Earnings before interest and taxes (EBIT) were reported as being more than €240 million.
Thin-film solar cells manufacturer AQT Solar has received US$18.7 million from investors to double production at its headquarters in Sunnyvale, California, US. Details of the investors have not been disclosed.
A former vice president at Q-Cells, Matthias Altieri has joined UK-based merchant bank, ThomasLloyd Group to run its solar energy funding operations as managing director. The appointment was made at the beginning of December, 2011. In his new capacity, Mr Altieri will be responsible for sourcing new business both in the provision of technology and in the sourcing of new development opportunities.
Taiwan-based crystalline solar cell producer, Neo Solar Power (NSP) has reported December, 2011 revenue of approximately US$21.94 million (NT $663 million), down significantly from the previous quarter and year-on-year. Total revenue for 2011 reached approximately US$600.2 million, down from US$634.4 million in 2010.
Westinghouse Solar has been granted an equity investment from CBD Energy; a partnership that will also see the companies mutually explore a wider strategic relationship. The investment saw Westinghouse Solar issue common stock at a price of US$0.60 per share for gross proceeds of US$1,000,000.
PV inverter supplier, Satcon Technology is realigning its business operations and significantly cutting operating expenses to reach breakeven mid-year. Europe and Canada business efforts are being scaled back, which includes the closure of its manufacturing facility in Ontario, Canada and an overall headcount reduction of 140 worldwide, or approximately 35%. Satcon will also stop production of its Solstice product line.
Taiwan-based solar wafer producer, Green Energy Technology (GET) reported net sales for December 2011 of NT$880 million (US$29.05 million), down approximately 57%, compared to the same month in 2010. Total net sales for 2011 reached NT$18,615 million, (US$614.5 million) up 7.6% from 2010.
A highly anticipated deal expected since Total bought a majority share holding in SunPower earlier this year, should be completed in early 2012. SunPower is to acquire module manufacturer, Tenesol from Total for US$165.4 million in cash. Ownership of Total in SunPower will increase to 66% as part of the transaction. SunPower noted that the acquisition would positively affect its financial position in 2012.
