PV inverter specialist, Power-One reported fourth quarter revenue of US$192 million, within revised guidance but sales declined 32% in Europe, forcing the company to adjust production to demand with the planned loss of 300 jobs.
Solar module sales at Kyocera are expected to increase significantly in the first quarter of 2013, boosted by a rush to install systems before expected feed-in tariff reductions are introduced at the beginning of April.
In an rather incestuous deal and conformation that consolidation along with capitulation is occurring in the Chinese PV market, tier 2 PV manufacturer, Goldpoly New Energy Holding has acquired China Merchants New Energy (CMNEG) in a deal valued at HK$2.12 billion (US$273 million).
Weaker than expected demand in key markets of Italy and Germany in the fourth quarter has led PV inverter supplier Power-One to lower revenue guidance to between US$190 million to US$195 million, down from a range of US$210 million to US$230 million.
The dire business conditions within the solar wafering sector have forced slurry recycling specialist, SiC Processing to warn of over a €100 million in equity losses, or more than half the equity in the company as it deals with insolvency proceedings.
US solar developer Sungevity has announced the completion of a series of venture capital and project financings which, together, have secured the company up to $125 million in funding.
A 5MW solar farm in Pennsylvania has been acquired by an affiliate of D. E. Shaw Renewable Investments and project manager Bright Plain Renewable Energy.
Slurry recycling specialist, SiC Processing which is currently in receivership, has warned unsecured creditors to expect low debt recovery due to a preliminary, unaudited assessment of its assets.
