MEMC has been forced to lower fourth quarter revenue guidance, just over a month after revisions were made as the company announced a major restructuring effort due to lower than expected PV project interconnections carried out by project developer subsidiary, SunEdison. MEMC revised revenue to be in the range of US$698 million to US$733 million, compared to December, 2011 guidance of between US$789 million to US$861 million.
Better than expected revenue figures have been reported by aleo solar, though previously guided losses of €25-€30 million are still expected for the full-year 2011, according to the company. aleo solar had previously guided revenue to be in the region of €440 million but this has been raised to €462 million, down 17% compared to 2010 revenue of €554 million.
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.
