Venture capital to the tune of US$350 million in 33 deals was handed out to solar-based firms in the third quarter of 2011, according to the latest roundup by Cleantech Group. Also of note was a reported US$812 million raised four China-based solar cell/module manufacturers via IPOs.
No surprises after announcing it was entering into Chapter 11 bankruptcy in the US, Evergreen Solar has been officially delisted from Nasdaq. Evergreen Solar stock was suspended from the exchange on August 24, 2011 and has not traded on NASDAQ since that time.
SkyPower has secured a CAD$67 million revolving credit facility from Deutsche Bank, to be used to support the ongoing development of SkyPower's portfolio of utility-scale solar projects in Ontario, Canada. The facility is a letter credit facility innovatively structured to leverage the benefits of Ontario's green energy program and feed-in tariff.
Citing the ongoing challenging market conditions, notably in its residential and commercial segments, SunPower will revise its revenue and earnings outlook for 2011. However, SunPower has a strong utility-scale project pipeline, especially within the US. The new 2011 guidance will be announced in a month, during its third quarter financial results, issued on November 3.
Trichlorosilane producer, SunSi Energies is attempting to join the NASDAQ Capital Market to fund further expansion of TCS production. The company recently noted that it expected revenue for 2012 to be between US$49-US$52 million, compared to US$15.1 million in revenue reported in fiscal 2011.
The US Department of Energy (DOE) advised that it had awarded a US$737 million loan guarantee to Tonopah Solar Energy for its 110MW Crescent Dunes Solar Energy Project. Sponsored by SolarReserve, the 100MW CSP solar power tower is said to be the first of its kind in the US and the tallest molten salt tower in the world. The project will be built on land leased from the Bureau of Land Management in Tonopah, Nevada.
In a move likely to expand the module manufacturer’s reach in Asian markets, Solaria Energía y Medio Ambiente has signed a cooperative agreement with Chengdu, China-based Dongfang Electric Corporation (DEC), and has secured a purchasing credit line worth US$30 million from DEC for the purchase of cells and project components.
SunEdison’s 53.5MW multi-site solar PV project in New Mexico looks set for completion by the end of this year, and has been buoyed by the news that it has secured financing of over US$200 millions from financier Wells Fargo. MEMC subsidiary company SunEdison has now activated three of the five power plants that together make up the 53.5MW total, and the remaining two plants are scheduled for completion before year’s end.
Two top executives of controversial thin-film PV company Solyndra won't be offering any substantive testimony before a Congressional subcommittee hearing scheduled for Friday. The company has issued a statement that, because of the ongoing investigation and on the advice of their lawyers, president/CEO Brian Harrison and CFO Bill Stover will invoke their constitutional Fifth Amendment rights, which protects citizens from self-incrimination.
Cleantech finance company De Lage Landen has finalized an agreement that will see the company’s Clean Technology Group team up with Tioga Energy to provide long-term financing for an 856kW solar project in Honolulu, Hawaii. Built for Oceanic Time Warner at its Mililani Tech Park, the project is a combination rooftop and solar parking canopy and is said to be the largest of its kind in the state of Hawaii.
