Financial & Legal

Suntech Power Holdings European subsidiary, Suntech Power International has gone to a court in its locality in Switzerland to stop bankruptcy proceedings.

Thin-film company Advanced Energy Industries has announced the acquisition of inverter manufacturer REFUsol Holding GmbH, effective immediately.

Shares in China’s troubled PV manufacturer Suntech rallied yesterday following unconfirmed rumours that US investor Warren Buffet is considering buying the company.

Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) have inked a R20 billion (US$2.2 billion) deal to fund renewable energy projects in South Africa.

Adding to its US$1 billion, five-year financing deal with JinkoSolar, China Development Bank (CDB) has signed a US$58 million loan agreement with the module manufacturer to fund PV power plant projects in China.

The China Banking Regulatory Commission (CBRC) has warned Chinese banks that the country's PV industry represents a credit risk, according to reports.

Bill Gates has given financial backing to the development of a new energy storage system aimed at cutting the intermittency of renewable energy technologies such as solar.

An aqueous-based silver nanoparticle ink technology developed in the last 10 years by chemicals giant Beyer has been acquired by high-tech chemicals specialist Clariant International.

Tawian-based polysilicon producer, Powertec Energy Corporation has signed a follow-on deal with GT Advanced Technologies to purchase polysilicon technology and equipment for a second-phase capacity expansion.

Unshackled from its polysilicon purchasing contract with MEMC and tight financial controls, Conergy expects a positive cash flow in 2013.