The US Government-sponsored banks that have helped fund the takeoff of India’s fledgling solar industry may soon move to withdraw their support, according to an official at the Overseas Private Investment Corporation (OPIC).
PVA TePla, a manufacturer of crystallization systems for semiconductor and solar silicon as well as vacuum and high-temperature systems, generated sales revenues of €77.3 million in the first nine months of 2011 (previous year: €95.0 million). With a margin of 9.8% (previous year: 10.3%), operating profit (EBIT) totalled €7.6 million (previous year: €9.7 million).
Skyline Solar has scored two major goals with its announcement that its LCPV Skyline Solar X14 System has been listed by the California Energy Commission (CEC) followed with the news that Firsthand Technology Value Fund made a direct investment in the company.
aleo solar has posted revenues of €344.6 million for the first nine months of 2011, a 16.4% decrease on 2010’s corresponding figure. The Prenzlau-based module manufacturer is the latest PV company to feel the pinch from the solar industry’s global downturn, which has hit module prices particularly hard.
Upon the reveal of its financial results for the third quarter 2011, Satcon Technology advised that while its US$45 million in revenue was in line with it previously announced guidance, its revenues quarter-over-quarter remained flat when compared to Q2 2011’s US$45.5 million. The company reported that gross margin for the quarter was 12%, up from 8% in Q2, with the incremental improvement attributed to Satcon’s cost reduction programs and the expansion of its 1.25MW Prism Platform solution.
As more companies step forward to voice opinions regarding the petition filed with the US government by SolarWorld, the Coalition for Affordable Solar Energy (CASE) found support from 25 organizations as it announced its official founding. Aimed as a response to the anti-trade action SolarWorld is petitioning, CASE argues that the progression of such a petition would inhibit the growth and sustainability of the US solar market.
The US’s Export-Import Bank has awarded loans totalling US$103.2 million to two Indian companies to help finance planned projects in Gujarat and Rajasthan. The recipients, Dahanu Solar Power and Tatith Energies, will use the funds to pay for panels and engineering services from US companies First Solar, SolarWorld and American Capital Energy.
China Sunergy and REC Wafer have spent the last few years to-ing and fro-ing between courts in Norway and China in the hope of reaching a settlement over the termination of a supply contract by REC Wafer.
Though a pick-up in demand was seen late in the third quarter, weak demand, pricing pressure and inventory build have impacted China Sunergy. Revised guidance puts module shipments down by as much as 55MW compared to previous guidance, while gross margins are expected to be negative to the tune of around 14%.
Capacity expansions are out, improving manufacturing line efficiencies and productivity is in, according to First Solar’s chairman Michael Ahearn, who took over the CEO role from ousted Rob Gillete last week. Capacity expansions had seen average module efficiencies rates increase modestly in 2011; on the downside, production cost per watt merely flat-lined. Almost unheard of was the fact that manufacturing line utilization rates had dipped below 100% as capacity outstripped demand. Back at the helm, Ahearn said that First Solar would re-focus on markets without energy subsidies such as the Middle East as well as markets with critical energy needs such as India, North Africa and China.
