Just one small euro million below the half-billion euro mark was reported by Fronius for revenue in 2010. The Austrian inverter manufacturer grew sales by 52%, compared with the previous year. Although sales in the PV inverter segment were not given separately, 2010 was characterised as a record year for inverter sales by market research firms.
Building upon its success with its 20MW Starwood SSM1, completed in October 2010, and the 30MW Starwood SSM2, expected to be completed during 2011’s third quarter, Starwood Energy Group Global has finalized the financing for the final 10MW of its Starwood SSM3 solar project. The combined 60MW project in Sault Ste. Marie, Ontario is contracted under the Renewable Energy Standard Offer Program with its development overseen by the Ontario Power Authority. The project will be connected to the local PUC Distribution grid and is said to be the second largest solar project in North America.
Semprius has secured US$20 million in its first tranche of Series C venture fundraising for a pilot high-concentration photovoltaic (HCPV) module production plant. Siemens Venture Capital led the investment round and was joined by Arch Venture Partners, Applied Ventures, Illinois Ventures, Intersouth Partners, In-Q-Tel and GVC Investment.
Leading French renewable energy producer Fonroche Energie has secured a €52-million credit line with a banking syndicate led by Credit Agricole. This finance will help Fonroche to increase its green portfolio, an expansion plan highlighted by the construction of 20MW of solar greenhouses in France.
A major reshuffling of executive positions has been made at Hanwha SolarOne, which said the move was designed to strengthen the management team as it continued to build-out the company to become a major player within the solar industry. Stepping aside is Dr. Peter Xie, CEO and Gareth Kung, CFO, both former Solarfun executives, who are being replaced by Hanwha Group executives, Ki-Joon Hong and Jung Pyo Seo, respectively. Hong is currently the chairman of the Board of SolarOne and CEO of Hanwha Chemical Corporation, which acquired a majority stake in the former Solarfun.
Transphorm has completed the latest round of financing for the development of its Galiium Nitride GaN power conversion module. Quantum Strategic Partners, Kleiner Perkins Caufield and Byers, Google Ventures, Foundation Capital and Lux Capital were the investors behind the US$25 million Series D financing round, which takes the total capital raised to US$63 million.
SunSi Energies advised that it has continued moving forward with plans to raise capital in order to fund future company expansions and acquisitions. The past three months have seen the company gather around US$5 million through cash received from equity sales of US$635,000, common stock subscription commitments of US$1,750,000 and the conversion of US$2.7 million in redeemable stock to common equity by its 40% equity partner, Wendeng facility.
CleanPath has revealed that its plans to invest US$800 million towards the development of 1,000MW of large-scale solar PV projects in North America over the next five years. The company will manage two revolving facilities in its investment by targeting large-scale solar projects that range in size from 5MW to over 100MW.
Borrego Solar Systems has closed its latest investment fund to help finance and install a number of new PV projects across the US. East West Bank and US Bank are partnering Borrego on the fund, which will take the company’s solar PPA portfolio past the US$100 million mark.
Siemens has acquired a minority stake in US company Semprius for an undisclosed sum. The purchase of the approximately 16% share will see Siemens assist Semprius’s HCPV technology development and provide Siemens with an insight into a new CO2-free power generation technology that is nearing market maturity.
