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.
Echoing other PV manufacturers comments over weak demand for solar products in key markets such as Germany and Italy in the first-half of the year, Conergy announced after the German stock market had closed that it was retracting its 2011 fiscal year guidance of sales topping €1 billion. Conergy did not provide new guidance for 2011.
The US Department of Energy (DOE) has offered a conditional loan guarantee totalling US$1.2 billion to help build a 280MW Concentrating Solar Power (CSP) plant in southern California. If confirmed, the DOE guarantee will help fund the construction and start-up of Abengoa’s Mojave Solar Project (MSP), which is to be located around 100 miles northeast of Los Angeles in San Bernardino County.
In an attempt to close the gap between design and manufacturing new PV inverter technology, SMA Solar Technology is acquiring dtw Sp.z o.o., one of Poland's largest electromagnetic components manufacturers. SMA said that dtw had been a supplier to the inverter firm for 10 years. Financial details of the deal were not disclosed, though dtw was said to have annual revenue of €74 million. The transaction is subject to regulatory approval and scheduled to be completed in July 2011.
Several large sapphire furnace orders have helped GT Solar to almost double its equipment order backlog guidance from approximately US$1 billion to US$1.6 billion. However, technical upgrades offered to existing customers of DSS650 furnaces are tracking ahead of schedule, enabling GT Solar to raise revenue guidance for the current quarter to approximately, US$225 million, up from previous guidance of between US$140 million - US$150 million.
According to the United News of Bangladesh, top executives at the Asian Development Bank (ADB) have agreed to help finance a 500MW solar system, which will be built at locations throughout Bangladesh. The plan has officials proposing the 500MW solar system include solar irrigation pumps, solar rooftop installations in urban areas and mini solar grid plants in rural areas.
