On August 23, workers from Siliken’s centre in Rafelbunyol, Valencia, Spain, are today protesting after the solar company presented an ERE (Expediente de Regulación de Empleo) — a Spanish administrative redundancy procedure which employers must comply with — to 100 employees, the CCOO Industry Federation has revealed.
With a debt of ¥1.25 trillion (US$16 billion), Japanese electronics manufacturer Sharp Corporation has been feeling the weight on its shoulders and will submit an asset report to its banks next month in order to identify any flagging businesses it could sell to raise some finance, Reuters revealed.
Cambridge University spin-off Eight19 has revealed the launch of Azuri Technologies Limited, which will be used to develop the company’s Indigo ‘pay-as-you-go’ solar technology for off-grid markets.
Non-governmental organization (NGO), the Centre for Science and Environment (CSE), is accusing US thin-film manufacturers of using a loop hole in the Indian government’s renewable energy scheme to “ruin the Indian domestic PV industry”. Jawaharlal Nehru National Solar Mission (JNNSM) initiative mandates a domestic content requirement, however, only for crystalline PV and not for thin-film.
Management at Applied Materials spent little time discussing the performance of its Energy and Environmental Solutions (EES) division results, which houses the majority of its solar sector equipment and services to the PV industry. The company reported EES sales in its financial third quarter that were almost flat with the previous quarter at US$77 million. However, new orders decreased significantly to only US$35 million, compared to US$62 million in the prior quarter.
A report by Bloomberg has brought Solyndra back into the spotlight. The now defunct company reached a US$3.5 million settlement with former workers who filed suit against Solyndra, alleging that they had not received adequate layoff notices. The settlement resolves the issue that the company did not give employees 60 days’ notice under the Workers Adjustment and Retraining Notification Act when it fired most of its workforce on August 31, 2011.
Singulus Technologies reported sales of €43.6 million for the first six months of the year, down from €64.6 million in the same period of 2011. Solar segment equipment sales were 27.5% of revenue in the first half of 2012, or approximately €12 million, down from 33.1% of sales in the prior-year period.
To avoid further drains on its battered balance-sheet, REC said it would start winding-up REC Wafer Norway via bankruptcy proceedings. The solar wafer operations at two sites in Glomfjord and at Herøya have already been permanently closed down. The bankruptcy of REC Wafer Norway was said to not have an effect on REC Solar and REC Silicon operations, which continue to operate as normal.
Still in a restructuring and refinancing phase, designed to make the company more flexible and operate sustainably during dynamic changes in the solar industry, systems integrator, Phoenix Solar reported sales for the second quarter of 2012 as €46.5 million. This constitutes a 57.1% decline when compared to the same period a year ago. The company made a loss of €13.0 million, though refinancing of over €100 million was secured to enable the company to restructure.
Despite a 13% increase in sales for its fiscal third quarter, specialist PV equipment supplier, Amtech Systems has implemented new cost cutting measure to tackle the downturn that has proved to longer and deeper than expected. The cost reductions include voluntary salary reductions by management ranging from 10 to 20% and salary reductions of other corporate staff.
