Updated: A severe cost-cutting exercise and manufacturing realignment is underway at First Solar as it plans to axe around 30% of its workforce, permanently close its German manufacturing operations and idle four lines at its facilities in Malaysia. Management blamed the move on the market conditions in Europe and the rapidly changing market demand dynamics within the industry for the restructuring.
The Hindu Business Line has reported that power equipment manufacturer Bharat Heavy Electricals (BHEL) has made almost a US$4 million (Rs 20 crore) investment into the expansion of its PV module manufacturing division, escalating its line from a 8MW capacity to a 26MW capacity. The increase is expected to be completed by September.
In a joint venture, NYSE Euronext and research company Bloomberg New Energy Finance (BNEF) have developed three new sector indices covering solar and wind energy as well as energy smart technologies (EST). Each index is produced using the different global stock market values of 70–200 industry companies, and a minimum threshold exposure to applicable renewable energy sectors is also calculated.
Bidding for the real estate, patents and facility inventory of failed Dutch thin-film PV cell manufacturer Nuon Helianthos BV, will begin on April 16. The company announced that the pilot plant, located in Arnhem, would be closed last year after failing to reach commercial production due to lack of investment.
Big funding deals maybe a thing of the past but overall VC funding deals remain at record levels, according to the latest quarterly report of solar VC funding activity by Mercom Capital Group. Citing a slow start to 2012, VC funding in the first quarter of 2012 reached only US$329 million the lowest dollar amount recorded since Q4 2010. However, 34 deals were reported, suggesting VC’s are taking a lower risk approach to the sector, according to the report authors.
A subsidiary of MX Group, Solarday has gone into liquidation, according to a brief statement on its website. The company had opened it module assembly plant in Mezzago, Brianza, Italy in 2006 and had employed over 100 people, claiming it had achieved turnover in 2009 of over €60 million. MX Group had acquired a majority ownership of Solarday in 2011.
The research team at Helmholz-Zentrum, Berlin, Germany, published last month that Beneq produced positive results on the performance of its thin-film PV solar cells manufactured with TCO-glass (transparent conductive oxide). Produced by Beneq nAERO technology, the results show that nAERO-coated TCO glass is a definite candidate for cell manufacturers in need of high-quality fluorine-doped tin oxide (FTO) TCO glass at an affordable price.
Suniva revealed that its ARTisun Select series of solar cells are averaging 19% efficiency in plant-wide production. The new cell efficiencies are available to cell customers and have been incorporated into the company’s Optimus modules. Suniva additionally noted that it has refined the aesthetic specifications for the cells, including a narrower color band, which is said to have created a more cosmetically uniform module.
Eyelit has completed tallying its financial results for Q4 and the full year 2011. The company did not release specific numbers, but advised that it had completed a record high in Q4 revenue with new customer sales doubling in 2011, over numbers in 2010. Eyelit noted that 50% of its new customers are large multinational corporations with revenues topping US$1 billion.
Solar Frontier supplied approximately 29,400 CIS thin-film modules to a 3.8MW Public Service Electric and Gas Company (PSE&G) installation in Burlington County, New Jersey. Mill Creek Solar Farm is part of PSE&G’s Solar 4 All scheme, aimed at adding 80MW solar electric generation capacity to the company’s capabilities by the end of 2012. Mill Creek Solar Farm was designed, developed and built by juwi solar.
