Markets & Finance

The African Development Bank Group (AfDB) has approved two loans, totaling €176 million (US$216 million) for the second phase of the Ouarzazate solar project in Morocco.

The impact of SolarMax parent company Sputnik Engineering’s insolvency has spread up the supply chain with German firm InTiCa facing a €2.5 million (US$3.1 million) hole in its 2014 figures.

GCL-Poly Energy Holdings, the largest polysilicon and wafer producer in the PV industry has confirmed the sale of its wafer production assets for approximately US$1.3 billion in cash.

Korean conglomerate, LG, has merged its Solar, Lighting and Energy Storage System (ESS) business units into a new ‘Energy Business Center’ in an effort to boost its competitiveness.

Sputnik Engineering, the parent company of Swiss inverter manufacturer Solarmax, will file for insolvency this week PV Tech has learned.

Germany’s amended renewable energy laws were granted state aid approval by Brussels on Tuesday, the final political hurdle to their adoption.

Module manufacturer REC Solar is to be liquidated and delisted following its recently announced sale to China’s Bluestar Elkem.

A member of Thailand’s National Reform Council is to propose to parliament a new energy law, national energy council and energy policy committee to promote solar energy in Thailand and to avoid social unrest.

Leading PV manufacturer, Yingli Green Energy has slashed full-year module shipment guidance that indicates almost zero shipment growth for 2014.

The US is well within reach of a goal of sourcing 10% of its electricity needs from solar within 15 years, according to a coalition of environmental groups in the US.