Markets & Finance

As expected, Sunways said that preliminary insolvency proceedings against the assets of the company by its banks have been stopped and the local court in Konstanz has closed the case.

The strategy to diversify its business away from dependence on sectors such as solar is proving to be a significant success for equipment supplier, Manz AG.

Renewable Energy Corporation (REC) has announced its new US$110 million convertible bond offer was oversubscribed and is now closed.

Although the downstream market shift from East to West is resulting in higher growth rates for PV engineering, procurement and construction (EPC) firms in Asia, leading PV energy provider (PVEP), First Solar continues to top the EPC rankings with more single projects primarily in the US, compared to its rivals, according to IHS.

Sol Systems has expanded its Washington DC base with five new recruits, and intends to continue with future recruitment growth in coming months.

Renewable Energy Corporation (REC) has announced a new US$110 million convertible bond offer and a partial repurchase offer of existing bonds as it looks to appease investors.

Seven private companies and one public joint venture have received a letter of intent for 230MW of solar projects in Uttar Pradesh.

According to NPD Solarbuzz, second quarter 2013 PV module shipments for the top 20 suppliers exceeded 5.8GW. The rise was led by Yingli Green Energy which saw shipments estimated to exceed 800MW and over 1GW for the first-half of the year, a new record for any PV module manufacturer.

German investment firm Wattner has purchased ten solar power plants with a total capacity of 48MW.

The former LDK subsidiary LDK Hefei is to be sold by the local Chinese government affiliate that purchased it earlier this year.