Markets & Finance

Google and SolarReserve today announced completion of US$260 million in financing for one of Africa's largest solar projects.

The bankrupt main manufacturing subsidiary if Suntech Power Holdings is reported to have debts of over US$2.8 billion.

Struggling PV manufacturer SolarWorld will hold an extraordinary shareholders’ meeting on 11 July 2013 in Bonn, Germany, after the company revealed a 50% loss in capital stocks.

A majority of Centrosolar’s creditors have voted in favour of restructuring the struggling German PV manufacturer’s debts.

Canadian Solar has won a court case relating to an alleged breach of contract concerning its wafer supply contracts with LDK Solar.

Former management at PV Crystalox’s polysilicon plant in Germany are in talks with the company to acquire the shuttered plant.

Japan's Shinsei Bank has signed a project financing agreement with Japan Renewable Energy to provide a ¥10 billion (US$97 million) loan to fund the development of 40MW worth of PV projects.

Ernest Moniz has won bi-partisan approval from the US Senate to become president Barack Obama’s new energy secretary.

Applied Materials reported a surprise GAAP operating loss for its Energy and Environmental Solutions (EES) segment of US$322 million that included impairment charges of US$278 million. Non-GAAP operating loss was US$34 million.

Chinese solar manufacturer ReneSola has opened a new office in Newhavan, UK, to establish what it said would be a long-term presence in the country.