Another solar company has fallen prey to the weakened economy, and like its predecessors Solyndra and Abound Solar, won’t be going quietly into the Nevada night. A report by the Las Vegas Review Journal has noted that one year after opening its doors, Amonix closed its 214,000 square foot North Las Vegas manufacturing plant, which was subsidized by over US$20 million in federal tax credits and grants. Amonix supposedly began selling equipment, including automated tooling systems and robotic welding cells in an online auction Wednesday.
Solar modules supplier Worldwide Energy and Manufacturing USA has announced the resignation of the company’s director Michael O’Connor effective June 28, 2012, as well as the departure of Jeff Watson.
Concerns of Chinese retaliation against US countervailing and anti-dumping duties have manifested themselves in a complaint filed to the Chinese Ministry of Commerce. MOFCOM has today released a statement regarding an application requesting an anti-dumping investigation into US and South Korean exports to China. On behalf of the Chinese solar industry, Jiangsu Silicon Technology Development, LDK Solar, Luoyan Sino-Silicon high-tech and New Energy, filed the complaint on July 2. Interested parties have 20 days to respond to the complaint.
The Export-Import Bank of the United States has okayed two loans, totalling US$57.3 million, which will see the exportation of US-made solar panels and ancillary services to Solar Field Energy Two and Mahindra Surya Prakash in India.
Sunways’ management board approved the conclusion of, and entered into, an agreement with Deutsche Solar in order to resolve the early termination of two long-term contracts, originally concluded in 2006 and 2007, that provide for the supply of PV wafers by Deutsche Solar.
While talks continue with potential buyers of insolvent PV manufacturer, Q-Cells, Insolvency administrator Henning Schorisch will also potentially conduct a full restructuring of the company under administration. Q-Cells reported that its creditors met in Dessau-Rosslau to hear about the insolvency proceedings.
Effective August 27, 2012, the revised Italian feed-in tariff programme Conto Energia V has made the registration of all PV systems compulsory. EuPD Research claims this will induce an artificial limitation to the market as well as incur a supplementary cost of €3/kWh.
The US Energy Department’s (DOE) loan-guarantee is walking a fine line these days, which cannot make life any easier for 1366 Technologies and SoloPower as they prepare to receive funding from the same DOE guarantee that failed solar companies Solyndra and Abound Solar partook in. A report by Bloomberg noted that both 1366 Technologies and SoloPower qualified for guarantees last year and are currently working to meet milestone in order to gain access to the credit.
Earlier this year, SunSi Energies advised that it had signed a binding letter of intent to acquire a 51% controlling interest in TransPacific Energy. Today, the company revealed that it has increased its equity stake in TPE to nearly 45% and plans to gain the additional equity necessary to reach 51% by the end of the month.
Spanish Prime Minister Mariano Rajoy Brey has come to blows with a group of 11 international infrastructure funds, including those managed by HSBC and Deutsche Bank. The prime minister has pledged to Parliament to tax utilities in an attempt to raise sorely needed cash from renewable energy to curb €25 billion of debt. The financial institutions are threatening cutting investment and taking legal action if reforms are tougher on renewables than traditional energy sources, throwing further companies into bankruptcy.
