Following his defeat to be premier of North Rhine-Westphalia on Sunday by the Social Democrats (SPD), Norbert Roettgen, once seen as a potential successor to Chancellor Angela Merkel, was fired by Merkel today from his position as her environment minister. Reuters reported that Merkel has nominated Peter Altmaier, parliamentary whip for her conservative party, to replace Roettgen.
The UK Solar Trade Association (STA) has called for a delay to planned feed-in tariff cuts in a bid to boost installed capacity figures. In a letter to the Department of Energy and Climate Change (DECC) the association asks for the proposed July cuts to be held off until figures pick up.
According to a report released by Bloomberg New Energy Finance, the price of polysilicon continued its downward march, dropping by 2.6% last week. The material’s average spot prices were US$23.17/kg last week, compared to US$23.78 the week before. The report further advised that the price is down around 15% this year.
In February, EuPD Research awarded Germany-based Sovello the TOP BRAND PV seal; this week, the module manufacturer announced it has filed for insolvency in self-administration at the district court in Dessau. This very same court handled proceedings for Q-Cells last month and CIGS thin-film firm Odersun. The dramatic reduction in government subsidies and competition from Chinese manufacturers are being blamed for the moves by German companies that are unable to pay their mounting debts.
Italy could alter its subsidy cuts deadline from July 1 to October 1, reports Deutsche Bank. At a technical meeting of state regions conference last week, former undersecretary of industrial activity, Stefano Saglia, announced the current Conto Energia 4 would remain in place until the €7 billion limit were reached if this change was to occur.
S.A.G. Solarstrom has announced a significant increase in sales volume with a positive EBIT. The company closed the first quarter of 2012 with sales of €21.4 million (Q1 2011: €78.9 million) and an EBIT of -€2.8 million (Q1 2011: €5.1 million), claiming these results are in line with its schedule for 2012. The company states that in the previous year’s quarter, sales and EBIT had been influenced to a very great extent by the large-scale Serenissima project.
Bloomberg is reporting that Conergy stock rose to its highest point since February following a report from the Financial Times Deutschland. The paper stated that the company was near ready to sell a 30% stake of Conergy to an undisclosed Chinese buyer. Bloomberg noted that company stocks rose as much as 16% to €0.57 per share.
The German Federal Council has determined that that the bill earlier adopted by the German Parliament for the reduction of solar subsidies will be going to a mediation committee, which will allow for the federal and state governments to negotiate finding a comprise. If the members do not find a resolution, the Federal Council has the ability to file an appeal against the bill, which could override Parliament’s decision with an absolute majority vote.
PV manufacturer PVA TePla AG has announced it has generated sales revenues of €31.0 million in the first quarter of 2012 (previous year: €23.1 million), its EBIT amounted to €2.9 million (previous year: €1.8 million).
Having made a few leaps in the last six months alone with a TÜV safety certification in September, announced the production of its first 100MW thin-film modules and partnering with altPOWER for future US-based BIPV projects, executive management of Soltecture have applied to open insolvency proceedings. Having extensively explored new financing options, including rebranding and restructuring initiatives towards the end of last year, the company has stated it saw no other viable option for averting the company’s impending insolvency at the present time.
