Adept Technology has hired Robert Malley, Jr. to fill the position of vice president for global operations. He will be responsible for planning and managing all aspects of Adept’s worldwide operations in support of the company’s strategic objectives to deliver its robotics systems and services to enable its customers to achieve precision, quality and productivity in their assembly, handling and packaging processes.
juwi has issued a press release to celebrate its success of 2011 and to increase public participation to make the transfer to renewables from fossil fuels more manageable. Thanks to this, the German company has been able to expand its management structure in a financially difficult climate.
Dr. Jan Withag, chairman of Solar Millennium’s management board, announced his resignation from all his offices taking effect on March 8. His announcement comes a week after insolvency proceedings for Solar Millennium AG commenced, overseen by the local Court of Fürth.
Former CPV system manufacturer Energy Innovations will have its assets auctioned off by Heritage Global Partners as an Assignment for the Benefit of Creditors. The company was a Poway, California-based HCPV company until insolvency proceedings in the form of liquidation of assets were initiated by its creditors.
The recovery in solar cell shipments continued into February for Taiwan-based crystalline solar cell producer, Neo Solar Power (NSP). The company reported sales of approximately US$34.4 million, compared to US$22 million (NT$850 million) in January and up from NT$663 million in December, 2011 when sales hit a two-year record low.
Impairment charges due to price declines and expected challenging market conditions in 2012 weighed on Q-Cells' preliminary fourth-quarter and full-year results. The company reported a fourth-quarter EBIT loss of approximately €355 million and a full-year 2011 loss of €846 million. Fourth-quarter revenue was €353 million, up significantly from €299 million in the third quarter. Revenue for the year reached €1,023 million.
The US arm of Martifer Solar has received funding totalling US$3 million from the New York State Energy Research and Development Authority (NYSERDA) as part of the Authority’s Solar Electric Incentive Program. The funds are designed to offset system installation costs in New York State as part of the renewable energy portfolio standards in New York City and Westchester regions. NYSERDA was said to have allocated a total of US$30 million in grant money to eligible solar contractors through a highly competitive grant process.
PV inverter market leader, SMA Solar Technology, has provided 2012 guidance that has sent shockwaves through the investment community as revenue and margins are expected to take a significant nosedive. Management said in a statement that 2012 sales would be between €1.2 billion and €1.5 billion, while EBIT margin would be between 5-10%. SMA Solar reported preliminary 2011, full-year financial results in January of €1.7 billion in sales and EBIT of more than €240 million. The mid-point of the guidance, which the company had previously declined to provide due to uncertainty in the market, will represent over a 20% decline in revenues and a 60% fall in EBIT.
Previously announced in February, the French government has confirmed PV power plants will be eligible to receive a 10% bonus on top of the feed-in tariff if at least 60% of the installation’s modules are made in Europe. The law will come into effect shortly before the first round of presidential elections in April.
Microsol International, a UAE based module manufacturer has agreed to acquire the majority of operations of insolvent Solon that could secure most of the 471 jobs at the firm. Insolvency administrator, Ruediger Wienberg announced the deal on the March 1, as insolvency proceedings started. Solon had filed for insolvency in the German courts on December 13, 2011. Financial details of the deal were not disclosed or whether Microsol would be responsible for Solon’s debts or whether the acquisition was primarily asset-based.
