Markets & Finance

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.

Struggling LDK Solar has reported a net loss of US$1.05 billion in 2012, the starkest figure in an annual report containing volumes of negative financial figures.

SMA Solar Technology is continuing to tout the expectation that a dire PV market this year will lead to the company making further headcount reductions.

Major PV module manufacturer Trina Solar has lowered first quarter shipment guidance and expects gross margins to be as low as 1%.

The Greek government is to introduce retroactive cuts to the country’s feed-in tariff in a bid to reduce a deficit in the fund it uses for renewable energy.

PV projects in Thailand as well as strong demand in select European countries saw Conergy post its highest ever first quarter shipments.

First quarter 2013 new order intake at manufacturing equipment specialist Singulus Technologies may have been at a low level but sales in the quarter increased to €22.8 million.