OPEL Technologies released its financial statements for both Q4 2011 and the full 2011 fiscal year. The company confirmed that its revenue for Q4 was US$1.05 million while its annual revenue amounted to US$5.9 million. Both its quarterly and yearly revenues surpassed the amounts posted the year before by US$4.2 million in annual revenue and US$678,806 in quarterly revenue.
SolarCity advised that it is planning to organise a registered initial public offering of its common stock. The company anticipates beginning the offering after the SEC completes the review process initiated by SolarCity’s confidential submission on April 26 of its draft registration statement.
NPD Solarbuzz has announced the promotion of Finlay Colville, Ph.D. to vice president and the appointment of Wolfgang Schlichting as research director, Downstream Markets.
Delayed fourth quarter and full-year results at LDK Solar show the full extent of the challenges facing the integrated PV manufacturer. Having already revised downwards its fourth quarter figures, the company missed revenue guidance and guided first quarter revenue to levels not seen since the second quarter of 2009. Loss from operations for the fourth quarter of fiscal 2011 was US$531.4 million on the back of heavy write downs across the company, leading to a net loss of US$588.7 million. Revenue reached US$2.15 billion in 2011, compared to US$2.5 billion in 2010.
Meyer Burger Technology advised that it had raised US$121.3 (CHF110 million) in long-term capital through a Swiss Franc dominated straight bond issuance. The bond holds a coupon of 5% payable annually and maturity date of May 24, 2017. Zürcher Kantonalbank, Credit Suisse and UBS Investment Bank collectively offered the bond issue to institutional and private investors.
As Phase 1 of India’s National Solar Mission reaches half way, India stops to take stock of its progress with an independent report conducted by the National Resources Defence Council (NRDC) and the Council on Energy, Environment and Water (CEEQ). The report has been drawn from extensive discussions with stakeholders and research and analysis of national, state and international programs, with the aim of aiding the government in overcoming obstacles to achieving the Mission’s goal of 20GW by 2022.
Citing high energy bills as a result of the colossal cost of importing electricity, the Jamaica Energy Council assembled on April 20 to discuss the implementation of an energy policy, reported the Jamaica Information Service. The focus of the council, comprised of bi-partisan and stakeholder members and chaired by the minister of Science, Technology, Energy and Mining, Phillip Paulwell, alongside opposition energy spokesman, Gregory Mair, set the agenda with renewable and indigenous energy source development for energy security, energy conservation and efficiency as well as opportunities to achieve and sustain price competitiveness as the priority.
Hanwha SolarOne has acquired a three-year US$180 million syndicated term loan facility led by The Korea Development Bank, Standard Chartered Bank (Hong Kong), KEB Hong Kong Branch, KDB Asia and KEB Asia Finance. The loans will be denominated in US dollar and will be guaranteed by Hanwha Chemical Corporation.
Poor demand for silver paste, primarily used in solar cell production, was highlighted by Ferro management as a key reason for lower quarterly earnings at Ferro Corporation. The company reported net sales of US$466 million for the three-month period ended March 31, 2012, compared with net sales of US$573 million in the first quarter of 2011.
Yesterday, at Hannover Messe, Germany, Phono Solar and SYBAC solar signed a five-year purchase agreement for €300 million, which equates to an output of 500MW. Last month, Phono Solar, a monocrystalline and polycrystalline silicon solar modules manufacturer, passed TÜV Rheinland’s ammonia corrosion test.
