Total sales from Panasonic’s new subsidiary, Sanyo were down 19% to 669.3 billion yen, compared with 829.7 billion yen in the same period a year ago. Though the company did not provide disclosure of Sanyo solar PV business separately, Panasonic did say that sales were stable in the quarter. Sanyo had previously not disclosed PV sales separately.
China-based integrated manufacturer of solar photovoltaic products, CNPV Solar Power, announced the appointment of Ponsekar Periyanadar as Vice President sales and marketing for South Asia.
The Bundesnetzagentur, Germany's Federal Network Agency, will cut the country's solar feed-in tariff (FiT) by 15% in 2012. The subsidy reduction is more severe than the 12% forecasted by many industry insiders and was triggered by the 5.2GW of new capacity installed between October 2010 and September 2011.
Motech Industries released its Q3 2011 financial results, which saw the company’s revenue grow 17% over Q2 2011 results to US$251.83 million. Additionally, the company’s net losses went down to US$19 million, from the second quarter’s US$21.47 million.
Responding to capacity expansion push-outs and cancellations at solar wafer manufacturing customers, Meyer Burger Technology has set in motion temporary adjustments to equipment production at its subsidiary, MB Wafertec. However, Meyer Burger reiterated that its 2011 net sales and earnings remained on target.
Strong quarterly shipments failed to offer respite from a rapid decline in revenue and profit margins within OCI Chemicals, polysilicon production division in the third quarter of 2011. Revenue in its polysilicon segment fell from KRW572 billion in Q2 to KRW495 billion in Q3. Margins fell from 50% in Q2 to 36% in Q3, according to the company.
Citing some customer cutbacks in solar module manufacturing production levels and continued pressure on wafer prices that have declined more than 50% since April this year, PV Crystalox Solar is taking drastic measures to reduce cash burn in difficult times for the global PV industry. The company guided a significant reduction in wafer shipments, compared to previous forecasts, job losses and short time working.
It was recently revealed that Solyndra’s surplus assets will be auctioned off through a global webcast and in person auction by Heritage Global Partners beginning Wednesday, November 2 through Thursday November 3.
Solar energy is fast becoming a ‘sunrise’ sector in India and it has started attracting considerable interest from financial investors as well as cross-border partnerships.
A 25-year veteran in the business and financial business sectors, Bob Kelly has joined SolarCity as the company’s new chief financial officer. In his new role, Kelly will oversee the company’s financial affairs as well as its corporate, project financing and accounting units.
