Thin-film solar cells manufacturer AQT Solar has received US$18.7 million from investors to double production at its headquarters in Sunnyvale, California, US. Details of the investors have not been disclosed.
A former vice president at Q-Cells, Matthias Altieri has joined UK-based merchant bank, ThomasLloyd Group to run its solar energy funding operations as managing director. The appointment was made at the beginning of December, 2011. In his new capacity, Mr Altieri will be responsible for sourcing new business both in the provision of technology and in the sourcing of new development opportunities.
Taiwan-based crystalline solar cell producer, Neo Solar Power (NSP) has reported December, 2011 revenue of approximately US$21.94 million (NT $663 million), down significantly from the previous quarter and year-on-year. Total revenue for 2011 reached approximately US$600.2 million, down from US$634.4 million in 2010.
India’s Prime Minister has appointed Anil Kakodkar as the new head of his government’s solar programme. Kakodkar, who is also a member of the Atomic Energy Commission (AEC) and previously led India’s nuclear programme, was unveiled as chairman of the recently launched Solar Energy Corporation of India (SECI) during Prime Minister Manmohan Singh’s speech at the Indian Science Congress.
Westinghouse Solar has been granted an equity investment from CBD Energy; a partnership that will also see the companies mutually explore a wider strategic relationship. The investment saw Westinghouse Solar issue common stock at a price of US$0.60 per share for gross proceeds of US$1,000,000.
PV inverter supplier, Satcon Technology is realigning its business operations and significantly cutting operating expenses to reach breakeven mid-year. Europe and Canada business efforts are being scaled back, which includes the closure of its manufacturing facility in Ontario, Canada and an overall headcount reduction of 140 worldwide, or approximately 35%. Satcon will also stop production of its Solstice product line.
New Energy Technologies advised that it had appointed Dr. Scott Hammond as principal scientist and Dr. Christopher Harris to its board of advisors. Both Hammond and Harris join New Energy from the US DOE’s National Renewable Energy Laboratory (NREL), which has been partnering with New Energy through a cooperative research and development agreement for the advancement of the company’s SolarWindow technology.
Taiwan-based solar wafer producer, Green Energy Technology (GET) reported net sales for December 2011 of NT$880 million (US$29.05 million), down approximately 57%, compared to the same month in 2010. Total net sales for 2011 reached NT$18,615 million, (US$614.5 million) up 7.6% from 2010.
A highly anticipated deal expected since Total bought a majority share holding in SunPower earlier this year, should be completed in early 2012. SunPower is to acquire module manufacturer, Tenesol from Total for US$165.4 million in cash. Ownership of Total in SunPower will increase to 66% as part of the transaction. SunPower noted that the acquisition would positively affect its financial position in 2012.
AU Optronics (AUO) has appointed Paul Peng as its new president. Peng will start his new role on January 1, 2012 and is replacing Dr. L. J. Chen, who will now serve as AUO’s president of solar business operation. AUO hopes that its management reshuffle will improve the competitiveness of its products and technologies and in turn profitability.
