Australian Capital Territory is launching a new incentive scheme to promote large-scale solar in the state. It is Australia’s first scheme targeting larger systems and aims to help install projects totalling up to 210MW.
Upon expiry of a recent five-year contract, long-standing employee and current CFO, Sabine Kauper will leave Phoenix Solar at the end of the year. Her replacement, Dr. Bernd Köhler comes from Siemens and will assume responsibility for finance, along with Personnel and Organisation Development, International Process and IT Management, Internal Audit and Law from January 1, 2012.
As Douglas May, former CEO of Unirac, retired at the end of October, the company had been in search of a new executive and they have found a new leader in Peter Lorenz. The new CEO joins Unirac after serving as president of Quanta Services’ Renewable Energy Services unit. Prior to his role with Quanta, Lorenz worked seven years with McKinsey & Company as an associate principal and specialized in finance assignments with Royal Dutch Shell from 1996 to 1999.
ForVEI investment company revealed that it had bought two solar PV facilities developed by the OPDE Group amounting to a total of 7.93MW. The €33 million (US$45 million) project was financed by Intesa Sanpaolo with the power plants located in the Italian Piedmont region. Both solar farms are fully operational with the 6.19MW Tortona project and the 1.74MW Predosa installation utilizing Trina Solar and Canadian Solar modules, SMA inverters and Mecasolar single-axis solar trackers.
Having stopped all production at various plants to preserve cash and help draw down inventory, Energy Conversion Devices (ECD) posted a net loss from continuing operations of US$57.5 million, which includes a non-cash impairment charge of US$34.3 million for its financial Q1 results. Revenue was reported at US$22.0 million, which compares to US$65.3 million in the first quarter of fiscal year 2011, and US$70.5 million in the fourth quarter of fiscal year 2011. ECD previously cancelled its conference call and refrained from providing information on whether a call would be organised.
Rapidly declining prices for wafers and modules due to overcapacity and weak demand have significantly impacted expected third-quarter results at LDK Solar. The integrated PV manufacturer warned that it expected to write down US$45 to US$50 million of inventories and expected to report negative gross margin between 3.5% and 5.0%. The company lowered revenue guidance to be in the range of US$460–$470 million, down from previous guidance of US$630–$680 million.
Collaboration has turned to acquisition as equipment specialist Manz is to acquire Würth Solar's CIGS thin-film production line in Schwäbisch Hall, Germany. The deal will include the purchase of all technology IP from the Centre for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW), Würth Solar’s orginal technology partner on CIGS processes. The takeover should be concluded by early 2012 with a total of 116 Würth Solar employees being integrated into Manz as part of the acquisition.
Solarbuzz’s new European PV Markets Quarterly predicts that 2011’s fourth quarter will see a quarter-over-quarter rise of 22% in the EU PV market, but 2012 will still be a tough year to navigate. Solarbuzz noted that downstream companies would need to be able to manage a new pricing environment in the midst of flailing incentives and grid parity economics.
The US Department of Energy’s National Renewable Energy Laboratory (NREL) announced that Dr. Gregory Wilson had been appointed director of the National Center for Photovoltaics (NCPV) effective November 28. Wilson joins NCPV after serving 17 years at MEMC as a leader for its silicon research and PV development. He most recently acted as MEMC’s director for corporate business development and external technology development.
Continuous pressure on pricing as demand remains weak has further impacted PV product sales and profits at Sunways. Consolidated sales declined by €35.0 million to €23.3 million, compared to the same quarter a year ago when sales reached €58.3 million. Lower cell manufacturing utilization, inventory write-downs on falling ASPs meant Sunways reported losses € 6.3 million an a negative operating result (EBIT) of €11.8 million in the third quarter.
