Reporting on its third-quarter financial results, Spire has revealed that it is responding to a 57% reduction in operating revenues by turning its efforts to bolstering its EPC integration activities. Revenue for the quarter reached US$8.9 million, less than half the US$20.6 million figure for the same quarter in 2010.
Germany’s largest module manufacturer, SolarWorld reported weakening financial conditions in the third quarter. Shipments and revenue remained flat with the second quarter but margins declined as weak demand and declining prices impacted results. SolarWorld guided sales above €1 billion for the full-year but below €1.3 billion reported in 2010. Finished goods inventory levels have increased sequentially for 5 quarters, while total inventories reached close to €500 million.
The US Government-sponsored banks that have helped fund the takeoff of India’s fledgling solar industry may soon move to withdraw their support, according to an official at the Overseas Private Investment Corporation (OPIC).
PVA TePla, a manufacturer of crystallization systems for semiconductor and solar silicon as well as vacuum and high-temperature systems, generated sales revenues of €77.3 million in the first nine months of 2011 (previous year: €95.0 million). With a margin of 9.8% (previous year: 10.3%), operating profit (EBIT) totalled €7.6 million (previous year: €9.7 million).
Skyline Solar has scored two major goals with its announcement that its LCPV Skyline Solar X14 System has been listed by the California Energy Commission (CEC) followed with the news that Firsthand Technology Value Fund made a direct investment in the company.
aleo solar has posted revenues of €344.6 million for the first nine months of 2011, a 16.4% decrease on 2010’s corresponding figure. The Prenzlau-based module manufacturer is the latest PV company to feel the pinch from the solar industry’s global downturn, which has hit module prices particularly hard.
Upon the reveal of its financial results for the third quarter 2011, Satcon Technology advised that while its US$45 million in revenue was in line with it previously announced guidance, its revenues quarter-over-quarter remained flat when compared to Q2 2011’s US$45.5 million. The company reported that gross margin for the quarter was 12%, up from 8% in Q2, with the incremental improvement attributed to Satcon’s cost reduction programs and the expansion of its 1.25MW Prism Platform solution.
China Sunergy (CSUN) revealed that, effective since September 15, Robert Rice was appointed as the company’s chief sales, marketing and strategy officer as well as its vice president. Rice manages corporate international expansion and sales and marketing functions for the company in order to expand CSUN’s global market presence. Rice will additionally spearhead the establishment of long-term industry partnerships and the recruitment of a global sales team.
As more companies step forward to voice opinions regarding the petition filed with the US government by SolarWorld, the Coalition for Affordable Solar Energy (CASE) found support from 25 organizations as it announced its official founding. Aimed as a response to the anti-trade action SolarWorld is petitioning, CASE argues that the progression of such a petition would inhibit the growth and sustainability of the US solar market.
The Gujarat Electricity Regulatory Commission (GERC) has proposed the new feed-in tariff (FiT) rates for PV projects commissioned from January 29, 2012 until March 31, 2015. These new rates range from INR10.27 (US$0.21) to INR13.14 per kWh (US$0.268) and are applicable for ground-mounted, rooftop and concentrating solar power (CSP) systems.
