Having made a few leaps in the last six months alone with a TÜV safety certification in September, announced the production of its first 100MW thin-film modules and partnering with altPOWER for future US-based BIPV projects, executive management of Soltecture have applied to open insolvency proceedings. Having extensively explored new financing options, including rebranding and restructuring initiatives towards the end of last year, the company has stated it saw no other viable option for averting the company’s impending insolvency at the present time.
Westinghouse Solar and CBD Energy are hoping that the definitive merger agreement both companies signed this week will be completed by Q3 2012. Approvals from both companies’ board of directors have been received. Limited closing conditions and approval by both companies’ shareholders need to be finalized in order to complete the deal.
The former CEO of Scheuten Solar, Frans van den Heuvel, has been named CEO of UK-based Solarcentury. Van den Heuvel holds over 13 years of industry experience, previously working with ProxEnergy, a solar installation and smart-grid product development company. Van den Heuvel began his new role with Solarcentury on May 8.
MySolar, the new residential solar lease facility created by Clean Power Finance, MS Solar Solutions and Main Street Power Company, is being called the largest in the US. The program will provide funding for up to US$300 million in projects with Zions Energy Link being the first member of a syndicate of debt providers for the MySolar residential solar lease facility.
Kyocera Solar launched the Kyocera Solar Finance program, which aims to provide loan and lease options for customers looking to install light to mid-to-large commercial solar installations. The program is run in partnership with De Lage Landen Financial Services with Kyocera offering up to 100% financing for qualified borrowers.
Motech Americas, the US-based solar module business of Motech Industries, has selected Eric Kuo as its president. Kuo has over 15 years of global experience in branding, growing markets and driving revenue, with a background in international business and marketing. He comes to Motech from MSI Computer India where he served as managing director.
JinkoSolar will continue to sponsor Valencia Football Club for two more years following the signing of a new contract. Valencia recently finished third in Spain’s La Liga and will play in the European Champions League next year. JinkoSolar will remain the club’s main sponsor and the company’s logo will be featured on Valencia’s home and away shirts throughout the season.
Socialist François Hollande has been elected as President of France, bringing further concerns and hopes to the country’s already flagging solar industry. Dubbed “Mr Normal”, he has promised a 25% reduction in nuclear facilities by 2020, an investment in alternative energy generation and improving energy efficiency.
Registered professional engineer Doug Mutcher has joined Westwood Professional Services’ national solar energy group as an electrical engineering manager. Mutcher holds almost 20 years of experience in electrical engineering field work for the industrial, commercial, transportation, educational, corporate, medical, retail, manufacturing and process industries.
Declining prices whether on the spot market or long-term supply agreements are making business conditions very tough for polysilicon producers, regardless of their market size or purity of the material they produce. According to the latest financial results of Dow Corning, its JV subsidiary, Hemlock Semiconductor expects overcapacity in the sector to continue throughout 2012.
