Volker Böhm, insolvency administrator of the bankrupt Solar Millennium in Erlangen, has sold PV Power Holding shares to Bavaria-based Schoeller Renewables. Solar Millennium held 50% in PV Power Holding, a developer of PV projects in Italy.
Tough market conditions for Hanwha SolarOne led to fourth quarter losses and sliding shipments and average selling prices, which were below in-house manufacturing costs. Although the company posted 2011 revenue above the US$1.0 billion level, the company reported a net loss of US$169.8 million. PV module shipments were 189.1MW, in the fourth quarter, a decrease of 5.9% from 200.9MW in prior quarter. Module shipments for 2011 reached 844.4MW, representing an increase of 5.8% from 797.9MW in 2010. Hanwha SolarOne guided 2012 shipments to be in the range of 1GW.
AEG Power Solutions, part of parent company 3W Power, has updated its guidance for its financial performance for 2012. The company, which is currently the subject of a friendly takeover bid by Andrem Power, which is itself wholly owned by Nordic Capital Fund VII, expects its revenue to grow to between €430 and €460 million from €428 million in 2011. However, profitability margins are expected to fall as a result of economic factors.
In keeping with its 20% increase in turnover for 2011 and to boost its international presence, DEGERenergie has recruited Florian Falk Naumann as county manager for Australia. DEGERenergie is expecting its MLD technology to flourish in the Australian climate under the government's “Clean Energy Future” scheme.
Diversification in both business segments and on a regional basis proved successful for Portugal-based Martifer Solar which said its revenue increased 33% to €293.2 million in 2011. Unlike some of its rivals, the company also posted positive EBITDA of €20.1 million and a net profit of €9.5 million. The company noted that was the fourth consecutive year of positive financial results.
As energy prices continue to climb and solar rebates continue to attract a steady stream of customers, Antaris Solar has hired Robert McNamara as its new general manager for the United States in order to manage the regions increasing customer base. McNamara brings solar sales and management experience to his new role, coming from Solar Wholesale Products, which he led as president.
Adept Technology has hired Robert Malley, Jr. to fill the position of vice president for global operations. He will be responsible for planning and managing all aspects of Adept’s worldwide operations in support of the company’s strategic objectives to deliver its robotics systems and services to enable its customers to achieve precision, quality and productivity in their assembly, handling and packaging processes.
juwi has issued a press release to celebrate its success of 2011 and to increase public participation to make the transfer to renewables from fossil fuels more manageable. Thanks to this, the German company has been able to expand its management structure in a financially difficult climate.
Dr. Jan Withag, chairman of Solar Millennium’s management board, announced his resignation from all his offices taking effect on March 8. His announcement comes a week after insolvency proceedings for Solar Millennium AG commenced, overseen by the local Court of Fürth.
Former CPV system manufacturer Energy Innovations will have its assets auctioned off by Heritage Global Partners as an Assignment for the Benefit of Creditors. The company was a Poway, California-based HCPV company until insolvency proceedings in the form of liquidation of assets were initiated by its creditors.
