Having previously announced a major reorganization of its entire operations, centrotherm photovoltaics, the second largest equipment supplier to the PV industry, has employed an outside consultancy to prepare discussions with its banks to secure further funding. The move was sparked by short-term liquidity issues after merchandise credit insurance companies, used for products and merchandise being delivered to the company, declined further coverage and guarantees.
Scheuten Solar has been sold to Chinese investor Aikosolar and the company is celebrating its “comeback” at Intersolar Europe. Aikosolar, a solar cell manufacturer and also owner of Powerway Renewable Energy, has taken over Scheuten’s essential components. The combination of Scheuten Solar’s product portfolio, 10 years of experience and Aikosolar’s financial strength as well as Powerway Renewable Energy’s EPC experience propose a positive outlook for the future, company representatives stated. Financial details of the deal were not disclosed.
The German government struggles to reach common ground on the proposed solar cuts, according to Bloomberg. In an email statement it was said that the upper house failed to reach an agreement in a panel meeting. Talks will resume on June 27. The upper house representatives have voiced concerns that the legislation will hurt domestic producers like Solarworld even further.
Distributed Energy Research & Solutions, or EnergySage, has been the recipient of one of 10 Department of Energy (DoE) SunShot Incubator investments worth US$500,000. The funding will be used to develop a web-based PV comparison-shopping platform that aims to deliver pricing transparency and encourage online networking among property owners and solar PV installers.
SolarCity and US Bancorp have announced a US$250 million fund to finance residential and commercial PV projects. The renewable energy tax equity fund is intended for homeowners as well as businesses, administrative, school and county buildings. The fund will be used to finance the solar panels and installations, while customers pay a discounted amount for the electricity. In the three years that SolarCity and US Bancorp have been collaborating, this is the sixth and largest fund, designed to make PV systems more accessible and affordable.
The inevitable fall-out from last month’s US Dept. of Commerce ruling against the import of Chinese solar products is now measurable in numbers, as the Coalition for American Solar Manufacturing (CASM) has revealed details of import figures for April. With US Customs and Border protection closely monitoring all imports to prevent companies dodging the anti-subsidy duties, imports in April came to US$70.7 million, down 66% compared to the previous month’s US$206 million.
With a new marketing communications, public relations and advertising expert, it could be assumed that Sarasota-based Sunovia Energy Technologies could be taking steps to rebrand itself. Jon Di Gesu has been appointed head of marketing and will direct the company’s branding and positioning efforts to support its growing global sales force and customer base.
Taiyo Pacific Partners has upped its stake in Japan-based Ulvac to 18%, following its purchase of a 5% shares stake in September 2009. Taiyo is now Ulvac’s largest shareholder Pacific Partners and has, since its initial investment in 2009, acted as a “long-term friendly investor providing valuable advice and support”, according to Ulvac’s president Hidenori Suwa.
Flexible CIGS module manufacturer Global Solar Energy has initiated the steps to attract new investment, enlisting the services of FTI Capital Advisors to investigate new investor participation that could see the partial or complete takeover of the company.
The Cambridge, Massachusetts-based Fraunhofer Center for Sustainable Energy Systems (CSE) has appointed CPV expert Geoffrey S. Kinsey, Ph.D. to the role of director of its Photovoltaic Technologies Group. Dr. Kinsey joins the organization from his former role as senior director of R&D at Amonix, where he led a team working on the optimization of III-V multijunction cells for solar power generators, recently reaching a module efficiency of 33% in outdoor operating conditions.
