The final adaptation of Italy's deficit-reduction plan has imposed further reductions on renewable energy incentives. If confirmed, the new legislation could see incentives to renewable energy companies paid for by consumers on their electricity bills slashed by as much as 30%.
Just over a year after Astronergy and Munich Re signed a contract to cover Astronergy’s crystalline-silicon PV modules, the two companies have revealed a new agreement that sees the reinsurer covering all crystalline-silicon PV modules sold by Astronergy as of January 1, 2011. The new contract additionally calls for Munich Re to back-up the performance warranties Astronergy issues against excessive power loss over the next 25 years.
Just one small euro million below the half-billion euro mark was reported by Fronius for revenue in 2010. The Austrian inverter manufacturer grew sales by 52%, compared with the previous year. Although sales in the PV inverter segment were not given separately, 2010 was characterised as a record year for inverter sales by market research firms.
Building upon its success with its 20MW Starwood SSM1, completed in October 2010, and the 30MW Starwood SSM2, expected to be completed during 2011’s third quarter, Starwood Energy Group Global has finalized the financing for the final 10MW of its Starwood SSM3 solar project. The combined 60MW project in Sault Ste. Marie, Ontario is contracted under the Renewable Energy Standard Offer Program with its development overseen by the Ontario Power Authority. The project will be connected to the local PUC Distribution grid and is said to be the second largest solar project in North America.
Semprius has secured US$20 million in its first tranche of Series C venture fundraising for a pilot high-concentration photovoltaic (HCPV) module production plant. Siemens Venture Capital led the investment round and was joined by Arch Venture Partners, Applied Ventures, Illinois Ventures, Intersouth Partners, In-Q-Tel and GVC Investment.
Spanish regulators have suspended subsidies for 360 solar plants after they failed to prove their eligibility for the feed-in tariff. The sanctioning brings the number of projects punished by the regulators to 1,919 and concludes the investigation into fraudulent subsidy claims within the country’s solar industry.
The Antaris Solar Group has appointed Gerhard Steinebrunner to its senior management team. Steinebrunner joins company founder Michael Goede and Thomas Perr on the expanded team, which is looking to strengthen the company’s presence in both the German and worldwide markets.
Leading French renewable energy producer Fonroche Energie has secured a €52-million credit line with a banking syndicate led by Credit Agricole. This finance will help Fonroche to increase its green portfolio, an expansion plan highlighted by the construction of 20MW of solar greenhouses in France.
Yet more uncertainty overshadowed Australia’s solar industry at the end of last week as the South Australian Government discussed the future of the state’s feed-in tariff. Having originally planned to increase the incentive rate from 44c to 54c, plus a mandatory additional contribution from electricity retailers, the Government is now tipped to keep the tariff at 44c until the end of September for solar households entering the scheme.
Suntech Power’s Just-Roof building integrated photovoltaic (BIPV) solution has been approved by French certification body CEIAB (Comité d'Evaluation de l'Intégration au Bâti). CEIAB is France’s official evaluation committee for all BIPV products, and its endorsement sees Just Roof gain eligibility for the country’s highest available feed-in-tariff.
