According to a new report from market research firm Photon Consulting, the PV industry is looking at a supply-driven price crash on the back of expected strong feed-in tariff cuts in Germany over the next two-years, which will dampen demand sufficiently to cause a glut in modules and impact the entire supply-chain.
Elkem Silicon Materials (polysilicon) and Elkem Solar (solar wafers) are part of a business divesture plan of Norwegian conglomerate Orkla to primarily state-owned Chinese chemical firm, China National Bluestar. The US$2 billion all-cash transaction also includes Elkem’s aluminium and carbon’s businesses. Completion of the deal is expected during the first half of 2011.
Amtech Systems has announced its preliminary results for Q1 of the new fiscal year, including record-breaking revenue and pre-sale figures. Q1, which ended on December 31, delivered revenue of US$52 million, bookings of approximately US$134 million, and an order backlog of US$172 million.
5N Plus, a producer of high-purity metals, compounds and wafers for electronic applications, has converted its US$3 million debenture with Sylarus Technologies into a 66.67% majority interest. 5N has also agreed to provide additional funding of US$766,000 in the form of secured debt, to enable the repayment of short-term debt contracted by Sylarus.
JinkoSolar has won the right to supply Premier Power Renewable Energy with 1.3MW of multi-crystalline solar modules during Q1 2011. The agreement sees JinkoSolar make significant inroads into the U.S. solar supply market for the first time and Premier Power add another high-profile name to its list of suppliers.
Technic has appointed Wilson Xia as its Asia-Pacific technical director of photovoltaics. Xia’s new role will see him working on the research and development, applications engineering and distribution of the company’s TechniSol photovoltaic processing technologies.
On Christmas Eve the Spanish Government made the controversial decision to again cut the financial support offered to solar power generators. The unstable budget situation in the country has forced the Government into a corner in which it will now make significant cutbacks to subsidies for PV plants installed on the Iberian Peninsular, with the additional reduction affecting existing as well as new installations over the next three years.
LDK Solar has paid US$33 million for a 70% stake in PV solutions developer Solar Power. LDK's involvement will help with the development and management of Solar Power’s project pipeline, which primarily consists of utility-scale power plants and commercial and industrial generation systems.
On January 1, 2011, Oregon’s Department of Energy put new rules into effect, which have allowed for SolarCity to offer its first residential solar lease in the State. As of the first of this year, Oregon residents who lease their solar systems are able to receive the residential tax credit (RETC), which was previously only offered to customers who had purchased their system. Since the credits cannot be passed onto SolarCity, the company will allow its customers to postpone the remaining system cost that is not covered by the lease payments until the customer receives their RETC.
Led by Austin Venture, Lincoln Renewable Energy (LRE) has closed its most recent round of private funding at US$14 million. Aside from Austin Ventures, contributors also included private investors and LRE management and founding investors. Furthermore, Ken DeAngelis, general partner, and Clark Jernigan, venture partner, and both part of Austin Ventures, will become members of LRE’s board.
