Etrion has released its interim consolidated financial statements and related management discussion and analysis for the three and nine months ended September 30, 2010 and 2009. Highlights for the third quarter include closing the acquisition of the 24MW first tranche of the 33MW Montalto solar park in Italy - subsequently closing the final 9MW tranche - recording US$7.0 million in revenues and completing a US$15 million private placement of shares to meet Toronto Stock Exchange listing requirements.
Johan Enslin, a 29-year veteran for the solar industry and the U.S., Europe and South Africa higher education system, has been named chief technology officer for Petra Solar. He has spent time in executive and consultant positions for private businesses and has been a professor in electrical and electronic engineering as well as conducting work at over 80 U.S., European, Asian and African power utilities, governments and industry projects. Enslin is credited with managing several renewable energy groups and projects for U.S. and international clients through system planning, power electronics and renewable energy integration.
SunPower has revealed that it’s new headquarters will remain based in San Jose, CA. The company is to relocate to an existing three-building site on Rio Robles next year in order to accommodate long-term growth plans. By renovating the buildings, with a rooftop solar system and solar carport alongside other renewable features, SunPower aims to achieve Leadership in Energy and Environmental Design (LEED) gold certification.
Despite an ongoing ramp of its Malaysia-based Fab 3 cell production plant that will increase its megawatt production by 65% in 2011, Tom Werner, CEO of SunPower, noted in its third-quarter financial conference call that demand for its products exceeded supply both in the second-half of this year but also going into 2011.
Solar 3D is looking forward to Dr. Changwan Son bringing his expertise in the photonics and optoelectronic devices fields to his new position as the company’s director of technology. Utilizing his background, Son will spearhead the development of Solar3D’s technology and prototype.
Describing business conditions as an ‘ongoing order boom in the solar sector,’ centrotherm photovoltaics posted revenue of €458.4 million for the first nine months of this year, a 22.3% increase compared with the same period a year ago. The company reported a total inflow of €707.7 million of new orders, compared with the prior-year period of €472.1 million. However, revenue fell in its thin film module segment to only €11.9 million in the period.
Feed-in tariff changes are to negatively impact photovoltaic (PV) installations in France, Belgium, Spain and Czech Republic in 2011, according to a new report from iSuppli Corp. However, the robust and stronger than expected growth of the German market for 2010 and 2011 will keep overall installations figures up compared with previous years. The market research firm expects worldwide installations in 2010 will amount to 15.8GW up from iSuppli’s previous outlook of 14.2GW, representing 118.7% growth from 7.2GW installed in 2009. In 2011 installations will amount to 19.3GW, down slightly from its previous forecast of 20.2GW.
One of the biggest pressures that the solar module industry faces is the ability to produce a solar module at a lower cost. Due to this demand in pricing, IMS Research has concluded that over 70% of module production capacity is made in Asia as of 2010’s fourth quarter. The trend to move production to Asia isn’t a passing one as IMS foresees that by the end of 2011, over 75% of the world’s PV production will take place in Asia.
Critical information and insight source, IHS, has signed a definitive agreement to acquire iSuppli. The transaction, which is subject to closing conditions contained in the agreement document, is expected to be completed by November 15.
Steven Brewer, a 20 year veteran of the large-scale utility industry, has been named Solar Trust of America’s executive vice president and chief commercial officer. Additionally, Brewer will serve as CEO for Solar Trust’s wholly owned engineering, procurement and construction subsidiary, Solar Trust of America , and be a member of the management board for the company.
