HyperSolar has recruited Martin Adams as its new director of technology, where he will be responsible for the design and engineering of the company’s thin optical layer. Adams brings a 35-year background in the advancement of emerging technologies for lighting design and prototyping.
An ambitious plan, which hasn’t been without implementation issues and which has stretched the financial structure of REC Group, is finally bearing fruit according to key executives of the company. At a lengthy investor and analyst seminar being held in Singapore, coinciding with the grand opening of the company's €1.3 billion plus integrated module production facility, enigmatic CEO Ole Enger claimed REC was on track to deliver a companywide all inclusive cost of €0.97/watt by the fourth quarter 2011. Excluding equipment and building depreciation at the new plant, the cash cost target for next year would be €0.74/watt.
The CFO of China Sunergy has left the company. Siegfried Yi Chou Hsu has resigned from his current role for personal reasons, effective Oct. 31. While a search for his replacement has begun, the company named Yongfei Chen as financial controller, who will manage daily financial operations in the interim.
First Reserve has closed its financial facilities agreement for the Rovigo solar plant at €276 million. The private equity firm bought the 70MW PV plant from Sun Edison, with whom they had previously established a joint venture, this past September. Banco Santander, Unicredit Corporate Banking, Credit Agricole, Dexia Crediop, Natixis and Societe Generale were additional lenders with First Reserve for the financing agreement.
Regardless of what market research data you rely on, the analysts agree: the photovoltaics market is expected to grow considerably in 2010. Even the most hawkish of forecasts would therefore expect PV installations to almost double from 2009, creating a demand somewhere near 14GW in 2010. According to Bernreuter Research, which specializes in tracking the polysilicon market, polysilicon production in 2010 should be sufficient to produce the equivalent of 17GW of c-Si modules.
The Indian Government has warned that all companies that have been placed on the shortlist to qualify for incentives under the country's program to boost solar power generation will have to submit final bids by Nov. 16, reports Bloomberg.
Dyesol has appointed Gavin Tulloch to its board of directors as director of technology. Tulloch, who was previously positioned as managing director for the global market, will assist the company as it prepares for full commercialization of its PV technology.
3W Power Holdings, the holding company of AEG Power Solutions (AEG PS), has reported its financial results for the third quarter ended September 30, 2010. While Q3'10 is typically a weak quarter cyclically for AEG PS, due to traditionally slower trading in Europe in August, the solar segment still came out on top.
As Vern Heinrichs (pictured), the current CEO, retires from his executive position he’s held since 2009, Arise Technologies’ board has chosen his successor in Daniel Shea. The management change is effective as of October 21, with Heinrichs agreeing to be a consultant for the company for three months. In addition, as Heinrichs is also stepping down from his position as director, Shea is to be nominated as his replacement.
The UK's Chancellor of the Exchequer, George Osborne, announced the coalition government's Comprehensive Spending review, revealing that there will be no immediate cuts to the country's solar feed-in tariff, according to PV-Tech's UK sister site, Solar Power Portal.
