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.
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.
