Power Plants

OPEL Technologies released its financial statements for both Q4 2011 and the full 2011 fiscal year. The company confirmed that its revenue for Q4 was US$1.05 million while its annual revenue amounted to US$5.9 million. Both its quarterly and yearly revenues surpassed the amounts posted the year before by US$4.2 million in annual revenue and US$678,806 in quarterly revenue.

SolarCity advised that it is planning to organise a registered initial public offering of its common stock. The company anticipates beginning the offering after the SEC completes the review process initiated by SolarCity’s confidential submission on April 26 of its draft registration statement.

Since 2010, Haiti has been struggling to recover from the devastating 7.0 magnitude earthquake that struck on January 12. A part of the country’s rehabilitation is the construction of the Mirebalais Hospital, a soon to be finished 320-bed hospital, which is stated to offer a new level of care not previously available at a public facility. The hospital’s roof is being outfitted with 1,800 solar panels.

Northland Power and the Aecon Group have announced a collaboration to construct PV plants generating 60MW of energy. Miwel Construction, a subsidiary of Aecon, is currently building the six PV plants across Ontario, Canada. The projects are located in Smith Falls, Belleville as well as Burke’s Falls and, once completed, each will generate 10MW of energy. The plants are each equipped with more than 40,000 PV modules, on sites of nearly 85 acres.

Delayed fourth quarter and full-year results at LDK Solar show the full extent of the challenges facing the integrated PV manufacturer. Having already revised downwards its fourth quarter figures, the company missed revenue guidance and guided first quarter revenue to levels not seen since the second quarter of 2009. Loss from operations for the fourth quarter of fiscal 2011 was US$531.4 million on the back of heavy write downs across the company, leading to a net loss of US$588.7 million. Revenue reached US$2.15 billion in 2011, compared to US$2.5 billion in 2010.

Meyer Burger Technology advised that it had raised US$121.3 (CHF110 million) in long-term capital through a Swiss Franc dominated straight bond issuance. The bond holds a coupon of 5% payable annually and maturity date of May 24, 2017. Zürcher Kantonalbank, Credit Suisse and UBS Investment Bank collectively offered the bond issue to institutional and private investors.

As Phase 1 of India’s National Solar Mission reaches half way, India stops to take stock of its progress with an independent report conducted by the National Resources Defence Council (NRDC) and the Council on Energy, Environment and Water (CEEQ). The report has been drawn from extensive discussions with stakeholders and research and analysis of national, state and international programs, with the aim of aiding the government in overcoming obstacles to achieving the Mission’s goal of 20GW by 2022.

As part of plans to increase hyperpure polysilicon production to meet customer demand, Wacker has officially started volume production at its latest plant in Nünchritz, Germany. Wacker said it had invested €900 million in the facilities, creating more than 500 new jobs. The 15,000MT polysilicon plant should reach full capacity within the next few weeks, Wacker said.

Citing high energy bills as a result of the colossal cost of importing electricity, the Jamaica Energy Council assembled on April 20 to discuss the implementation of an energy policy, reported the Jamaica Information Service. The focus of the council, comprised of bi-partisan and stakeholder members and chaired by the minister of Science, Technology, Energy and Mining, Phillip Paulwell, alongside opposition energy spokesman, Gregory Mair, set the agenda with renewable and indigenous energy source development for energy security, energy conservation and efficiency as well as opportunities to achieve and sustain price competitiveness as the priority.

Solaria Energía y Medio Ambiente has entered an agreement to develop 25MW of energy in Ecuador. The first project, a ground-mounted PV array in the mountains surrounding the city of Quito will be developed in two phases: the first stage sees the construction of a 1MW pilot project, to be completed by the end of 2012. In the second stage, the project will be extended to 5MW. Stage two is estimated to be completed in the first half of 2013.