Despite current weakness in solar related equipment spending, due to weak demand for PV modules in the first half of the year and a longer than expected inventory build, GT Solar posted first quarter financial year revenue of US$231.1 million, compared to US$271.6 million last quarter and up 71% from the US$135.2 million of revenue in the first quarter of fiscal 2011. Record order backlog stood at US$2.3 billion.
Phoenix Solar Singapore has placed an order with Schott Solar for 67,000 PV modules, equivalent to approximately 16MW for two projects being developed near Bangkok, Thailand since June, 2011. The contract on supplying these modules was said to have been negotiated at this year’s Intersolar Europe. The two installations are expected to go into operation by the end of the year.
Not be outdone by rivals such as Yingli Green in the utility-scale PV power plant business in China, Trina Solar has secured a 30MW module supply agreement with Huanghe Hydropower Development Co. Huanghe Hydropower is planning two ground-mounted solar projects in China's Qinghai Province, of which delivery is expected to start from August and continue through October of this year.
A US$50 million fund is up for grabs by the US Department of Energy to domestic PV manufacturers wanting to take solar technology from the lab to the fab to help restore the United States as being at the forefront of solar manufacturing. The funding program is the second solar Photovoltaic Manufacturing Initiative (PVMI) initiative, dubbed SUNPATH, which stands for Scaling Up Nascent PV At Home.
Independent power developer K Road Power Holdings and Barclays Natural Resource Investments have established a partnership aimed at the development, construction, and operations of K Road’s utility-scale solar power portfolio. The developer has 11 solar projects totaling nearly 2.3GW in various stages of development in the southwestern US.
AEG Power Solutions has acquired the outstanding 25% of Skytron Energy after buying a majority stake in 2010. Under the existing management of Martin Sauter, Skytron will stay a separate legal entity with its own brand. The companies said they will jointly take advantage of the strong global growth within the solar market, especially in India. Other business opportunities are developing operations and maintenance business as well as smart-grid solutions.
China's first BIPV fire station was put into service in Baoding, Hebei, on July 29, featuring a 250kW, 2650 m2 solar façade. With an annual generating capacity of 300MWh the system is expected to reduce 312 tons of carbon emissions each year.
The ongoing wafer supply deal dispute between China Sunergy and REC Wafer entered a new phase with a Norwegian court ruling in favour of China Sunergy. REC Wafer is said to appeal the decision made by the Norwegian Court of Appeal.
Phoenix Solar has secured two new contracts of one MWp each in Tamil Nadu and Gujarat states, India. The projects were signed with Phoenix Solar Pte Ltd in Singapore, its Asia Pacific subsidiary. Both PV projects will use thin film technologies. Both projects are scheduled to be connected to the grid by 31 December, 2011.
German football club Bayer 04 Leverkusen has signed a three-year sponsorship contract with solar giants JinkoSolar. The deal provides Jinko with advertising space at the club’s BayArena and also grants it exclusive rights to install solar panels on the stadium itself.
