Having noted a 45% price decline for bare wafers from May to June this year, PV Crystalox Solar said it was currently operating below breakeven level and expects further pricing pressure in the second-half of the year could lead to incurring an operating loss in the second half. Despite challenging business environment, the wafer producer posted a 23% increase in wafer shipments in the first-half of the year to 204MW, compared to the same period (165MW) a year ago. PV Crystalox posted revenue of €129.6million, up 16% compared the prior year period. EBIT was up by 161% to €24.3 million. Wafer production capacity also increased, reaching a nameplate capacity of 535MW. The company is expanding capacity to 750MW by early 2012.
In a move that is sure to trigger interest across the solar industry, the Solar Trust of America has decided to change its plans for the first phase of its 1GW Blythe Solar Power Project. Switching from concentrated solar power (CSP) to photovoltaic technology for the first phase of the project (500MW), the company has cited improved PV market conditions for the decision.
As part of its strategy to supply a complete materials offering to the PV industry, Dow Corning has brought online a new 4,000MT per annum monosilane gas facility, adjacent to Hemlock Semiconductor’s polysilicon manufacturing plant in Hemlock, Michigan.
Envision Solar International advised of key changes to its executive management staff including its founder, Bob Noble, taking on the role of executive chairman while Desmond Wheatly, current president and Envision COO, will succeed Noble as CEO. Chris Caulson has additionally been named Envision Solar’s CFO with all changes effective August 10. Both Wheatley and Caulson have worked together for over ten years in publically traded and privately held international and domestic companies.
One of the prime movers in First Solar’s rapid transformation into a leading vertically integrated PV company is moving on. Jens Meyerhoff, current president of the utility systems business group and former CFO, will be leaving the firm effective Sept. 30.
As a consequence of Evergreen Solar’s Chapter 11 bankruptcy filing, Nasdaq has notified the company that it will be suspended at the opening of business on August 24. Based on Nasdaq rules, Evergreen Solar’s common stock will be delisted but the company may trade on the OTC Bulletin Board or the Pink OTC Markets. However, this will require at least one market maker to quote Evergreen Solar’s common stock, though this is not given, it normally happens.
JA Solar Holdings revealed that it has signed a supply agreement with China Power Investment’s subsidiary, Huanghe Hydropower Development, for the delivery of nearly 21MW of solar products by September. The PV modules will be used for a solar project being developed in Qinghai, China.
BrightSource Energy has welcomed Joe Desmond as senior VP of government affairs and communications, Stephen Wiley as senior VP of US development and Yasser Dib as regional VP of international business development to its executive management team. Between them, the three new recruits hold nearly 60 years of experience in the energy sector.
US-based project developer SPI Solar said it has been awarded two new contracts worth 14.1MW. The first project is a 4.4MW fixed-ground-mount solar power plant located in Evros, a northeastern region of Greece, while the second project is for a 9.7MW fixed-ground-mount solar power plant for a subsidiary of an international pharmaceutical company’s operations at its New Jersey corporate headquarters. Both projects will use LDK Solar’s PV modules.
Sungevity and Citigroup have created a renewable energy tax equity fund that will support over $50 million of new residential solar lease projects. The installer/integrator company said it has raised funds to support over $120 million in residential solar projects in the US since 2010.
