Constellation Energy has initiated its solar panel leasing program for residential customers in Maryland, New Jersey, New York, Massachusetts, Ohio and Pennsylvania. Customers in Maryland will have the solar offer conducted through Constellation’s subsidiary, BGE Home.
Less than a week after shutting down manufacturing operations, Solyndra followed through on its announced intention to file for Chapter 11 bankruptcy. The beleaguered CIGS thin-film PV firm said it hopes to reorganize and find a buyer and would like to avoid liquidating its assets.
MEMC Electronic Materials and its solar subsidiary, SunEdison, revealed that they had completed the acquisition of Fotowatio Renewable Ventures, Inc. (FRV US), the US subsidiary of Fotowatio Renewable Ventures. MEMC paid a the disclosed consideration of US$112 million plus repayment of nearly US$19 million in intercompany loans and capital contributions. An additional consideration of up to US$103.6 million may be paid if FRV US reaches specified performance targets.
Clean Power Finance (CPF) is in the midst of what is shaping up to be quite a promising month. The company recently closed a US$25 million investment led by new investor Kleiner Perkins Caufield & Byers (KPCB), received a US$3 million US Department of Energy (DOE) SunShot award and appointed three new board members and a new CEO.
Calisolar is making its move to become high-volume low-cost silicon solar wafer producer with plans to build a 16,000MT silicon production facility in Lowndes County, Mississippi at an estimated cost of US$600 million. A pioneer of enhanced UMG-based wafers, Calisolar is bring silicon material production in-house to significantly lower costs and have greater control over material quality. When fully operational, the plant is said to employ 951 full-time workers.
The US Export-Import Bank will provide First Solar with $455.7 million of loan guarantees to construct a pair of solar PV power projects in Ontario, Canada. The bank will guarantee a $236.7 million loan for a 50MW plant to be built near Amherstburg, Belmont, and Walpole townships, and another $219 million loan for a 40MW farm slated for construction in St. Clair. The debt will be repaid over 18 years.
GE Capital Real Estate and SunEdison flipped the switch on the first two of fifteen solar rooftop systems, which fall under the Ontario FiT program. The solar projects are part of GE Capital Real Estate’s environmental sustainability initiative with SunEdison agreeing to build and operate all fifteen of the PV systems.
Applied Materials (AMAT) posted a solid financial outcome upon the release of its third quarter 2011 results. Although the company noted that its overall Q3 orders and net sales were down 25% and 3%, respectively, compared to Q2 2011, AMAT still completed the quarter with US$2.39 billion in generated orders and saw its net sales reach the upper end of its previous guidance at US$2.79 billion. Non-GAAP operating income was US$683 million, with a non-GAAP net income of US$467 million, or US$0.35 per share.
SunPeak Solar advised that it had selected Suntech Power Holdings to supply 28.7MW (DC) of its solar panels for its 23MW (AC) solar project in Niland, California. Suntech will supply 100,000 of its 285/290W Vd-Series modules, which feature its SuperPoly silicon processing technology. SunPeak Solar’s subsidiary, Imperial Valley Solar Company (IVSC) 1, will manage the project’s construction and installation of the modules.
Nexamp and Cathartes Private Investments are joining forces to build the largest privately-owned solar project in Massachusetts. The 4.5MW system will be comprised of 14,000 panels and span 22 acres of industrial land bordering Route 3 near Westford. Construction is scheduled to begin this autumn.
