China-based PV manufacturer and PV project developer Hareon Solar Technology is raising around US$300 million in a private placement of new shares to expand PV manufacturing capacity and enter the LED market through an acquisition.
India’s fiercely competitive solar auctions have driven bids down to another surprise low with Finland-based developer Fortum Finnsurya Energy winning 70MW capacity in Rajasthan at a price of INR4.34/kWh (US$0.064), which is a drop of more than a 6% from the previous Indian record of INR4.63/kWh.
SMA is aiming to tackle the market for retrofitting energy storage systems in to existing home PV installations, with a new AC-coupled version of its Sunny Boy inverter suitable for high voltage batteries.
China-based PV energy provider United Photovoltaics Group is taking PV manufacturer and PV project developer Hareon Solar Technology to the China International Economic and Trade Arbitration Commission over failure to supply a total of 930MW of PV power plants under a previous agreement.
A consortium between India-based integrated utility and solar developer Essel Infra and China-based PV material manufacturer Golden Concord Holdings (GCL) has signed a memorandum of Understanding (MoU) with the Andhra Pradesh government to invest US$2 billion in developing 5GW of module manufacturing capacity by 2020 in the Indian state.
India crossed the 5GW mark for installed solar capacity this week, according to the latest figures from the Ministry of New and Renewable Energy (MNRE).
Diversified renewables firm Shunfeng International Clean Energy (SFCE) has warned that profits for the full-year 2015 would be lower than expected and below the previous year, due to a number of issues that include lower product ASPs.
Major PV metallisation paste producer Heraeus Photovoltaics says it has bolstered its multi-supplier sourcing strategy for silver powder after an accident in early January 2016 at one of the largest producers, Dowa Hightec, left two workers dead and two injured. The plant was subsequently shut down and could be out of commission for several months, pending investigations.
