S.A.G. Solarstrom has announced a significant increase in sales volume with a positive EBIT. The company closed the first quarter of 2012 with sales of €21.4 million (Q1 2011: €78.9 million) and an EBIT of -€2.8 million (Q1 2011: €5.1 million), claiming these results are in line with its schedule for 2012. The company states that in the previous year’s quarter, sales and EBIT had been influenced to a very great extent by the large-scale Serenissima project.
Bloomberg is reporting that Conergy stock rose to its highest point since February following a report from the Financial Times Deutschland. The paper stated that the company was near ready to sell a 30% stake of Conergy to an undisclosed Chinese buyer. Bloomberg noted that company stocks rose as much as 16% to €0.57 per share.
The German Federal Council has determined that that the bill earlier adopted by the German Parliament for the reduction of solar subsidies will be going to a mediation committee, which will allow for the federal and state governments to negotiate finding a comprise. If the members do not find a resolution, the Federal Council has the ability to file an appeal against the bill, which could override Parliament’s decision with an absolute majority vote.
The University of Luxembourg’s Laboratory of Photovoltaics has received a sizable grant to develop technologies for more efficient and cheaper solar cells. The University is part of a consortium of 14 partners, known as the Scalenano project, which has been awarded €10 million by the European Union.
PV manufacturer PVA TePla AG has announced it has generated sales revenues of €31.0 million in the first quarter of 2012 (previous year: €23.1 million), its EBIT amounted to €2.9 million (previous year: €1.8 million).
GERO Solarpark GmbH’s 28MW solar power plant was inaugurated in Amsdorf, near Halle, Germany, with Saxony-Anhalt prime minister Dr Reiner Haseloff in attendance. The project is a joint venture set up by GETEC green energy AG and the ROMONTA group. Despite the €50 million investment being overshadowed by federal government plans to bring forward cuts to solar power subsidies, the companies have been able to realize the project in seven weeks after ground was broken on the site.
According to a report by EMG, representatives from Serbia’s government and the Securum Equity Partners Europe signed a memorandum for the development of what is being called the world’s largest solar park. Minister of the Environment, Oliver Dulic, and members of Securum’s management board, including Alessio Colussi and Ivan Matejak, signed the memo in the presence of Prime Minister Mirko Cvetkovic.
Westinghouse Solar and CBD Energy are hoping that the definitive merger agreement both companies signed this week will be completed by Q3 2012. Approvals from both companies’ board of directors have been received. Limited closing conditions and approval by both companies’ shareholders need to be finalized in order to complete the deal.
HYET Solar, a relatively new company founded by Rombout Swanborn, recently bought all assets of Helianthos from Nuon. The company plans to further develop Helianthos’ technology with a team of 15 to 20 employees. HYET advised that its long term goal is to eventually bring the Helianthos flexible solar cell foil to market on a large scale.
The former CEO of Scheuten Solar, Frans van den Heuvel, has been named CEO of UK-based Solarcentury. Van den Heuvel holds over 13 years of industry experience, previously working with ProxEnergy, a solar installation and smart-grid product development company. Van den Heuvel began his new role with Solarcentury on May 8.
