SAG Solarstrom advised that Deutsche Bank Group had given the company a financing commitment of €65 million. The loan has conditions in line with the market and a term up to the fall of 2013. The company plans to use the financing for various projects planned in 2012 and 2013, which will mainly be implemented in Germany. SAG Solarstrom acknowledged that the financing commitment and the payment of the loan will depend on the fulfillment of customary banking conditions and the signing of financing documents.
Renewable Energy Corporation’s (REC) board of directors has proposed an additional sum of NOK75 million (approx. US$12 million) to the Extraordinary General Meeting (EGM). The company states that all investors that participated in the private placement have agreed to the final gross proceeds of NOK375 million (approx. US$62 million).
Global Solar Energy Deutschland has begun insolvency proceedings at a German court, the company has announced. Global Solar Energy Inc., based in Tucson, Arizona, announced the news that the German executive team’s decision will not influence its Tucson production line. The company will cease operation of its 35MW German facility in Berlin, though.
According to a report from Solarplaza, Adenium Solar Energy has bought a portion of a 29MW portfolio of grid-connected, operational solar plants in Italy. The transaction is valued at €125 million with the assets to be managed by Adenium and Foresight. The companies expect for their joint venture to increase the portfolio within the next 12 months to a total of 100MW.
During Intersolar Europe 2012, KACO new energy signed a memorandum of understanding with Samsung SDI, which will see both companies support each other in defining optimal energy storage systems. Sangjin Park, CEO of Samsung SDI and Ralf Hofmann, CEO of KACO new energy both signed the MOU.
Sunsolar recently advised of its plans to construct a 30MW solar PV manufacturing plant in Oldbury with a US$7.85 million (£5 million) grant from the Government fund backed by Sandwell Council and the Regional Growth Fund. Sunsolar will provide an additional US$7.85 million for the factory’s development, with plans to open the facility’s doors at the end of October.
The industry-renowned Intersolar Europe 2012 has presented Schott Solar and Schmid, Solon and Isra with the award for innovative photovoltaic technology.
A report from BBC News has advised that German company Kronos Solar is considering developing a 25MW solar farm on Lower Wheatley Farm, north of Launceston in Cornwall. The project would be constructed across 120-acres and would be the largest solar farm in the county. The report points out that the local authority notes that Kronos is one of various firms currently pondering over constructing a solar farm in the area between 20-30MW.
Soitec has connected the largest Italian CPV plant to the grid, the company has announced. The company completed construction of a 1.17MW CPV plant in the municipality of Belpasso in Sicily. 74 Soitec CPV trackers have been installed, each equipped with 168 Concentric CPV modules and two 500kW inverters. The plant is owned and operated by Soitec and the energy will be sold to Enel.
Hanwha SolarOne is cooperating with Italian Assoimprese after the association added PV modules to its portfolio. The association has chosen Hanwha as the preferred supplier for its approximately 600,000 members and installers who are network members can purchase Hanwha modules at special rates.
