A former vice president at Q-Cells, Matthias Altieri has joined UK-based merchant bank, ThomasLloyd Group to run its solar energy funding operations as managing director. The appointment was made at the beginning of December, 2011. In his new capacity, Mr Altieri will be responsible for sourcing new business both in the provision of technology and in the sourcing of new development opportunities.
Lux Research’s latest Solar Demand Forecaster claims Portugal’s installations cap to be the most alluring in Europe to investors. The country’s internal rates of returns (IRR) for the six major solar technologies remain high in 2011 along with Cyprus and Greece, though the financial crisis in Europe could significantly hinder that market.
SAG Solarstrom has sold its 48MW Serenissima PV plant in Northern Italy to an unnamed institutional investor. The purchase contract, valued “in line with the market rate in the triple-digit million-euro range”, was signed on December 31, 2011 and is subject to the usual conditions precedent. Payment will be made to SAG Solarstrom sometime in Q1.
Weak pricing, especially on the spot market, has forced REC to reduce monocrystalline wafer production at its Glomfjord, Norway facility by 50%. The announcement comes soon after reducing multicrystalline wafer production at its facility in Herøya, Norway by 60% in late November, 2011. REC said that the temporary shutdown would affect approximately 65 employees at its Glomfjord facility.
Activ Solar has finished the fifth and final construction phase of its 100MW Perovo Solar Power Station in Ukraine. This last development stage, completed on December 28, added a further 20MW to capacity, thus making the Perovo Europe's largest PV system.
Renewable energy project developer, juwi is looking for 40 apprentices as it prepares to expand operations in 2012 after a successful 2011, according to the company. The project developer is currently building a third office block at its headquarters in Wörrstadt, Germany, which is expected to house a total of 400 employees when the new office expansion is completed.
A highly anticipated deal expected since Total bought a majority share holding in SunPower earlier this year, should be completed in early 2012. SunPower is to acquire module manufacturer, Tenesol from Total for US$165.4 million in cash. Ownership of Total in SunPower will increase to 66% as part of the transaction. SunPower noted that the acquisition would positively affect its financial position in 2012.
Activ Solar has completed Phase IV of its Perovo Solar Power Station, adding a further 20MW to the system’s size. Perovo’s total capacity now stands at 80MW and with ramping up still ongoing – Activ Solar has yet to reveal the full size of the plant – it looks set to be one of the largest PV projects in Europe.
China Sunergy advised that it had shipped 1.59MW of its solar panels to Emotion Energy, which has partnered with Edison Energy to install solar panels for 117 houses in a residential rooftop project in Faifley, Scotland for the Knowes Housing Association Scotland. The PV project will allow 117 Knowes tenants to partake in the energy generated from the solar panels free of charge for 25 years. The solar project was installed prior to the change in FiT on December 12.
