Financially challenged Q-Cells said it will restructure its finances in 2 key steps to avoid payment defaults to bondholders. The company confirmed 2011 revenue forecast of around €1 billion but said total losses for the year had yet to be concluded. Q-Cells guided a further decline in revenue in 2012 to approximately €865 million. A return to profitability was not expected until 2014, though this would only occur should all three outstanding convertible bond renegotiations prove successful.
Industrial wastewater treatment (IWT) system manufacturer Saita srl has successfully installed an IWT for an unnamed Belgian solar cell manufacturer. This installation, which claims to recycle 97% of the wastewater used in the multicrystalline cell manufacturing process, marks the second such system installed by Saita, and the Italian company has set its sights on expanding the uptake of such systems across the PV manufacturing industry.
Mage Solar revealed that it had opened a logistics centre in Dagenham, located near London, in order to better serve the British solar market. The company looks to the new site to deliver its PV system components to its installation partners at a more efficient speed. Mage Solar has had a sales team in the United Kingdom since the beginning of 2011 and noted that it continues to expand its network of installation partners.
UK-based organic thin film start-up, Eight19 has installed roll-to-roll printing equipment at its Cambridge, UK headquarters as a preliminary move towards volume production, as reported by PV-Tech’s sister-site, Solar Power Portal UK. Thought to be the largest of its kind in Europe, the bespoke facility includes a multi-station roll-to-roll fabrication machine which is designed to manufacture solar substrates. Eight19 expects to have the first of its commercial printed plastic solar modules available in 2013.
Having bucked plans to aggressively pursue potential new markets in the Middle-East, Phoenix Solar has found the eastern-edge of Europe as a better bet, signing an exclusive partnership with Turkey’s leading installer, iRES Enerji.
Struggling Dutch module manufacturer, Solland Solar said it was forced to drastically reduce its remaining operations after the successful sale of its solar cell production facility, due to tough market conditions. Both its commercial and module assembly operations are being curtailed, without providing details, affecting approximately 100 employees.
Tensions in German chancellor Angela Merkel’s government continue over the future of feed-in tariffs. Economy minister Philipp Roesler is calling for an overhaul to the country’s subsidy system for renewable energy, created in the 1990s to ensure the clean-power industry remains competitive.
Verified by the Fraunhofer Institute for Solar Energy Systems ISE, Q-Cells said it had set new conversion efficiency records for multicrystalline and quasi-mono solar modules. A module with 60 multicrystalline solar cells, using its ‘Q.ANTUM’ cell concept was reported to have achieved 18.5% efficiency, up from a record Q-Cells claimed it had achieved of 18.1% last year. The market introduction of the Q.ANTUM solar cells and modules is planned for 2012 with pilot production at its advanced facility in Thalheim, Germany already underway.
Better than expected revenue figures have been reported by aleo solar, though previously guided losses of €25-€30 million are still expected for the full-year 2011, according to the company. aleo solar had previously guided revenue to be in the region of €440 million but this has been raised to €462 million, down 17% compared to 2010 revenue of €554 million.
