BTU International has announced its financial results for the second quarter ended July 4, 2010. Net sales for the period were US$18.0 million, up 4.9% compared to US$17.2 million in the preceding quarter, and up 66.8% compared to US$10.8 million for the same quarter in 2009.
Intevac has reported strong financial results for the quarter and six months ended July 3, 2010. Total revenues for the second quarter were US$68.6 million, up 457% year-on-year and 107% quarter-on-quarter, while gross margin was 42.3% and operating margin 21.1%.
Hanwha Chemical is to purchase a 50% stake in Solarfun for a total of 434.1 billion won (US$371 million) in order to diversify revenue sources. The company will purchase 208.3 million shares, including new stock.
Following the news at the close of last week that Spain was edging ever-closer to the threat of feed-in tariff cuts, the country's industry ministry has now announced that it plans to cut the subsidized electricity prices paid to new photovoltaic solar power plants by up to 45%.
SolarMarkt, a wholesaler and project planner for photovoltaic systems, has been acquired by Würth Solar. Alongside the declaration of this acquisition, Würth also presented its extended company strategy at a press conference in the Schwäbisch Hall, Germany. The company said that it plans to anchor its dynamic growth on five pillars and is planning to increase its sales to over €500 million by 2014.
SolarEdge has formed a partnership with Greek-based Enolia Solar Systems in a bid to expand its operations in the country. This follows the news in June that the Israel-based solar power harvesting solution provider will begin distributing in Australia, highlighting the company's increasing global network.
Updated: Sharp has revealed that it is set to increase annual production capacity at its UK-based manufacturing base (SUKM) in Wrexham, Wales, by 100%, doubling up from the current 250MW of crystalline solar cell modules per year to 500MW. The increase will begin in December 2010, with the aim of completion by February 2011. SUKM, which is Sharp's second international production base (the first located in the U.S.), began producing solar cell modules in the spring of 2004. The Japanese manufacturer must now expand its production capacity to meet the ever-growing global demand for solar cells.
The German Federal network Agency has revealed that solar capacity increased by approximately 3GW in the first half of 2010 as solar panel operators rushed to register their installations before the feed-in tariff cuts.
Power Finance and Rural Electrification, under the Indian government's Jawaharlal Nehru National Solar Mission, will provide financial assistance for the installation of 1,000MW solar power in India by the year 2013.
SunPower has now completed the 1MW solar PV installation at the Yolo County Justice Campus in Woodland, CA. Yolo County, which owns the system and associated renewable energy credits, is financing the system using multiple funding sources, including clean renewable energy bonds (financed by Bank of America), qualified energy conservation bonds available through the American Recovery and Reinvestment Act of 2009 and a 15-year loan from the California Energy Commission.
