In its newly released mergers and acquisition report for Q3 2012, Mercom Capital Group found that venture capital (VC) funding in the solar industry was at its lowest point since 2008 totaling only US$72 million in 14 deals, compared to US$376 million in 32 deals in Q2 2012.
Over a three-year period, Gestamp Solar intends to develop 300MW of solar power in Japan, focusing on rooftop projects. Bloomberg reported that the company is forecasting the cost at US$5,000 per kilowatt, which according to Jorge Barredo, CEO of Gestamp Solar, would be an investment of US$1.5 billion.
SolarCity has expanded its presence in the northeast with new locations in New York’s Westchester County and Long Island joining its recently magnified Albany operations centre.
PSEG Solar Source advised that its 25.2MW DC (19MW AC) Queen Creek Solar Farm has reached commercial operation. Located in Queen Creek, Arizona, the solar plant is built on 148 acres of land and uses nearly 90,000 crystalline solar panels, which operate on a single axis tracking system.
Bloomberg has reported that GCL-Poly Energy Holdings and Foxconn Technology Group plan to cohesively work on building and operating a solar plant in China’s Shanxi province. The 310MW plant will use GCL’s solar cells, which will be assembled by Foxconn, with both companies agreeing to share the revenue produced from selling the electricity to the government utility.
South Coast Solar advised that its CEO, Tucker Crawford, has stepped down in order to work full-time as president of the Gulf States Renewable Energy Industries Association (GSREIA). The group is specifically dedicated to expanding the use of solar power in Louisiana, Mississippi and Alabama.
The German Federal Network Agency has reported that PV installations in Germany were significantly sluggish in August, with the country adding only 330MW of new PV capacity during the month, compared to 612MW in August 2011 and 543MW in July 2012.
JA Solar Holdings publicized that its monocrystalline and multicrystalline Cypress solar cells have reached a new high in their average conversion efficiency. The monocrystalline Cypress solar cell reached an average 19.1% efficiency, while the multicrystalline Cypress cell reached 17.4%. The industry average is said to be 18.8% and 17% for monocrystalline and multicrystalline solar cells, respectively.
3M and Ceradyne revealed that they have entered a definitive agreement, which will see 3M buy Ceradyne for US$35 per share. The transaction holds an aggregate value of nearly US$860 million, or US$670 million net of cash, cash equivalents, short-term investments and debt acquired. Ceradyne, a major producer of crucibles used in the production of polysilicon chunks for multicrystalline ingots and then wafers, will join the 3M Energy Advanced Materials Division.
In releasing its latest Polysilicon and Wafer Supply chain Quarterly Report for Q3 2012, NPD Solarbuzz is predicting that polysilicon capacity will grow 22% in 2012 and another 18% in 2013. According to the report, the industry’s polysilicon processes for PV applications are anticipated to drop 52% this year while plant utilization will decline from to 63%, from 77% in 2011. Total polysilicon capacity will be in excess of 385,000 tons this year, of which 70% will be held by a small group of tier 1 producers.
