Spire Corporation has released their third quarter revenue results for the period that ended September 30. The total revenue amounted to $16.5 million, compared to 2008’s third quarter $16.6 million. The net loss was $3.5 million this quarter compared to 2008, which saw a net income of $445,000. The losses include $1.2 million for 2009 and $77,000 for 2008 third quarter results for the company’s medical products business unit that has now been classified as a discontinued operation.
Sanyo Electric has announced that with the European region improving its demand for solar panels, it will increase its solar panel production capacity in Europe by 90% or 315MW by next summer. Nikkei.com reports that the added production will be happening at the Sanyo Hungary facility using the space that has been released since the company ended the lithium ion battery pack production. The total investment for the additional panel production will be between two and three billion Yen.
aleo solar announced that its market share in Greece has increased to 16%. According to Hellenic Transmission System Operation, of the 38MW of PV power that have been connected to Greece’s national grid, aleo has supplied more than 6MW since 2007. Projects range from commercial, private and rooftop installations to large greenfield facilities.
Sino-American Silicon Products told Reuters.com that it expects its shipments to rise around 30% in 2010 as it sees that global market for solar power improving. Sino-American president Doris Hsu, told Reuters that the company is looking to raise cash by issuing shares and will see an increase in profit next year due to a higher demand for solar products, better wafer prices and lower raw material costs.
For the first nine months of 2009, aleo solar has posted revenue of €220.8 million. Even though this is a drop from the first nine months of 2008 (€256.2 million), the company is still hopeful that it will reach its planned sales targets. aleo also posted a positive EBIT of €0.3 million, which shows the trend reversal that the company achieved in the second quarter.
LDK Solar announced that upon its motion the Superior People’s Court in Jiangxi Province has issued a civil order halting any payment that may be made by the relevant guarantor/counter-guarantor banks pursuant to the guarantee and/or counter-guarantee issued in connection with the prepayments Q-Cells made that amassed to US $244.5 million under a solar wafer supply agreement with LDK Solar.
SAG Solarstrom has announced their third quarter results and posting strong numbers. Consolidated group sales over the first nine months totaled €76.5 million (previous year: €64 million), with sales of €44.8 million in the third quarter contributing to this increased number. The overall earnings before interest and tax (EBIT) figured amounted to €2 million, rising from the €1.1 million from the previous year. This increase also shows that the EBIT increased over nine months to €2.4 million from €2.1 million last year.
MiaSolé has appointed Kevin Eassa as the new vice president for manufacturing and operations. Eassa brings over 26 years of manufacturing experience, specifically in the disc drive industry with Seagate Technology. While at Seagate he oversaw the rapid global expansion of the company’s manufacturing and operations in five countries and three continents.
Enfinity and Titan Energy have announced their plans to work in partnership to finance and construct 1GWp photovoltaic installations on 3000 acres of land in Andhra Pradesh, India, over the next five years. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) will distribute, in long lease, the 3000 acres in the villages of Thumalla, Dademavaripalli, Pulikuntapalli, Karimireddypalli and Lokogipalli and at the industrial park of Amadugur near Kadiri.
Continuing its trend for this year to expand its European administration, Suntech Power has added to its management board with the appointment of four new senior executives. David Hogg is head of Suntech Europe, Vedat Gurgeli is VP of Sales Europe, Frank Weber is Marketing Director of Europe and Carl von Braun is Director of Project Finance Europe.
