Big funding deals maybe a thing of the past but overall VC funding deals remain at record levels, according to the latest quarterly report of solar VC funding activity by Mercom Capital Group. Citing a slow start to 2012, VC funding in the first quarter of 2012 reached only US$329 million the lowest dollar amount recorded since Q4 2010. However, 34 deals were reported, suggesting VC’s are taking a lower risk approach to the sector, according to the report authors.
Suniva revealed that its ARTisun Select series of solar cells are averaging 19% efficiency in plant-wide production. The new cell efficiencies are available to cell customers and have been incorporated into the company’s Optimus modules. Suniva additionally noted that it has refined the aesthetic specifications for the cells, including a narrower color band, which is said to have created a more cosmetically uniform module.
The partnership between Silfab SpA and ISC Konstanz has announced the achievement of a 21% energy conversion efficiency for large area monocrystalline silicon solar cells. The news is a result of the companies’ research partnership on ‘Zebra’ interdigitated back-contact (IBC) cells as unveiled by the joint venture last summer. It is believed that efficiency could eventually top 24% for the solar cells.
Having posted record revenue of CHF 1.32 billion in 2011, major PV equipment supplier, Meyer Burger acknowledge that 2012 would be a lean year due to overcapacity and significant cuts to capital spending from PV manufacturers. The company guided revenue to be down significantly in 2012 and in the range of CHF 600–800 million and an EBITDA margin between 4–8%. Management noted that it didn’t expect a recovery in demand for equipment until 2013 and had started a restructuring plan to reduce operating costs with a 15% workforce reduction.
Emphasis on high-performance module production and increased shipments to markets such as the US and Japan, to take advantage of growing utility-scale and residential businesses respectively, was a key highlight in JA Solar’s quarterly conference call. China, would also receive greater attention as partnerships with utility customers expanded its pipeline.
The Institute for Solar Energy Research Hamelin (ISFH) advised that it had recently bought a process development tool (PDT) from SoLayTec, which will use A12O3 deposition and integrate the surface passivation layers into different type of silicon solar cells, which are under development.
China-based developer Solar EnerTech Corp has advised that despite its financial struggles requiring it to deregister its common stock; it has retained FTI Consulting to lead its restructuring plans. A chief restructuring officer from FTI has been appointed to explore alternatives to maximize the return to investors.
A new research program to bring ‘Black Silicon’ antireflective layer process and materials to commercialization has been signed between Natcore Technology and material inventor, the National Renewable Energy Laboratory (NREL) with funding of US$150,000.
Taiwan-based PV wafer and cell producers are already seeing the benefits from the US anti-dumping duty case, for which the US Department of Commerce has yet to make its final determination on possible countervailing import duties against Chinese PV module producers. According to Jefferies investment bank, sales at Taiwanese solar cell producers have rebounded 29% since the beginning of the year, after sales plummeted as overcapacity and subsequent weak demand resulted in many posting their lowest sales for more than two years.
The recovery in solar cell shipments continued into February for Taiwan-based crystalline solar cell producer, Neo Solar Power (NSP). The company reported sales of approximately US$34.4 million, compared to US$22 million (NT$850 million) in January and up from NT$663 million in December, 2011 when sales hit a two-year record low.
